Gov. He praised legislators for their swift action and commended Assembly Majority Leader William Horne, a Democrat from Las Vegas, for shepherding the bill.
The measure makes Nevada the first state in the country to approve interstate online gaming, notes CBS Las Vegas affiliate KLAS-TV, adding that it was put on the fast track Thursday. But when those efforts failed in Congress, Sandoval said Nevada would work toward agreements with other states.
Horne couldn’t resist at jab at Nevada’s gambling rivals.
Horne, in turn, had equal accolades for the Republican governor.
CARSON CITY, Nev. Brian Sandoval signed legislation Thursday legalizing online gambling in Nevada, capping a dizzying day at the Legislature as lawmakers passed the bill through the Assembly and Senate as an emergency measure.
Several other states began looking into online gambling after the Department of Justice issued a letter in 2011 stating that the federal Wire Act of 1961, often used to crack down on gambling over the Internet, only applies to sports betting.
Pete Ernaut, a lobbyist representing the Nevada Resort Association, said expanding the customer base was key.
Gambling regulators will now come up with regulations dictating compact parameters.
“This was a lot of work and it couldn’t have been done without the governor’s leadership and vision,” he said.
“We have the most mature financial, auditing and collection capabilities, much greater than some of those states, and they have the players,” he said.
“This is an historic day for the great state of Nevada,” Sandoval said, flanked by dozens of state lawmakers. New Jersey Gov. Sandoval had pushed for companies that want to offer online gambling to pay a $500,000 fee, while Horne, in the original bill draft, proposed $1 million.
Lawmakers in 2011 passed a bill that put Nevada in position to legalize Internet gambling if the federal government sanctioned it. A renewal fee was set at $250,000.
“As to our competitor, New Jersey, they should be accustomed to following Nevada,” he said.
Nevada wanted to beat New Jersey, its East Coast casino rival, to the online m888 gambling punch. It sailed through both the Assembly and Senate on Thursday after a joint hearing before the two judiciary committees.
Sandoval and Nevada legislative leaders said it was important for Nevada to remain at the forefront of gambling regulation.
The benefit for other states, he said, is Nevada’s “most mature regulatory infrastructure.”
The bill approved Thursday resolved a disagreement between Horne and the governor’s office over licensing fees. Chris Christie previously vetoed an online wagering bill but has indicated he may sign an amended version next week.
. The Senate passed it at midday and sent it to the governor’s desk for signature.
Partnering with other states gives Nevada an expanded customer market and provides other states with Nevada’s expertise in gambling regulation.
AB114 authorizes Nevada to enter into compacts with other states to offer Internet poker. Senate and Assembly judiciary committees approved it, sending it to the Assembly where it passed unanimously. “Today I sign into law the framework that will usher in the next frontier of gaming in Nevada.”
Sandoval, a former chairman of the Nevada Gaming Commission added, “This bill is critical to our state’s economy and ensures that we will continue to be the gold standard for gaming regulation.”
“It’s imperative for the success of this that we compact with other states because we don’t have a universe of players,” Ernaut said.
AG Burnett, chairman of the Nevada Gaming Control Board, said the state already has about 20 applications from various operators, equipment and software vendors to be licensed for online gambling.
Under a compromise, the fee was set at $500,000, though it gives the Nevada Gaming Commission authority to change the amount
My longest streak was seven in a row and my girlfriend had 11 in a row during basketball season. Other prizes are available for m88 asia smaller streaks. If you get it wrong, your streak resets to zero. Each day you can make one pick from a list of games that Covers.com chooses. We have found that during basketball season it was much easier to find a good pick than it has been during baseball season.
Many of the picks are not just picking which team will win. You do not have to pick everyday, but you must pick once every six days to keep your streak alive..
Only having the option of picking one game a day makes this contest one of my favorites. If you get your pick correct, your streak goes up. It doesn’t take a lot of time and it is a contest that a smart sports fan has a reasonable shot at winning. Basketball and football include picking ATS (against the spread), which makes Covers.com the closest thing to actually betting on sports on this list.
The ultimate goal is to build a streak of 24 correct picks for the overall grand prize of $100,000. See the table to the right for a breakdown of the prizes.
Covers.com is a sports betting information website that runs a free streak style contest with a top prize of $100,000
Add m88 link a Shortie
Add a Roughie
style=”display: none;”>Potential Returns
So, take a moment to self-reflect. Re-discover yourself through self-reflection.
5. Someone that can pay your bills and buy the necessities. For more information and a complete, free, 5-step overcoming addiction e-guide subscribe below…..
So, what exactly is the root cause of a gambling addiction? Unlike drugs or alcohol, gambling is obviously a compulsion rather than a substance. However, the thrill of victory quickly turns to agony of defeat when snake eyes show up, or they bust at blackjack and inevitably arrive at a point of financial disaster!
