Locks Don’t Exist – “Anyone who has watched sports for about a month realizes that the difference between winning and losing, especially against the spread, can be infinitesimally small,” Gordon says.
“Most people with an understanding of football gambling bet between 3 percent and 5 percent of their bankroll, increasing when they win and reducing when they lose,” Vaccaro says. “Squares usually bet later in the week and they tend to pick the favorites.
Moseman agrees and especially likes home underdogs. The NFL, for example, will have very similar numbers at most of the betting shops you visit.
3. Chasing losses is the fastest way to the poor house.”
“The bookies fear and despise a tiny coterie of professional bettors known as ‘the sharps,'” Konik says. The payout is just the same as far as he is concerned. “In the NFL, a game will often be totally turned around by one or two plays, or even a single penalty. “Common wisdom says that over the course of a long football season the average man or woman will pick approximately 50 percent winners.
“In an average season, fewer than one bettor in twelve turns a profit,” Gordon says. “Teams play inspired ball at home.
Certainly not back into the pockets of the average bettor. Focus on Conferences – “The best way to win money betting football is to develop a niche and follow it closely,” Moseman advises. “The sharps are usually members of a betting syndicate privy to the most up-to-date information on injuries, weather, game plans, and, most important, the real power of the teams involved. He loses year after year, according to Dan Gordon, a top football handicapper and author of How to Beat the Sports Books (Cardoza Publishing 2005). “He is not jaded by teams and does not bet with his heart. “Most people prefer to bet on the ‘better’ team, the one that will probably win the game. The only touts bettors should consider are the ones who talk about the long haul and realistic winning percentages, which are in the upper 50 percent to lower 60 percent range.”
“The biggest mistake that amateur bettors make is they increase their bets when they are losing,” Sevransky says.
But that doesn’t mean you have to bet like a “square” and throw away your hard-earned money.
“A sharp or smart has a plan of what he wants to do,” says Vaccaro, the director of sports operations and public relations at Lucky’s Race and Sports Book in Las Vegas.
Newspapers and popular sports sites routinely publish the lines or point spreads for games, and football insiders offer their picks to viewers each week on ESPN and other cable networks. Shop For Numbers – “Another important aspect of betting on football is shopping for the best number,” Moseman explains. “When you’re in a good rhythm and winning, you want to increase your bets. “If you become an expert on a smaller conference like the WAC, you have a good chance to beat the house because sports book operators do not have the time or resources to follow this conference the way you can. If you are going to go with a favorite, it is best to place your bet early in the week when the sharps are laying heavy money on the points. So underdogs tend to be slightly undervalued – except by the sharps.”
“The standard bet requires gamblers to lay $11 for every $10 they want to win with the extra $1 or 10 percent known as the juice,” Konik says. There is a wealth of information on the Internet; it is just up to you to find it and research it daily.”
Although exact figures are impossible to calculate, according to Jimmy Vaccaro, widely considered to be Las Vegas’ most influential bookmaker, Americans probably wager more than $50 billion a year on NFL and college football combined. Drinking and Gambling Don’t Mix – “There is a reason the casinos in Las Vegas supply you with free drinks while you are gambling,” Moseman says. Avoid Exotic Bets – “For very skilled handicappers, with a proven track record, there can, at least in theory, be value in betting parlays,” says Gordon on the type of bet that combines two or more individual wagers.
7. They use powerful computers that can process millions of bits of data and produce a more accurate point-spread line than the bookmakers.”
Ted Sevransky, a well-known Las Vegas gambler and sports consultant with Sportsmemo.com, agrees.
Even Hollywood is not immune – think Two for the Money with Al Pacino and Matthew McConaughey.
9. “The key to proper money management is to be sure not to bet more than you can afford to lose.”
5. “For example, if you have a $1,000 bankroll for the season, you should generally bet no more than $50 a game.”
8. In fact, sports bettors must pick 52.4 percent winners just to break even.”
So, how much are we gambling each football season?
And where does all that money go?
