How Do I Set Up a Casino in the UK?

Anyone who wishes to provide facilities for gambling, or to manufacture supply, install, repair or adapt a gaming machine or gambling software is required to hold a licence authorising the specific activity to be undertaken.” Gambling Act 2005

If you wish to provide facilities for gaming in the UK you will require a licence. There are three categories of licence (operating, personal and premises) – your business may need all three kinds. Operating licences and personal licences, are issued by the Gambling Commission and premises licences are issued by your local authority.

What are the licences?

Operating Licenses – if you wish to provide facilities for gambling you will require an operating licence.

Personal Licenses

There are two types of personal licences:

· Personal Management Licence – required by all persons who occupy a specified management position.

· Personal Functional Licence – required by those individuals who work within a casino at staff level e.g. a dealer, cashier, pit boss etc

To apply for a licence you should visit the The Gambling Commission’s website at www.gamblingcommission.gov.uk [http://www.gamblingcommission.gov.uk]

What are the costs?

There are two types of fee payable for operating licences – a one off application fee and an annual fee payable within 30 days of your licence being issued:

1. Application Fee for a new casino up to £40,000

2. Annual Fee for a new casino up to £102,000

There are two types of fee payable for personal licences:

1. Personal Management Licence £330

2. Personal Functional Licence £165

When should I apply for my licence?

You should aim to submit your application as soon as possible, and you cannot start running your gambling business until you have obtained all the relevant permissions.

Horse Racing: How To Grasp Profitcapping And Return On Investment

How to grasp Profitcapping and return on investment or ROI is the main reason for horse racing and not simply racing for the sake of racing. Players are there to make money or to profit. People handicap horses so they can pick the horse they believe is going to come across the wire and make them more money than they put in. Racing’s about investing and not gambling. All gambling is investing but not all investing is gambling. You can predict a thing by yourself but it takes two or more persons to bet. When you wager anything on a bet whether it’s a car, house, money, jewelry, etc. you’re gambling.

The difference between gambling and business investing is: when you have a 51%-100% chance of losing the endeavor you’re gambling and when you have a 49% or less chance of losing the endeavor you’re business investing. Every time you invest (gamble or business invest) you need to know you’re chances of profiting or losing money in detail. Taking a business perspective of racing is the most sensible option because racing has to seen for what it is: a business. Players don’t go into detail enough to study racing as a business overall.

Players consider handicapping the main way to think about making money. But it’s a matter of understanding ROI over months and years ahead. Knowing how much can be made on a long-term basis. As an example: lets say you take a simple random statistical sampling of 2100 trifecta payouts for one year. This amount turns out to be $220,000 after all payouts are added. A ticket for each race sampled is bought and the sum invested is $100,000. You lose 1000 races and win 1100 races. When the year is over you add up all of the money you got back after the investment and it turns out to be $120,000.

You made a $20,000 profit. But $220,000 minus $120,000 = $100,000 and this is the payout money you didn’t get. And if at the years’ end you get back $85,000 then your loss is $15,000. Or $100,000 minus $85,000 = $15,000. In other words it’s what you’ve invested plus or minus what you got back. If you put in $100,000 and get back $100,000 then you broke-even. This is how to grasp profitcapping and return on investment or ROI and what it’s all about. This isn’t all there is to Profitcapping. Indeed there’s much more to say the least.

This way you can see years ahead in the game. Profit or ROI in racing is simple. You endeavor to get back more than you put in for a specific time period. Be it a week, month, year or several years. Simple statistics lets you do this and know this in a highly specific way of how much money is there and how much must be spent buying tickets over that specific time period to make a profit or Profit – capping. Capping means the process of predicting a thing. What are you going to predict? the horses and the money. This is part of how to grasp profitcapping and return on investment.

