As the typical trade in sports arbitrage sees a compounding rate between one to five percent, this means that investors can quickly generate the kind of income that quickly outstrips their primary salary. Can you say the same for traditional investments in the stock market?
As a new investor, the world of online investing and trading might seem to be a hostile one at first. Whoever thought of that system, anyways?
Don’t let this incredible business opportunity pass you by – especially if you’re new to the world of online investing!
Are you ready for the rundown on sports arbitrage? These investments are a low-risk, high yield operation because investors find price differences in the market, then use those differences to earn a substantial profit. Additionally, it’s important to note that sports arbitrage has always seen compounding rates between one to five percent, even during the market’s worst times. After all, you’re competing against professionals who trade for a living, which is enough of an intimidation factor. The more capital an investor sinks into a trade, the more that trade then compounds. The generous income that both new and experienced investors see in sports arbitrage derives from the compounding rate of the trades. Welcome to the world of sports arbitrage!
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As icing on the cake, the yields from sports arbitrage are tax-free, so that healthy bottom line your portfolio is seeing won’t be penalized just because you’re good at what you do. Add to the fact that you’ll have to constantly monitor your trades, and it’s enough to make any novice investor want to pull out his hair in frustration!
Yet there is an incredible business opportunity for new investors that will not only add a healthy bottom line to their portfolios – it’s relatively low-risk as well view it
“People started to bet more because they could bet on their phone,” Holt said. “That made everyone else get an app, too, because they wanted to be competitive.”
“I’ve seen from studies around the world that the mobile app builds business, there’s no question about it,” said Michael “Roxy” Roxborough, an oddsmaker who founded and operated Las Vegas Sports Consultants from 1982 to 1999. On any given day, Twitter is flooded with sports betting-related posts, helping to attract younger bettors. Still, he was blown away in February, and then blown away again in March.
The biggest events are booming. You see them drinking Coronas all day,” Vaccaro said. State gaming laws are being loosened to help pump up the handle, with entity betting being one progressive example.
“Every single big event has gone up, with record-breaking handles every year,” said Matthew Holt, vice president of CG Technology sports books. on ESPN Radio (1100 AM). It’s growing and growing and growing, and it’s going to get bigger.”
“In the long run, it could revolutionize sports betting in the state,” Holt said. But Nevada is gaining ground and significance, and a handle approaching $5 billion (with a win percentage in the 5.5 range) is no small thing to bookmakers and casino operators.
Kornegay added, “Just the popularity of sports betting, the entertainment value is second to none.”
Mobile apps, mainstream and social media interest, the expansion of in-game and proposition wagering, fantasy sports’ popularity, Las Vegas book upgrades, laws that caused a slight shift away from offshore wagering, and various economic and societal factors are creating a perfect storm surge for legal sports wagering in Nevada.
“You are seeing a majority of locals betting on phone apps, and they come to your casino to watch the games. It’s a cheap date,” Vaccaro said. “The world is so (bleeped) up, this is a great relief for three hours.”
“We have a pretty sports-passionate culture,” Lawton said.
From his spot behind the counter at the South Point sports book, he watched amusement park-like lines form at each open window. “But there is no one set reason the handle is going up.”
“The way things are trending, it’s possible,” Michael Lawton, senior research analyst for the Gaming Control Board, said of the $5 billion figure. CG Technology executives lobbied lawmakers and worked with the Gaming Control Board to get the bill passed, and the entity concept is expected to flourish for football season in the fall.
Make no mistake, offshore books such as Pinnacle Sports in Curacao and BetCRIS in Costa Rica are still doing business on American soil, but the passage and enforcement of federal online anti-gambling laws have made it more difficult for the Average Joe to wager with a credit card in recent years. “People can’t get enough of it. 19, and it has boosted the book’s handle instead of cannibalizing counter business.
“You go to these places for the Super Bowl and Final Four,” Roxborough said, “and it’s a very skewed demographic for people in their 20s.”