Now, at this point, you may be wondering what causes the emotional distress that leads to gambling addiction. What emotional issues are you trying to divert your attention from? Have you been abused, controlled, or unloved? What are you failing to change or to take responsibility for in your life? These are the questions that must be answered. And despite this stark contrast between substance abuse and habitual compulsions, the basis for the addiction is one in the same. In fact, there is no empirical evidence to even prove that it exists. Be prepared to change your lifestyle and your friends.
For some a roll of the dice, spin of the roulette wheel, yank of the slot machine lever, or the shuffle of cards is an occasional jaunt of pleasure. It is purely hypothetical and is subjective to each and every clinician. And moreover, the very notion that a disease oriented co-dependence theory could be applied to a compulsive behavior such as a gambling addiction is preposterous. Well, experience has taught me that the root cause of every addiction is the emotional trauma caused by family dysfunction. Do you want to change your life? Do you want to pull yourself up by the bootstraps and get on with it? Regardless of what others say or what you may tell yourself, you have the power to make choices!
1. Turn over your finances to a trusted family member or friend. Would the disease theorists have us believe that a chemical in http://cam.ac.uk the lever of a slot machine addicts a person to gambling? Or, would they have us believe that a chemical substance in a deck of playing cards seeps through ones fingers and traps them hopelessly in a life of thrills and spills? I don’t know about you, but I’m not buying it!
Here’s what you should do
The Addiction Freedom Coach . Uncover and confront the root cause of your gambling addiction. However, for others it becomes a habitual compulsion (gambling addiction) that destroys their family life, finances, and career!
Over the past decade or so, the sixty for thousand dollar question has been; what causes a gambling addiction? Is it a disease? Is it caused by a chemical imbalance in the brain? Well, the mainstream disease theorists would have you believe that it is, but I beg to differ! First and foremost, there is no pathological test to diagnose a chemical imbalance. In fact, as an addiction recovery coach, I have never seen one case that wasn’t rooted in patterns of verbal abuse, physical abuse, sexual abuse, parental control, part-time parenting, or drug and alcohol abuse. (family dysfunction)
4. As with any addiction, a compulsion generally makes people feel better or happier, and it diverts them from their emotional pain. For those that gamble habitually, it’s not a substance but the feeling of power, the thrill of winning, or the excitement of high stakes and chance that diverts them from their emotional pain. Establish a date in writing, preferably 60-90 days that they will turn the reins back over to you, with the understanding that if you haven’t stopped gambling or you return to it, they will not!
3. Make a decision right here and now to do whatever it takes to deal with your emotional issues and change your life.
And with the growth of gaming elsewhere, the sports books are an important distinction that Native American reservation casinos, riverboats and Atlantic City can’t offer.
Estimates on the amount wagered on the tournament vary widely, although all put the amount wagered on college basketball in the billions.
And while only a fraction of the amount bet on basketball is bet in legal sports books, Saum argues that a legal sports book in Nevada gives illegal gamblers the outlet they need to complete a major point-shaving scheme.
Such interest and ratings convinced CBS to sign a new 11-year, $6 billion contract to broadcast the tournament as well as some less high-profile events, up from the $1.75 billion, seven-year deal it completes with this tournament.
The serious risk for college sports is that athletes who get in over their heads to bookies will participate in point-shaving schemes in which they’ll hurt their team’s performance to try to give professional gamblers an edge.
Eugene Christiansen of Christiansen Capital Advisors, an expert on gaming, said that Nevada casinos, the only ones in the country with legal sports books, make only 3 cents for every dollar wagered and probably lose money on the operation 2 months out of every 12. Bill Saum, the association’s director of agent, gambling and amateurism activities, says his group is worried that gambling on sports is a serious problem among college athletes. “But they try to be all things to all people. He said they’re virtual loss leaders for the casinos.
The tip-off of the NCAA’s basketball tournament is still almost a week away, but Sunday the brackets of the 65-team tournament will be set, and by Monday morning betting pools on at least the men’s tourney will be underway in most workplaces around the country.
So don’t bet on either side changing their positions any time soon, even if it would be in both of their financial interests to do so. There are good customers who like to bet sports.”
Nationwide gambling on the tournament has helped drive its ratings past those of even the National Basketball Association’s playoffs, as the average NCAA tournament game was watched by 6.5 percent of U.S. “There is a reason virtually every newspaper in America prints the brackets. He said a 1995-96 point-shaving scandal involving Northwestern University led to $1 million in bets in Las Vegas.
“The NCAA’s basketball tournaments are made for gambling,” said Alan Feldman, a spokesman for Las Vegas casino operator MGM Mirage (MGG: up $0.29 to $35.59, Research, Estimates). Apparently that’s a risk the NCAA is willing to take.”
. The group’s surveys found 25 percent wagering on sports and 5 percent betting on their own games.
“The books themselves take up quite a bit of floor space, and on a cost basis are not the best use of that real estate,” Christiansen said. Part of the excitement of the Cinderella teams making it is that they’re long shots coming in.”
Hard-core fans and non-fans alike will take their chances at picking which teams will advance in the three-week, six-round tournament, making it by most estimates the most widespread betting event in the nation every year.
Talk about March Madness.
