11 Tips To Placing An Online Sports Bet

As you know, sports betting is different from other forms of gambling because there are no set formulae or systems that you can apply blindly. This is no substitute for knowledge about the sport and a thorough understanding of the rules and the odds of your particular bet. You have to know how to apply the spread to the particular conditions for the game. You can make sports bets over the phone, at a casino or on one of the many online sports books and you have a dazzling variety of bets ranging from the simple money line bets to the complicated parlays and teasers. We would recommend online sports books for the following reasons:

1. You can bet from the comfort of your house sitting in front of your own computer.
2. Online sports books are open 24/7 and you can bet at the time and from the place of your choosing.
3. You generally tend to get better odds and to benefit from the earlier posting of odds.
4. You can place a wide variety of bets on a large number of sports in different countries.
5. The minimum bet is normally one dollar and even the maximum bets will generally suit highflyers.

Be careful in your selection of online sports books because a large number of them will only give you a problem and take your money. Look through at least two to three reviews and make a commonsense judgment. Familiarize yourself with the rules and make sure the one you select suits your budget and your style of betting.

Protect yourself against frauds. Because of the proliferation of online betting and the vast sums of money that change hands, the criminals are not too far behind. Use the following commonsense precautions to protect yourself against fraud:

6. Only bet with sports books that have a track record and an impeccable reputation.
7. Never respond to e-mail that purports to come from your sports book or bookmaker. The object of this phishing is to extract your login and password and then vanish with your money.
8. Beware of sports books that provide favorable odds and large bonuses and then produce a string of excuses when it comes to pay out. Fraudulent books have been known to manipulate odds so investigate any unusual betting losses.

Some important things that you should know about betting online:

9. Online sports books will accept customers without any questions. If you put money on the wrong sports book and it vanishes, there is very little you can do to get it back.
10. The legal position on US residents betting on online books is not entirely clear on the key question of legality. The Unlawful Internet Gambling Enforcement Act is centered on the banks and the transfer of money to fund deposits for gambling. This is why many credit card issuers and online payment services like PayPal will not allow payments to online sports books. However, you should note that this does not by itself make online gambling illegal. You should watch future developments in this space.
11. Just because you are an avid sports fan who has a thorough knowledge of the sport, you are not necessarily going to be successful at betting. In fact, you may be too emotional to make a reasoned judgment. Develop the ability to research your statistics in a detached manner and make your decisions accordingly, regardless of what your heart tells you.

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Sports Betting Revolution – Unlock the Spread Monopoly and Collusion

What If the betting line or spread was established by four sports advisory companies without collusion or previous knowledge of each others numbers!

Lets face some facts about this number or point spread that usually comes from one Sports Advisory Group. This number is sold or distributed to the sports betting outlets online and the legal Sports Books in Nevada. These outlets put their little tweak on the line by 1/2 point or 1 point or an extra $5 on the money odds. However, everybody will post their number which is the same or within a point of each other. This is the equivalent of price fixing and collusion in any other industry.

How come the Sports Betting Industry has the same price or spread on their betting board? WHY – because nobody wants to rock the boat!

What if this process of establishing a betting line was not a monopoly but was provided by at least four sports consulting groups that were independent of each other. Each group would then post their calculated number for the worldwide sports betting outlets to buy and use for their operation.

This new mode of operation would unlock the monopoly that exists when the line is established. Now what happens? Would some books dare to post numbers that are different from others by 4 or 5 points either way. I doubt it since nobody wants to rock that boat. Is this collusion by the sports books so they can keep their share of the market and not create a price or point spread war.

The process of constructing the point spread number is probably done through a software program with all the statistics and other information to get a base number. Then the actual number is refined to include public perception as to where the public will place their money. It is no secret that Sports Books speculate or predict at what number the public will be evenly divided.

There are a number of times when the line is not even close to the final score. They do come close about 65% of the time. However, when the spread is minus 7 and the favorite wins by 21 points or the underdog wins outright, their number is way off.

If that minus 7 point favorite is listed at minus 11 points at another outlet would there be a Revolution among Sports Book operators. Would this difference of opinion cause a lot of anxiety with casino management. I am sure they would question each others actions after doing the same thing together all these years.

For a true and balanced market to emerge in any industry, there should be some options and competition among the players involved. A Betting Exchange is very close to a more balanced betting market since the competition is against other bettors. The spread is the same but the money odds are much better with more options.

If the Sports Books in Nevada and online books decide to re-arrange their Sports Book operations to include some alternatives to the spread, they will increase their handle and be more competitive. I would install some form of Spread Betting that is big in Europe. Allow more options with alternative lines and charge a little more vigorish. Some online books have alternative run lines on baseball. They post the run line at minus 1.5 runs on the favorite and underdog in the same game.

The Sports Betting outlets need to become more innovative to maintain a market share. We know they probably will not “rock that boat” unless one or more sports betting venues develops a rogue or maverick mentality. This would be a big gamble that could payoff and increase market share. However, it is ironical that sports books do not want to be in the gambling business. They just want to collect their commission and avoid too much risk. They are more concerned about the heavy hitters than the small average recreational bettors who lose more often.

Promoting or seeing changes in any financial markets is similar to getting people to stop smoking or obese people to lose weight. Change is difficult for a lot of people and businesses. As they say “talk is cheap”. However, I feel technology is becoming more prevalent in Sport Betting industry. Hopefully, it will create a more vibrant market with better options and more competition within the sports betting community.

Bruce Fraser writes for Fraser Publications

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