How to Bet on Horses (Part 1)

Michael writes about his experience and offers tips for other aspiring entrepreneurs who wish to make a living with sports bookmaking.

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mikehill010@gmail.com

Price Per Head

These are a bit more difficult to win than the common betting types, and the reason is because they require your selections to finish in a determined proper order.

Common wagering types:. When betting a trifecta, at least seven horses should start the race.

Michael Hill is an avid sports fan and a sports writer who has been in the betting and price per head industry for years. We also provided you with info on the most utilized exotic betting types, and on the second part of this series, we will continue to expand on this subject so you can get familiarized with others such as the superfecta and the daily double.

PLACE: If you use this one, you are betting your horse to finish second, and so if he does finish either first or second, you win (and as presumed, your winnings will be lower as the bet is less risky).

Author’s Bio: 

WIN: This means that you are placing a wager on the horse that you believe is going end up in first place, and if he does, you are able to collect.

Exotic wagering types:

In order to bet on horses and have a real chance of defeating the house, it is necessary to have a good understanding of the different types of wagers that are offered to you in order to utilize them more effectively.

EXACTA: Here you are picking 2 horses to finish in first and second place, and they should end the race in the order you pick them so you can win the wager.

SHOW: Same concept as the two below, only this time you are betting your horse to end up in third place, so, if he finishes 1st, 2nd or 3rd, you also win.

TRIFECTA: Here you are betting on 3 horses to finish in first, second and third and they should finish the race in the specified position you picked for them for you to win. For example, let’s say that you are laying $2 on each of the aforementioned betting types, so, if your picked horse wins, you collect winnings for the 3 bets, if your horse finishes second, you collect earnings for place and show and if it finishes in the third position, you only get earnings for the show bet.

We hope this article has helped you understand common horse betting types in a better way.

QUINELLA: On this one you are betting on 2 determined horses to finish 1st and 2nd and either of your picked horses can finished first or second.

ACROSS THE BOARD: When you place this type of bet, you are wagering on win, place and show at the same time, but it works a little bit different

How the Sports Betting Line is Made by RJ Bell

If we’ve done that, we’ve done our job.”

Moving the line is the oddsmaker’s effort to balance betting action, and often times such moves can have a major impact on a bettor’s decision. Of course there is an entire method to the madness on how the opening line is created.

Once the opening line is released by LVSC, the individual sportsbooks decide if they want to make any adjustments before offering it to the public. Each of these oddsmakers bring unique opinions, strengths and weaknesses to the process. People think it’s much more complicated, but it’s not.”

Once a game’s power rating based pointspread is determined, the oddsmaker will make adjustments to that line after considering each team’s most recent games played and previous games played against that opponent. Of the 4-5 oddsmakers, generally the 2 most respected opinions are weighed more heavily by the Odds Director before he decides on the final line. That is not the case at all – their intent is NOT to evenly split the ATS result between the teams; rather, their goal is to attract equal betting action on both sides. Seba explained that it all starts with each oddsmaker creating a line on each game based upon their own personal approach. Examples of non-game factors that would require an adjustment to a team’s power rating are key player injuries and player trades.

What Is the Line Trying to Accomplish?

Contributed by:

The opening line is the first line created by the oddsmakers, which is then sent out to sportsbooks.

“The main objective is that our clients get equal action on both sides,” Seba said.

There is a common misconception that point spreads represent the oddsmakers’ prediction of how many points the favorite will win by. Reasons for such adjustments include:

Power ratings are the oddsmaker’s value of each team and are used as a guide to calculate a “preliminary” pointspread on an upcoming game.

Oddsmakers at LVSC are professional sports junkies who love what they do and would probably do it for nothing if you asked them, but they do get paid for it.

Experts working for the individual books having a strong opinion on the game

“The #1 thing for us is to make a line for each game that creates good two-way action.

Las Vegas Sports Consultants (LVSC) is the world’s premier oddsmaking company and the most respected authority on making the lines. Stated another way, they want to create a line that half the people find appealing to bet one way while the other half find it appealing to bet the other way (known as ‘dividing the action’). This usually includes having up-to-date power ratings on each team.

RJ Bell

©Pregame.com 2006

Website: http://www.Pregame.com

For example, if the pointspread on a game is 7 and most of the money is coming in on the underdog (taking the +7), sportsbooks will then move the number down to 6 ½ to try and attract money on the favorite. The power ratings are adjusted after each game a team plays.

A round-table discussion among the 4-5 oddsmakers involved in making the line for each sport is then conducted and a consensus line is decided upon by the Odds Director before it is released to the sportsbooks.

Why the Line Changes

Once betting begins, sportsbooks can adjust the line at any time. “We’re not trying to pick the team that covers the spread, we’re trying to make it a coin flip, a tough decision (for the bettor). If an oddsmaker comes up with a preliminary line of USC -7, then an adjustment up to -7.5 or -8 would be made in response to the public’s expected USC bias.