Michael Konik, a sports writer and best-selling author of The Smart Money (Simon & Schuster 2006), explains why it is so hard for the recreational gambler to win at betting on football. And why not? We have unconditional love for the sport and betting $50 or $100 on a game adds an extra rush of adrenaline. Oakland comes to mind) seem like the Super Bowl. Research Football Services – “Most sports services realize that most people who sign up with them are insecure,” Gordon warns. If you want advice about sports betting, find someone who has a successful track record.
“A square is the average, unsophisticated gambler whose decision making is based on hunches, media manipulation, or spurious systems that cannot overcome the bookmaker’s inherent mathematical advantage,” Konik explains. “There will be more discrepancy in the numbers at different sports books. But, when you’re struggling, that’s when you want to reduce your bet size until you get out of your slump. Slim underdogs regularly win outright. “Over the course of several seasons, the percentage of bettors who turn a profit is minuscule.”
“A square or recreational player might have a vague plan, but after two Corona’s he will definitely run to the window and make a hasty decision on the USC-Notre Dame game because he wants to be involved in the party atmosphere,” Vaccaro says. Consider Underdogs – “In the long-run, it’s easier to win betting on the underdog,” Konik says. These books change their numbers according to the betting patterns of their customers, so it is not entirely uncommon to find two or three point differences in the lines.”
However, Konik adds that there are some bettors who actually know how to beat the bookies. If you like an underdog, it is best to get your bet in as late as possible, where there is heavy action from squares on favorites. “As for me, the best bet in football is betting the point spread or over/under totals on individual games. Otherwise, you’re better off doing your own research.”
But even though the math says it’s virtually impossible to win on a consistent basis, Americans continue to bet on football. There are almost an infinite number of scenarios that can happen in a single football game. To be a successful sports bettor you need to operate with a clear mind.”
While these tips don’t guarantee you’re going to win, hopefully they can make you a little less square and a little more sharp in your picks this season. He is not taken in by being involved in USC-Notre Dame just because it is the biggest watched game of the day. Bet at the Right Time – “The sharp bettors tend to bet underdogs, and they tend to bet them early,” Moseman says. If North Texas is his best bet on a Saturday then that is his bet. Avoid Chasing Bets – “Don’t do it! There is no worse way to mismanage your bankroll than to chase your bets after a losing day,” cautions Moseman on the dangerous practice of trying to immediately win back your losses. Not all games work according to this formula, but it is usually a good rule of thumb.”
“There is probably no better bet in sports than playing an underdog at home,” Moseman says. Also, being “in action” can make a dull late-afternoon game (Buffalo vs. Money Management – “This is without a doubt the most important aspect of betting on sports and possibly the most neglected,” says Morey “Doc” Moseman, a professional gambler and sports consultant with DocSports.com for nearly 40 years. Thanks to the juice, the only one who profits in this scenario is the bookmaker.
Betting on football games; whether it’s through a local bookie, an offshore Internet site or a Nevada casino (still the only legal place in America to make football bets), most of us have done it or know of someone who has.
Also, it’s probably a good idea to disregard advice from the myriad of ex-players and football experts you see on television each week. “Because alcohol clouds your judgment and usually helps you to make rash decisions you usually wouldn’t otherwise make. “Thus, the bookies love and cherish the squares.”
So, is it possible for the average square to become a little sharper in making football bets this season? According to professionals like Vacarro, Konik and Gordon, amateur bettors have the best chance to win if they demonstrate a little patience and follow the 10 basic tips below. “If you listen to their advice, you are sure to lose. The only locks that exist are those that need keys to open them.”
“The talking heads on TV know nothing about sports betting,” says Sevransky. On college you will be able to find different lines at different sports books. Big underdogs often find ways to cover the spread and they rarely give up toward the end of a game in front of the home crowd.”
And remember, in the immortal words of “Fast” Eddie Felson, “Money won is twice as sweet as money earned.”
Another difference between squares and sharps is how they approach betting on game day.
