Commonly Used Terminologies in Online Sports Gambling

If you want to be successful in the Online Sports Gambling Industry, you should start by researching on the most commonly used terminologies. The basic information will help you understand how the system works and how you can be successful in it. This article will help you feel more comfortable with the most commonly used terms and definitions in online sports gambling.

Odds are the likelihood of the outcome occurring, stated in numbers form. Money line is defined as odds expressed in terms of money. Whenever there is a minus (-), you lay that amount to win a hundred dollars. Whenever there is a plus (+), you get that amount for every hundred dollars bet. On the other hand, run line is used in baseball. It is spread used instead of the money line.

In sports betting, when a player pays an additional price to receive half a point or more in his favor on a point spread game, it is referred to as buy points. When you hear the word spread, it is the predicted scoring differential between two opponents as quoted by a sports book. It can also be referred to as point spread.

If you know of a person or company that accepts bets online, then they are referred to as an Online Sportsbook. The bookmaker’s commission on a losing bet is called juice. In sports gambling, the over is a sports bet in which the bettor guesses that the combined point total of two teams will be above a specified total. On the other hand, under is a wager in which the bettor guesses that the total points scored by two teams will be under a certain figure.

When you say totals, it is defined as the total combined point/runs/goals scored in a game. Streak is the term used when you are referring to a consecutive string of winning bets, usually several, or winning hands. Occasionally, there will be no favorite on a game. The game is said to be a pick and you can have a bet of 10/11 (bet 110 to win 100) on either team.

There are still tons of online sports betting terms out there. There are a lot of online resources you can check out for specific words, from basic to the more advanced. You might get overwhelmed in the beginning but this is already a good start. The mere fact that you understand the basic ones will help you relate to other seasoned bettors and eventually, become a master at what you do.

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No Internet Gambling Allowed But States Seek to Shore Up Budgets With Online Lotteries?

Do you ever remember when you were young, and an adult told you to do something, and you asked; why, because they were doing exactly what they told you not to do? I guess it goes back to that famous quote; “do as I say, not as I do.” However, those types of things stick in our minds, and they don’t seem fair, we all have an inherent sense of fairness, and we know when we are not being treated correctly, or something crosses the line.

Now then, there may be reasons why parents and adults told us not to do something, but if they didn’t explain why, we are left with the same feelings of mistrust. Okay so, let’s talk about this for second because I have a few examples to share with you.

Right now, online gambling is not permitted in the United States. There are many reasons for this, but perhaps the biggest reason is it conflicts with the casinos, who have an incredible lobby in Congress. It would seem that folks should be permitted to gamble online if they so choose and the consensus is that folks should have that freedom. Perhaps if those gambling websites cheat them, they will soon be discovered and people will quit playing. Nevertheless the old theory of “caveat emptor” is not considered relevant here by those in the authoritative power and government. Oh, but it gets much worse.

On April 20, 2012 the Wall Street Journal had a piece titled “States Up the Online Ante – Push to Sell Lottery Tickets on the Web Faces Resistance From Retailers, Casinos,” by Alexandria Berzon. The article noted that $55 Billion was earned in sales by State Run lotteries in the United States in 2011.

The other day, there was an interesting cartoon in the Wall Street Journal. There was a father sitting at the kitchen table reading his newspaper, and the sun came up to him and said; “dad, I’m considering a career in organized crime.” The dad simply asked him; “Government, or private sector?” And I’m sure you’ve seen the bumper sticker which says; “Don’t Steal, the government hates competition!” Well, isn’t this a case in point?

After all, here we have the government which outlaws something, and then decides that it’s okay for it to do it, because it needs to sell more lottery tickets to shore up its budget shortfalls due to incompetence, and inability to manage the ever-growing blob of bureaucracy. I find this hypocrisy somewhat ironic, but I’ve also come to the conclusion, that we can’t expect anything more from our government, this is how they operate, how they’ve always operated, and how they will continue to operate in the future.

No wonder the public surveys keep coming back with a vote of no confidence or trust in our government. What a sad state of affairs indeed. Please consider all this and think on it.

My Gambling Story

I started out just like many of us: playing the fake money games online. One afternoon, I logged into my account to discover a real money balance of $5.00. With all the negative stigma society generally attaches to online gambling, I figured I probably would never put in a deposit with my own money, and this was a chance to see if I could make a few bucks and have some fun. I even played fake money limit hold’em for a couple weeks until I was beating it consistently so I could make the most out of my 5 bucks.

In December 2004 I jumped into the smallest game on the site: 10c/20c limit hold’em. With a lot of luck (and some help from the very loose games), I managed to slowly run my ‘bankroll’ into about $50, at which point I started playing $3 sit’n'go’s, which eventually became $7 and $10 sit’n'gos, and then $1/$2 limit. I was spending a lot of time reading strategy websites, most notably reading the limit hold’em articles (referenced at bottom). At this point (July 2005), my bankroll had reached about $600. I began to read a lot more about bonuses and rakeback, which are absolutely ESSENTIAL to any limit player, as I will outline below.

I began to forgo strategy in favour of hunting down the most lucrative bonuses. I was obsessed with the notion of ‘free money’ via bonuses, and my game (and bottom line) suffered as a result. I struggled playing tough $1/$2 and $2/$4 games at various sites, although I did slowly increase my bankroll. Eventually, I got sick of playing breaking even poker to earn bonus bucks, and I realized that I would never move beyond the small stakes games if I was putting ‘bonus whoring’ before improving my game, so I made a drastic change: I put bonus whoring behind me, and I took my $2,000 bankroll to the Party $3/$6 6max games, which were definitely a lot softer than the Absolute $1/$2 grind.