Divided action means the sportsbook is guaranteed a profit on the game because of the fee charged to the bettor (called juice or vig – typically $11 bet to win $10). Also, adjustments are made after reading each team’s local newspapers to get a sense of what the coaches & players are thinking going into the game. Obviously, if the line comes out a week ahead of the event (which is the case in football), there is much that could happen during the week leading up to the event that could affect the line. . In doing so they attempt to make more attractive the team that is getting less action. We do this by drawing from past experiences and applying them to current situations. For example, the public might have heavy betting interest week after week on a popular college football team such as USC. Mike Seba is a Senior Oddsmaker at LVSC and has been making lines for the last six years.

The last step in the line-making process for each oddsmaker is taking one final look to determine whether or not the line “feels right.” This is where common sense and past experience with how games are bet enters into the picture. Oddsmakers have to determine if any changes are necessary and send out an “adjusted line.”

“You either have a passion for it or you don’t,” Seba said.

Since the oddsmaker’s ultimate goal is equally dividing the betting action, public perception and betting patterns must be taken into account. By necessity their approach is very research-oriented and concise, since with millions of dollars at risk there is little margin for error.

Individual books having players who consistently bet with certain tendencies (such as an extreme bias toward favorites or toward a certain popular team like USC)

How the Opening Line Is Made

Oddsmakers can also change the line depending on various event-related factors such as player injuries or weather.

The purpose of these adjustments, like all line adjustments, is to more equally divide the betting action. By moving the line, sportsbooks can influence how the public bets on a particular game. In our extended interview, Seba explained that there are 4-5 oddsmakers assigned to make lines for each of the major sports (pro & college football and basketball; MLB, NHL, boxing, golf)

Advice on Sports Betting

It should be one that has revealed to return constantly over a long phase of instance. A betting plan must typically be from 1% to 2% for a method that entails you to enlarge your gambles after a slaughter and from 5% to 10% for a method that remains level bets at all instance.

Sports betting champ provide unique content related to betting which will guide you on your journey toward a perfect bettor. Afforded your method is a winner and your gambling pool and gambling plan is appropriately worked out inside that scheme, then ultimately your losing stripe will twist around and your method will become lucrative once more. The accessible funds must be ample enough to coat any trailing stripe you may have and sufficient to gradually pick up flipside into profit. It is when effects start to go erroneous and you have go on boarded upon a trailing stripe that the regulation of sticking to your scheme and staying inside your betting plans suits the most hard thing to do. Here are presently a few oddments of sports gambling guidance that will assist you return from this potentially productive marketplace.

The most significant piece of games betting suggestion I can provide you is – find a scheme that is a confirmed victor.

Becoming triumphant at gambling on games is attainable but having an approach and fastening to it is vital for that to occur. It must not be also complex. To know about different sports betting techniques visit this link.

Author’s Bio: 

If are not somebody who can waited restricted and alerted on whatsoever betting approaches you are with then you ought to not even think taking it up as a severe alternative. This is a vital piece of games betting guidance.

Betting Through Bank

Choose a system which is already proved

Discipline. If your methods are so perplexing that you are unsure you are receiving it precise then, noticeably it is useless to you.

Your gambling bank or staking arrangement must be worked out in combination with your gambling methods

Artificial intelligence: Key to ​Kentucky Derby betting?

You probably didn’t consider basing your Kentucky Derby bets on artificial intelligence — but maybe you should have. Gun Runner

“I placed my $1 bet on the race at the Derby on Saturday and made $542.10 — the odds of winning the superfecta [the top 4 finishers in order] were 540-1,” TechRepublic reporter Hope Reese wrote.

How does the system work? According to the company, the technology is built on a closed-loop system inspired by the insect swarm found in nature. The participants then used UNU to predict the winning order — and it turned out to be 100 percent correct. The idea is that “many minds are better than one,” therefore the act of pooling individual insights gives groups a better chance of reaching optimal decisions.

1. For comparison, none of the experts at Churchill Downs predicted the top four horses, let alone the top four horses in the correct order.. In a statement, Unanimous’ chief information officer David Baltaxe said the whole process took the company’s AI tool 20 minutes.

The artificial intelligence company Unanimous tested its new software platform, UNU, on last weekend’s Kentucky Derby, as reported by TechRepublic. Mohaymen

2. All Rights Reserved. Twenty participants, convened by the company, first used the software to narrow the field of 20 horses down to four top picks. In a recent 60 Minutes/Vanity Fair poll, more than half of Americans (53 percent) called society’s quest to advance the field of artificial intelligence “important.”

4. Nyquist

Although several prominent industry leaders remain wary of artificial intelligence, and a recent high-profile experiment with it went awry, the technology could revolutionize everything from smartphones to automobiles.