“In a perfect world, we wish there were no pools,” said Saum, whose office may be one of the few in the country without such a pool come Monday. households last year, versus the 4.9 percent who tune in to watch the pros.
Sunday marks the start of the sporting world’s most dysfunctional marriage – the combination of college basketball and gambling.
Nevada gaming executives question that claim, saying that internal controls would stop outsiders not well-known to the casinos from laying those types of bets, and that their controls have actually helped alert college sports officials about questionable betting.
Click here for CNNSI.com’s NCAA tournament coverage
“Here we watch it minute by minute,” said Feldman. But the governing body is backing federal legislation to end the practice, saying it can corrupt its athletes and its sports.
NEW YORK (CNN/Money) –
And still nothing troubles the NCAA more than gambling on college sports. “When you force it underground, anything is possible. But some of those pools on Wall Street for tens of thousands have that potential.”
Click here to send mail to Chris Isidore
And casinos say much of those basketball bets comes in during the NCAA tournament, when the total amount wagered will rival the amount bet on the Super Bowl.
Still the casinos won’t be out big money if the NCAA wins its push to ban wagering on amateur athletics since their sports books are a relatively thin-margin operation.
“It’s very difficult to lay $1 million with illegal bookies,” he said.
Gambling on college sports has been very good to the National Collegiate Athletic Association, indirectly adding more money to its coffers than it ever paid to Nevada casino. “We realize that putting a dollar in for fun is not going to make someone a compulsive gambler or impact the outcome of a game
Never bet more than you can afford to lose. For example, instead of paying $2 for an Exacta bet that requires the horses to finish in an exact first and second place order, you can pay $4 for an Exacta Box bet, and you will win the Exacta bet regardless of which of the two horses comes in first.
Exacta Bet – A bet on the exact first and second place finishers in exact order.
Place Bet – A bet that the horse you chose will come in second (a place bet is also a winning bet if the horse you chose comes in first).
Trifecta Bet – A bet on the exact first, second, and third place finishers in exact order.
Daily Double Bet – A bet on the first place finishers in two consecutive races.
To place a $2 Exacta Box bet on horse 2 and 5, you would say, “<Track Name>, $2 Exacta Box on Numbers 2 and 5″ (keep in mind that this is actually a $4 bet since you are boxing the bet).
Once you have taken the time to look over the racing program and the professionals’ advice, it is time to start figuring out which bets you would like to place for the upcoming race. The point is to have fun, not to go home without money you need to pay your bills. At this point, some people like to spend some time on the paddock to see the horses being walked from the stable to the track, as it adds to the horse racing experience and occasionally one might notice something about a horse that influences the way they bet, such as a horse that appears sluggish or one that seems like it is in exceptional shape.
While there are a variety of bets, the following are the most common bets, and are more than enough for beginners. To keep things fun and not risk too much money, most beginners make $2 bets. Across The Board Bet) – Bets on the first, second, and third place finishers; each act as a separate bet.
The following is the correct way to place a bet with a betting clerk:.
Show Bet – A bet that the horse you chose will come in third (a show bet is also a winning bet if the horse you chose comes in first or second).
Win, Place, and Show Bet (a.k.a.
The reason why you need to start out with the <Track Name> is because you can bet on horse races at many tracks from the horse track you are currently at, so you need to specify the track to the betting clerk.
Win Bet – A bet that the horse you chose will win the race.
To place a $2 Win bet on horse number 7, you would say, “<Track Name>, $2 to Win on Number 7″.
Box Bet – Any of the above bets can be boxed for an additional wager
But the NBA, NFL and other sports leagues successfully sued, saying the measure violated the federal ban.
In a 31-page opinion, U.S. Congress to pass legislation letting states regulate sports betting.
Judge Shipp issued a temporary restraining order days later, blocking the bill, before granting a permanent injunction in Friday’s opinion.
Voters approved the idea of legal sports betting in 2011, and the following year, Christie signed a bill doing just that. That law would allow sports betting at state-licensed casinos and racetracks.
(Reporting by Curtis Skinner in San Francisco; Editing by Clarence Fernandez)
A U.S. New Jersey officials have hoped that legalized sports wagering would generate more revenue for Atlantic City’s gambling industry, which has lost customers to a spate of new casinos opening in nearby states.
“The economic impact sports wagering can have on (New Jersey) is far too important,” he added.
“This (law) necessarily results in sports wagering with the state’s imprimatur, which goes against the very goal of (the Professional and Amateur Sports Protection Act),” Shipp wrote.
The sports leagues took the state back to court on Oct. federal judge on Friday blocked a New Jersey law that would have allowed legal betting on sporting events at some places in the state.
New Jersey Senate president Stephen Sweeney said in a statement on Twitter after the ruling that he would continue, “pursuing every legal option available.”
Writing in the New York Times last week, National Basketball Association Commissioner Adam Silver urged the U.S. District Judge Michael Shipp wrote that the law, signed last month by Republican Governor Chris Christie, violated a federal statute that bans sports betting in nearly all U.S. 20, saying the new effort also violated the federal sports gambling ban and they would suffer irreparable harm if it took effect.