10. Giving 11 to 10 odds is almost always the cheapest price you can give.”
So, how much should you bet a game?
4. “In trying to bamboozle potential customers, many services make claims about having scouts all over the country that give them inside information and promise 70 or even 80 percent winners, as if the bookmakers were the biggest suckers in the world.
The Australian Wagering Council is dead right when it said “the need for government reform of the Interactive Gambling Act 2001 (Cth), which no longer reflects the current state of technology”. While betting with some offshore bookmakers is risky, they will at least take a bet from customers. The prices on the Australian bookies varied between 1.4 and 1.45. The government needs to act immediately to stop these bookmakers from making Australian punters risk their money overseas. These UK giants made a big mistake when they thought they could treat the Australian public the same way they treated the UK public for years.
“If you enjoy a bet on racing and sport make sure you do it with an Australian licensed, highly regulated wagering service provider”, Mr Downy concluded.
In total I could get $389 to win $163 across all Australian Wagering Council Bookmakers. I could get better offshore, but lets say i really wanted to support local australian business (cough, hack, wheeze).
The Australian Wagering Council has warned more Australians face losing their money and risks to the security of their personal and financial information, unless governments commit to a crackdown on the operations of illegal offshore wagering service providers.
They let me bet $200.
This morning I read the following statement from the so called Australian Wagering Council (which is solely made up of Bristish Bookmakers) which really made me angry.
This happens every single day on every single bet most people try and place. My only choice is to bet offshore.
I could bet a max of $76 here.
You can read the entire thing here, but I’ll paste the gist of it.
Hmm, a mighty $113
. All thanks to the members of the Australian Wagering Council.
The proliferation of illegal offshore operators again highlights the need for government reform of the Interactive Gambling Act 2001 (Cth), which no longer reflects the current state of technology or advances in global harm
Time to crack the whip on illegal offshore operators
I went to Sportsbet first
Do we want to send our money overseas? Off course not
Do we like having to risk never being paid? Umm No
If we could place our bets in Australia would we? HELL YES
Maybe off to Unibet then
I wanted to place $500 on South Sydney to win tonight’s big NRL finals game against Manly. This NRL game is a huge game and yet they limit or ban me completely. It is infact the bookmakers that form the AWC that have forced punters hands and the only way they can now bet is to go offshore.
What about Ladbrokes group (Ladbrokes, Bookmaker and Betstar)
Off to Tom Waterhouse (sportingbet and Centrebet)
Now sadly I am off to send money I really don’t want to overseas bookies. They need to make sure everyone is given a fair go and can bet whatever they like on all sports and that these corporate bookmakers pay a fair tax on their profits.
It is estimated in excess of $1Billion is bet offshore by Australians annually and a 2014 report on interactive gambling, funded by Gambling Research Australia, found that at least one-third of interactive gamblers were not concerned about gambling with offshore providers.
I’m not even allowed to bet 1 cent with them on the game.
What a load of utter f&cken bulls#t
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.
“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.”
Kornegay, Rood and Vaccaro have appeared on ESPN “SportsCenter” spots in the past year, televised signs of increased mainstream media coverage in all forums. But that trend has reversed. The Nevada handle of $2.4 billion in 1995 remained flat for more than a decade while offshore books owned the market.
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. “There is more access to everything, and I think the mobile app is the catalyst.”
Times have changed in many eye-opening ways in the past five years, and, of course, since the ’70s.
“We have a pretty sports-passionate culture,” Lawton said.
In the late 1990s, Roxborough said, casinos were plotting to downsize sports books. It’s growing and growing and growing, and it’s going to get bigger.”
“People started to bet more because they could bet on their phone,” Holt said. Still, he was blown away in February, and then blown away again in March.
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.
“Every single big event has gone up, with record-breaking handles every year,” said Matthew Holt, vice president of CG Technology sports books. each year. “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. Ten years ago, nobody cared about betting in Las Vegas.”. It’s a cheap date,” Vaccaro said. The sports betting handle in Nevada was $2.4 billion in 2006. on ESPN Radio (1100 AM). And that was Super Bowl week.
