This usually includes having up-to-date power ratings on each team. By necessity their approach is very research-oriented and concise, since with millions of dollars at risk there is little margin for error. We do this by drawing from past experiences and applying them to current situations. Reasons for such adjustments include:
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. Examples of non-game factors that would require an adjustment to a team’s power rating are key player injuries and player trades. For example, the public might have heavy betting interest week after week on a popular college football team such as USC. The power ratings are adjusted after each game a team plays.
“You either have a passion for it or you don’t,” Seba said.
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 main objective is that our clients get equal action on both sides,” Seba said. 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). 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’). In doing so they attempt to make more attractive the team that is getting less action.
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. “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). 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.
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)
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.
The purpose of these adjustments, like all line adjustments, is to more equally divide the betting action. Oddsmakers have to determine if any changes are necessary and send out an “adjusted line.”
Since the oddsmaker’s ultimate goal is equally dividing the betting action, public perception and betting patterns must be taken into account.
Why the Line Changes
Oddsmakers can also change the line depending on various event-related factors such as player injuries or weather.
The opening line is the first line created by the oddsmakers, which is then sent out to sportsbooks. By moving the line, sportsbooks can influence how the public bets on a particular game. 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. Of course there is an entire method to the madness on how the opening line is created. Seba explained that it all starts with each oddsmaker creating a line on each game based upon their own personal approach. People think it’s much more complicated, but it’s not.”
Las Vegas Sports Consultants (LVSC) is the world’s premier oddsmaking company and the most respected authority on making the lines.
What Is the Line Trying to Accomplish?
“The #1 thing for us is to make a line for each game that creates good two-way action.
Once betting begins, sportsbooks can adjust the line at any time. If we’ve done that, we’ve done our job.”
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. Mike Seba is a Senior Oddsmaker at LVSC and has been making lines for the last six years. 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.
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. 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. Each of these oddsmakers bring unique opinions, strengths and weaknesses to the process.
How the Opening Line Is Made
Experts working for the individual books having a strong opinion on the game
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).
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. 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. 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.
There is a common misconception that point spreads represent the oddsmakers’ prediction of how many points the favorite will win by.
We have been in all the epicenter and now we are expecting Euro 2016 Finals in France. Even some of the home team Ultras went in front of the hotel of the Bulgarians and flamed piro effect, which was very cowardice and mousy thing to do. But now I am here and I am about to give and expand the best of me. I decided to play , make a little questionnaire with you – my readers and visitors. All of us are happy because the UK Premiership had started yesterday. There has been a lot if interesting moments and game during the past weekend. Maybe Liverpool were very close to ruin that Spanish SuperCup Final, but Sevilla just made a remarkable turn-about. You may think that this is about the players of the wish for dominance, both giants in sports do have and had. Yes it is also about the spread and immense influence over the fans and normal people. They wanted to scared the “eagles”, but ….. Tomorrow we be a great game to come. Legends and remarkable gladiators, …
Good evening , dear friends. The section great football derbies on the blog has been covered with dust for a period of 6 months. In my experience as a trader, I always preferred to trade live games, not just changing odds for pre- match compiling of figures and stats. When you say Italy and Spain are playing , you figure out fast in your mind such names as : Casillas, Buffon, Di Maria, Baggio, Baquero, Guardiola, Vialli, Maldini, Donadoli, Paolo Rossi and many other. Yes, I know now are the Olympics going Rio , but my focus is elsewhere. In such cases , I leave you the free choice to take the direction, which you think should be a correct one. But this is football and that is why we love it so much and love to bet on it… When …