“I’m just flabbergasted,” Vaccaro said. The Westgate unveiled a phone app Jan. But that trend has reversed. He co-hosts “The Las Vegas Sportsline” weekdays at 2 p.m. MGM Resorts, one of the last to make an impression on the market, is set to roll out a phone app later this month. The sports betting handle in Nevada was $2.4 billion in 2006. Ten years ago, nobody cared about betting in Las Vegas.”
On many days, Vaccaro said, 40 percent of what is wagered with the South Point comes in on phone accounts. A month after the Super Bowl brought a crush of customers, the first four days of the NCAA Tournament did the same.
In the late 1990s, Roxborough said, casinos were plotting to downsize sports books. The Westgate recently poured more than $12 million into the installation of state-of-the-art video boards and a renovated book, and Station Casinos spent millions on new video boards at Red Rock Resort.
Mobile phone apps and increased mainstream media coverage of sports betting are two major parts of the equation.
He’s not exaggerating, either. There are a lot of moving parts contributing to what we’re seeing.”. It adds up to free advertising.
Bookmakers all over the city are getting noticeably more aggressive in beefing up betting menus — even on baseball, golf, hockey and mixed martial arts — to create a more competitive market. It topped $3 billion for the first time in 2012, escalated to $4.2 billion last year and is projected to approach $5 billion in 2016.
Vaccaro has seen almost everything there is to see during four decades as a Las Vegas bookmaker. “It’s a way for people outside of the state to get involved.”
It’s tough to find a book without a mobile app. The Nevada handle of $2.4 billion in 1995 remained flat for more than a decade while offshore books owned the market.
“There are more women than I’ve ever seen, and they know the money line is different from the point spread. each year. CG Technology and William Hill sports books led the way with mobile phone apps that changed the game when introduced five years ago.
But there are simple theories, too.
Offshore and underground bookmakers still dominate the action, with an estimated $400 billion bet illegally on sports in the U.S. “On a macro level, the sports betting industry in Nevada never has been stronger. A record $132.5 million was wagered in the state on Super Bowl 50 — up from $98.9 million three years ago. “There is more access to everything, and I think the mobile app is the catalyst.”
In the late 1970s, as Jimmy Vaccaro tells the story, there were times when ticket writers in Strip sports books would fall asleep behind the counter because there was so little action. College basketball was a spectacular draw, too, with the 67-game NCAA Tournament pulling in an estimated $200 million in view it
Gov. The notoriety he gained for his participation in the Lincoln County fracas (largely tangential) ruined any chances he had for amnesty under Gov.
A smaller stone was placed in the 1940s for Billy alone. This stone has been stolen and recovered several times since its placement; now the entire gravesite is enmeshed in a steel cage. The gravesite itself, much like Billy’s life, is also questionable. The area had been flooded severely, and the markers washed away. Although the extant markers are in approximately the same area as the final interment, they are, likely, several feet removed from the actual bodies (short of exhumation, this cannot be corrected).
Since the world is full of people always looking to capitalize on quirky ideas and/or hypotheses, one “researcher” several years ago posited Billy The Kid was actually a woman! This is because of his sloppily ectomorphic body; the pear-shaped figure (narrow shoulders with wide, almost womanly hips) suggested The Kid might be female. There is nothing to bear this out. He may not have been a good man, or a tall man, or a handsome man, but all indications are he was a man nonetheless. The “womanly” shape is likely attributable to his slovenly appearance, poorly fitting clothing, and poor posture.
The New Mexico governor removed Sheriff Copeland from office. The Regulators no longer enjoyed the “protection” of favorable local law enforcement. To make matters worse the governor appointed a Murphy-Dolan supporter, George Peppin, to fill the vacancy. Henry and the rest of The Regulators (under indictment for killing Sheriff Brady) spent the next few months in hiding. On July 15, 1878, they were ultimately pinned down, along with McSween, in McSween’s home. The residence was surrounded by members of “The House” (as the Murphy-Dolan vigilantes were known) accompanied by some of Sheriff Brady’s former employees. On July 19 the US Cavalry sent in a column of soldiers to help. Although they were supposed to stay neutral the Calvary actions worked to the clear advantage of the Dolan faction (creating confusion and providing outside re-enforcement). At the end of a five-day siege, McSween’s house was set afire by the sheriff’s posse. Mackie in a local watering hole. Mackie was a Scottish-born ex-cavalry private and a practicing criminal. This influence on the rootless Henry McCarty is immeasurable – this boy needed a mentor; unfortunately, he found Mackie instead. Henry was working as a cook at the Hotel de Luna then, and Mackie invited him to join his gang to make some easier money. Mackie apparently worked out schemes of horse thieving for profit. The local soldiers from Fort Grant were preferred targets for stealing horses. [It is the Fort Grant soldiers who, knowing Henry, affectionately nicknamed him "Kid" Antrim. This tag was probably applied because of Henry's physique. He was frail, of a very slight, gracile build. His fragile physicality combined with his actual tender years and affable personality is what led to the "Kid" moniker.]
