Online gambling (or Internet gambling) is any kind of gambling conducted on the internet.This includes virtual poker, casinos and sports betting.The first online gambling venue opened to the general public.
Pros & Cons of Sports Betting Like with casino games, the best reason to bet on sports is that it’s fun. If you’ve never done it, bet a Coke on a game with a coworker and tell me you don’t suddenly get a lot more interested in the outcome of the game. Also, like casino games, sports betting can be a solitary or social exercise.
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Sports betting appeals to the smart bettor because it is not a game with a fixed house edge where the casinos are raking off fixed percentage. Sports betting requires more skill than luck similar to live poker. You won’t win every time but the skilled handicapper has a huge advantage over the recreational bettor. Before going into more detail you need to understand how sports betting works. We will take a look at football where a point spread is involved. (Basketball also uses a point spread.)

The casino Sportsbooks make their money on sports bets by collecting a commission on losing bets. This is called the Vigorish or Vig for short. The most common odds are 11 to 10. This means that if you want to win $100 you are risking $110. For example, you place a bet on the Giants at the casino sports book and pay $110. If the Giants win you collect $210 when you cash your winning ticket. If you lose your bet you lose the $110.

Ideally, the Sportsbook would like to have the same amount of money wagered on the two teams playing. If the Giants are playing the Colts and they have one player betting on the Giants and one player betting on the Colts they would pay the winner $100 but collect $110 for the loser. This gives them a $10 profit so they really don’t care who wins as long as they have an equal amount bet on each team. To accomplish this they assign a line or spread to make the contest equally attractive for both sides.

The Point Spread

Many people believe that the point spread is the predicted margin of victory by which one team will beat another team. Slot machine interactive video game deal or no deal. This is not true. The line is the handicapper’s prediction of what number will be required to split the wagering evenly on both teams. For this reason, the line may change from the opening line to the line at game time. The Sportsbooks goal is to have the betting as evenly as possible.

If the public is swayed by sentiment to bet on a certain team then the odds makers need to adjust the line to get some action on the other team. Otherwise, the betting would be heavily lopsided. The general betting public reacts to the opinions of others. This is why you see so many people “Jumping on the bandwagon” of a winning team.

For the sports books, the line is flawed if it does not attract the same amount of action on both sides however from a smart handicapper’s point of view, the line is flawed when it does not compute to his predicted outcome of the game. A weaker team can actually become the favorite if public sentiment is with that team. When this happens the underdog presents a huge overlay for the seasoned handicapper meaning that the odds are in his favor. For example Team A should be a 3 point underdog to Team B, however, The public loves Team A and are betting on them and the line moves to make Team A a one-point favorite, then Team B becomes an excellent bet. This is the contrarian principle and why many smart handicappers go against the general betting public.

The Handicapper

A winning handicapper formulates his own opinions about the game and ignores most of the public sentiment. A handicapper takes information from numerous sources, assigns weights and values to it. They will make their own power ranking and predict what the point spread should be without looking at the official line first, and then compare their predictions to the line to look at discrepancies. A large amount of data available via the internet and other sources means that the handicapper has more information but it means there is more to sift through to find the gems. The use of computer programs can help when searching through the data.

Why don’t more people win at sports betting? Like any other endeavor, it takes time, patience and practice to become successful. A person of average intelligence can become a winning handicapper if they have the desire. Based on the odds of -110 for a straight football or basketball bet a handicapper only need to be right 52.38 percent of the time to break even however many sports bettors cannot achieve that percentage of winning over the long run. The chart below shows the break-even points for the various odds you will encounter when you make a bet on the money line. With higher odds, you have to have a higher winning percentage to break even. If you bet the underdogs you can have a lower win percentage and still make money.

Winning Percentages

According to gambling statistics, approximately 26% of the world’s population practice gambling. These stats aren’t really surprising since people have been gambling since time immemorial. What might differ is the motivation behind it. Some gamble as a way to escape from their problems while others do so out of sheer boredom. And then there are those who’ll be trying to score a quick buck.

Whatever the case, social or controlled gambling can be a source of entertainment and is often viewed as a recreational activity. If you’re new to the world of gambling, know that gambling is categorized into different sectors. Betting, casino, lotteries and gaming machines are just some of the examples.

But our topic of interest is between two popular forms of gambling: casino and sports betting. Are you thinking of taking up recreational gambling but not sure which one to go with between the two? In this article we discuss all you need to know about casino gambling and sports betting, what they entail, their differences. Ultimately you can decide for yourself which is better.

What is Casino Gambling and Sports Betting?

We’ll start off by explaining what exactly the two gambling disciplines entail so that you get a better understanding of the topic. We’ve established that both are forms of gambling. Also, the chances of winning in both casino gambling and sports betting are similarly stacked against bettors. But that’s pretty much as far as the similarities go.

With casino gambling, the house or establishment uses a mathematical formula against punters who are wagering for a win. However, with sports betting, punters gamble against each other by wagering on the item in question, be it a team or horse. And the odds of winning are determined by the total sum of money that’s bet on each item.

Both casino gambling and sports betting are very popular. But sports betting has been rapidly rising in popularity over the years. The reason for its popularity is probably attributed to the establishing of more racing tracks and increased televised broadcasting of sporting events.

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