Good morning, dear fans. As bettors and fans, most of us , had watched all of the games, been to some of the stadiums and made a lot of bet on all popular and not that popular markets. A game that had everything in it. I feel it , like a special place, where I would like and I am doing my best to share with you all the experience I have in betting and in different sports. Since I was a very little boy at the age of 10 , I liked watching Italian football, because of the passion on the stands-fans chanting all the 90 minutes and because all the legends , I have watched – Vialli, Baresi, Donadoni, Nesta, Veron, Bepe Signori , Gabrial Batistuta, Maldini, Schilaci, De Livigho, Nedved, Diego Armando Maradona,Crespo, Roberto Baggio and many more ? Lets take a rest from the Italian football and get concentrated on what we are about to bet and watch today. Weekend is a special place and time, for us – bettors, punters and sports traders. My odds provider and betting partner William Hill is serving us some good odds on nice games tomorrow. Those two teams met in the last final of the European Finals. It has been a long time since my last post. It will be a very interesting and intense weekend, especially when we will be about to watch and get thrilled …. First game in Razgrad ended 2-2 and no one convinced the visiting squad to be the winner after the second game, which has been expected to be played against 50 000 fanatic fans of the Serbian team. We, as a sports betting society and team of men and women, searching for the most appropriate outcome, are kind of a strange birds. How do you feel today ? What will your best bet be on the upcoming FA cup games? I would like to ask you so many questions. The good manager can leave a permanent sign, a trace for all the next generation of fans, managers and football players all around the continent. This post will be about one of the …
Goo day , dear tipsters, bettors , handicappers or just devoted fans. The football program for today is very rich and intensive, but these two games have gathered my attention. I am convinced it will be a perfect one as one f the best games of this Euro 2016 tournament is about to be played later on. Yesterday night we saw several nice games from the Champions League elimination round, one phase before the true games for entering the Group stage. I am actually fan of Levski Sofia, this is my team and this is where my heart belongs to. If it is not, I am always open and friendly to take someone on the board of my space ship. His glory will reach the most far away parts of our planet, just before you could pronounce his whole name. But lets try to stick to the main line of the post – the top 4 European countries and their Football Championships: England – actually , I like most watching football from Italy , but this season was a great surprise what have happened there on the Albion. You saw and read in the heading of the article – immortal powers.. I want to see and read who is standing on the other hand of the monitor, who you are and why you come back or you never return. When you see the names of the teams in the header, I guess the first thing that occurs in your mind is – total Spanish dominance. I have prepared for you 2 games.
Good evening, dear readers and friends. Levski are in crisis, not capable to overcome Maribor from Slovenia after two draw games. Unfortunately Italy lost, but other team of Spain was simply hard to be beaten. They have the good faith of the owners of the clubs to invest, hire, demolish or raise -up teams . I want to make this blog better with your help. England does not have a good national team, but the UK, Premier League is one of the best Championships around the globe, not only in Europe. Do not get me wrong, I like also to watch football from Germany , Spain and France, but my main focus and betting experience is focused on Italy and England. It is nice when there are plenty of football games to watch and to bet on. Today I will add one more. I have promises you in some other article , not long ago that I will focus my efforts on 2 games. I will give my best to direct you to winning outcomes and happy …
Hello all ,it is me again. Audience, public, fans and people who have …
Hello, dear beloved fans of betting, sports addicted men and women and just visitors of this blog. I call it space ship, because we are travelling in the world of bets , sports, live betting and of a recognition of good and noble bookies, which deserve our attention and money. But …
Good morning, dear punters. One team, who was close to relegation , played several seasons ago in the Championship, had pointed out and …
Good day , dear friends. Somehow in the top Championships in football, in these both countries the competition is balanced between …
Good day to everyone. The coaches which have that power as the Roman Emperors did back in the days. Everyone is free to chose, the most suitable bookie from the banners in my blog. To clean the dust and take everything in order is not such an easy process. The theme of today theme is another. A whole week labor and effort , may come to a great winning conclusion of the week, even if your team has not taken the needed 3 points or missed the chance to score in the last minute of the game. You are on the right place, with the best predictions on football. Everyone has it is own world, but we have a lot in common sports and bookmakers offers on different matches in all king of sports. As from now on, I will be giving you some of my tips as per the odds of betfair.com There are actually 3 bookmakers …
Hello, dear friends. Good morning to all, as we are all now keen in expectations of starting of the new season in Premier League. Destiny loves to play jokes with us, in the previous round the boys of Jurgen Klopp had made the decent game, winning at Anfield 4-3 against Borussia Dortmund , after the result was 3-1 in the 55 minute of the second game. The main fever and how to say, the light of the cameras is always concentrated on the main figures in the top 5 teams, the managers. Soon I will try to give you tips on another sports( I am currently thinking which should be the right ones for all of us ? ). Sometimes people do not like to get a figure pointed and the right direction. My main sympathy goes to UK, Premier League and Italy , Seria A. One of them was the match between Crvena Zvezda – Ludogoretz. Mala Marakana expected this game for a days now. My happiness will be a 100 % sure,when Seria A season in Italy will also be promoted, but this will happen very soon ( 6 days now). It is the end of the football season in all the top 4 European leagues and I feel obliged , I have to say few words about the Champions an the runners up. When two teams from the same country have won the top tournaments in one sport, there should be no other parallel. Not only stars, but players and people who have changed and are currently changing the history of football
Although there are people more qualified to give Derby tips, like many financial commentators, I won’t let lack of expertise stop me.