However, over time many historians forgot the mirror-imaging of tintype photography. The Kid was believed to be left-handed (the Colt revolver carried on his hip is on his left-side in the most common print of the photo). This error actually informed a Paul Newman film about Billy The Kid called The Left Handed Gun (1958). The Kid was not left-handed – he was right-handed; flipping the image to its correct “life” orientation gives a slightly different view of The Kid.
The morning after McNab’s death The Regulators assumed defensive positions in town and traded shots with Dolan’s men as well as with US cavalrymen. The only casualty in this limited gun battle was a Dolan supporter named “Dutch Charley” Kruling. Kruling took a rifle slug fired by George Coe from 440 paces away. Firing upon US Government troops earned The Regulators the Army’s animosity and netted them a whole new, and very powerful, group of enemies with which to contend.
The Regulators tracked down Manuel Segovia (Seven Rivers Warriors’ gang member and suspected murderer of Frank McNab). They killed him on sight. Around the time of Segovia’s death, The Regulators gained a new member, a young Texan named Tom O’Folliard. Tom became Henry’s closest friend, and he was also a constant companion afterward.
Things became ugly between the two factions on February 18, 1878. Tunstall was ambushed driving nine horses toward Lincoln; he was murdered by William Morton, Jesse Evans (of the cattle rustling gang Henry formerly belonged), Tom Hill, and Frank Baker. All of the bushwhackers were affiliated with the townsmen’s faction headed by Murphy and Dolan. A vigilante group was also sent out to rampage and to attack McSween’s holdings. Wallace’s deal Henry agreed to testify in return for amnesty.
While The Kid and his gang slept inside, Garrett’s men surrounded the stone building, waiting for sunrise. The next morning, one of the gang, a rustler named Charlie Bowdre (the cheese maker) went out to feed his horse. One of the posse thought Bowdre was The Kid and shot him. Someone inside the hideout stretched a hand to reach for Bowdre’s wandering horse’s halter rope; Garrett shot and killed the horse. The horse’s body lay blocking the hideout’s only exit.
Catherine moved to Indianapolis, Indiana, in 1867. She became acquainted with a man, William Antrim. Antrim was a general ne’er-do-well 12 years Catherine’s junior. The little group moved to Wichita, Kansas, in 1870. Catherine and her sons took up residence in the town proper while Antrim moved a few miles out of town, building a cabin on a purchased plot. Catherine’s entrepreneurial spirit (opening a laundry and dabbling in real estate) allowed her, independently, to buy a tract of land on her own (paying $200 cash for it). The land she bought adjoined Antrim’s, and she and the boys moved in with him. Unfortunately, she was diagnosed with tuberculosis and, upon a doctor’s advice, sought a different climate. In late summer 1871 the Antrim tribe had divested itself of its business and lands and view it
that it creates more engagement.”. Everyone knows that Sheldon Adelson is one of the richest guys in the world,” Ralston said. “I’m skeptical, but I’m optimistic at the same time.”
Foley’s sales pitch to fans and the NHL includes brand new T-Mobile Arena. But the deal would have to be struck this summer, in an election year.
“If this opportunity slips away and the Raiders were to find a new home, I don’t think you’re going to see another opportunity come available for a long time,” Sisolak said. In fact, Foley said 14,000 people have put down deposits of at least $150 each.
Foley said he’s now out of the penalty box, with his goal finally in sight.
One of those elected officials is Steve Sisolak, who chairs the Clark County Commission, which would have to approve any NFL stadium deal.
