Betting on Sports – 6 Winning Rules by Don Stark

Research several sports books thoroughly and compare the numbers. It’s a proposition for losers only, so don’t do it. If you’re sick, you go see a doctor.

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. To be done properly (and profitably), here are some very crucial rules one must follow. 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. Watching ESPN and/or reading opinionated articles by sports writers on the Internet is not the proper way to do your homework. If you bet 3 teams straight action and only win 2 of the 3, you’ve just made money. One of the best ways to win at sports wagering is to maybe find your own special niche and then follow it closely.

Rule #4 – DO NOT Play Parlays or Teasers – Parlays, teasers, and other exotic wagers are offered for a reason. Unexplainably, wins and losses often times run in streaks, so slowly increase your bets on a hot streak and back off on cold streaks. Stick to straight action only. Always look for the best prices or the best numbers. If you set aside $1,000 for gambling, your individual bets should be in the $20 range and no 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. Drugs (legal or otherwise) and alcohol can cloud your judgment and will lead you into making decisions that you normally wouldn’t make. 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. If you’re serious about winning more bets than you lose, you should listen to a professional.

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. 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. To be successful at anything, your mind needs to be 100% clear and functional. However, there is an elite third group out there who bet sports with one and only one purpose in mind…to make money. If you’re winning, the 2% per wager automatically increases as your bankroll increases. That gives you an automatic advantage over the bookie, so use it to the fullest extent. 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. Stick with 2% and never double up and chase lost money.

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. 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%. Hook them all together in a parlay and you must win all 3, or you’re sunk. Whichever group you fall into, sports wagering must be treated the same as any other financial investment. 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. . 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. Secondly, never wager more than 2% of your total bankroll on any single wager. 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. 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. 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.

Rule #3 – Spend Some Time Shopping – This can be compared to shopping for a new car or even for groceries.

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. Since you’re reading this, you’re probably part of that majority. Then, before making your wager(s), check each book and always take the best number on your particular event. Conversely, if you’re on a losing streak and the bankroll goes down, the size of your bets will decrease accordingly.

People all over the world love to bet on sports. 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

Congress in a race with states to pass online gambling law | Reuters

market to reach $10 billion a year by 2017 from about $4 billion in unauthorized gambling in 2011.

According to the American Gaming Association, about 85 countries have legalized online gambling and an estimated $35 billion is being bet worldwide online each year, including by millions of people in the United States.

Nevada is expected to be the first state to go live with online gaming, likely by summer, according to regulatory and industry experts. “But there is still time for Congress to step in and provide a federal solution.”

New Jersey’s legislation allows for a broad array of games, including online slots, blackjack and other table games. New Jersey Governor Chris Christie signed legislation on February 27 authorizing online gambling in an attempt to help the state’s struggling casino industry and generate casino tax revenues.

Similar efforts by Senate Majority Leader Harry Reid and former Senator Jon Kyl (R-Arizona), backed by the casino industry, fizzled last year. AGA projects the U.S. Many others are considering it. The Reid-Kyl bill faced stiff opposition from Republicans and several states’ governors and others who felt it unfairly favored Nevada by giving it too much regulatory clout and a cut of the regulatory fees.

“I think the states’ passage gives some incentive to the federal government to act,” said Representative Joe Barton (R-Texas), who introduced an online poker bill in 2011 that failed. He plans to introduce a bill this spring.

Proponents of a federal law say it would create uniformity and impose safeguards against fraud, while opponents say it would usurp states’ power and siphon off badly needed revenues.

New Jersey is the most populous state to approve online gaming, following Delaware and Nevada. The state plans to take 15 percent of the amount won by online casinos from players within its borders. You want uniformity.”

“We should have done it on a federal level … An Illinois senate committee filed a bill earlier this week that could authorize online gambling there.

LOS ANGELES States racing to legalize online gambling may soon be overtaken by the federal government, as efforts to pass a national bill begin to come together.

Draft federal legislation over the past few years would divide tax revenue between the federal government and states where the bettors reside and the state where the legal website is located. we are going to try to figure out a way forward,” said Reid at a recent press conference.

Several states are also trying to figure out how to band together to attract more gamblers.

That effort was sidetracked as both parties concentrated on the election, gambling executives and political officials said. Reid and Senator Dean Heller (R-Nevada) say they intend to try it again.. The state will only allow poker.