Betting to show is a practice that I follow religiously. . (My mother was a sucker for horses with funny names.) I just follow the odds. If dad ever met the professors, he would have punched them in the nose. Betting to show fits with my overall philosophy about investing. I didn’t pick Sunday Silence because of my system. I go the track a few times a year and bet small amounts.
Dad liked the excitement of big odds and big payoffs.
It drove him absolutely crazy. I would bet $10 and win.
I picked the horse because of an alumni connection to a man I had never met.
It was written by two statistics professors and not the easiest book to read.
When your sitting back
In your rose pink Cadillac
Making bets on Kentucky Derby Day
– The Rolling Stones
He is the author of Son of a Son of a Gambler: Winners, Losers and What to Do When You When The Lottery.
My father, a professional gambler, absolutely HATED my betting system. He knew everything about the horse’s past performance, their breeding and who was riding them. He and I would go to Keeneland every session and we never picked the same horse.
I came to the conclusion that by living in Kentucky, I needed to know how to bet on horses. It was a stupid reason for picking a horse but produced one of my few winners.
I stuck to my system. That is better than any other kind of bet.
For whatever reason, my system has failed me at Kentucky Derbies.
I found a book called Racetrack Betting: The Professors’ Guide to Strategies by Peter Asch and Richard E.
The book bases the ability to pick horses on an economic theory known as the wisdom of crowds.
This Blogger’s Books and Other Items from…
Most of my equine knowledge was gleamed when I worked on the clean-up crew at the Kentucky Horse Park. His owner, Arthur Hancock III, had graduated from Vanderbilt and I had received a Masters Degree from Vandy the year before. The last one I remember winning was Sunday Silence in 1989.
The professors frown on exactas, daily doubles or any bet that exhibits large risk.
Like in the investment world, the winner at race track is the person with a conservative style and discipline. Just like the lottery, big odds draw a lot of excitement and attention.
Don McNay, CLU, ChFC, MSFS, CSSC is the founder of McNay Settlement Group in Richmond, Kentucky.
As the son of a professional gambler, people often ask me for betting advice. Quandi.
Although I started going to race tracks before I was able to walk, I don’t know much about the horse industry.
When I go to the track, I don’t look at the racing form, jockeys, past history or pick horses with funny names. I can sum up the advice in two statements.
The professors hate jackpots like the Pick-6.
The idea is that the marketplace will move with the crowd towards the best outcome. You can write to Don at firstname.lastname@example.org or read his award winning, syndicated column at www.donmcnay.com. I stick to it today.
Thus the best advice may be to forget all the high powered systems and experts and give it your best guess.
Bet on the horse that everyone else is betting on. Slow and steady works in the financial markets and works at the track too. It is a driving force for web sites like Google.
If a horse moves from 10 to 1 to 2 to 1, it is probably a good horse to bet on.
Dad was superstitious and started to believe that my system was jinxing him. I can tell you what horses make the biggest mess.
Bet on the horse to show, not to win or place.
Just like the lottery, you don’t see many people winning them.
The professors said that betting to show will produce a winner 52% of the time. He would bet $100 on a horse and lose.
I usually win enough money to pay for lunch.