Gambling In The United States – The Domino Effect It Helped Create

Once just a gentleman’s game, U.S. gambling began its rise to the center of attention around 400 years ago. A time where gambling was the root of all evil, yet it could still help the colonies from financial issues. Deliberation over the subject went on for years and still is today, but gambling never stopped to wait for an answer. While challenges were being discussed, different forms of gambling were being created to stave off bankruptcy and other money problems.

The first company to hold a gambling lottery was a bank in Jamestown, Virginia, which’ of course’ was an instant success. It wasn’t like the state lotteries you see today, but still was beneficial for a short period of time. After awhile, England felt as though they weren’t making a profit from this form of gambling, so they ended up banning it from everyone. However, that wouldn’t last long as all thirteen colonies eventually were allowed to hold their own without question.

Four centuries removed, you can drive along the eastern states and see prestigious universities like Harvard, Princeton, and Yale that were all started by revenue created by state lotteries. As several other venues were being built thanks in part to U.S. gambling, greed started to as people in the colonies wanted freedom and independence from England. While this was over several issues, lotteries were one of the bigger issues never mentioned in history books.

Obviously the most prestigious form of gambling at the time, state lotteries weren’t the only U.S. gambling going on around the country. By this time, horse races had already been around since 1665, but most bets were between owners only and not of a spectator kind. Also making its mark on cities throughout the colonies in the 1800s were casino style gambling with cards and dice. As areas grew, so did the size of gambling halls and local watering holes where games could be played.

Then came the Mississippi River and everything it had to offer with barter and trading through several owners. Business this way was quicker, and several well known individuals met on riverboats to play some casino style gambling. This was the true introduction of the professional gambler. Winning enough money in small towns to play on the riverboats with the big boys was a common tale. After awhile, many were thought to be cheaters and many would perish at the hands of people who lost money to them.

Just as the state lotteries were part of the reason for the American Revolution War, it was the Civil War that ended the time of professional gambling in the 1860s. While not the main reason, it created a business stand still, which led to no traffic up and down the great Mississippi. For the next sixty years, gambling would be loved by many and hated by that many more. States that had good fortune would create gambling booms like in California and Nevada,

As years moved ahead, people like Al Capone and his mob used gambling money to front their businesses, while at the same time sports were becoming one of the major things to bet on during this period. Fast forwarding to the seventies, lotteries held around the country were making over a billion dollars on a annual basis. Gambling in the United States was considered a normal part of living and still is today.

Now we’re in the 21st century and the gambling business is booming with billions upon billions of dollars being made annually. The Super Bowl is the most anticipated gambling event each year, and land based casinos are popping up all over the country. Still, many Americans protest gambling due to family members who have ongoing problems with controlling their addictions. However, the future looks bright and the government will have a hard time trying to give up all the tax revenue that is made off of gambling alone.

Which brings us to the future, and online casino gambling. While the United States was one of the leaders in gambling online, President Bush tried to ban them from using debit cards that are bank issued to try to control the outbreak. It didn’t take long for U.S. players to realize that adding money to different accounts like Netteller or Moneybookers, then transferring it over may take a little longer, but the end result is the same.

There will never be a solution to gambling no matter if it’s online or offline, and others will always protest the morals and what it all stands for overall. A cat and mouse game that will never be solved, and while everyone continues to argue back and forth, the sport of gambling will only become bigger. Hurry, someone go check the odds on that, you might want to bet on it.

The Casino Wave

When I visited Monte Carlo, Monaco a few weeks ago I ran into an old colleague, we had been in the same card counting team almost twenty years ago, we sat down at Havana Café and we discussed old memories, she had spent all the time since we met the last time at the Blackjack tables in Atlantic City, US, while I had spent my time at the European casinos. After half an hour of old memories we slided in to how the casino world has developed since it went online.

A business, a world going online usually make things easier, but the question is if it really has with the online gambling business. For starters it is not that easy to protect yourself against credit card fraud and rigged games and to kill a myth, when I’m writing this (December 2005) it doesn’t exist any kind of authority to control the online casinos.