“In the long run, it could revolutionize sports betting in the state,” Holt said. “It’s a way for people outside of the state to get involved.”
Offshore and underground bookmakers still dominate the action, with an estimated $400 billion bet illegally on sports in the U.S. 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.
“I’m just flabbergasted,” Vaccaro said. “That made everyone else get an app, too, because they wanted to be competitive.”
Las Vegas Review-Journal sports betting columnist Matt Youmans can be reached at firstname.lastname@example.org or 702-387-2907. CG Technology and William Hill sports books led the way with mobile phone apps that changed the game when introduced five years ago.
Kornegay added, “Just the popularity of sports betting, the entertainment value is second to none.”
The biggest events are booming. and Manny Pacquiao generated an estimated handle of $80 million in the state.
Mobile phone apps and increased mainstream media coverage of sports betting are two major parts of the equation.
“The mobile app is just so popular,” Westgate sports book director Jay Kornegay said “The counter handle has not suffered, either.”
At the South Point, Vaccaro said, around 100 customers signed up for the mobile app during the NCAA Tournament, and the book’s tournament handle was up about $1.2 million over 2015.
From his spot behind the counter at the South Point sports book, he watched amusement park-like lines form at each open window. “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. It adds up to free advertising.
“There are more women than I’ve ever seen, and they know the money line is different from the point spread. “But there is no one set reason the handle is going up.”
“You are seeing a majority of locals betting on phone apps, and they come to your casino to watch the games. 19, and it has boosted the book’s handle instead of cannibalizing counter business.
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. A year ago, boxing’s megafight between Floyd Mayweather Jr. On any given day, Twitter is flooded with sports betting-related posts, helping to attract younger bettors. 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.
Vaccaro has seen almost everything there is to see during four decades as a Las Vegas bookmaker. A month after the Super Bowl brought a crush of customers, the first four days of the NCAA Tournament did the same.
But there are simple theories, too.
It’s tough to find a book without a mobile app. He co-hosts “The Las Vegas Sportsline” weekdays at 2 p.m. State gaming laws are being loosened to help pump up the handle, with entity betting being one progressive example.
On many days, Vaccaro said, 40 percent of what is wagered with the South Point comes in on phone accounts. Follow on Twitter: @mattyoumans247
“The way things are trending, it’s possible,” Michael Lawton, senior research analyst for the Gaming Control Board, said of the $5 billion figure. “People can’t get enough of it. “Las Vegas betting is stronger than ever. You see them drinking Coronas all day,” Vaccaro said. There are a lot of moving parts contributing to what we’re seeing.”
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. The Westgate unveiled a phone app Jan. 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.
Last summer, Senate Bill 443 was signed into a law, authorizing business entities in Nevada to place wagers on behalf of investors from around the world. “The world is so (bleeped) up, this is a great relief for three hours.”
Advances in technology have helped the state catch up. College basketball was a spectacular draw, too, with the 67-game NCAA Tournament pulling in an estimated $200 million in March and April. MGM Resorts, one of the last to make an impression on the market, is set to roll out a phone app later this month. Even without it, book director Jay Rood said, “We’re ahead of last year on handle by 5 or 6 percent, so it continues to be strong.”
He’s not exaggerating, either
In college, also sports betting odds have taken reign even though it might be considered illegal by many. The bookies set a lot of numbers by keeping the public in mind and the person who begins to study can understand easily as to how the person can gain more and on the numbers set by the bookies.
In sports betting odds, the odds are made not by the common people. In sports betting odds, the odds are termed as “MONEYLINE”.The sports betting odds there are no point spread for many of the sports such as boxing, tennis etc as there occur no way to measure the points or score in which the player wins or loses by. Money line in sports betting odds is decided by the event winner with no regard to the point spread as there is occurs no point spread. In such sports like boxing, the only thing that counts is who wins and who loses, and in such cases, the money line wagering enters in!