The wisdom of crowds concept is really popular now
Weaver has heard of coaches telling athletes as young as seventh-graders that they want them for their team.
Plenty of parents dream of their children cashing in on a sports scholarship, but before you get your hopes up you need to understand the hard realities of winning these awards. According to a NCAA survey last year, playing football required 43.3 hours per week; college baseball, 42.1 hours; men’s basketball, 39.2 hours; and women’s basketball, 37.6 hours. In these Division I sports, athletes receive a full ride or no ride.
5. Playing high-level college sports will be a full-time job. These so-called head-count sports are football, men and women’s basketball, and women’s gymnastics, volleyball, and tennis.
4. What really matters is the scholarship amount contained in the school’s official athletic grant-in-aid form. Only about 2 percent of high school athletes win sports scholarships every year at NCAA colleges and universities. Forget about slick videos. And you absolutely don’t need to hire a professional to do the filming. Because of the huge time commitment, as well as time
away from campus, Division I athletes will often not be able to major
in rigorous disciplines, such as the sciences and engineering. Coaches don’t want recruiters to get in the middle; they prefer direct dealings with the student athletes.
8. Coaches can slice and dice these awards as they choose, which can lead to awfully small scholarships. Here are eight things that parents and student athletes need to know about these scholarships.
7. A coach might not know whether he wants a particular athlete until he finds out what other teenagers want to sign on to his team. A coach can change his mind about a prospect. 3. There is no guarantee that a child who verbally commits to a team will end up on it. Coaches may tell teenagers that they have lots of scholarship money to divvy out, but prospects shouldn’t assume that they will be the recipients, says Karen Weaver, who is on the sports management faculty at Drexel University.
Image courtesy of Flickr user AndrewH324
6. There are only six sports where all the scholarships are full ride. The odds of winning a NCAA sports scholarship are miniscule. Beyond the head-count sports, all other sports are considered “equivalency” sports. Skip hiring an athletic recruiter. For those who do snag one, the average scholarship is less than $11,000.
(MoneyWatch) Do you hope that your teenager will win a college athletic scholarship? . Yes, the odds are that dismal. Take flattery with a grain of salt. “Until you get the grant-in-aid form, it’s meaningless,” observes Weaver, who is a former national championship Division I field hockey coach.
1. A verbal commitment is meaningless. NCAA rules dictate how much money a program, such as lacrosse or track, can spend on scholarships. All Rights Reserved. Two or three minutes will usually suffice, Weaver says. Scholarships can be dinky. Coaches don’t want athletes to send lengthy videos
The case is National Collegiate Athletic Association et al v. 14-4546, 14-4568, 14-4569.
Clement was not immediately available for comment.
New Jersey argued that its law amounted to only a “partial repeal” of its prohibitions on sports betting, did not “license or authorize by law” such betting, and could help curb the “thriving” black market in the practice.
It is also a victory for Major League Baseball, the National Basketball Association, the National Football League, the National Hockey League and the National Collegiate Athletic Association, which opposed New Jersey’s laws.
One dissenting judge thought the 2014 law permissible despite PASPA. government, called the law “yet another attempt” to allow sports betting “only under the conditions of the state’s choosing.”
The 10-2 decision is a defeat for Republican Governor Chris Christie, who has seen courts void two state laws, including one in 2012, designed to raise revenue through sports betting.
Reflecting the stakes, two former U.S. The 3rd U.S. Governor of the State of New Jersey et al, 3rd U.S. Circuit Court of Appeals, Nos. Circuit Court of Appeals in Philadelphia said the 2014 law allowing sports betting at casinos and racetracks violated the Professional and Amateur Sports Protection Act, a 1992 federal law prohibiting the practice in all states other than Nevada, Delaware, Montana and Oregon.
“We are reviewing the opinion and considering our options,” said Paul Loriquet, a spokesman for state Attorney General Christopher Porrino.
The sports organizations, backed by the U.S. The other thought PASPA was unconstitutional because it violated state sovereignty.
The American Gaming Association, an industry trade group, wants PASPA repealed.