But that’s not the most important. What you really should ask yourself is if gambling really is more available than it was fifteen years ago, when the online casino world began to develop. More people then ever are of course gambling, but is that really because of the dotcom industry? What I mean is that gambling has always been available to every one and that regardsless of the fact that there are really few “real” casinos in Europe, there have always been exceptions to the non-gambling laws, everything from the restaurant casinos in Germany to the Jack Vegas slot machines in Sweden, and Monte Carlo is never to far away.

I’m referring to the fact that you can always, and always could gamble, but it’s first when the online gambling business came that people are doing it. Politician all over the world explains this with that the easier it is to gamble, the more people are gambling.

I who have been in this business for twenty years, know that that isn’t the answer. I would say that this actually a proof of how easy manipulated we humans are. The reason I disagree with the politicians is of course because the online gambling business actually never did that well until the beginning of 2003, 13 years after the first casino went online. There for, the reason more people are gambling than ever is not because of the availability, it’s because of the online marketing methods they are using.

And then the press should have it’s piece of the criticism, when it suddenly became cool to make your living out of poker then every kid sat behind the computer for hours, trying to become a pro.

But the ones who cannot be blamed enough is the politicians all over the world with their disgusting moral. If the casinos had not been forbidden world wide there wouldn’t be any online casinos, a censureship of these casinos would of course be restrictions in our democracy, but something has to be done, and since politicians refuse to give people the right to gamble on a real casino without the risk of getting your credit card stolen or without the risk of rigged games, they all refuse to let the casinos in, but if you want to get poor and manipulated, please do as every one else, go with the casino wave.

Why Soccer (Football) Live Betting is Such a Profitable Business

Sports betting is increasingly becoming an emerging online business. Billions of $$$ are wagered on every match day. Live telecast of matches further intensify the excitement.

Bookmakers’ statistics revealed that soccer betting is the most popular among sports betting. Soccer is the most watched, most played and the highest grossing sport on the planet.

Why Soccer Is The King Of All Sports

Soccer is the King of all sports because it is a simple game so easily understood.

It is No. 1 because it is a sport that can stir up so much passion.

Each game is loaded with suspense… fantastic or reckless finishes, players pushing their human bodies to the limit or playing like zombies. This cocktail of emotions can be experienced in every match – the sickening feeling in the stomach, the anger, the joy, the elation. Its pure entertainment, and it makes the adrenaline flows faster and more intense.

At its best soccer is considered magic, that is why names like Maradona and Pele resonate across the world.

Soccer carries the largest fan base in the world of sports. More and more games are being televised live which means more games are offered for live betting than in any other sports niche.

The Internet and live telecasting of soccer matches have made soccer live betting immensely popular. (*Live betting is also known as in-running betting, in-play betting, in-game betting and running ball).

There is a wide variety of live bets available for punting such as Asian Handicap betting, full time score, half time score, full time over/under, half time over/under, number of corners full time, number of corners half time, etc.

The Odds Tell A Story

Many savvy punters now recognize the main difference between live bets and normal bets. Before the introduction of live betting, punters used past data and analysis to determine their bets. But with live bets, punters can now know how the match unfolds as the odds tell a story. The movement of the odds is an indication of the performance of the teams playing at that time.

Bookmakers adjust the odds by minutes or even seconds according to the level of play of the teams. So the odds movements tell the “scenario” from the bookmakers’ point of view which cannot be far off.

From the odds changes, the punter must be able to identify the odds indicators on the exact time to bet, and also the time to exit the bet, that is, to cut loss when necessary to limit the financial damage.

The ability to ‘decode the odds and read the game’ is the recipe for live betting success.

Profitable Live Bets On Every Match Day

In every match, there are numerous punting opportunities. There are profitable live bets to be made in the first 20 minutes of play, during the course of the game, and the last 10 minutes of the match. You do not need complex technical analysis to find them and profit from them. The key lies in the ability to identify them and profit from these opportunities.