“The court has determined that the 2014 Law is invalid.”
Last month, Christie attempted to revive the state’s push for sports betting by signing a law that partially repealed New Jersey’s ban on wagering in the state. states.
presidential candidate Donald Trump’s percentage points in next week’s New Hampshire primary.
The American Gaming Association said it expects Americans to bet $4.2 billion on the Super Bowl, up 8 percent from last year. MGM Resorts International, which operates 10 sports book on the Las Vegas Strip, expect most bets to come during the final 24 hours before kickoff but admitted a trend is in place.
Denver, who have 39-year-old future Hall of Famer Peyton Manning at the helm of their offense, are seeking a third title in their record-equaling eighth Super Bowl appearance.
“A Broncos win wouldn’t be disastrous, but it wouldn’t be the best-case scenario for us.”
“If it continues to pace the way it’s pacing we’re going to be massive Broncos fans. We’re going to want the favourite-to-win-but-not-cover scenario,” Jay Rood, vice president of the race and sports book at MGM Resorts, told Reuters.
Aside from more traditional bets, gamblers can take a chance at proposition bets, like deciding which team will score first and what color liquid will be poured on the winning coach.
Among some of the more unique proposition bets are whether there will be an earthquake during the game in Santa Clara, California, and whether the total points scored by the victor will be higher or lower than U.S. Nearly 97 percent of those bets, or $4.1 billion, will be wagered illegally, according to the AGA.
While billions will be wagered on the Super Bowl, only a portion of the funds will be devoted to the actual winner.
Carolina, appearing in only their second Super Bowl, will be relying heavily on the NFL’s highest-scoring offense led by Cam Newton in their quest for a maiden title.
(Reporting by Frank Pingue in Toronto; Editing by Steve Keating)
Las Vegas casinos aren’t against Denver Broncos quarterback Peyton Manning winning a Super Bowl in what is likely his final game but prefer the Carolina Panthers deny him a fairytale finish without covering the spread.
If top-seeded Carolina win the National Football League’s title game on Sunday and cover the 5-1/2 point spread it will be much less favorable for the house than if Denver were to lose the game and stay within the spread.
Sports bettors wagered $116 million in Nevada on last year’s Super Bowl, down 2.8 percent from the record $119.4 million spent the previous year when the Seattle Seahawks routed Denver.
Once you have identified horses that have proven they can win at the distance, surface, and level, find out if the horse who is the likely favorite in the race has done the same thing.
It is amazing how many times you will find a race where the favorite has not done what is being asked of it but another horse, going off at long odds, has done it. If you have the ability to watch the pools and spot inside money it is also helpful to know if the barn is betting that longshot.
But when a longshot does win, somebody cashes tickets on that winner. So the real secret to making money on longshots is finding a person who can spot a good longshot bet in the racing form or program and then make money from the bet.
Next, look at each one of these racers and see if it has ever won at the distance, on the same surface, and at the same class level or higher. This is the single most important clue to finding a good bet on a horse going off at long odds.
Every day, at race tracks all over the world, people are surprised when horses win races even though the horse has done it before under the same conditions. Now comes the tricky part. Is it coming back from a long layoff? Does its form seem to have tapered off?
What you are trying to find out is if that horse can improve today and also if the favorite is a false favorite. Handicapping horse races for profit and trying to make money betting on races is hard enough without going after those horses who seem so unlikely to win.. The goal of playing the ponies is to make money, a profit. Do you ever wonder who had the horse and if it is all the people who just play their lucky number? Does it ever occur to you that someone actually looked at the racing program and picked that horse to win for a reason?
While most people would agree, after a few trips to the horse races, that long shot bets are where the money is, however, after losing money trying to win a few, most will agree they are also difficult to hit. Since horses go in and out of form and also respond to training and equipment changes, any horse that once managed to do what is being asked of it today should be considered a threat especially when the favorite is vulnerable.
There is no one single formula for finding good long shot bets, but there are a few clues. Before the races, go through the racing form and find every horse that is in the morning line at 10-1 or higher.
It does happen sometimes, but before you declare that person a genius, find out if he or she is ahead on his or her bets. Figure out why the horse you circled is now a long shot if it has indeed proven itself capable of winning a race such as today’s race. Now circle each horse that qualifies
Fractional odds of 1/1 are an even bet. They are the ratio of the amount won to the stake – the solidus “/” is pronounced “to” for example 7/1 “seven to one”. They are the ratio of the full payout to the stake, in a decimal format. If any of the four bets fails to cover, the bettor loses the parlay, but if all four bets win, the bettor receives a substantially higher payout (usually 10-1 in the case of a four-teamer) than if he made the four wagers separately.