Rendell acknowledged the law’s “salutary purpose” in trying to revive those troubled industries, but said PASPA does not unconstitutionally “commandeer” the state.
A federal appeals court on Tuesday said New Jersey cannot legalize sports betting, in a big defeat for supporters of the years-long effort to allow such wagers in the state.
“We do have two judges dissenting,” Lesniak said, “and we certainly will take a shot at the Supreme Court.”
“We were relying on having sports betting to give a big boost to our ailing Atlantic City casinos and our suffering racetracks,” state Senator Raymond Lesniak, a Democrat from Elizabeth who sponsored the 2014 law and a 2011 voter referendum allowing sports betting, said in an interview. solicitors general were on opposite sides of the case, with Paul Clement arguing for the sports organizations and Theodore Olson representing New Jersey.
“Because PASPA, by its terms, prohibits states from authorizing by law sports gambling, and because the 2014 law does exactly that, the 2014 law violates federal law,” Circuit Judge Marjorie Rendell wrote. “It’s just wrong for Congress to deny New Jersey what the state of Nevada has.”
(Reporting by Jonathan Stempel in New York; Editing by Lisa Von Ahn and Tom Brown)
Nevada bookmakers made $231.8 million on sports betting in 2015, the state has said.
New Jersey’s law banned wagers on state college teams and limited bets to people age 21 and older at casinos and racetracks.
It’s perfect if your daughter changes hobbies a lot. This is also a very different theme for a little girl so you might just have to find a comforter that was made for little boys and design it so it works with rest of the space. Just make sure that she’s not expecting a more realistic one so that you can both get what you want in the space.
Make a patchwork quilt. Patterned fabrics can often be overwhelming. This gives you an opportunity to express your creativity as well as create a family heirloom.
Horse Baby Bedding
Horse Themed Bedding
Break up the set. This is the reason why you would want to break up the pattern with solid colors. Horses were a very common theme in vintage design. If this is the case then you can bring in subtle green or brown sheets to really create a one-of-a-kind look on a budget.. Plus, she can redecorate when the time comes.
Horse Toddler Bedding
Kids Horse Bedding
This is easy to find in gender neutral tones but more difficult if you want horse bedding for girls.
Be aware of the background color for bedding. These retro prints will often depict brown horses and grassy fields. This means that even though they are very busy it may just get lost in the room. However, just bringing in simple pieces of fabric really gives her what she wants without spending a lot of money. White is a very traditional color for a girl’s room. It also allows you to change the sheets for whatever color that she already has in the room so that you don’t have to redecorate just because you want a different theme.
Horse bedding for girls can be the base of a theme room. This doesn’t mean that you have to totally redo the entire space. It can be the jumping off point for the rest of your design and is also a subtle way to add a little personality to your little girl’s room. This may even cost as much as buying a new bedding set but you’ll get a one-of-a-kind look. Some of the patterns could be floral or solid and then mix it in with the horse prints. In this case you probably don’t want to spend a lot of money on painting a mural when she will just have moved onto something else in a few weeks. This means that if you find horses with a white background your bedding will instantly be more feminine and have a little bit of tradition in it.
Make the bedding feminine. This is an inexpensive way to get an entire new look or theme in your room. You could appliqué horses onto the fabric or just go with a quilt block effect. For more of a cowboy theme you can work with bandanna fabrics. The room may already be pink and then all of a sudden she wants a horse theme. If you shop carefully you can find various unicorns or cartoon horses that will have pink backgrounds to them. When you want a very specific theme or color palette you may have to do a lot of the work yourself
The NFL had no comment when reached by ESPN.com. This is all over but the shouting.”
Monmouth Park, a thoroughbred track in Oceansport, New Jersey, has been outspoken that it will take the lead once sports betting became legal.
Dennis Drazin, an attorney and adviser to the New Jersey Thoroughbred Horseman and Monmouth Park, told ESPN in early September that he believes the track could have an operating sports book within three weeks after legalization.
The move came hours before Christie was to convene a closed-door summit on the future of Atlantic City. District Court,” William Hill U.S. — Gov. State lawmakers soon enacted a law to allow for betting at tracks and in casinos. Bets wouldn’t have been taken on games involving New Jersey colleges or college games played in the state.