3. Exaggerator

© 2016 CBS Interactive Inc

Cantor Gaming Launches New Race and Sports Book at Tropicana Las Vegas

of Tropicana Las Vegas.

. Cantor Gaming is the first company licensed to manufacture, distribute,

and operate a mobile gaming system by the state of Nevada and remains

the world leader. We’ve made sports wagering completely

interactive – it’s no longer a passive, wait-and-see game.”

For more information, please visit: www.cantorgaming.com

Find us on Facebook at: www.facebook.com/cantorgaming

Cantor Gaming also offers mobile solutions to the gaming industry

through its proprietary mobile gaming device, eDeck(TM) (known as

Pocketcasino at the Las Vegas Sands’ Venetian and Palazzo), which offers

casino customers the ability to play innovative casino games developed

by Cantor Gaming including XtraOdds(TM) Baccarat and XtraOdds(TM) Blackjack,

as well as new and exciting progressive jackpot games within designated

areas of the casino property, away from the casino floor.

Cantor will also offer its eDeck mobile gaming devices at Tropicana Las

Vegas, to be launched in the coming weeks. Cantor Gaming is the exclusive provider of

mobile gaming and In-Running wagering solutions to the Las Vegas Sands

Corp. and is the exclusive race and sports book operator at the M Resort

Spa Casino, the Hard Rock Hotel & Casino, the Tropicana Las Vegas and

the Cosmopolitan of Las Vegas.

Wagering takes place on fixed trading stations within the sports book,

or on Cantor’s proprietary mobile gaming devices.

LAS VEGAS–(BUSINESS WIRE)–Cantor Gaming, an affiliate of global financial services firm Cantor

Fitzgerald, L.P., announces the opening today of its newest race and

sports book at the Tropicana Las Vegas. Our deep knowledge of

algorithms and statistics enables us to manage risk across our books in

such a way that we can and will take any sized bet, including on the Big

Game this coming weekend. eDeck will allow patrons to

wager on their favorite team outside of the sports book, in

pre-designated areas of the resort and will offer numerous casino-style

games, developed exclusively by Cantor Gaming.

“We are extremely pleased with our partnership with Cantor Gaming to

present a state-of-the-art Race and Sports Book as part of our overall

transformation of Tropicana Las Vegas. Tropicana Las Vegas is not affiliated with any other

property or brand.

Cantor’s approach to sports wagering is to replicate the Wall Street

model, in which patrons can place numerous bets on different outcomes

throughout a game. Cantor Gaming was also the first company to introduce

In-Running wagering to Las Vegas, enabling wagering on live sporting

events throughout the event. The South Beach inspired changes to the resort include a

fresh redesign of every hotel room and suite, the casino, the conference

center and exhibition hall, the transformation of the legendary

four-acre pool area into Nikki Beach Club and Club Nikki, several new

restaurants, bars, a new poker room, a new race and sports book, and a

new spa and fitness center. Cantor and

its affiliates process over $140 trillion of financial transaction

securely every year over its proprietary technology platform.

About Tropicana Las Vegas | http://www.troplv.com

Tropicana Las Vegas is redefining the expectations of today’s global

travelers with a major transformation scheduled for completion in the

spring of 2011. We believe this partnership will

not only bring a superior contribution to the Las Vegas Strip, but will

also add another ‘Best in Class’ venue at Tropicana Las Vegas as we

redefine the ultimate resort experience,” said Tom McCartney, President

and C.O.O. In the same way that prices in the financial markets

are constantly updated, Cantor’s lines and spreads change continuously

as the action evolves.

Lee Amaitis, President and CEO of Cantor Gaming, said: “We have an

unparalleled database of statistics on team and player performances, and

a technology platform that is accustomed to processing over $140

trillion in financial transactions every year. The look and feel of the new Tropicana Las

Vegas is vibrant and exciting, filled with the sultry rhythm of a hot

Havana night.

Stay up-to-date on the latest Tropicana Las Vegas happenings by finding

us on Facebook

(http://facebook.com/troplv)

or follow us on Twitter

(http://twitter.com/troplv).

Cantor Gaming is an affiliate and gaming licensee of global financial

services firm Cantor Fitzgerald L.P., which has over 65 years of

experience and unparalleled expertise of highly secure real-time, global

financial transaction processing, management, and execution. Cantor Gaming is the exclusive

operator of the new 4,200 square ft, state-of-the-art race and sports

book. With the addition of Tropicana Las Vegas, Cantor Gaming now

operates four race and sports books in Nevada.

About Cantor Gaming

Follow us on Twitter at: www.twitter.com/cantorgaming

For additional information on events, amenities, or availability call

702-739-2222 or visit www.troplv.com

How To Get Rich on Habbo Hotel

Tips & Warnings

I also recommend playing the many games

that are hosted, but never pay the owner furni. Although dealing under the Kelly bet will

slow your

growth, it is certainly better to deal under than

over.