In card games, if you want to win, you have to win the game. But the beauty of soccer live betting is you can still WIN if you have betted on the losing team.

In live betting, the odds indicators are profit opportunities. But the punter must know how to spot them to take profitable actions. It’s all about timing.

Have A Slice Of The Lucrative Soccer Live Betting Pie

Soccer live betting is absolutely insane right now! There’s never been a better time for punters to get in on the live betting bandwagon and have a slice of the lucrative soccer live betting pie.

Think about how many games are being played on every match day during the soccer season. That’s plenty of games begging for your action.

If you have never engaged in soccer live betting experience, you really don’t know what you have been missing.

Fox Lake IL Gaming Laws

As early as 2009, 3 years before Fox Lake adopted the 230 ILCS 40 (code for the new video gaming laws), Ed Bender, the then Fox Lake Mayor had seen both sides of the coin regarding the video gaming act. If enacted, he said it might bring the town a bad reputation but at the same time, perhaps it would also attract video gaming enthusiasts from neighboring towns and states where video gambling was illegal. Today, seven years later, video gambling has done more good than harm for Fox Lake and its community. And true to his words, many businesses have sprung up back to their feet. Business data shows that the enactment of this legislation has been good for the whole of Illinois and more local governments are adopting this new law.

By 2012, Fox Lake was waiting for the Illinois Gaming Board to finalize its regulations for the state-run video gaming network so that qualifying business people in the village could apply for their video gaming licenses. Thus, Fox Lake is one of the towns in Illinois that adopted the new video gaming regulations as soon as the law was enacted. How has this affected business in Fox Lake? Many proprietors say they have benefited greatly as we will see later in this article.

At the time, many people thought it was good news – they were right

In 2008, the Illinois smoking ban had gone into effect and it had affected many businesses, with some tavern owners reporting up to 30% less business. However, there was a silver lining in the cloud with the enactment of the 230 ILCS 40 because it would bring back business and compensate the owners for the business they had lost since the smoking ban went into effect.

In a board meeting involving business people and Fox Lake leaders, 10 business people asked the leaders to vote in favor of adopting the new video gaming laws.

But the laws were not accepted from the word go without opposition. Mike Behan, the then Police Chief for Fox Lake had written to the board showing his concerns about the intended adoption of the law. Among his concerns was that legalized video gambling would cause more alcoholism, financial problems in the local families and drunken driving. He was also fearing an increase in embezzlement and fraud cases but he did say that the police would consent to whatever the board voted for.

So, after the adoption of the new video gaming law of Illinois in 2012, has Chief Mike Behan been proved right or has the former mayor been vindicated by an increase in business? All of the evidence available points to the latter. You can confidently conclude that the Fox Lake adoption of the new Illinois video gambling laws was well advised and that it has brought more financial benefits than harm to the locals.

October 2012 to October 2013

The state of Illinois passed the law legalizing video gambling in 2009. Under the new law, fraternal organizations, truck stops, bars, veterans groups and restaurants could set up to 5 terminals in their establishments. They would however have to get a license for each terminal from the Illinois Gaming Board. From 2009, it took a further three years to streamline the regulation but when everything fell into place, Fox Lake was one of the first places to get on the state-run video gaming network, in 2012.

In the first year of approving video gambling licenses in the suburb, the city officials had only budgeted for $12,000 but to their pleasant surprise, the amount of money that video gaming raked in for them was many times more than that, at a handsome $93,338. This revenue was used for funding the Pace Bus program and since then, video gaming revenue has been directed to huge improvements in the village. For a small place like Fox Lake to earn more than $90K in the first year of operation, it shows that there is a lot of potential in video gambling and that is what prompted the licensing authorities to license more establishments to host video gaming terminals.

