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Sports Betting

Learn to Play Casino Craps – The Place Bet

Be smart, play smart, learn how to play casino craps the right way!

A Place bet is a “standing” bet, meaning the bet stays working, or standing, until it wins or loses, or until you remove it. It can be made on any of the point numbers: 4, 5, 6, 8, 9, and 10. Like the Pass Line bet, it works against the number 7. After making a Place bet, the only numbers that matter are the Place number and 7; all other numbers are meaningless. After making the bet, each subsequent roll can produce one of three outcomes: 1) a 7 shows and your Place bet loses, 2) the Place number shows and your Place bet wins, or 3) any other number shows and nothing happens to your bet (i.e., all others number have no affect on your Place bet).

Place bets don’t pay off according to true odds. Instead, the house gets its advantage by paying them off at less than true odds (i.e., they stick it to the player by not paying their fair share when the player wins). UFABET

The Place odds aren’t quite as good as true odds. The house sticks it to the player to make money by paying less than true odds. For a winning $5 bet on the 4 or 10, the Place odds pay only $9, but the true odds say we should be paid $10. For a winning $10 bet on the 5 or 9, the Place odds pay only $14, but the true odds say we should be paid $15. And for a winning $30 bet on the 6 or 8, the Place odds pay only $35, but the true odds say we should be paid $36.

You might think, “How much do I put down to make a Place bet?” As always, the bet amount depends on the odds. The Place odds for the 4 and 10 are 9:5, and the Place odds for the 5 and 9 are 7:5. Therefore, Place bets for the 4, 5, 9, and 10 should be in multiples of $5. For example, a winning $10 bet on the 4 gets you $18. A winning $15 bet on the 9 gets you $21. Don’t let the math scare you! Since these bets are in multiples of $5, simply divide your bet by 5 and then multiply by the winning odds to determine your winning amount. So, for your $10 Place bet on the 4 (which has Place odds of 9:5), $10 divided by 5 = $2, and $2 x 9 = $18. For your $15 Place bet on the 9 (which has Place odds of 7:5), $15 divided by 5 = $3, and $3 x 7 = $21.

The Place odds for the 6 and 8 are 7:6, which means the bet should be in multiples of $6. For example, a winning $12 Place bet on the 6 gets you $14. A winning $30 Place bet on the 8 gets you $35. Do the math. For your $30 Place bet on the 8 (which has Place odds of 7:6), $30 divided by 6 = $5, and $5 x 7 = $35.

Know the difference between Place odds and true odds. Learn the difference so you don’t have to think about it. You don’t want to look like a newbie fumbling around with how much to put down for each Place number. (James Bond never asked the dealer, “Um, excuse me, how much is the six?”) However, if you have trouble remembering the Place odds the first time you play, don’t be afraid to ask the dealer how much to drop. It’ll be as easy as pie after 15 minutes at the table.

If you’re like me, you’ll search out and play a table with a $3 minimum bet instead of the typical $5 or $10 minimum. Suppose you find a $3 table (a few are still left in the middle of the Vegas Strip). Since the minimum bet is only $3, you can make $3 Place bets, but you don’t get the full Place odds. The payoff odds for a $3 bet on the 6 or 8 are 1:1, or even money. For the 5 or 9, it’s 4:3 (i.e., your $3 bet wins $4). For the 4 or 10, it’s 5:3 (i.e., your $3 bet wins $5).

For a $3 Place bet, you get a little less than full Place odds because the lowest chip denomination at the craps table that casinos allow is generally $1, so they can’t pay you a fraction of a dollar (i.e., cents). For example, suppose you make a $3 bet on the 5. The full Place odds are 7:5, but the reduced payoff odds for a $3 bet are only 4:3. Why? Because it gives the casino another excuse to stick it to the player! The roulette table has chips for 25 cents or 50 cents, so why can’t the craps table have chip denominations less than $1? That’s right. They stick it to you again! The full Place odds are 7:5, which means for a $3 Place bet on the 5, we divide $3 by 5 = 60 cents, and then multiply 60 cents by 7 = $4.20. So, for a $3 Place bet on the 5 or 9 with full Place odds of 7:5, we expect to be paid $4.20 when we win. The craps table doesn’t have 20-cent chips, so the casino rounds down to $4.