Thus, you should regularly check

your bankroll and see what the optimal Kelly bet

is,

and try to get bets that are that big. However, with the birth of the

marketplace, coins are now typically used.)

Step 6

Buy rights from a popular

casino

Your money will simply not be well spent unless

you buy rights from a popular

casino. The

approximate dealer advantage of each game,

determined

by simulation, is found here, the higher the better. Save up your coins

until you have enough to buy rights PLUS about 50 coins to start

dealing..

Bear

in mind that the dealer advantage is over the long run. Never bet higher than the Kelly criterion

would have you,

and remember to put all that furni you earn to good use!

Step 8

Bet big = FAIL

According

to The Wizard

of Odds, the amount you should optimally be dealing for each hand

is determined by the Kelly criterion. Doing so

will grow your

reputation and give you more people to bet. Many people

who

attend these have a decent reputation on the hotel and many

friends. This formula was made to show

gamblers (if the odds are in their favor) how much they should bet

for maximum growth with minimum risk. In addition

to most games and their

conditions leading the dealer to an

advantage, you will likely get scammed,

reducing your total

payback even more. Getting to

know them can lead to them betting you, or at

least filling a casino you deal in

and making you appear friendly

and approachable.

DO mooch more furni and

coins and trade up

How I got my starting capital (several

times, mind you) was by making rich friends

and getting gifts from

them. If a player claims to lose all their furni, I recommend giving them one of their bets back. As you get

rich enough,

consider the prospect of opening your own casino! You can sell

rights

and establish yourself more formally as a well-known dealer

on Habbo Hotel.

Remember to deal responsibly. The trick is to open a coin shop and

sell LOW.

You’re not looking to make big money here; just enough

to get started with your

gambling enterprise. This will give you a positive reputation, and they’ll likely bet it again and lose it anyway.

Step 7

Deal ONLY games that are, eventually,

guaranteed to make you rich.

Poker and multi have a 0%

dealer advantage, and are thus horrible games to deal. It’s ok to shop around for a

good deal on rights, but don’t suffice for a

middle-of-the-list

casino. I have posted

a Kelly

calculator for Habbo games here.

Dealing over the Kelly bet will make you more likely to lose it all

without any added benefit. There

will be plenty

of winning/losing streaks along the way, and your

total bankroll over time will be

a rollercoaster. You need rights in a casino that is regularly on the top

of

the list.

Grow your friend network

It

is important not to coop yourself up in the casino the whole time as

you are

trying to gain profit. Getting to know others on Habbo is

essential

to making coins.

As a dealer, it’s important not to offer deals that are so large they take away your dealers’ advantage. For

instance, in a game with 10% dealer

advantage, for every 10 coins bet, the dealer

can expect to profit

1 coin. For example, I

would be more apt to bet someone named

Blue than XxSweetie_012xX.

Whip out a dictionary and look up some words that have

not been

taken yet. In most cases, the casino wins when gambling. This translates into the pixel world.

You’re going to need Habbo Club to appear presentable and to be taken

seriously by the community (no one likes being called a bacon). In

order to

grow your wealth, you need to play games with a dealer advantage, such as 6, 13, 21, and pick-a-number.

The

dealer advantage is defined as the percent profit the dealer

makes on each bet. Thus, it is

important to apportion bets appropriately to allow for

this

long-term growth, as discussed in the next step.

Step 3

Get your first month of

Habbo Club.

Habbo Hotel is dominated by teenagers, and

teenagers are superficial. (See

my page for details on dealer advantage.) But, in order to get a

good start on your dealing (as we will discuss later), you will

probably want to start with 50 coins (known as a “gb” for

gold bar).

Step 2

Select a good username.

Many

Habbos try to get bets in casinos, but fail to do so and wonder why.

Gamblers

with experience inherently trust more aged users, and an

indicator of age is the

uniqueness of a username. You may get discounts

(or

even free) rights other casinos. This path is by no

means quick and easy, so do not expect instant results.

Realize that the Habbo

economy is dominated by gambling.

Wealth is localized in

Habbo in quite a regular fashion. Sometimes these gifts would be rares (right on!),

but

typically I got various norms. If you can’t, let the Kelly

amount be

your booth’s maximum bet.

Good places to find

friends are in various games and reality shows. I’m guessing you have one of those.Step 1

Step 9

This how-to guide will give you the

tools needed to become rich on Habbo Hotel. There’s bound to be something.

Things You Will NeedAll you’ll need is a computer with a working Internet connection. It is clear that the richest of the rich on Habbo

did

not attain their wealth from buying coins, considering that spending

$100 on

coins will get you only 10

gold bars. Using Habbo Hotel as a

friend-making service (as it was

intended) is one of the most

profitable moves you can make as a dealer. If these coins

are wagered enough times, the casino will eventually own all of them.