Progressive parlays. A 2nd half (Second half) bet is also sometimes called a halftime bet. As the story goes, professional gambler Joseph Sullivan paid eight members of the White Sox (The players involved were Oscar Felsch, Arnold Gandil, Shoeless Joe Jackson, Fred McMullin, Charles Risberg, George Weaver, and Claude Williams) around 10,000 dollars each to fix the World Series. Peter J. 55 Austrian tennis player, Daniel Koellerer, became the first tennis player to be banned for life for attempting to fix matches. US odds of 100 are an even bet.
1 Types of bets
1.1 United States of America
Corruption in tennis has been long considered as issue. In 2011, the former world No. An if bet consists of at least two straight bets joined together by an if clause which determines the wager process. Before game 5 of the 2012 NBA Finals, the Miami Heat were expected to beat the Oklahoma City Thunder. Such a bet must be made before the season starts in September, and winning bets will not pay off until the conclusion of the Super Bowl in January or February (although many of the losing bets will be clear well before then and can be closed out by the book). (Boyd, 1981)
Friendly political wager
Sports betting systems
Statistical association football predictions
The Cronje Affair was an India-South Africa Cricket match fixing scandal that went public in 2000. It began in 1996 when the-then captain of the South African national cricket team, Hansie Cronje, was convinced by Mukesh “John” Gupta, an Indian bookmaker, to throw a match during a Test in Kanpur, India. Moves Towards Legal Sports Betting This Fall, in Time for NFL Season”. Naturally the more money bet on a certain result, the smaller the odds on that outcome become. In addition, on August 2010, he facilitated betting by placing odds for matches and had links for placing bets.
Types of Supporter
^ “18 USC Ch. Odds for such a bet generally are expressed in a ratio of units paid to unit wagered. “N.J. (For instance, Mickey Mantle and Willie Mays were both banned from baseball in 1983 after taking jobs as casino greeters (which would have expelled them from the Hall of Fame had it been allowed to stand); they were reinstated two years later. In addition, there was a significant gender split: a majority of men approved of the idea by a wide margin (65-21), while only 39% of women approved and 41% opposed. The October results were stable, reflecting an earlier poll in April 2011 where New Jersey voters approved the legalization of sports betting in the state by a margin of 53%-30%. The favoured team pays lower odds than does the underdog.
Spread betting are wagers that are made against the spread. 19 June 2014. Rosenthal was able to retain these winnings despite the final outcome of the game due to gambling regulations previously established by the NAGRA.
In 2012, despite federal law preventions, the state legislature of New Jersey and Governor Chris Christie signed a law that would allow sports betting to take place in New Jersey race tracks and Atlantic City casinos. In August 2012, Fairleigh Dickinson University’s PublicMind conducted a study on the issue. In-play betting is a feature offered by some online sports books that enables bettors to place new bets while a sporting event is in progress.
Main article: Bookmaker
Interestingly for New Jersey, in a national poll released in December 2011, Fairleigh Dickinson University’s PublicMind asked voters whether they “support or oppose changing the federal law to allow sports betting” in their respective states. Woolley commented on the results: “If some states allow sports betting and profit by it, other states will want to follow.” Yet by December 2011 after NJ passed its sports betting referendum the national measure shifted to 42-42. In January 2012, New Jersey Governor Chris Christie signed legislation allowing sports betting in New Jersey after it was approved in a nonbinding voter referendum in 2011 and he announced on May 24, 2012 that he plans to go ahead and set up a system of wagering at the state’s racetracks and casinos this fall, before the National Football League season ends.
Famous betting scandals
Betting on the Favorite, an 1870 engraving published in Harper’s Weekly
Joseph J. Journal of Prediction Markets. ABC News.
^ a b Fairleigh Dickinson University’s PublicMind, (December 19, 2011). Woolley commented: “But…younger voters… Sports Betting, Sure Thing; Internet Betting, Nyet! (press release)
^ Fairleigh Dickinson University’s PublicMind, (April 20, 2009). The frequency of sports bet upon varies by culture, with the vast majority of bets being placed on Association Football (Soccer), American Football, Basketball, Baseball, Hockey, Mixed Martial Arts, and Boxing at both the amateur and professional levels. While all sports wagers are by definition on future events, bets listed as “futures” generally have a long-term horizon measured in weeks or months; for example, a bet that a certain NFL team will win the Super Bowl for the upcoming season. One example are Formula One races, where you bet on two or three drivers and their placement among the others. Successful bookmakers must be able to withstand a large short term loss. Results showed that nearly half (45%) of voters wanted to allow sports betting, while (38%) decided to wait and allow sports betting once Congress allows it. US format odds are the amount won on a 100 stake when positive and the stake needed to win 100 when negative. UK format (fractional odds) are used by British bookmakers. Woolley, professor of political science and director of the poll commented on the findings, “Gambling has become, for good or ill, a national industry, and you can bet that politicians and casinos all over the country are closely following New Jersey’s plans.” In a different study released by FDU’s PublicMind in October 2011, results showed that New Jersey voters thought legalizing sports betting in New Jersey was a good idea. US Public: Keep Las Vegas in Las Vegas (press release)
^ Coffey, Sarah (May 25, 2012). Modern research has suggested that the claims of betting were unsubstantiated.