In sports betting line, money line is like point spread that is used to equal the attractiveness of the favorite and the underdog for the person betting. But even then, there occur many loopholes through which people play their own gaming!
Sports betting odds can be defined as “the likelihood of an outcome occurring that is stated in a number form”. This field is considered as a way to make huge profits if the person is a smart bettor who has practiced proper money management. In sports betting odds, there are many things, which are illegal such as transmitting information on gambling across the state for placing, or taking bets is considered illegal. The sports betting odds makers set the money line, as more money must be risked for the favorite or the person expected to win and very less on the underdog or the person more likely to lose, so that there occurs a balance between both sides of the contest. . And most of the illegal books of Nevada draw their odds from casinos. Apart from this, he also works as a consultant on gaming management, strategies, personnel and marketing. It is an entirely different case in sports betting odds, as about 75% of odds are established for the licensed Sports Books in Nevada as well as for Oregon State Lottery by Las Vegas Sports Consultant Inc, which is run by Michael ‘Roxy” Roxborough. The main basis of the wager is the straight up outcome, which is not in to a point spread. In sports betting odds, such as football odds is becoming more vibrant each year
A must for every horseplayer’s bookshelf.
Stud: Adventures in Breeding by Kevin Conley
A behind-the-scenes look at the world of high-class breeding, where millions of dollars are at stake, and wealthy breeders roll the dice as they “breed the best to the best and hope for the best.” Conley gives as a look into the breeding life of the great sire Storm Cat, as well as the Godolphin breeding operation, where Dubai’s Sheikh Mohammed bin Rashid Al Maktoum spends tens of millions trying for that elusive Derby winner
The Odds Must Be Crazy by Len Ragozin
Ragozin is the creator of the famous “Sheets” performance figures (which some consider a bargain at $25 a pop), and this autobiography cum handicapping tome gives a broad overview of how the numbers are created as well as how their users employ pattern matching to find live horses that may offer solid value in the mutual pools. Thoroughbred Handicapping State of the Art by William Quirin
Quirin was among the first to do a major computer study of American horse racing. Beyer always interleavens his handicapping books with lots of good stories that bring out the magic of the track from the bettor’s point of view.
Handicapping Magic by Michael Pizzolla
There haven’t been a lot of additions to the body of handicapping knowledge since the glory days of the 70’s and 80’s, but former Sartin disciple Pizzolla at least contributes something new with his Balanced Speed Ratings and Fulcrum Pace. Meadow is a serious player and the information here is rock solid.
Seabiscuit: An American Legend by Laura Hillenbrand
A book that hardly needs an introduction, given the sensation it made when published. In addition to an excellent chapter on money management, Mitchell teaches you how to calculate the cost of any exotic wager, make an odds line, as well as how to know when a bet is offering value on the tote board.
Speed Handicapping by Andrew Beyer
By the time this was written in 1993, speed figures had lost most of their value in the parimutuel pools, but Beyer is nothing if not a die hard figure player. A great portrait of the greatest horse of all time.
Laughing in the Hills by Bill Barich
Barich is a terrific writer, and here he gives a wonderful account of bumming around the Northern California racing circuit in the late 1970s, marking time and getting to know the colorful denizens of the Golden Gate Fields backside.
Champions by Daily Racing Form Staff
An awesome collection of lifetime past performance for every eclipse award winner since the 1890’s. I can’t imagine a horse racing fan who won’t enjoy paging through this book.
Exotic Betting by Steven Crist
Most of the best handicapping books were written before exotic betting came to dominate the mutual pools, and this has left a big hole in the literature for horseplayers seeking the big score. Davidowitz gives a solid treatment of virtually all aspects of handicapping from speed and pace handicapping to workouts, conditioning, trainers, pedigree, and betting strategy. He also provides a figure method for the turf based on late speed as a deciding factor.