A month ago, Christie vetoed a bill that would have pushed New Jersey to circumvent the federal ban on gambling on professional and college sports. Jennifer Beck, a Republican who represents the area where Monmouth Park resides, said Monday that she would like to see the track begin taking bets as soon as this upcoming weekend, but wants to see the reaction from the sports leagues.
The governor says sports betting is legal under previous federal rulings as long as wagers don’t involve a collegiate game played in New Jersey or a New Jersey college team elsewhere in the country.. The seaside resort has already lost three of the 12 casinos with which it began this year, and a fourth one is due to shut its doors next week; about 8,000 casino workers will have lost their jobs since January.
Christie suggested casinos and tracks could start offering betting immediately, but it’s not clear that will happen.
The governor said he took his cue from previous federal court rulings that found that nothing in New Jersey law prohibits the casinos and horse racing tracks from offering sports betting.
“We are reviewing the Attorney General’s directive and the motion filed in U.S. In light of our significant investment at Monmouth Park, we are happy that it appears racetracks and casinos in New Jersey will be taking sports bets sooner rather than later.”
In addition to the directive, Christie also had the state file a motion in federal court asking a judge to clarify or modify a February 2013 ruling that blocks a licensing program New Jersey had passed for sports betting in the state.
His action, through the state attorney general’s office, is likely to be challenged by the professional and collegiate sports leagues that fought New Jersey’s efforts to overturn a ban on sports betting in all but four states. Like others, we recognize that legalized sports betting is inevitable, and will be a good outcome for customers, states and the sports leagues. That effort ended with the U.S. Chris Christie’s administration issued a directive Monday allowing the state’s casinos and racetracks to offer sports betting, a move likely to be challenged in court by sports leagues.
The U.S. Rachel Ryan, a spokeswoman for the Meadowlands Racetrack said Monday that the track has no plans to offer sports betting now.
“Based on the arguments of the sports leagues and the United States Department of Justice, the 3rd Circuit has already ruled that New Jersey can carry out sports wagering as described in today’s statewide directive,” the governor’s office wrote in a statement. New Jersey missed a 1991 deadline in the law that would have allowed sports betting in Atlantic City.
He said he does not expect sports betting to begin until a court rules that it is legal.
ATLANTIC CITY, N.J. CEO Joe Asher said in a statement. Christie said at the time disagreed with the court decision but feels the law is “sacrosanct.”
The professional football, baseball, basketball and hockey leagues, as well as the National Collegiate Athletic Association, all opposed New Jersey’s effort to legalize sports betting, saying it could give the appearance that the integrity of the games has been compromised.
The park built a sports bar last year that was designed to be transformed into a sports book quickly if sports betting were legalized.
“That to some degree will dictate how the race tracks and casinos move forward,” Beck told ESPN.
Information from ESPN.com’s David Purdum and The Associated Press is included in this report. Other leagues and the NCAA did not immediately return messages Monday.
Casino executives did not immediately respond to requests for comment on Christie’s action.
But those actions ran up against the 1992 Professional and Amateur Sports Protection Act, enacted by Congress to restrict betting on sports to a few states. “The motion simply would clarify and formalize that authority and give clear guidance to casinos and racetracks waiting to open a sports pool in New Jersey.”
“Victory at last!” said state Sen. “People should book their hotel rooms in Atlantic City for the Super Bowl now because there won’t be any available in February.”
N.J. Raymond Lesniak, one of the legislature’s strongest supporters of sports betting. Nevada has allowed betting on sports for more than 60 years, and Delaware, Montana and Oregon have at times permitted more limited betting. branch of William Hill agreed to be the exclusive provider of sports betting at Monmouth Park, but is taking a wait-and-see approach.
The move is a turnaround for Christie, who initially seemed resigned to defeat once the U.S. State Sen.
Lesniak said he expects the leagues to challenge the move, but predicted: “They don’t have any arguments left to make. “Obviously, this is a significant development. Supreme Court declined to hear New Jersey’s appeal in June, saying, “You know, that’s the way it goes.”