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Sports Betting

How to Get Started With Sports Betting

Sports betting is simply placing a wager on a sporting event. You are betting that your team, horse, dog, or driver will win. If they do win, so do you! If they lose, you lose your bet amount. Sports betting takes place all over the world, though in the United States this type of betting is not as highly accepted as it is in Europe.

Online sports betting is probably the best option for those who are interesting in trying it for the first time. If you have never tried online sports betting, you are missing so much fun and excitement, and it can all happen in the comfortable surroundings of your home! The art of sports betting can seem confusing at first, but once you are familiar with some of the jargon that is used to explain the concepts and logic behind each type of bet, it is all much easier to understand.

One of the best ways for you to experience this engaging way to bet on your favourite racing and sporting events is to get acquainted with online sports betting. However, in order to best take advantage of all that sports betting has to offer, you need to know a little more about it.

Sports Betting – The Odds

How does online sports betting work? You should start by studying the odds for the sporting event you are most interested in placing a wager upon. When using online sports betting, you can find these odds in the various online sports books used by Internet gamers everywhere. You must open an account with an online sports book before you can place your bet, but this is simple to do.

Once you have chosen where you are going to do your sports betting, you need to decide how you are going to place your bet. There are many different ways for you to wager your chosen amount of money, but first, let’s talk about the spread and how it can affect the amount you bet.

Sports Betting – The Spread

The spread is a point advantage in sports betting, which is usually given to the team that is generally expected to lose a particular sporting event. If you decide that you will bet on the team that is expected to win, they will have to win by more than the spread number and cover the spread before you are considered to have chosen correctly. If you choose the team that is expected to lose, that team will have to lose by less than the spread number in order for your pick to be considered correct. If by chance the team wins by the number of points that were chosen as the spread, the game is called a push.

No one who engages in sports betting wins a thing if a game is called as a push, but you do get the amount of your original bet back. The point spread is done in order to make the all of the bets come out even for the sports book, and is usually done for sports such as basketball or football.

Sports Betting – The Bet

If you were to bet against the spread, most likely you would place a type of bet called an 11-10, or spread bet. By betting $11, you win $10 if your team’s score covers the spread. This is another way that the online sports book makes its money.

An over-under bet is also an 11-10 bet. With this type of bet, the total score of the two teams that played will be either over or under the total score that was listed before the game was played. Betting on the score being over is called ‘betting on the ball’. Betting on the score being under is called ‘betting on the clock’.

A proposition bet is a type of bet where the online sports book chooses what the odds and the conditions of the bet are going to be. This type of bet can be most interesting, even a little fun at times, for the conditions can be as unusual as which of two football teams will make the most touchdowns, which of two basketball teams will score the most three pointers, or even which individual player will make a certain move for the team. The odds for this kind of bet are sometimes 11-10, but can be better or worse depending on the circumstances.

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Sports Betting

Top Ten Betting Mistakes

The first step to formulating a solution, is to define the problem.

The following points are areas of betting where many punters often get it wrong. My views arise from long personal experience and years of communication with successful and unsuccessful punters alike.

My aim here is to highlight these common areas of failure in the hope that I can speed up your learning curve towards successful betting.

Read the following thoughts and you may be able to side step many of the pot holes others have fallen into in the past.