On December 7, 1980 the San Francisco 49ers overcame a halftime deficit of 28 points in what became the greatest regular season comeback victory in NFL regular season history. Legal sportsbooks take vigorish from bettors of both teams, paying a winning bettor a little under 2/1 in an even contest. However, voters who already live in households where family members (including themselves) engage in sports betting had a strongly favored legalization of sports betting (71%-23%), while voters in households where sports betting is not an activity, opposed legalization (46%-36%). Sometimes you can also bet a “tie”, in which one or both drivers either have the same time, drop out, or get disqualified.
Totalizators. Illegal bookies, however, pay the winning bettor even money while making the losing bettor pay the vigorish exclusively. The bettor can adjust the point spreads for the two games, but must get all the games correct to win and recognizes a lower return in comparison to parlays.
If bets. Odds are also quite often expressed in terms of implied probability, which corresponds to the probability with which the event in question would need to occur for the bet to be a break-even proposition (on the average).
Collegiate sport rituals
Types of bets
See also: Glossary of bets offered by UK bookmakers
United States of America
Odds for different outcomes in single bet are presented either in European format (decimal odds), UK format (fractional odds), or American format (moneyline odds). house.gov.
^ Fifth Circuit ruling – PDF file
^ (Davies, 2001)
^ Cortis, Dominic (2015). The spread, or line, is a number assigned by the bookmakers which handicaps one team and favors another. Betting the Line Columbus, Ohio: The Ohio State University Press ISBN 0-8142-0880-0
Finley, Peter (2008). The resulting bet that is placed is won or lost only on the points scored by both teams in the second half only.
In-play betting. This bet is placed only at halftime of a particular sporting event. “NFL and ICC’s Stance on Betting”.
^ Finley, 2008
^ “Famous Cricket Spot-Fixing and Betting Scandals”. Gambling in America–An Encyclopedia of History, Issues, and Society Santa Barbara, CA: ABC-CLIO ISBN 1-57607-159-6
Sportsbetting has resulted in a number of scandals in sport, such as the 1919 World Series, the alleged (and later admitted) illegal gambling of former MLB player Pete Rose, and former NBA referee Tim Donaghy, effecting the integrity of sports events through various acts including “point shaving” (players effecting the score by missing shots), bad calls from officials at key moments, and overall match fixing (“the fix is in”).
Media related to Sports betting at Wikimedia Commons
In the United States of America, it is illegal to operate a betting scheme, except in Nevada, Oregon, Delaware, and Montana. In many European nations, bookmaking (the profession of accepting sports wagers) is regulated but not criminalized. For example: If the bookmakers return percentage is 90%, 90% of the amount placed on the winning result will be given back to bettors and 10% goes to the bookmaker. Retrieved 22 June 2013.
^ “How Hansie Cronje became most infamous villain in cricket’s fixing scandals”. These bets feature a fixed point spread that (usually) offers a higher payout for the favorite and a lower payout for the underdog (both in comparison to the moneyline).
Future wagers. 12 June 2013. 26 May 2010. Retrieved May 27, 2012.
^ Rob Tornoe, for NewsWorks (17 August 2012). All eight players were banned from playing professional baseball for the rest of their lives.Pete Rose, the all-time MLB leader in hits, was similarly banned from baseball in 1989 for betting on games while he was a MLB manager.
The probability implied by the odds should be greater than the true probability for each possible outcome to guarantee positive expected profit.
If the wagers on each outcome are made in ratio to the implied odds, then the bookmaker is guaranteed a profit (balanced book).
From Wikipedia, the free encyclopedia
Sports betting is the activity of predicting sports results and placing a wager on the outcome. Although the common stereotype is that these bookies were of Italian descent, many leading bookies were of eastern European ancestry.
The bookmaker functions as a market maker for sports wagers, most of which have a binary outcome: a team either wins or loses. The PublicMind’s 2010 national survey found that 67% of Americans did not support the legalization of Internet betting websites in the United States whereas 21% said they would support legalization. The National Football League is fully against any sort of legalization of sports betting, strongly protesting it as to not bring corruption into the game. Dr. Just as many voters approved (42%) as opposed (42%) allowing sports betting. The violations were outstanding between October 2009 and July 2010 after The Tennis Integrity Units had launched an investigation on behalf of the International Tennis Federation and the ATP and WTA tours. Many of the illegal proceeds also allegedly go to fund terror, drugs and other illegal activities.
Association football culture
Australian rules football culture
Davies, Richard (2001). 9.
^ “Sports Betting”. My Prison Without Bars St. Only Rose has yet to be reinstated.
In Asian betting markets, other frequently used formats for expressing odds include Hong Kong, Malaysian, and Indonesian-style odds formats. For example, a bettor could include four different wagers in a four-team parlay, whereby he is wagering that all four bets will win. These are wagers offered as alternatives to straight-up/moneyline prices in baseball, hockey, or soccer, respectively. “Sports News”. The Federal Wire Act of 1961 was an attempt by the US government to prevent illegal bookmaking. However, this Act does not apply to other types of online gambling. The Supreme Court has not ruled on the meaning of the Federal Wire Act as it pertains to online gambling.