Thus, the split between rich and poor grows.

Habbo

Hotel is a massively multiplayer online game where players create

virtual

avatars to visit various hotel rooms, participate in

activities, and personalize

their own page. To the typical Habbo

player, it can be daunting to see how wealthy

some of the elite

players are. It’s best to expect

that the owner is a scammer, and you can’t get scammed if you don’t

give him or her anything.

Conclusion

Step 5

Step 4

DO NOT BET YOUR FREE HC

GIFT

Betting in Habbo is typically a no-no. Here

are some tips for Habbo Club members:

Do not overdress. A

myriad of bling and headdresses is bound to scare

patrons away

from your booth.

Do not wear badges except the one for the

casino’s dealer group.

Doing this will also get you your first

HC gift.

With all these techniques, you should

see a steady growth of your purse. (The Habbo Club sofa used to be the common

unit of exchange in the market.

Check bobbavalues.com if you need a

price check on a rare you come across.

These coins will be traded among

various Habbos until one of them ultimately decides to

gamble

them. If

you’d like to get this right away, simply buy a few coins (you could

get 20 via text message for $4), or, if you’re a die-hard for not

spending any money, play games and make friends, get some normal

furni, and sell them for coins (described in-depth in step 5). As your reputation

grows, it may be tempting to do

super rare bets that you cannot

afford. It begins with a new

player

deciding to buy coins

New gambling record: Betting on outcome of Brexit vote

He intends to vote to leave the E.U., but has placed bets on “remain” to at least get something in case of his side’s defeat.

Betfair allows people to place wagers against each other rather than setting odds like the traditional bookmakers. That surpasses the 40 million pounds placed on the 2012 U.S. That’s reflected in financial markets, where stocks and the British pound are relatively buoyant one day before the big event.

Thursday’s vote on whether to leave the European Union, which will have lasting consequences for the country and Europe, is due to break the record as the most bet-upon political event in Britain’s history. The betting has also gained the attention of global investors as a gauge of the likelihood of an event’s outcome. Spread betting, on the other hand, does not provide a simple win or lose outcome, but can provide payoffs based on the accuracy of the bet. The referendum also outmatches the 35 million pounds placed on the 2014 World Cup Final.

For Stephen Jones, 55, betting is a form of insurance against disappointment. This material may not be published, broadcast, rewritten, or redistributed. referendum betting already hit a record for a political event days ago for Betfair, bookmaker BetFred and IG, the largest provider of spread betting services.

“If we are going to remain in the E.U., at least I will take compensation,” said Jones, who expects to get 3,000 pounds back in profit in such an event. Polls suggest it is too close to call, while bookies give the “remain” side a higher chance of winning.

Betting is his way to get in on the drama because as a foreign citizen from China he will not have a right to vote. But the importance, drama and uncertainty that have surrounded this vote have made it a spectator sport in its own right. While the polls show this week’s vote is too close to call, bookies like Betfair are giving the “remain” side a 76 percent probability of winning. All Rights Reserved. presidential race, which was its previous record for a political event. Ladbrokes has seen a tenfold increase in recent years.

LONDON — As if the stakes were not high enough in Britain’s nail-biting vote this week, people are betting record amounts of money on its outcome.

Betting exchange Betfair says it had taken 45.8 million pounds in wagers on the E.U. The industry is expecting 100 million pounds, or nearly $150 million, to be wagered by the time the result is known in the early hours of Friday.

© 2016 The Associated Press.

. He was back in the betting shop this week to place additional wagers on behalf of three American friends.

Betfair, bookmakers Ladbrokes and Paddy Power and the Betting Research Unit at Nottingham Business School all estimate that the total value of bets on the vote placed in Britain will reach, and likely exceed, 100 million pounds.

“This is comfortably the biggest political betting event in history and dwarves both the general election and the Scottish referendum,” says Lewis Davey, spokesman for Paddy Power, referring to the Scottish vote on independence last year.

“This is a historical event, and I want to take part in it,” said Can Zhao, an investment researcher who last week placed a 135-pound ($198) bet on “remain” at a Ladbrokes betting parlor near London’s Kings Cross train station.

E.U. It has become increasingly popular, particularly to bet on financial markets.

The bookies’ odds have largely been in synch with global financial markets. vote as of Wednesday and expects a final amount of 50 million pounds. That’s particularly true since pollsters have missed badly in measuring sentiment before some of Britain’s most recent votes, the last general election and the Scottish referendum.

Such betting fever is normally associated with major sports events, with people here habitually placing wagers online or in betting shops on everything from horse races to football matches. “But my big win is to leave the E.U.”

Betting on political events used to be a niche area in the gambling industry but has become more widespread, particularly in Britain

Sports Betting: How to Bet Parlays

The difference in the payoff is because the Dodgers were not given very good odds of winning.

Are Parlays Good Bets?