1) Failure to Use Betting Banks

Most gamblers fail to understand that the best method of achieving a healthy and sustained long term profit from racing is to set aside a sum of money away from your main finances, solely for the betting of horses. Whatever method or system you are using, whoever you are following or subscribing to or however your own bets are calculated, you are better off with a “Betting Bank” that has built -in advantages that can help you. It needs to be independent from your own personal finances and needs to be protected from factors that can threaten it. This can take a lot of emotion out of the decision making process. Emotion is a factor that threatens all punters. The size of your betting bank will of course be dependent upon your own individual circumstances and free capital available.

An analogy to the world of shares perhaps may be that no financial advisor worth his salt would advise you throw all your capital into the stock market alone. The vast majority of punters fail to use any form of set aside bank. They bet randomly with what ever money they have in their pocket at the end of the week or go in too deep with stakes far in excess of their personal safety levels. A punter with a professional attitude will set aside what he can comfortably afford to invest and then determine the best use he can make of that fixed sum of capital. With a fixed sum of capital available you now move on to the next reason for failure.

2) Failure to Stake Correctly

It is vital that you consider your betting bank as capped in amount. You do not have an endless pool of resources to dip into. Betting by its nature carries inherent risks. These risks include periods of low strike rates and long losing runs. Your betting bank and staking should be adapted for the method you use. You must in advance, prepare yourself for the possibility of a worse than average sequence of losers through adoption of a sufficient number of units in your betting bank. Correct methodical staking in addition to the mathematical advantage, can also help overcome the risk of emotional reaction to a sequence of unusually positive or negative results. Take the Pricewise column in the racing post as an example.

Long term if you could get on at the advised prices, it would have returned a decent profit overall. During this time however followers would have to have endured runs of up to 40 losers in a row! Despite the overall long term profit I suspect the vast majority of Pricewise followers would have been terminated either by a failure to set aside a sufficient amount of points or through failure to cope with the emotion of the losing run. We have long since established here a strike rate of about 35% on our Best Bet selections and at an average S.P. of over 5/2 for each winning bet.

We feel able to protect clients banks as long losing runs haven’t happened and the strike rate and odds have been more than enough to ensure long steady and safe growth for your betting profits. That is in essence the key to winning money. Manage your accounts in a way that protects them as far as possible from the element of risk that the game presents you.

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Sports Betting

Tennis Betting – Tips For Exchange Betting on Tennis Matches

By choosing tennis as your preferred sport for betting, you have already given yourself an “edge” against those who bet on or offer odds on other sports. To use this “edge” to make money consistently, however, you’ll need to understand two fundamental principles first. Then apply the power of mathematics.

Principle #1

It is sheer folly to place a tennis bet (or a bet on anything) with a “traditional” bookmaker. The expression “You can’t beat the bookie” is axiomatic; you just cannot beat the bookie over time. It’s because the odds are always mathematically calculated in favour of the bookmaker. Everyone knows (or should know) that the bookie’s mathematical “edge” against the punter is necessary for him to make a profit so that he can stay in business.

Computer technology has given rise to a new form of betting, known as “exchange betting” or “matched betting”. With “betting exchanges” there is no bookie to beat; in other words, there is no middle-man. Every punter bets against another punter or punters somewhere out there in the Internet ether. Any punter (or “trader”) can place a “back” bet that a player or team will win, and/or place a “lay” bet that a player or team will lose. Thus, any punter can choose to act as an ordinary bettor and/or as a bookmaker.

With exchange betting the odds are not set by a third-party or middle-man; they are set by the punters themselves, who place requests for odds at which they are prepared to place bets (if they wish to act as an ordinary bettor), or place offers of odds at which they are prepared to lay bets (if they wish to act as a bookmaker).

As the “back” bettors gradually lower their requested odds and the “lay” bettors gradually raise their offered odds, the software on the exchange betting web site matches all the back bets with all the lay bets at the instant they coincide. The accounts of the “backers” or “layers” are then credited with their winnings automatically a few seconds after the end of the event according to its result.

Obviously, the technology for providing such a “fair” betting service must be paid for somehow. This payment is taken in the form of a commission on the punter’s net winnings on an event (or “market”). That is, commission is charged only on any positive difference between winnings and losses on the same event.