Voters in New Jersey overwhelmingly endorsed legal sports betting in a nonbinding referendum in 2011
Making it more difficult for sports bettors is that some sports services will claim to have won 200 units in a particular sport, but don’t mention that they release 10- or 20-unit plays, along with several 100-unit “locks” at the end of the year if things aren’t going so well and they need something to base next year’s advertising on.
For the bettors that do their own handicapping, however, units won is really the only thing you should be concerned with, as that ultimately is going to translate into the bottom line. And as is the case with the Arkansas-based giant, many times this will be more profitable than being extremely selective and doing a small amount of volume, even if the mark-up is higher.
The only statistic that sports bettors should be concerned with is units won, which is the amount of profit, or loss, they have over time, and not worry nearly as much about winning percentage. A winning percentage of 55-percent sure doesn’t sound as sexy as a 60-percent handicapper, but if your volume of plays is high enough, it can certainly be much more profitable.
With baseball season coming back in about 4 months, many sports gamblers will be seeing ads from different sports services claiming winning percentages of 65-percent for baseball, and that’s entirely possibly, but what the services aren’t saying is that the majority of their selections were favorites of -200 or more, turning that 65-percent handicapping into a losing proposition.
If somebody were to ask you if you would rather be a 60-percent handicapper or a 55-percent handicapper, which would you choose? The obvious answer is that it’s better to be a 60-percent handicapper, but that isn’t necessarily true.
The 55-percent handicapper is using what is commonly referred to as the Wal-Mart Approach, which is to have a lot of volume with the expectation of grinding out a small profit. In the question above, it would be much better to be a 55-percent handicapper if you were playing 150 games a month, as opposed to a 60-percent handicapper playing one game a day. At the end of the month, the 55-percent handicapper would have gone 83-67 for a gain of 9.3 units, while the 60-percent handicapper would have gone 18-12 for a profit of 4.8 units, so the 55-percent handicapper has made nearly twice as much.
“Any effort by Delaware to allow wagering on athletic contests involving sports beyond the NFL would violate PASPA,” according to the opinion, written by Judge Thomas Hardiman.
“Delaware may, however, institute multi-game (parlay) betting on at least three NFL games, because such betting is consistent with the scheme to the extent it was conducted in 1976,” said the opinion.
(Editing by Padraic Cassidy)
The U.S. Court of Appeals for the Third Circuit last week said that Delaware’s plan to allow point-spread bets on individual games in all major sports violated federal law. Jack Markell, et al, U.S. Third Circuit Court of Appeals, No. Monday’s opinion makes clear the state would still be able to offer parlay bets, which depend on the outcome of several matches, on National League Football games.
WILMINGTON, Delaware Delaware’s plans to allowing betting on sports was drastically pared back by a federal court on Monday, a day before the state was going to expand gambling as a way to balance its budget.
The NCAA, or National Collegiate Athletic Association, also joined the complaint by the leagues.
Delaware Governor Jack Markell signed the betting law in May, saying at the time it would bring in $50 million and help close the state’s budget shortfall, which for fiscal 2010 has been estimated at $800 million.
The case is In re Office of the Commissioner of Baseball, et al v. professional leagues for baseball, basketball, football and hockey filed suit to block the state’s plan, arguing it violated federal law and that it might taint their sports with accusations of cheating.
By Tom Hals
| WILMINGTON, Delaware
The state had planned to offer sports betting from three racetrack casinos, and it expected to benefit from added tourism.
“While we are disappointed the decision does not provide the flexibility we had hoped for, Delaware is still the only state east of the Rocky Mountains that can offer a legal sports lottery on NFL football,” Markell said in a statement.
A 1992 federal law known as PASPA prohibits betting on sports, although that law grandfathered in Delaware, Oregon, Montana and Nevada and allowed them to offer such wagering if it was limited to plans the states had operated between 1976 and 1990.
Delaware offered parlay bets on NFL games for a few months in 1976. The court opinion agreed with the leagues that Delaware was generally limited to what it offered in 1976, when it allowed gamblers to bet on winners of several NFL games.