My $50,000 Year at the Races by Andrew Beyer
Andy Beyer always delivers a good read, and this account of his home run year of 1977 when he beat the races for 50 large while splitting his time between Gulfstream Park and the Maryland tracks is one of my favorite racing books ever. Cramer virtually invented the idea of unconventional handicapping as a way of uncovering hidden value, and here he offers ways to use pedigree handicapping, company lines, and other contrarian methods to beat the speed handicappers at their own game.
Figure Handicapping By James Quinn
As the title suggests, speed and pace figures are the focus here. The information is certainly a bit dated, but there’s still lots of good food for thought considering the book was published 25 years ago.
The Best of Thoroughbred Handicapping by James Quirin
Quinn was the most prolific of handicapping writers in the 80’s and 90’s. A meticulously researched account of Seabiscuit’s rags to riches story, as well as that of his owner, trainer, and jockey.
The Race for the Triple Crown by Joe Drape
New York Times writer Joe Drape gives an excellent history of a year on the Derby Trail among the high class stables of New York, a world far removed from the scrape-along lifestyle at most race tracks.
What are the best horse racing books? Horse Racing has an excellent body of literature that surpasses most sports in its quality and variety. Crist, an executive and columnist with the Daily Racing Form, has ably filled that hole with this book, which offers some solid strategies for tackling both single and multi-race exotics. There’s something about the beauty of the thoroughbred and the color of the backstretch that brings out the lyrical side of many writers. I’ve spent countless happy hours with this book revisiting some old friends as well as learning about the greats before my time. Sadly, several of the books mentioned here are out of print, but they can often be found on ebay or at abebooks. If you’ve ever wanted to know about feet-per-second calculations, early, late and sustained pace, decision models, track profiles and all the other tools of high-tech pace handicapping, this is the place to start.
Money Secrets at the Racetrack by Barry Meadow
Many consider this the best book ever written on money management and the mathematical aspect of value betting and exotic betting. Not a great place to start for the novice, but well worth reading for more experienced players.
Horse of a Different Color by Jim Squires
A great account of what it’s like to be a small time breeder by Jim Squires, the former Chicago Tribune editor turned thoroughbred breeder who hit the big time when he bred the Kentucky Derby winner Monarchos.
Betting Thoroughbreds by Steve Davidowitz
For my money this is the best general handicapping book ever written, and a great place to start for novices looking to expand their knowledge as well as more seasoned players looking to move up. I’ve divided this article into two sections, one focusing on handicapping books, and the other on more general interest books. This book covers speed and pace figures, Quirin Speed Points, pedigree handicapping on the grass, even trip handicapping. MPH contains a complete overview of the classic Sartin Methodology by its best-known (and perhaps most successful) practitioner. Crist is a pick six specialist, and his treatment of how to use multiple tickets to tackle that difficult bet is well worth the price of the book.
General Interest Horse Racing Books
Commonsense Betting by Dick Mitchell
Winning at the track takes more than good handicapping. Ragozin doesn’t give away the store here, but there’s still plenty of good information as well as an enjoyable read for horse racing fans.
Modern Pace Handicapping By Tom Brohammer
If you only read one book about pace handicapping, this should be the one. The book is more notable for its exiting narrative than its handicapping secrets, but speed figures and track bias played a large part in his success.. Here are my choices for the best horse racing books.
Kinky Handicapping by Mark Cramer
Cramer is one of the most entertaining and thought-provoking handicapping writers there is, and Kinky Handicapping is his magnum opus. In this book, recently republished by DRF Press, he brings together a comprehensive overview of most aspects of modern handicapping theory. I particularly enjoyed Ragozin’s war stories about his experiences as a horse owner and bettor (he and his partner Len Friedman have poured millions into the parimutuel pools over the years). Quinn gives an introduction into how figures are made, as well as their application as part of the general handicapping process. Nack gives us a ring side seat for all the twists and turns leading up to his incredible Triple Crown Campaign. The focus here is on non-fiction books, although there’s no shortage of fictional horse racing books. Beyer on Speed gives a solid overview of how speed figures are made as well as how they might be employed for betting success. A great book to dip into when a losing streak has you looking for new ideas.