. To attempt to make wagering on the underdog desirable, the bookmaker will give them points. This creates a number of other criminal elements, thus furthering their illegality.
Sports bettors place their wagers either legally, through a bookmaker/sportsbook, or illegally through privately run enterprises referred to as “bookies”. The team wagered upon might be 50-1 to win the Super Bowl, which means that the bet will pay 50 times the amount wagered if the team does so. The scheme was discovered when Delhi police recorded illegal dealings between Indian bookmaker Sanjay Chawla and Cronje. If the player’s first selection complies with the condition (clause), then the second selection will have action; if the second selection complies with the condition, then the third selection will have action and so on.
Run line, puck line, or goal line bets. are far less likely to vote than other voters… Sports betting can also extend to non-athletic events, such as reality show contests and political elections, and non-human contests such as Horse Racing, Greyhound Racing and illegal, underground Dog Fighting.
The majority of legal sportsbooks are found online, operated over the internet from jurisdictions separate from the clients they serve, usually to get around various gambling laws (such as the Unlawful Internet Gambling Enforcement Act of 2006 in the United States) in select markets, such as Las Vegas, Nevada, or on gambling cruises through self-serve kiosks. A Nation of Bettors? (press release)
^ Fairleigh Dickinson University’s PublicMind, (October 10, 2011). However, nearly two-thirds (66%) of voters were not aware of the upcoming statewide referendum on the issue.
In areas where sports betting is illegal, bettors usually make their sports wagers with illicit bookmakers (known colloquially as “bookies”) and on the Internet, where thousands of online bookmakers accept wagers on sporting events around the world. Expected Values and variance in bookmaker payouts: A Theoretical Approach towards setting limits on odds. A teaser allows the bettor to combine his bets on two or more different games. Age proved to be a divide: Voters between the ages 18-34 were more likely to approve of sports betting than older voters. Sports Scandals Westport, Connecticut: Greenwood Press ISBN 978-0-313-34458-9
Boyd, Kier (1981). This is the most common type of bet in sports.
Proposition bets are wagers made on a very specific outcome of a match. Legalized Sports Betting in New Jersey
^ Fairleigh Dickinson University’s PublicMind, (March 11, 2010). For him to win his bet, Miami would have to win the game by 4 points or more. In the above example, if the bettor chose Miami, he would subtract 3 points from Miami’s final score and compare that to Oklahoma City’s final score. This is similar to parimutuel wagering in horse racing and dog racing.
2nd half bets. The term book is a reference to the books used by wagebrokers to track wagers, payouts, and debts.
5 Famous betting scandals
6 See also
9 External links
Retrieved from “https://en.wikipedia.org/w/index.php?title=Sports_betting&oldid=734832111″
Bookmakers usually hold an 11-10 advantage over their customers–for small wagers it is closer to a 6-5 advantage–so the bookmaker will most likely survive over the long term. 1. This bet can be placed on the spread(Line) or over/under. In 2004 and 2006, Koellerer was banned for six months due to his bad behavior. In general, most sportsbooks will prefer this type of wager due to the low win-probability, and also the longer period of time in which the house holds the player’s money while the bet is pending.
Head-to-Head. Opinion divided, but majority give the state the green light to allow sports betting in defiance of federal law (press release)
^ Fairleigh Dickinson University PublicMind Poll “US Public: Keep Las Vegas in Las Vegas” press release (March 2010)
^ Shriver, Roger. They were often descendants of the influx of immigrants coming into the USA at this time. The bookmaker accepts both wagers, and maintains a spread (the vigorish) which will ensure a profit regardless of the outcome of the wager. On the other hand, the CEO of the International Cricket Council believe sports betting, in particular in India, should be legalized to curb illegal bookies where match fixing has occurred from nontransparent bookmakers. The National Law Review. In totalizators (sometimes called flexible-rate bets) the odds are changing in real-time according to the share of total exchange each of the possible outcomes have received taking into account the return rate of the bookmaker offering the bet. Half of New Jersey voters (52%) said that they approved the idea of legalizing sports betting at Atlantic City casinos and racetracks, 31% opposed it. To determine who wins against the spread, the line is either added or subtracted from a team’s final score. This series would go down as one of the biggest sports scandals of all time. They take bets “up-front”, meaning the bettor must pay the sportsbook before placing the bet. It must also be noted that both bookmakers use other methods to increase profits by enticing bettors with greater winnings at higher risk to the bettor (teasers, parlays, adjusting point spreads, etc.).
Many of the leading gambling bookmakers from the 1930s to the 1960s got their start during the prohibition era of the 1920s. Retrieved 20 October 2014.
Moneyline bets do not have a spread or handicap. In these bets, bettor predicts competitors results against each other and not on the overall result of the event. European format (decimal odds) are used in continental Europe, Canada, and Australia. Krista Jenkins, director of the poll commented; “Although support is not overwhelming, these numbers suggest the public is cautiously behind the goal of moving forward with legalized sports betting.”