The simple answer is no, especially parlays involving point spreads or totals. The ability to win a lot of money for a small bet is the primary reason parlays are popular with a number of sports bettors.

Money Line Parlays

Money line parlays do not use fixed odds, because the odds of winning vary greatly from team to team. While a parlay made against the point spread assumes a 50-50 chance for each team of winning, money line parlays do not.

continue reading below our video

To put it in simple terms, money line parlays take the amount of your bet and place all of the money on one team and if that team wins, recalculates your bet amount on the next team, again placing your entire wager on that team.

Bettors should stick with straight bets when betting against the point spread or totals as it’s difficult enough to pick one winner, let alone two or more games and the odds you are asked to try and beat are nearly impossible to overcome in the long run.

2 teams 13-5

3 teams 6-1

4 teams 10-1

5 teams 25-1

6 teams 40-1

7 teams 75-1

8 teams 150-1

9 teams 300-1

10 teams 600-1

To read more about parlays, see Parlay Cards, Finding Correlated Parlays or Betting Baseball Parlays.

Updated

March 21, 2016.

Sports Betting – How to Bet Parlays

Parlays are by far the most popular of the exotic wagers, as they offer the potential for a big payout from a small wager. The payoffs a bettor will receive should they win are quite different in the two. If you place a four team parlay, going 3-1 is no different than going 0-4. The odds of the payoff are much less than the true odds. The chances of the a good baseball team with its ace pitcher on the mound defeating a mediocre opponent are going to be greater than 50 percent and the payout if the parlay hits will reflect this.. In parlays involving point spreads, the payoff are fixed, while money line parlay payoffs are determined by the odds of each team.

Point Spread Parlays

The odds on a typical parlay involving point spreads, including totals, are generally something like:

Money line parlay payoffs are calculated on the odds of the game, so there is no advantage or disadvantage in playing them.

By Allen Moody

What this means is that a bettor making a wager on a five-team parlay stands to win $25 for every $1 if all of their games win, while a correct eight-parlay will payout $150 for every $1 wagered. For example, the true odds of winning a three-team parlay when making point spread wagers are 7-1, while the payoff is only 6-1, and it gets worse as you bet more teams. The true odds of hitting a 10-team point parlay are 1,023-1, while the payoff is generally around 600-1, so a parlay bettor is at a big disadvantage.

There are basic types of parlays, those wagered against the point spread and those wagered using the money line. Simply stated, a parlay is a collection of two or more sides or totals that you bet on and all of them must win in order for you to win your bet. Contrast the $36 profit with the $26 profit a bettor winning a $10 point spread parlay on two teams would make. All of your bets must win, or at least tie, in order for you to win.

5 Hobbies That Give Your Brain a Workout

For example, say a bettor likes the Los Angeles Dodgers +160 and the Chicago Cubs -130. If the bettor places a $10 wager, they essentially would have a $10 bet on the Dodgers +160, which will return $26 should the Dodgers win, and then would have $26 on the Cubs -130. Should the Cubs also win, the bettor has turned a $10 wager into $46

5 myths of sports betting legalization

I will likely have to put money on deposit to do so. bookmaking powerhouse William Hill has already set up an operation in New Jersey, and MGM CEO Jim Murren has said his company is interested in expansion.

Furthermore, once sports betting becomes legal the negative stigma behind it will eventually disappear, which will make it a bit easier for problem gamblers to ask for help. This credit relationship will be hard for many gamblers to give up.

Since bookies will not have to pay taxes or licensing fees, they will be able to offer better margins or incentives to their customers. 2: It will create more “problem gamblers”

Myth No. Purdum, an expert on the subject, has been vocal in his belief that online sports gambling will need to be a big part of the new legalization plan, and I share his belief, as betting on a phone and computer is simply much more convenient than driving to a brick-and-mortar sports book and making a wager. Many bookies will allow me to get more credit and continue to gamble. Illegal gambling is one of the factors that’s associated with gambling addiction,” Keith S. Say I set up an account with Legal Sportsbook A. “But for the FBI knocking on our door and notifying us about Donaghy’s betting, none of the systems that we then had in place had captured any betting by Tim Donaghy.”

This is the easiest myth to dispel. In addition, customers are far more inclined to place a wager when they don’t have to put any money down.

Once games happen, the stats are public domain. 1: It will result in large revenue for the leagues

In that time span, we all know that Vegas has flourished. Whyte, executive director of the NCPG, told my ESPN colleague David Purdum.

I see the same trend happening if sports betting gets legalized in the U.S. Second, operators will need to run a cost-effective business, which may prove difficult if there are a lot of other hands to feed besides the government.

Myth No. 4: It will damage the sports betting business in Las Vegas

The thought process here is that with legalized sports betting available locally, there will be less interest in making the trek to Sin City to wager on sports. When I lose this money, it’s gone, and I can’t bet until I put more money on deposit. These days, most bookies provide both a phone number and website where bets can be made. (It’s common for bookies to offer rebates to their big customers.) This will be difficult for legal bookmakers to compete with.