“We’ve always been a tourist city. The NHL’s Board of Governors, which must vote to approve any expansion, is now scheduled to convene there just hours before.
“A lot of arguments will be made. “It’d be hard to get on.”
Sisolak hopes the NFL and the Raiders will budge to reduce the amount of public money needed.
Sin City is betting on a makeover. And 90 percent of NFL franchises also now have ad agreements with daily fantasy sites DraftKings or FanDuel.
Not one dime of public money went into construction of the $375 million facility, but lots of people have anted-up.
This lifelong Green Bay Packers fan said crucial decisions must be made by an end-of-July deadline or the clock may run out.
Foley is a multi-millionaire businessman who grew grew up in Ottawa, Canada, playing hockey. “I have been spoken to by the commissioner at various times when I did not do exactly what he wanted to do. The cash would come from increasing the tax on hotel stays and would be the most public money spent on any of the past 11 NFL stadiums.
“You convinced people to give you money for tickets to a team that doesn’t exist?” Albert asked.
“I have been looking forward to it my whole life, Vegas’ first professional sports team,” said hockey fan Tom Mullin.
“So for you, it’s a non-starter if the NFL or the Raiders were to get 100 percent of concessions, 100 percent of parking and 100 percent of naming rights?” Albert asked.
“The real question I think is, is Vegas still toxic?” Ralston said.
Casino magnet Sheldon Adelson has dealt himself in. I don’t think daily fantasy is (gambling).”
“I think $750 million without some type of return is a little bit too much for the taxpayer to shoulder,” Sisolak said. Ralston said this would be “very difficult.”
“And the arena wasn’t built. The Raiders would contribute $500 million, while Adelson and his partners chip in $150 million. “And we’re really, really close.”
NFL Commissioner Roger Goodell acknowledged as much last month, saying: “All of us have evolved a little bit on gambling… “It’s a lot of money, but it’s going to be fun.”
“If they get 100 percent of the revenue and only put in $650 million, it’s going to be difficult. “I guess we’re approaching the two-minute warning.”
And it would define Bill Foley.
“I’m not a patient man, but I’ve learned patience,” Foley said. The West Point graduate now wants to drop the puck in his adopted hometown.
Foley’s website is already advertising season tickets. If you’re going to divert that much, why not use it for some of the real needs that are here — schools, roads, etc.?” Ralston said.
Ken Boehlke created the site Sinbin.Vegas to track every minute development.
“The public relations of it are a nightmare. Money could sack the deal.
Foley’s toughest sales job to the league may be Las Vegas itself. I’m never going to do that again. AEG and MGM opened the up-to-20,000-seat arena just off the Las Vegas strip in April. Real difficult,” Sisolak said. “Maybe I can sell some other things.”
But the NHL — not the NFL — may score first. Pro hockey’s annual awards show is June 22 in Vegas. He said he put down $600 “because I want to have a hockey team.”
“This is my mission. I’m going to be the majority owner of the tea,” Foley said, adding that he wouldn’t confirm or deny that it would cost him $500 million. We’ve never had something that we can say, ‘This is what defines Las Vegas.’ And an NHL team would define Las Vegas,” Boehlke said.
Die-hard hockey fans like Eric Biro are among the 14,000 who paid to be on Bill Foley’s season ticket list. It’s been holding events showcasing entertainers and was built to host an NHL or NBA team.
Last year, NBA Commissioner Adam Silver made this admission about gambling: “It’s good for business, I don’t want to hide from that… That’s pretty good, wasn’t it? I like that,” Foley said. “For him to ask the public to pony up $750 million when he’s worth $28 billion, that’s just not going to fly — not just with the public, but with the elected officials.”
But it may not be gambling that stops the NFL from lacing up in Vegas. Jon Ralston has covered politics there for 30 years. Las Vegas has long been the gambling capital of America, but it now wants to become a big-time sports town, reports CBS News’ Mark Albert.
Even in Vegas, where the wagers are big and the odds even bigger, Bill Foley has made one heck of a bet.