Fox Lake establishments that have video gaming terminals

Many businesses have enjoyed the benefits of legalized video gambling. One of these businesses is Stella’s Place that offers restaurant services as well as video gaming services. But it is the gaming experience that you will get there that is so outstanding, with more than 40 of video poker games and slots. The beautiful ambience and the good food add to the warmth of the place, attracting more diners and gamers.

It is open every day from 8.00Am to 2.00AM and while it has many items on the menu, gaming is the main course. It is the ideal entertainment place for grownups who want to have a video poker experience to try their luck.

J’s Sports Bar and Grill in Fox Lake has also been a big beneficiary from the proceeds raked in from video gaming. The owner of this establishment once said that video gaming saved the business from closing. Video gaming with voucher payments is now one of the biggest attractions on the J’s Sports Bar menu.

Fox Lake Country Club has 5 gaming terminals, the maximum number that is allowed by the law. The total amount won here is $8,421,675.44 so far. This establishment offers an 18-hole golf course and because it is open to the public, it is a very popular venue for summer vacations and video gaming.

Hidden Point Bar & Grill offers video poker from its three video gambling terminals. This is in accompaniment to some of the tastiest Mexican pork tacos that you will ever taste in the world. The total amount of money won at these three terminals comes up to more than $1.5 million.

Conclusion

There is no doubt that the 2012 decision to allow Fox Lake to get on the state-run video gaming network was a good decision for all parties involved. Business has grown exponentially with some proprietors saying that having video gaming terminals in their establishments saved them from closing down. The local and state governments have also benefitted by getting more revenue to run community programs for the benefit of their citizens. With legalized video gambling in the state of Illinois, more income and better business opportunities have been generated.

Social Benefits of Online Gambling

Online gambling has many social benefits due to its efficiency and convenience. The first benefit derived from the online betting is the provision of ample family time. In our current lifestyles; we are marred by over stretched schedules leading to having none, or very little time for our families. Online gambling has solved this; rather than spending time in the physically casinos the player can now stay and play at home. When playing in your house you are near your children and wife. In this way they will not feel neglected; you are next to them if they need you.

Online casinos are cheap and convenient in time and finance. The registration and playing charges are minimal; this eliminates family conflicts stemming from overspending on the family budget. For inflation has affected every part of our lives things are costing a lot including the recreation activities. The online gambling will save you on fuel and impulse playing due to incitement by others who are winning while you are losing. Harmony in the family gives the children healthy and excellent atmosphere to grow.

The online gambling business has reduced crimes in the society hence enhancing security. People are earning from the casino winnings thus need not indulge in crime. The new businesses started using the gambling rewards increase the earning opportunities to the owners and creates more employment. People with steady income have no time to engage in criminal acts. The payments options availed are secure in that people need not carry hard cash with them; this has reduced the crime rate.

These online gambling activities have also engaged the people’s time; ‘idle mind are dangerous minds’. When people are busy they will least think of taking part in crime like drug trafficking and drug use, robberies and other crimes.

The rewards offered, the taxes, and the investments done using the online gambling winnings have affected the living standards of the citizens positively. The money has been used to fund community projects as building schools, offering sponsorships and scholarships, building hospitals, rehabilitating the sick, creating more housing facilities, building roads and other infrastructure, improving sports and paying salaries to different people. In the process of accomplishing these projects many people are employed and businesses boom due to consumption of materials needed

Once the living standards of a community are raised you will see good co-existence between the people thus stimulating more development cooperation. The online gambling prizes and the donations from the casinos have frequently been used to care for the environment; trees are planted, water sources, fauna and flora being conserved, garbage removed and other environmental activities.

Lastly, the online gambling ventures have reduced congestion in urban area. Congestion of people contribute to less efficiency, disease transmission and also crime; rather than people running to casinos after work to play they head straight home where they play the online casino games on their computers. This eases the strain on the local governments in provision of the crucial amenities as water, lightning and security in the town centers.