When I think about the best way to legalize sports gambling from a logistical standpoint, I get a headache. Concerts, shows, high-end nightclubs and restaurants draw people to Vegas as much as the gambling does. District Court Judge Mary Ann Medler ruled in favor of CBC, stating that “statistics are part of the public domain and can be used at no cost by fantasy companies.” One would infer that the same would apply to legal bookmaking operations.

Here’s an example. In the past two decades, although total revenue has risen, percentage of revenue from gambling has decreased from close to 60 percent to last year’s 38 percent. 3: It will put local illegal bookies out of business

Myth No. Some are based on a time frame, while others are based on going over agreed-upon limits. There are going to be a lot of hands in the cookie jar. In the latter case, I set up a credit arrangement with Illegal Book B and we agree that I will pay every time I go over $1,000. This is not how most bookies work. First off, the government will only legalize if it is going to get significant revenue. There are no credit checks or margin calls until it is time for me to pay. The two biggest reasons people bet with bookies (beyond the lack of alternatives) are the convenience and the line of credit. If something shady were to occur in a game around a betting proposition, raised awareness by the public about gambling in general would help highlight any improprieties before, during and after the match.

There is simply no way the leagues could ask for a percentage piece of gambling revenue, as this would result in a huge conflict of interest. How will it be regulated? How involved will the government be? Will it be federal enforcement or on a state level?

There are a lot of unanswered questions regarding legalization of sports gambling in the U.S., and it will be fascinating to watch how it unfolds in the next few years. However, there are certainly some myths that I believe can be dispelled.

Here are the top five myths about legalizing sports betting and why they’re wrong:

Myth No. Since sports gambling is currently something that happens in the shadows, problem gamblers are likely to hide in that shadow until it is too late.

My answer is a solid maybe. John McCain (R-Ariz.) also recently said that Congress needs to hold hearings to discuss legalizing sports betting.

Myth No. Vegas has had to reinvent itself as a place that is about more than just gambling. U.S. This year, it is on pace to welcome a record 40 million visitors. “The Donaghy controversy also made me aware how important it is that we have a way of monitoring irregular activity on our games,” Silver said.

Those who believe this simply don’t understand how sports betting with a bookie works. It’s a pretty reasonable assumption that it’s easier to fix a game in an environment where most of the money wagered is impossible to discover or track by the government. This is the type of financial recklessness associated with problem gambling.

While it seems that the question of legalizing sports betting presently is more of an if than a when, there remains a great deal of uncertainty regarding what it would look like. 5: It will create greater risk for game fixing

At any rate, I really don’t see legalized sports betting in other states having a big impact on the sports betting business in Vegas.

The topic of federal legalization of sports betting has been brought up before, but it has gained steam since Adam Silver’s November New York Times op-ed and after Silver’s cover story in ESPN The Magazine’s Gambling Issue. In addition, asking for a percentage based on the overall handle (total amount wagered) will cut into the margin of the sports books too significantly.

I understand the argument that legalized sports betting could expose more people to gambling and the increased ease and access will create more problem gamblers, but I simply don’t buy it. Maybe more so.

Those betting with bookies have predetermined settlement terms. In order to grow the pie large enough, these conveniences must be provided to gamblers. Legalized sports betting would elevate these now somewhat esoteric notions into the mainstream conversation about sports. The U.S. If it’s legalized, there will be huge changes, but some assumptions are simply off.

“One of the things that makes sports betting so interesting is that it is probably by far the most widely participated in form of illegal gambling.

And I have heard some mention licensing fees for data, but haven’t we already covered that in lawsuits against both the NBA and Major League Baseball Advanced Media (MLBAM)? In both cases, statistics and data were ruled to be public, not a private asset for which the leagues could charge a license fee.

Silver echoed this sentiment when discussing his personal revelation in an exclusive interview with ESPN. Illegal sports betting has some characteristics that can lead to problem gambling more than legal betting would.

The National Council on Problem Gamblers has found that problem gamblers are most often involved in illegal gambling, so moving toward a model where more gamblers are doing it legally can only help.

The real value for them will be potential marketing dollars and increased fan engagement, not licensing fees for data or direct revenue from wagering.

Mr. Sen. Yes, trademark images and logos would be a different story, so I could see the leagues getting marketing deals, but I don’t see that as a huge windfall for the leagues.

Las Vegas sports book operators are already looking to expand to other states. In fact, there’s an argument that exposing more people to sports gambling in their native states will make the general concept of sports gambling more approachable, ultimately leading to a larger overall percentage of sports fans-turned-gamblers.