To date, proposed federal legislation has sought only to regulate Internet poker and prohibit other forms of online gambling.

Congressional efforts have picked up as more states move forward with their own bills. Nevada intends to keep 6.7 percent.

Legislation in the House is likely to be introduced this spring. Some proposals allow the federal government to take 5 percent to 10 percent of the tax revenue.

Prior federal efforts have also drawn steadfast opposition from religious groups such as the National Association of Evangelicals and the Southern Baptist Convention, which blasted the draft legislation circulated last year.

(Reporting by Susan Zeidler; editing by Prudence Crowther)

“Senator Heller believes federal legislation for online poker is crucial, and will continue to work with Senator Reid and like-minded colleagues to get a bill passed,” said Chandler Smith, Heller’s communications director.

“We will be prepared with our offerings for Nevada and hopefully New Jersey,” said Seth Palansky, a spokesperson for Caesars Interactive Entertainment. Senate Majority Leader Harry Reid (D-Nevada), whose long-advocated federal legislation never got introduced last year, is working behind the scenes to form a coalition to support the measure.

Caesars and other large casino operators like MGM Resorts International Ltd have long promoted federal legislation, as it would offer a larger, more uniform and liquid market.

“Whether you’re for or against Internet gambling,” said Barton, “you don’t want 50 sets of state laws

Nevada gambling regulators approve new fantasy sports model

Her work can be found at http://bigstory.ap.org/journalist/sally-ho.

“It’s so transparent and open,” commission chairman Tony Alamo said of US Fantasy, which will offer 11,000 sports events for betting annually and open later this year.

DraftKings operates in dozens of states, according to company spokeswoman Femi Wasserman. But an industry leader predicts it won’t have a major effect on fantasy sports overall because it may only work in Nevada, where sports betting is already legal.

Peter Schoenke, chairman of the Fantasy Sports Trade Association representing 300 operators, said he has not seen US Fantasy’s system.

___

The industry has lobbied states to approve laws that would allow them to operate without legal ambiguity.

US Fantasy owner Vic Salerno said it could easily be reframed to fit states that have approved guidelines allowing fantasy sports to operate. So far, Virginia, Indiana, Tennessee, Missouri, Mississippi and Colorado legislators have done so, while New York’s governor has yet to sign off on the state’s version.

In the US Fantasy system, users will bet against each other on individual player stats, with a pot of prize money that can change depending on how many people are wagering and how much they bet. Using football as an example, someone can bet that Tom Brady will throw the most yards that week.

The Nevada Gaming Commission gave a gambling license to Henderson-based US Fantasy, calling it a fair model as daily fantasy sports businesses such as DraftKings and FanDuel stand accused in several states of operating as illegal, unregulated betting systems.

“Is it truly a fantasy game or some sort of contest or instrument that is a regular gambling product? The industry is curious what exactly it is,” Schoenke said.

Follow Sally Ho at twitter.com/_sallyho. In the football example, Brady’s performance would help rack up points along with the rest of the players of the imaginary team.

“It doesn’t feel like fantasy if you’re not putting up your knowledge against someone else,” Schoenke said.

Several states over the past year have challenged the fantasy sports industry, which first drew widespread scrutiny last year amid a flurry of advertising that promised the savviest sports fans millions of dollars in payouts. She declined to comment on the US Fantasy proposal but said its payout system is not the same as the Boston-based company’s model. New York-based FanDuel didn’t respond to a request for comment.

LAS VEGAS (AP) — A new gambling platform approved by Nevada regulators Thursday will further blur the lines between traditional sports betting and fantasy sports contests, an industry that insists its games are not gambling in the face of legal challenges across the country.

In Nevada, regulators had urged fantasy sports sites to apply for gambling licenses, a move the industry opposes as too costly and time consuming.

The hallmarks of fantasy sports are analyzing professional sports players’ stats and camaraderie among contestants in a league, he said. But they differ in how they pay out winners and whether they believe their business model constitutes gambling.. Neither is required with Salerno’s hybrid platform, though “fantasy sports” is a loose term that does not have a uniform definition, he said.

In traditional fantasy sports, users generally pick a group of players to create a team, and if they win, they know they are getting an established payout. DraftKings and FanDuel ceased operations in states such as Illinois, New York and Nevada.

Like DraftKings and FanDuel, it will allow people to bet on their picks of the top professional sports players and win money based on the athletes’ performance