Many on-line tools also exist for automated conversion between these odds formats.
Philosophy of sport
Racism in sport
North American sports
1 in 1.5 = 67%
1 in 2 = 50%
1 in 2.5 = 40%
1 in 3 = 33%
x-1, then convert to fraction
100*(x-1) if x>2; -100/(x-1) if x<2
divide fraction, then x+1
divide fraction, then 100*x if x>=1; -100/x if x<1
(x/100)+1 if x>0; (-100/x)+1 if x<0
x/100, if x>0; -100/x, if x<0
x if x>=1; (1/x)*-1 if x<1
x if x<=1; (1/x)*-1 if x>1
Cultures by sport
In 1919, the Chicago White Sox faced the Cincinnati Reds in the World Series. As always, a lot depends on who actually shows up to vote.” In February 2011 FDU’s PublicMind released a poll which showed that half (55%) of voters agreed “that people bet on sports games anyway, so government should allow it and tax it.” On the other hand, approximately (37%) of New Jersey voters concurred that betting on sports is “a bad idea because it promotes too much gambling and can corrupt sports.” Again, by a significant margin (70%-26%) that voters who already engage in sports betting in office pools tend to be more supportive of legal sports betting than other voters. Donald Hoover, FDU professor in International School of Hospitality and Tourism Management and former casino executive commented on the results; “Betting on sports is not an uncommon practice for many New Jerseyans, but for the most part, the state doesn’t supervise it, doesn’t tax it and doesn’t take any revenue from it.” In 2010 a national poll, results showed that voters opposed sports betting in all states by a margin of 53-39. By the beginning of the third quarter, notorious Vegas bookmaker Frank Rosenthal received forfeiture notices from 246 San Francisco bettors totaling more than $25,000 in premature winnings. American Gaming Association.
^ ABC News. The NCAA has threatened to ban all playoff games in Delaware if the state allows betting on college sports. New Jersey, which is also interested, has been similarly threatened.
Aside from simple wagers (for example, betting a friend $20 that one’s favorite baseball team will win its division), sports betting is commonly performed through a bookmaker (bookie) or through various online Internet outlets. Examples include predicting the number of goals each team scores in a handball match, betting whether a player will score in a football game, or wagering that a baseball player on one team will accumulate more hits than another player on the opposing team.
Parlays involve multiple bets (usually up to 12) and will reward a successful bettor with a large payout. NJ Voters Favor Sports Betting, but not Tax Credits for Meadowlands Developer (press release)
^ Fairleigh Dickinson University’s PublicMind, (April 18, 2011) Odds Favor NJ Referendum on Sports Betting (press release)
^ Fairleigh Dickinson University’s PublicMind, (February 21, 2011). Gambling Technology Washington, DC: FBI Laboratory
Rose, Pete (2004). 31 May 2011. The many types of bets include:
The rule against gambling in baseball is known as “Rule 21,” which is publicly posted on dugout walls and states: “Any player, umpire, or club or league official or employee, who shall bet any sum whatsoever on any baseball game in connection with which the bettor has a duty to perform shall be declared permanently ineligible.” People permanently banned from Major League Baseball are also forever banned from entry into the Baseball Hall of Fame, although most such people have been reinstated a few years later by a later Commissioner of Baseball. “Sports betting should be legal in the Garden State”. Illegal bookies, due to the nature of their business, can operate literally anywhere but only require money from losing bettors, creating the possibility of debt to the bookie from the bettor. Newsworks.org.
^ Fairleigh Dickinson University’s PublicMind, (August 21, 2012). According to the Telegraph in 2010, Cronje was paid off a total of £65,000 from Gupta.
Wagebrokers both legal and illegal make a profit by taking a percentage of all money bet, called a vigorish (vig), juice, rake, or action. The line read: Miami -3, Oklahoma City +3. Retrieved 22 June 2013.
^ “No sport easier to fix than tennis”. Decimal odds of 2.00 are an even bet. For example, in the NBA, when two teams play each other, one is perceived as being more likely to win. Retrieved 7 November 2014.
^ “Daniel Koellerer banned for life”. Voters were asked whether New Jersey should allow sports betting even if federal law prevents it from doing so, or wait to allow sports betting until federal law permits it. Martin’s Press ISBN 1-57954-927-6
Thompson, William (2001). “Sport” Sullivan was an American bookmaker and gambler from Boston, Massachusetts who helped to initiate the 1919 Black Sox Scandal.
Sporting man culture
In setting Odds, the bookmaker is subject to a number of limitations:
A 1906 betting scandal between the Massillon Tigers and Canton Bulldogs, two of the top teams in professional American football in the early 1900s, led to the demise of “big-money” professional football for several years. 50: GAMBLING”. However, in a progressive parlay, unlike a regular parlay, a reduced payout will still be made even should some of the bets lose.
Teasers. A progressive parlay involves multiple bets (usually up to 12) and rewards successful bettors with a large payout, though not as large as normal parlays