Facts About Sports Betting Businesses

The betting trade gives to over 400,000 people winning prizes and offers huge tax income to local governments. Communities concerning sports betting have altered from an associate to an extensively conventional movement. Sports betting are synchronized as a consequence of participation. Illegal activities that some of these companies run, are outrageous! Based on some researches they have made money over $400 billion. So as you see not every company that handle spot betting operate legal and legit activities.

Sports betting businesses handle a comprehensive deal of making bets. There are a bulky amount of sports betting on global basis. These companies operate online and on handset sports betting choices. Some of them have created robots to predict some games. These robots have sophisticated devices that can help these companies to foresee some game’s results. The sports betting firms operate in various languages. People from everywhere participate in each game by putting their money on a particular play.

There are sport gambling firms that introduce the greatest bid of tax-free probability on sportive events. Some imply that certain sport companies that operate gambling have certain mob activities.

Who will verify the legality of such companies? Do they operate as a singular firm or do they operate as a syndicate and group of sport gambling companies? There are some gambling businesses that operate as a value chain and some operate as a single company. Businesses which run their gambling trade as a chain of companies, gain more power than those single companies and small gambling businesses.

Some companies such as: nightclub services and bettor’s services verify their money online in real time. Numerous businesses give a diversity of online sport by means of the alternative of 24/7. Sports gambling businesses usually approve businesses before taking farther activities. After the approval, they precede the gambling activities.

The bettor whose finances are secured can easily start their gambling venture in no time. Sports betting in supplement to their approval present bettor’s different sports upon which they may put their bets, bid bettors with a swarm of dissimilar kinds of bets. Sports gambling businesses are requisite to be approved and synchronized. The bettors who make their bet on the games are assured that their accounts are safe.

Many sport betting businesses encompass various offers such as: coupons, parlays and teasers. These businesses provide bets which comprise totals margin, futures alien singles, live plus Asian handicap. Players and gamblers from around the world participate in playing at these online gaming. Every year such companies earn not only their return of investment but also their profit margin increase every year. Many players put their money on the most important sport games. This way they can win a lot of money. Some as I have mentioned earlier in this article apply mechanisms and robots to predict some games. Thus an outsized quantity of money will be placed on games that have higher probability in winning!

As many online mechanisms have been computerized, many betting companies have been attempting to produce an artificial intelligent system that can help them to increase the probability of winning.

Betting is a Business – Gambling is For Idiots!

My question to you today is, how much profit are you really making from gambling? (And please be brutally honest with yourself when answering that question!)

I hope you are winning! If you are then well done to you, as that surely is the goal for most people, but even if you are a rare winning gambler, are you making as much as you could? However if you’re not a winner then don’t worry as your not alone. In fact you’re in very good company, as an amazing 98% of gamblers lose money long term.

So assuming you are not winning, do you know why?

Well I’m going to hazard a guess the reasons are something like this;

a) Betting in the wrong types of races,

b) Blindly backing favourites (especially odds on shots)

c) No sense of money management,

d) Undisciplined approach

e) Chasing losses

f) Maintaining a ‘gamblers mentality’.

However if 98% of people are losing money it stands to reason that 2% must be winning, so who are these elite 2% and what is it that they do differently to the majority?

Well the elite 2% are the professionals and semi-professionals like me and we approach betting as a business. The betting industry like to call us ‘professional gamblers’ but lets just make one thing absolutely clear here, one thing we are NOT are gamblers and this description couldn’t be further from the truth – we don’t bet for fun, or for the sake or thrill of it. We bet for one reason and one reason alone – TO MAKE A PROFIT!

I’ve said this many times before and I’m going to say it again – ‘Betting is a business and gambling is for idiots’ – So let me try and explain the difference between betting and gambling.