January 2006: I did very well for a couple months, and then broke even for the next couple. I moved up to $5/$10, and remained a slight winner. I made decent money, but the truth is I was a very mediocre player; bonuses and rakeback kept me barely profitable for a few months. At this point, my bankroll had grown to $16,000, but I compared my winrate to the disgusting amount of rake I was paying, and I decided to return to my bonus-whoring ways, albeit at the same stakes. I realized that a good rakeback deal could more than double my hourly rate, provided the tables remained soft. I did a lot of research on rakeback and bonus deals, which paid off immensely. I played at several sites through the summer and fall of 2006, eventually settling on a VERY profitable prop player deal at a major site, playing the $4/$8 and $6/$12 shorthanded limit games. After a few weeks, however, I became bored. I once again needed a change. Despite the fact that I was making significantly more with this prop deal than at any other site / game, I decided it was time to take a serious run at no limit hold’em. I had made some random, unsuccessful attempts at NL throughout my entire poker experience, but the variance of playing short-handed limit can be unbearable, and to quote a poker-playing friend of mine, “You’re the only person I’ve ever met that plays limit, bro”. I had saved a quote from a post that really stuck with me:

Change sites. Play (alot) less tables. Drop down in stakes (slightly). Think about each decesion. Post hands in strat forums. Limit yourself to a fairly small bankroll and move up in limits quickly (or down if you lose).

Do that for about a month (without falling back into old patterns) and you’ll want to shoot yourself for not doing it a year ago.

He wasn’t kidding. Around Christmas of 2006, I set aside $500 for a run at NLHE. I combined the above advice with my $5.00 limit approach: I started at the bottom, $25NL back at Party (before they had the penny tables ) I read everything I could get my hands on about NLHE, and I am very happy with my results thus far: I’m currently playing $200NL, and I haven’t played a single hand of limit since I deposited that $500 into Party. I am still learning new strategy and concepts about no limit (and poker in general, really) every time I sit down for a session, and my goal is to reach $600NL sometime this summer.

Online Gambling

Recently, the government has been making noise about banning on line gambling in the United States. While this is not likely to happen, Congress will likely try to tax the industry. This is forcing most companies to close their operations (Seattle Washington has implemented a form of the ban) or to move them offshore. Just because the administration has pushed its moral agenda onto the American Public, is no reason that citizens should give up their right to the “pursuit of happiness”.

A lot of people enjoy the online bingo games. Recently a woman won the “Queen of Bingo”* contest from one of the online sites. She won $10,000 and international recognition for her achievement. She was quoted as saying “I cannot believe it. I thought I had died and gone to heaven. I was so excited I nearly fell out of my chair.” When told of her winnings.

Boy I guess she was happy.

Millions of people gamble at casinos and other venues. Why should online gambling be singled out? Even the Catholic church uses bingo to raise money and they are tax exempt.

Bingo is a long time favorite fundraiser, not only for the church, but other organizations that frown on casino style gambling. Should the government go after theses organizations source of funding, and are they going to make up for the loss of funds? I doubt it.

May be we should remind congress that they work for us, not the other way around. Let them know that the “Bill of Rights” has not been repealed.

The New US Gambling Laws: What Does It All Mean?

At the end of September 2006 the U.S. Senate introduced “The Unlawful Internet Gambling Enforcement Act 2006″. It wasn’t so much introduced as pushed through at the back end of the “Safe Port Act”, to which some commentators have taken exception. This has caused a flurry of anxiety and (some would say) hysteria among players, website owners and online gambling affiliates alike. But what does the new law actually mean? This article has a look at the facts behind the new legislation.

The first clue is in the wording of the Act itself; it is an enforcement Act. In other words it enforces previous and existing law where legality of gaming has already been established as a matter of precedent, and also the legality and illegality of different types of gaming already existing.

I could do much worse than directly quoting the wise words from Cardplayers legal counsel. He writes that the new bill

“attempts to make it more difficult to get money into a site by forbidding US financial Institutions from funding the type of online gambling that the law has previously made illegal. The new bill does not make online gaming illegal where it was not illegal before …The bill merely speaks to the mechanism by which an online account is funded.”

In other words the Act attempts to hinder Internet gambling sites by starving them of funds, by ordering the banks not to allow players to use their credit cards to play at those sites.

There is nothing about the activity itself being illegal (where it was not illegal before). And clearly, if the gambling sites in question are offshore, then by definition they are not subject to US legislation anyway. So the only way to get at these offshore sites is through the banks and the credit card companies.

The article I quote from goes on to cite the significance of the 1961 Wire Act, which was construed to have made sports betting illegal, but not games such as poker, on the grounds that the law was never enforced with regards to poker in the ten years that Internet gambling has existed. Instead, the 33 cases which were brought under the Wire Act were pursued by “deadbeat gamblers” who simply did not want to pay their gambling debts. The judge on that particular occasion, Stanwood R. Duvall Jr, threw out all 33 suits, so ruling that online poker was not within the reach of the Wire Act’s prohibition.

Now while the lawyers are busying themselves on working out the construction of what the new law actually means, it seems that players can make a few simple choices in order to protect themselves from what might be construed:

1. Open an account at an offshore Internet casino website;

2. Ensure the site is registered with a non-US company;

3. Ensure the site is hosted by a non-US company.

The vast majority of offshore Internet gambling sites still operate in US dollars, and they increasingly offer multiple currency choices. You can select which currency you wish to use before you play. Even so, it may be worthwhile remembering that, at the time of writing, there are approximately $1.87 to the Pound Sterling, and $1.26 to the Euro.

If the law goes further it may well be necessary to apply for a credit card issued by a non-US bank. But this is still something that is subject to speculation. We will have to see how the new law pans out in practice. In particular we will have to await the matter of how the law is construed and how precedent impacts upon it.