“I am the man that wants to bring hockey to the desert,” Foley said. He’s felt a “seismic shift” in how gambling is perceived nationwide and by those who lead professional sports leagues.
The Oakland Raiders’ proposal, presented in April by owner Mark Davis, bets on $750 million from the public to help build a $1.4 billion domed stadium complex on a lot near the Las Vegas strip. I haven’t been spoken view it
“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.
Partnering with other states gives Nevada an expanded customer market and provides other states with Nevada’s expertise in gambling regulation.
The bill approved Thursday resolved a disagreement between Horne and the governor’s office over licensing fees. Senate and Assembly judiciary committees approved it, sending it to the Assembly where it passed unanimously. 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. Chris Christie previously vetoed an online wagering bill but has indicated he may sign an amended version next week.
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. New Jersey Gov. “Today I sign into law the framework that will usher in the next frontier of gaming in Nevada.”
Under a compromise, the fee was set at $500,000, though it gives the Nevada Gaming Commission authority to change the amount. 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.
Horne, in turn, had equal accolades for the Republican governor.
“This was a lot of work and it couldn’t have been done without the governor’s leadership and vision,” he said.
Horne couldn’t resist at jab at Nevada’s gambling rivals.. It sailed through both the Assembly and Senate on Thursday after a joint hearing before the two judiciary committees.
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.”
“We have the most mature financial, auditing and collection capabilities, much greater than some of those states, and they have the players,” he said.
The benefit for other states, he said, is Nevada’s “most mature regulatory infrastructure.”
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.
Sandoval and Nevada legislative leaders said it was important for Nevada to remain at the forefront of gambling regulation.
Gambling regulators will now come up with regulations dictating compact parameters.
Nevada wanted to beat New Jersey, its East Coast casino rival, to the online gambling punch. The Senate passed it at midday and sent it to the governor’s desk for signature.
Pete Ernaut, a lobbyist representing the Nevada Resort Association, said expanding the customer base was key.
He praised legislators for their swift action and commended Assembly Majority Leader William Horne, a Democrat from Las Vegas, for shepherding the bill.
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.
“As to our competitor, New Jersey, they should be accustomed to following Nevada,” he said.
“This is an historic day for the great state of Nevada,” Sandoval said, flanked by dozens of state lawmakers. Gov. A renewal fee was set at $250,000.
CARSON CITY, Nev. But when those efforts failed in Congress, Sandoval said Nevada would work toward agreements with other states.
AB114 authorizes Nevada to enter into compacts with other states to offer Internet poker view it
. Apart from these materials, basketballs for recreational games or children’s matches are made of materials as varied as plastic and foam. The outer shell maybe made of leather, composite leather, synthetic leather, or rubber. Size and weight are also important factors while choosing a basketball.
Leather basketballs are suitable only for indoor play. The bladder is generally made of butyl rubber. The third most important factor is durability- does the basketball retain it’s bounce after regular use or goes flat after a few weeks play?
Basketballs were first manufactured around 1894 by Albert G Spalding. Does it afford a good grip? The Wilson Evolution series, for example, have a Dura fiber cover which helps the fingers grip the ball tightly. The smaller women’s size was officially recognized much later. If you choose expensive basketballs with snazzy designs, they may not be able to last the rigors of outdoor play. The core is made of rubber or sponge, or a mix of both. If used outdoors, they tend to crack easily. Composite leather basketballs, on the other hand, are good for both indoor and outdoors play.
Also, the bounce of the basketball must be smooth. This is ensured by even pebbling and wide channels on the surface of the ball. Each type of basketball has its own advantages and disadvantages.
There are other factors to be kept in mind while selecting a basketball. Almost all basketball retailers offer the NBA prescribed size chart that you can consult before purchasing a basketball.
Basketballs have three parts, the outer shell, the inner core, and the innermost bladder.
It is important to remember that one brand cannot fulfill all the above criteria and one has to choose from the many varieties available in the market. The basketball as we know it came about in 1934, with the official size 7, or 30″, being decided as the standard basketball size for men.
Then there is the question of price- it is important to remember that expensive brands may not always give value for money. But for playing outdoors on rough surfaces, rubber basketballs are the best view it
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.
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. 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. 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.
