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For football, sports books continually adjust or balance the odds so that they will almost always show a profit. The difference between football and other games of chance is that you are wagering on a commodity that can be analyzed.
Most assume that what happened on the football field last week will happen the next. My job is to help even the odds more in your favor. To do that, you also need a good understanding of the lay of the land in the arena of sports gambling. How I got thrown out of some high school and college classes but still managed to receive As in the courses. More than three times as many watched the Super Bowl! Almost everyone bets on the game.
I was three months out of undergraduate school, had taken just enough philosophy courses to screw up the rest of my life, and had begun studying for an MBA. Money was really tight. There was only one way to afford tuition: get a roommate to help pay the bills, work all day and take classes at night. Combining my job with school was demanding, but manageable. My choice of a roommate, Steven, was lamentable. Rather than work, Steven was more concerned with nocturnal activities.
He had lots of friends who were having fun in our apartment, while I was getting up for work or trying to study. Early one morning, I woke to an unfamiliar body watching TV in my living room. His name was Andy. He was slightly overweight and seemed quite content wearing pants with an expandable waistline that he could exploit for years.
Andy had been at an all-night party and was trying to find anyone who would drive him 90 miles to Atlantic City. At the time, other than Las Vegas, this was the only other gambling option in the country. I consider myself controlled and pragmatic, which is the only way you can make money in the wagering business, but for some reason I let Andy convince me that we needed to go to a casino.
He promised to pay for gas and any other expenses. We arrived at one of the major casinos. It was illuminated by sexy glittering signs, enabling thoughts of lucrative grandeur. The lobby was embellished with expensive chandeliers and miniature waterfalls. All paid for by the generously treated patrons.
After the long drive, I needed to use the washroom. Casinos are designed to make you work to find the necessary facilities. They would rather have you wander the floor and make a charitable donation to a slot machine. Looking down one of the long hallways I finally found a small restroom sign, pointing to a porcelain cavern. The entrance was guarded by a nondescript man sitting behind a table with paper towels and cheap candy.
He may have had the easiest job in the world. It involved no training or pressure. In return, you get to give him a dollar while he offers you a mint. They were stored under his towel table in a box that looked like it could have been radiocarbon-dated. One towel, one mint and one unemotional smile got him at least one dollar from each customer. What a great idea for a franchise! Instead, I realized he had a compulsive agenda. He was already at a blackjack table looking even more at home than he did on my couch.
I walked over, sat down, pulled out my wallet, and then noticed the table minimum. Who was this guy? I knew the odds and had no illusions of getting rich. If you choose every bet correctly your chances of winning or losing are just about even. It only took about 20 minutes before I started to feel like the typical gam-bler.
I was losing and started questioning naturally occurring circumstances. Has a dealer ever been this lucky? My free drinks were awfully expensive. That was it! I was done with my benevolent contributions and decided to find Andy.
He had established a territory, not planning to relinquish control. I left and decided to try my luck with the slot machines, which have basically become cartoon versions of scratch-off lottery tickets. Lots of visuals, but everything is predetermined, including my longevity spinning the wheels. Boy was this fun. Hopefully Andy was doing a little better. Supposedly, casinos pump oxygen onto the floor to keep gamblers stimulated and upbeat.
Nobody looked happy, especially Andy. Maybe he was just addicted to sitting in a semicircle. He had few chips left, so I decided that maybe we should just leave. I was surprised when he agreed, but first he wanted to have a cigarette on the balcony. We took the. There are two main ways to bet on a favorite or an underdog. The first is the point spread , which is a bet on the margin of victory. If you bet on the Patriots, they need to win the game by 8 points or more for you to win your bet.
Spreads are available for all sports, but they are predominantly used when betting on higher-scoring sports like football and basketball. The second way to bet on a favorite or an underdog is on the moneyline. This is based solely on which team will win the game. Because underdogs are expected to lose, there is more of a reward when betting on them. Moneylines are available for all sports, but they are predominantly used when betting on lower-scoring sports like baseball, hockey and soccer.
In addition to setting a line for the favorite and the underdog, oddsmakers will also set a total number of points scored in a game by both teams combined. You could either bet the Over or the Under If you bet the Over and the total points scored end up being or higher, you win your bet. If the total points scored are or fewer, you lose. The juice is the commission you have to pay to the sportsbook for them to accept your wager.
With legalized sports betting spreading across America, sports bettors have never had more options to take advantage of. To see if sports betting is legal where you live, check out our state-by-state tracker. Some of the biggest states that have legalized mobile wagering include Colorado , New Jersey , Pennsylvania , Indiana and West Virginia.
The sportsbooks highlighted below are all trustworthy legal shops that take bets online. Click to return to table of contents. In the end, you have the final say on how much to risk on a game, but a good rule is risk only what you can afford to lose.
Sports betting is a marathon, not a sprint. There will be good days and bad days. As a result, we recommend a flat-betting approach. They are unique to the team, sport and league, and universal across most sportsbooks. Much like stocks on Wall Street, the sports betting market is fluid. Lines can vary based on the sportsbook, because different books have different clienteles.
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