Illegal Sports Gambling Is Big Business! Will It Finally Become Legal? Supreme Court to Decide

No matter what sports season we’re in, you probably have a favorite sport you relish following. Maybe March madness college basketball, the NFL, baseball, hockey, golf, or soccer. Perhaps you would like to make a little bet, but many sports fans in the United States are leery of the legitimacy and legality of internet gambling. If you live in the United States, your legal sports betting options at brick and mortar casinos are limited to Nevada, and to some degree at Delaware racetracks.

The Supreme Court has heard arguments on a New Jersey challenge which would permit sports gambling at its casinos and racetracks. If the court rules in favor of New Jersey, Gaming experts predict that most states will jump on the bandwagon to legalization, in order to fill state coffers with tax revenue.

If you’re unfamiliar with the particulars of how to bet on sports, the following describes how it all works:

Sports Betting Jargon

Before we get into the specifics, here’s a little jargon explanation to help you understand the process:

Action – A term for all the betting activity that happens during an event.
Handle – The total amount of money wagered on events.
Spread – Giving one of the two teams points to even out the betting action.
Sports Books – Establishments that take bets on sporting events.
Juice – A percentage of the win taken from a bettor that won an even money bet. Sometimes called the vig, which is short for vigorish.

Types of Bets

There are many different types of bets. By far, football draws the most action with the biggest handle. The Super Bowl alone draws over $100 million in legal betting activity, and over three billion (that’s billion with a B!) illegal wagers. Now you see why states want a piece of the action.

Even Money Bets – Players betting on only one team to beat another. The sports book takes the juice/vig from the winning payout amount. A common vig is $11 for $10. (Bettor wages $11, wins $10.) House keeps $1. Most bets will have a point spread (line). If the player is picking the underdog, S/he will take points. If the bettor is picking the favorite, S/he is laying (giving) points.
Parlay Bets – Betting on multiple (two or more) teams to win. Here’s a scenario on a point spread ticket. Let’s assume that on event #1, Tampa Bay is playing at Green Bay with GB favored to win by at least 3 points. In event #2, Buffalo is playing at Miami and BUF is expected to win by at least 7 points. Your game ticket would look something like this:

Event Visitor Vs Home

1. TB GB. -3

2 BUF. -7 MIA

This means that if you bet on GB they must win by more than 3 points. A bet on BUF would require them to win by more than 7 points. By choosing the favorites you are laying (giving) points. If you were to put your money on GB and MIA, you would be taking (receiving) the points.

One way to eliminate confusion is to jot down a spread score before the games start. for example on this ticket:

The score before the game starts is:

TB 3 GB 0
MIA 7 BUF 0

When the games are over just give the points to the underdogs. In most jurisdictions, ties lose for the player. In other jurisdictions the prize payout for one tie is reduced to the next lowest payout factor. A common play in casinos is a four team pick for 10X the bet.Bet $10, win $100, but you can wager from two to twelve games. The more games you play, the higher the winning payouts.

Over/Under – One scenario is betting that the final score ill be over or under a certain number a preset number.
Prop Bets – A proposition bet is where you predict the outcome of a preset number of props on a single ticket. Example: Total field goals over/under 4. Total interceptions over/under 3. Total sacks over/under 2. Total receiving yards, total yards, and the list goes on and on.

Craps, a Table Game That’s So Mis-Understood Is Easy to Learn and Play – Here’s How

Many players avoid the casino game of craps at first because the large oval shaped table with numerous betting options seems a bit intimidating to table game players. Craps is actually easy to learn and fun to play, and here’s how:

Start at a five dollar minimum table. You’ll usually find them during non-peak hours. I recommend a buy-in at least 20X the table minimum. A button on the table will read ON or OFF. When it is in the OFF position, place your money on the table and ask the dealer for $5 chips. You will see seasoned players making various wagers. The most popular is the PASS LINE bet. Place a chip(s) in that area in front of you. When you hear the dealer shout “COMMIN’ OUT” that’s when the excitement starts and the designated SHOOTER will toss two dice. Here are the wagering choices:

Pass Line

If the shooter rolls a 7 or 11 on the first roll, you win even money. If a 2, 3, or 12 appear, you lose. Any other number, 4, 5, 6, 8, 9, or 10 becomes your POINT. A dealer will mark the point number with the ON button indicating game in progress. In order for you to win, the shooter must roll the point number before he or she rolls a 7. If a 7 appears before the point, the house wins. No other numbers matter on this wager, no matter how long it takes. The game will end only if a point or 7 is rolled.

Odds Bet

This is a wager every pass line bettor should take advantage of because it pays off in TRUE ODDS and has no house edge. If a point number is rolled, you will have the opportunity to take odds on that bet by placing an additional wager behind your pass line bet. Most casinos allow a double odds bet. For example, let’s say 4 is the point. There are three ways to win with the 4: 3 and 1, 2 and 2, or 1 and 3. However there are six ways to lose with a 7: 4 and 3, 5 and 2, 6 and 1, 3 and 4, 2 and 5, 1 and 6.Thus, 6/3 is a two to one payout. Your $10 double odds wager will earn you $20 plus your pass line bet if you win.

Don’t Pass

A very small percentage of players use this option. It works the exact opposite of the pass line. Here you are betting that the shooter will lose the roll. A wager on the don’t pass line will win if the come out shooter rolls a 2 or 3, push (no win/no loss) with a 12, lose if a 7 or 11 is rolled. Odds bets are available however your chances of winning are greater than losing, so you have to lay the odds instead of taking them. If a point is rolled such as 4, you win if a 7 is rolled first. This time 3/6 is a one to two payout so you would have to put up $20 to win $10 plus the don’t pass wager.

Be forewarned that only about 2% of players play the don’t pass, AKA wrong bettor. You will not have many friends at the table when betting wrong.

Come Bets

Come bets work the same way as a pass line bet but can only be made after a point is established. A 7 or 11 wins, a 2, 3, or 12 loses. Any other number becomes your come point and must be rolled before a 7 for you to win. You can also take true odds on your come point after the dealer moves your chip(s) to the appropriate number box. This wager is independent of the pass line wager and your come point may be other than your pass line point. Thus, if the shooter makes his or her pass line point, the game ends but your come point wagers remain active. If a 7 is rolled during the next come out roll, you lose the come bet but your odds are returned to you.

Don’t Come Bets

This play works the same way as a don’t pass wager after a point is established. You may also lay true odds. You want the 7 to be rolled before the don’t come point. Here is the one big exception on a don’t come bet: should the shooter win his or her pass line wager, and the don’t come point is made on the next come out roll, You not only lose your wager but your odds bet as well.

Place Bets

A wager on one or more point numbers (4, 5, 6, 8, 9, and 10). The bet(s) win if the number repeats before a 7 is rolled and lose if a 7 appears first. Payoffs are: 6, 8- pays 7/6, 5, 9- pays 7/5, 4, and 10- pay 9/5.

Buy and Lay Bets

A buy bet is the same as a place bet except you pay a five percent commission to the house when you make the bet but you are paid in true odds if you win. Payoffs are: 6, 8 pays 6/5, 5, 9 pays 3/2, 4, and 10 pay 2/1. A lay bet is the exact opposite of the buy bet. You must bet more to win less because your chances of winning are greater than losing.