Secretariat: The Making of a Champion by William Nack
Nack is a long time Sports Illustrated writer who had unprecedented access to the great Secretariat and his connections during “Big Red’s” amazing career. My favorite part of the book details Beyer’s expedition into the virgin territory of Australian racing, where he attempted to use his figures to conquer the fat betting pools down under.
The Winning Horseplayer by Andrew Beyer
Written in 1983 it’s still an excellent introduction to trip handicapping and how to relate trips to speed figures. It also requires solid money management, and that’s where Commonsense Betting comes in
Related: How $2 billion Clippers bet could pay off
Gamblers and investors also have far different time horizons.
All or nothing: Gambling on sports tends to be a zero-sum game.
“You’re making a wager based on some facts and some intuitions. Heck, even his commercials are funny.
To put it another way, the stock market is a lot more forgiving than the MGM Grand (let alone your local sports bookie).
Manning is really, really good at what he does for a living.
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. He asked for his identity to be withheld due to legal concerns.
“A lot of people regard investing as gambling, but I frequently say no. Gambling on sports may be more fun, but it’s definitely a more risky use of money than putting it in the stock market.
But don’t let those similarities fool you. People often invest in funds that buy dozens or even hundreds of stocks, which helps reduce the risk.
Related: Apple and 9 other stocks hit new records
Investors also have the ability to spread their money out among many stocks.
The same can’t be said for those who bet big on the Denver Broncos last Super Bowl.
CNNMoney (New York) First published August 31, 2014: 8:14 AM ET
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They both believe they can predict the future, and they sometimes fall into the trap of making decisions with their hearts instead of their brains.
But take it from one person who has lots of experience in both worlds.
“Betting is more difficult and riskier,” said one resident of Hoboken, New Jersey, who bets on illegal gambling sites and also invests in stocks.
However, someone sinking $500 into Apple stock has little risk of losing that entire initial investment, especially in the short term.
A stock can theoretically be held onto for an infinite amount of time, but a sports bet can end in the blink of an eye. It’s easy to see why fans may be tempted to gamble on their favorite teams and athletes. For example, a stop-loss order instructs a broker to dump a stock when it tumbles below a specific price.
“A large, steady company has a low chance of plummeting and causing you to lose all your money, but even Peyton Manning doesn’t cover the spread sometimes,” he said.
At the same time, investing in stocks actually carries higher upside potential.
Even the unlucky investors who jumped into the market at its peak in October 2007 eventually made their money back when stocks reclaimed their pre-recession levels in 2013. And in neither instance can you be guaranteed to be correct,” said Randall Fine, managing director of The Fine Point Group, one of the casino industry’s largest consulting firms. The stock might go up and down some, but it typically doesn’t go to zero.
And investors have greater access to tools that can minimize the risk of losing money.
“You can hold onto your betting tickets all your life, but you’re not going to get squat,” said Stovall.
Those are pretty good odds. A bettor gambling on the Green Bay Packers will instantly lose his or her entire $500 bet if Aaron Rodgers and his teammates fail to win or cover the spread. Which casino in Atlantic City, Las Vegas or Macau pays the bettor 73% of the time?” said Sam Stovall, chief investment strategist at S&P Capital IQ.
That’s the percentage of time that Stovall’s research shows the S&P 500 — the gold standard in the stock market — has increased in value during the years since 1926.
In the long run, investors have the chance to make more money because there are fewer downside risks. And of course, they both hate to lose. Gambling on football star Peyton Manning to win might seem like a safe bet, especially compared with picking winners in the stock market.
Such hedging tools are not as readily or even feasible to sports gamblers, Fine said.
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The betting appeal: Americans bet an estimated $380 billion each year on sports. While many stocks offer steady returns, investors sometimes hit the jackpot (think: buying Apple back in early 2009 or Tesla in 2012)