Until many of these questions are answered, it will be difficult to draw any hard conclusions about the ramifications of legalized sports gambling in the U.S. I am concerned that the overall pie, even with online gambling, may not be large enough for the leagues to make the money they are hoping for.

In the most relevant case, CBC, the parent company of CDM Sports, a fantasy provider, sued MLBAM after being denied a new fantasy sports license. Those who believe that legalized sports betting will lead to more risk of game fixing simply don’t understand why games are fixed. Are fewer people gambling because they can do it in their home state?

In addition, game fixing would be easier in a world where fewer people track or are even aware of things like point spreads and over/under bets. But let’s say I have a bad losing streak and end up down more than $1,000. This mirrors a similar concern that some had 25 years ago when Indian and commercial casinos began sprouting up all over the U.S.. operation for the U.K. The experience of going to Vegas is becoming less and less about putting down a sports bet and more and more about the experience of everything else

Betting on Sports – 6 Winning Rules by Don Stark

If you’re serious about winning more bets than you lose, you should listen to a professional.

Rule #4 – DO NOT Play Parlays or Teasers – Parlays, teasers, and other exotic wagers are offered for a reason. Hook them all together in a parlay and you must win all 3, or you’re sunk.

Rule #1 – Use Proper Money Management – This rule is the one that is most neglected and explains why Vegas keeps on building all of those multi-billion dollar casinos. After checking several well-established and solid options, decide on 2 or 3 of them, and then divide and deposit your initial bankroll equally amongst each one. If you set aside $1,000 for gambling, your individual bets should be in the $20 range and no more. That gives you an automatic advantage over the bookie, so use it to the fullest extent. While some do it just for recreation or to make watching a TV game more exciting, there are others who will always wager on their favorite team or player, period. Stick with 2% and never double up and chase lost money.

Whether you’re a recreational player or actually doing it solely for a profit, may you always have more winners than losers, and always remember to have a lot of fun along the way, but stick to the rules. Whichever group you fall into, sports wagering must be treated the same as any other financial investment. It’s a proposition for losers only, so don’t do it. Stick to straight action only. If betting on sports is more than just a recreational pastime, or if you just don’t have the time or resources for Rule #5, seriously consider employing the services of a professional sports handicapper.

Rule #3 – Spend Some Time Shopping – This can be compared to shopping for a new car or even for groceries. If it were really possible for anyone to consistently pick 3 out of 3, parlays (and teasers) wouldn’t be offered by the sports books. Over the course of a year, that ½, 1, or even 2 point difference will come into play many times, and trust me…it will add up to a lot of money. .

People all over the world love to bet on sports. Most people just don’t have the time to properly study things like past statistics, line moves, trends, angles, valuable lines, inflated numbers, and much, much more. Never wager more than you can afford to lose, so be honest with yourself on what you can comfortably set aside for recreation or otherwise. Rule #5 – Perform Due Diligence – As a bettor, you normally have the opportunity to do research well in advance of having to make that final decision on a wager. To be done properly (and profitably), here are some very crucial rules one must follow.

Rule #2 – Never Gamble Under the Influence – To coin a phrase, “Speak when you’re drunk and you’ll probably make the biggest speech you’ll ever live to regret.” The same sensible theory applies to betting on sports. If you’re on medication, drugs, or alcohol, or if you’re just in an upset or disturbed mood, be smart and don’t play until you’re back to 100%. The payoff odds and point spreads are not carved in stone throughout the industry, and on any given day, they can vary greatly between different shops. Watching ESPN and/or reading opinionated articles by sports writers on the Internet is not the proper way to do your homework. Conversely, if you’re on a losing streak and the bankroll goes down, the size of your bets will decrease accordingly. If you bet 3 teams straight action and only win 2 of the 3, you’ve just made money.

Rule #6 – Seek a Professional – There is a wealth of valuable information available on the Internet but you have to take the time to do proper and thorough research. However, there is an elite third group out there who bet sports with one and only one purpose in mind…to make money. For example, if you live in California and become an expert on the PAC 10, you can increase your chances of winning by focusing on just your niche. Yes, you can bet a 3-team parlay, and if you win, it normally pays in the vicinity of 6 to 1 in football and basketball. Unexplainably, wins and losses often times run in streaks, so slowly increase your bets on a hot streak and back off on cold streaks. If you’re winning, the 2% per wager automatically increases as your bankroll increases. If you’re sick, you go see a doctor. Research several sports books thoroughly and compare the numbers. One of the best ways to win at sports wagering is to maybe find your own special niche and then follow it closely. Since you’re reading this, you’re probably part of that majority. To be successful at anything, your mind needs to be 100% clear and functional. Secondly, never wager more than 2% of your total bankroll on any single wager. Always look for the best prices or the best numbers. Then, before making your wager(s), check each book and always take the best number on your particular event. Drugs (legal or otherwise) and alcohol can cloud your judgment and will lead you into making decisions that you normally wouldn’t make