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. 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.
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.
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.. 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 view it
Players who play games with smart analysis will surely succeed with less time.
For tips on how to play casino games, visit our website. This online casino started its services with 18 games from 18th august 1995. All these gambling casinos generate a turnover of $3 billion for year. This bank roll allows him to place bets on the games being played. For example: Which is the better option among these two? Playing a slot machine which has million dollar pay out or playing a blackjack which has less price money? Definitely, if they both have same price we will prefer a slot machine. Gambling is not a simple task, it needs patience and at the same time innovative moves.
They should select games offering great bonus points.
If a player has an intention to play in an online casino, compulsorily he should have a bank roll. It is known that online gambling sites cannot accept any kind of encrypted credit card data that can be used for making payments. Statutes also state that it is inappropriate to use a gambling ship for the transfer of goods or people from one place to another. Today there are around 1400 websites offering varieties of gambling games. If you people wish to make more money online, then here are some of the common techniques. Players should evaluate the game and inquire about the probability of winning it. It is really difficult to predict how online gambling malfunctioning can come under the proper control of the law and order and that’s why one needs to know the basics of casino gambling in order to be on the right track.
The emergence of these technologies was accompanied by a sense of uncertainty at the time of using them, especially for private communications. According to a recent survey conducted there are around 14.5 million gamblers around the globe.
. Gambling is not illegal; players can go to online casinos and play these games. Gambling laws are aimed to address this issue and provide assurance about the sense of security and privacy among the public. Learn how to play poker and casino table games today.
The Worlds first online casino: Internet Casinos Inc (ICI) started its operation in the year 1995.
As per the law, major financial institutions are required to design and enforce policies and procedures which will restrict the process of illegal funding to the online gambling operators. Any such business affecting the inter-state business and commerce, and failing to abide by t state rules for running a business will also come under the jurisdiction of gambling laws. The first thing you understand in casino gambling is Bets valuation. Second important point a gambler should have is patience. On the other hand, although gambling has been disciplined by state laws, some lobbies in the government exist in favor of gambling view it
What if I bet on Penn with the spread and they don’t win but lose by only three? Would it make me happy to profit from a Penn defeat? This is too disturbing a thought to consider any further.
Most of my friends and fellow gamblers that I talked to would stick to betting on games with the spread but I foolishly followed the venture capital style of investing in college basketball. I occasionally get angry emails from readers who disapprove of negative comments I make about stocks they own. Example. (The spread is the number of points that the favored team is expected to win by while parlays are wagers that allow you to bet on several games in order to increase your payout.) And just as a market neophyte would be confused by a streaming quote feed, the rows of neon numbers on a sports book’s massive board is certainly overwhelming for the uninitiated.
I reacted quite angrily any time one of the CBS announcers said a bad thing about a team I bet on. Sounds exactly like the trading floor of the New York Stock Exchange.
LAS VEGAS (CNN/Money) – This will be blasphemy to hardcore followers of Wall Street, those who think of the market as a rational way to try and accumulate wealth. Pepperdine was competitive for the entire game but missed some crucial shots in the last few minutes (the bitter loser in me would say that they choked) and lost by eight.
Like investing, gambling has a lingo that you need to learn in order to be successful. It’s kind of like making a covered call on an option, selling the right to buy shares at a certain price while also having a long position on the stock.
With that in mind, I have no idea what to do when my beloved alma mater Penn plays California on Friday. If Pepperdine covered, we’d both win $120.. Instead of P/E ratios and mutual funds, you have “point spreads” and “parlays”. All three teams had to cover in order to win the bet, which paid off at odds of 6 to 1. When the color commentator pointed out that Tulsa is a small team, I probably did not need to act as if he was insulting my mother.
Betting on sports is legal in Nevada and most of the casinos in Vegas have a section called the sports book where people place their bets and watch the games. OK, there certainly has been some point shaving in the past – - the City College of New York scandal of the 1950s comes to mind – - but that doesn’t even come close to the scam that was Enron.
There’s also the emotion factor. I maintain that getting too emotional about a stock is not a good thing. Kansas (boy did Holy Cross give the Jayhawks a scare!) isn’t going to announce that the NCAA is investigating it for improperly recognizing hundreds of points scored in Big 12 games from 1999.