This betting system is as close to a perfectly fair betting environment as it is possible to achieve.

There are very few betting exchanges in existence, however, perhaps because the exchange betting software is so complex and therefore costly. The giant among exchange betting web sites is Betfair, with about 90% of the market at the time of writing. Others are the Global Betting Exchange (BetDAQ), ibetX, Betsson, Matchbook and the World Bet Exchange (WBX). Betfair is by far the most popular because it was the first to offer this “perfectly fair” betting environment, and is trusted to perform accurately and instantly.

Principle #2

So, why does tennis betting give you that “edge” over betting on other sports? The answer, though simple, is often overlooked even by those who bet tennis regularly. And if you’re someone who’s never bet on tennis, you’d almost certainly not have realized the significance of the tennis scoring system on the betting.

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Sports Betting

Spread Betting – How To Get Poor Quickly?

As I write this, I’m nursing a bit of a sore head and an empty wallet. In the last four weeks I’ve lost almost £30,000 spread betting for about an hour a day five days a week. So I managed to blow around £1,500 an hour. That’s really quite a chunk of cash. Actually, it’s not quite as bad as it looks. Fortunately, I was betting using a few spread-betting companies’ demo sites. These are simulations of their live betting sites that allow you to practice before you start betting with real money. I realise that I am no financial genius otherwise I would have been rich long ago. However, the fact that I managed to squander so much money so quickly does pose the question – if spread betting seems so easy, why do so many people get completely wiped out extremely quickly?

We’re increasingly seeing advertising for spread betting in investing and money management publications. In the one I subscribe to, four or five different spread betting companies take full-page colour ads each week, outnumbering any other type of advertising. Spread betting ads are already common in the business sections of many weekend newspapers and will probably soon start to appear in the personal finance sections. Spread betting could appear deceptively attractive to many savers. After all, money in a bank, shares or unit trusts will at best give us about a miserable five per cent a year before tax. Yet a reasonable run on spread betting can easily let you pocket ten per cent a week – five hundred per cent a year – completely and gloriously tax-free. So spread betting can let you earn in just one year what it would take a hundred years or more to achieve with most other investments.

Spread betters gamble on price movements of anything from individual shares, currencies and commodities to whole markets like the FTSE, Dax or S&P. It is called spread betting because the company providing the service makes most of their money by putting an additional spread around the price at which something is being bought or sold.

Spread betting appears to have many advantages compared to traditional investing:

    • You don’t have to buy anything – It allows you to bet on price movements without having to buy the underlying assets – shares, commodities or foreign exchange.

 

    • It’s tax-free – When you buy or sell shares, get paid dividends or receive interest from a bank you will have to pay taxes like stamp duty, capital gains and income tax. Unless spread betting is your full-time job and only source of income, there are no taxes to be paid as it’s considered to be gambling.

 

    • You can go long or short – When you spread bet you can gain just as much whether prices rise or fall, providing you guess the direction correctly. With most other investments, you need the price to go up before you make a profit.

 

    • You can bet on a rise or fall at the same time – If the FTSE, for example, is trading at 5551-5552, you can place two bets, one that it will rise and one that it will fall. These only get triggered when the FTSE actually moves. So if it starts going up, your bet that it will rise gets triggered. Similarly if it drops, only your bet that it will fall is triggered. So it can seem that, come rain or shine, you’ll probably win.

 

    • Huge leverage – If you bet say £50 a pip (a pip is usually the minimum price movement you can bet on), you can easily win four or five times your original bet if the price moves in the right direction. On a really good bet, you can win much much more.

 

  • You can wait for the breakout – Prices on many shares, currencies, commodities and other things people bet on tend to experience periods of stability followed by bursts of movement up or down, what spread-betters call ‘the breakout’. You can place a bet that is only activated when the breakout comes.