As I have already stated I am a professional and as such I am in the business of betting for only one reason – to secure slow and steady long term profitability. To achieve this outcome betting professionally has to be BORING and MUNDANE, from a psychological point of view the result of just one race becomes almost irrelevant to me, as in the long term I know I will make a profit from my betting strategies.

The point of running any business is to make a profit and to achieve this outcome I need the following three elements to work in my favour:

a) A betting bank,

b) A staking plan

c) A betting strategy which will deliver profits over the long term.

The betting bank needs to be big enough relative to my stake size to withstand the inevitable losing runs. It is also important that psychologically the betting stakes are well within my betting comfort zone, meaning that my pulse is never racing either before during or after a bet.

The moment your pulse starts to race should immediately alert you to the fact that you have stopped betting and are instead gambling, something has gone wrong with your strategy and you have become either uncomfortable with the size of your stake or have lost confidence in your chosen betting strategy. The inevitable result of this will be a breakdown of discipline and a desire to start chasing your losses, which is something I NEVER do. When I have a poor day then my attitude is always the same ‘cest la vie’, there will always another day.

I have many diverse and varied betting strategies within my betting portfolio but for the purposes of this exercise let me use my ‘Hughie’ Place Betting Strategy as an example of the above philosophy in action.

‘Hughie’ Place Betting Strategy

Here are the Hughie results for the six months to 01 June 2009. (I could use any 6 month period from over the past 9 years, in fact some previous half yearly figures would show higher profits. But these are the latest figures and emphasise the points I am trying to make.

The results are based on a betting bank of £400 and the stakes being used are as follows £2, £4, £8 and £12

Oct 1 + 77.63

Nov 1 +129.90

Dec 1 + 14.34

Jan 1 +179.83

Feb 1 +116.37

Mar 1 +169.58

Apr 1 – 3.62

May 1 + 13.81

Jun 1 + 77.78

The first thing you will notice is the relatively small and ‘boring’ size of the stakes I am using in relation to the size of the betting bank. By staking such a small percentage of the betting bank on the ‘Hughies’ takes all the stress away instantly, as the bank is never in any danger of going bust and the stake size is always well inside my betting comfort zone. Some of my members bet the ‘Hughies’ to much bigger stakes, however if the stakes are doubled or trebled then so must the bank.

As you can see you could comfortably follow this particular betting strategy to the advised stakes and at betfair sp safe in the knowledge that win, lose or draw over a long term period of say 6 months you would be comfortably in profit. You wouldn’t need to watch any races biting your finger nails praying that a particular horse hung on for a place, because you would be confident that the strategy works and one or two horses not placing wouldn’t make one jot of difference to the ability of the strategy to deliver a long term profit.

I keep using the phrase ‘long term’ because it is essential that you understand that it takes this long-term approach in order to succeed with any betting strategy. Just have another look at the ‘Hughie’ results above and you will clearly see that the months of March and April were not good months for the ‘Hughies’. At the time I remember saying regularly in my daily column that it was probably down to the transitional period of switching codes from the ‘jumps’ to the ‘flat’. For me though that’s just part and parcel of any strategy – we will have these bumps but will come away unscathed as all that matters is to maintain a long term strategy. The plan works, as it doesn’t require me to either lose faith or panic. That said any member who joined in March or April and followed my advice to concentrate on the ‘Hughies’ would have been pretty downhearted by the end of April as it would appear to them that the ‘Hughies’ are a poor bet. However any member joining last December enjoyed a terrific run and would have had a totally different opinion of both ‘place betting’ and me.

I think this point clearly demonstrates the importance of taking a long-term view of any betting strategy (12 months minimum I would argue)

Anyway this example of how safe, slow, steady, boring but consistent profits are generated month after month after month is just one aspect of a strategic and professional betting approach and hopefully demonstrates the difference between the excitement of gambling which is for thrill seekers and the boredom of betting which is my business.

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:

  1. TB 3 GB 0
  2. 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.

If you visit Vegas or other jurisdictions that permit sports gambling, Good Luck!