Speaking of auditing, the fact that stats in college basketball cannot be manipulated is actually a reason why betting on a college basketball game might be a wiser move than buying a stock. There are even ways to hedge and minimize your losses if you really know what you’re doing. So I did not hedge. So it would essentially be a wash. Betting the money line means you think a team will win the game outright, regardless of the spread.
(Disgruntled writer’s note: As it turned out, my fears were for naught. Kind of like the way VCs invest in many risky companies with the hopes of having one big initial public offering make up for all the flops, I made several “money line” bets on huge underdogs. You don’t have to worry about whether or not Duke coach Mike Krzyzewski set up special purpose entities in order to keep some of star player Jason Williams’ turnovers off the stat sheet. Just goes to show that you can’t discount the importance of luck any time you put your money to work.
It would have been nice to be able to make real bets on the Oscars though. I was convinced that Pepperdine would cover. But after spending most of Thursday watching college basketball at the Paris Casino’s sports book in Las Vegas, I can safely say that betting on the NCAA Tournament has a lot in common with investing in stocks.
In addition to the NCAA action, you can also get odds for the Oscars. Pepperdine, a 4-point underdog, played after these two games were finished. You can’t actually make bets – - they’re only for “entertainment purposes” – - but many of us were left scratching our heads about the favorites for the major awards.
That’s what sleep deprivation does to you folks.
Moulin Rouge was listed at 3-1 to win Best Picture: the second favorite behind A Beautiful Mind.
Odds for the Oscars
When it comes to sports, the numbers for the most part don’t lie. Grrr)
Why betting is better than investing
All in all, I made six bets on Thursday and won none, for a total loss of $100. But another part of me is slightly worried. “Best bet on the board?” observed my friend Jamey Tesler, “Ian McKellen for Best Supporting Actor at 6-1. A sports book during the height of March Madness is a wild, profane, testosterone-charged pit fueled by greed and fear. A friend of mine and I placed the same $20 bet on a 3-team parlay: Kent State, Missouri and Pepperdine. (Go Quakers!) Part of me wants to bet big on Penn (they were four and a half point underdogs as I wrote this) so I can reap the financial rewards when they win. Hey, I actually thought the Waves would win the game outright (similar to how many investors were convinced back in early 2000 that tech stocks could only go higher and higher) view it
That’s the main reason that despite being an attractive and growing market, no major sports team is based in Las Vegas
The first state poised to try to join Nevada is New Jersey, where casinos are tumbling into bankruptcy and cutting thousands of jobs.
CNNMoney (New York) First published September 9, 2014: 3:18 PM ET
Legalized sports gambling would be winning bet for NBA & NFL – Sep. He says the casinos hope the problems can be resolved in time for the Super Bowl in February. the stock market
NBA spokesman Mike Bass wouldn’t say if Silver’s comments represent a formal change in policy in the league.
Even if the obstacles are cleared, sports betting is not likely to be a cure for Atlantic City’s casino problems.
Leagues have opposed sports betting because of the possibility it could compromise their games’ integrity — a concern ever since the thrown World Series in 1919.
But an attorney for the state’s casinos, Lloyd Levenson, says there are federal obstacles to legalized sports betting that need to be resolved. States surrounding New Jersey all have casinos, and could act to legalize sports betting if they thought the Garden State was winning big. Chris Christie declared sports gambling decriminalized in casinos and racetracks.
“Everybody knows here that if you have a gentlemen’s bet or a small wager on any kind of sports contest, it makes you that much more…engaged in it,” Silver said at a sports forum in New York.
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NBA Commissioner Adam Silver recently said it’s inevitable that legal sports betting could spread beyond Nevada, the only state that now allows it.
In Nevada, the sports books are the least profitable part of the casinos, accounting for just 2% of revenue. “That’s where we’re going to see it pay dividends.”
Related: Sports gambling vs. What New Jersey hopes is that the opportunity to bet on football and basketball will bring in bettors who also throw a few bucks into slot machines and at blackjack tables. The National Football League and Major League Baseball declined to comment.
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