The global gross gaming/gambling yield amounts to more than 400 billion U.S. dollars each year. Gross win from gambling represents the amount of money the gambling operation keeps from the customer’s stakes, wagers, bets etc. less the winning paid out to the customer and before deducting operating expenses. With about one third of the global gambling gross win, Asia is the biggest market for gambling and sports betting in particular. Probably the fastest growing segment of the industry is the online / interactive category, as the global online gambling market has grown at a consistent rate over the last few years from around 20 billion U.S. dollars in 2009 to more than 40 billion U.S. dollars by 2016.
If you want to make money, you need to start with a betting bankroll capable of absorbing losses. If you're going to bet in units, with an average bet of 1 unit, I would recommend a bankroll of at least 50 units. Minimum. OK so maybe you can only afford a bankroll of $1000, which means your average unit will be $20. Sounds small time I know and you want to be a high roller. Well a $1000 bankroll can quickly turn into a substantial amount with consistent value recognition and an intelligent staking plan. Lets say you bet 200 bets a year. And for argument sake lets say they are all of 1.90 odds, and lets say you hit at a 54% strike rate. Well with a fractional Kelly staking plan at the end of those 200 bets, depending on your winning consistency which should even out over a long term, your bankroll will be in the ballpark of $1100.00. Yeah I hear what you're saying - that's only 100.00 profit over the year. Well, that's just betting 200 bets a year, with a 2.6% average return per bet.
A record $4.9 billion was bet, also known as the casino’s handle, on sports in Nevada in 2017, according to the UNLV Center for Gaming Research, growing more than 440 percent from $894,564,000 in 1984, the first year that the figure was tracked. Additionally, sports made up a record 2.15 percent of the state’s overall casino winnings in 2017, up from 0.68 percent in 1984.
The NFL’s official partnership with Caesars Entertainment is a perfect example of the value of contractual relationships between leagues and the casino gaming industry. The partnerships now in place between gaming companies and each of the four major American sports leagues enrich the fan experience and validate gaming’s role as a form of mainstream entertainment.
In the time since the May Supreme Court decision, both Delaware and New Jersey have begun accepting bets on sports at casinos and racetracks. Mississippi, West Virginia, and Pennsylvania are all hoping to be in the next wave of states to do so, with many seeing the start of the NFL season as a target date for the launch of sportsbooks in these states.
The cost of my College football service is $895, the cost of the NFL service is $995 ($1,595 for both services), my Basketball service is $895 ($2,195 for all Football and Dr. Bob’s Basketball service), and the NBA Guru subscription is well worth the $1495 given how profitable he’s been ($3,295 for all Football and all Basketball, including the NBA Guru). You must factor in that cost when calculating your expected return on investment (ROI). As explained above, winning 55% on the Football Best Bets and 53.5% on my Basketball Best Bets would yield an expected profit of +45.5 Stars and let’s assume the NBA Guru profits +27.2 Stars as well (he’s averaged +27.2 Stars per season). Let’s say you decide to play 1.0% of your initial bankroll per star on the Football Best Bets and NBA Guru Best Bets and 0.8% per star on the Basketball Best Bets, as in the example above. Doing so would have an expected total return 68.0% per year based on flat-betting using your initial bankroll. Using an optimal betting strategy, as explained in the advanced money management section, would yield even higher long term returns while protecting the downside risk in the inevitable negative variance seasons that plague even the best long term handicappers.
Touts often claim to be able to hit 60% or higher, but as I explain in my essay on Bayesian Probability, anyone who tells you that their long term expected winning percentage is higher than 60% is deluding themselves. Ten or more years ago a sharp handicapper could win about 60% long term but those days are over, as odds makers have become more savvy in the past decade or so. For a bettor to claim a greater than 60% long term expected win percentage, that would be mean that Vegas would have to consistently release lines with egregious errors, and that simply just does not happen often enough nowadays for claims of a greater than 60% long term expected win percentage. Any short term win rates of around 60% or higher are simply due to blind, short-term luck. For instance, last year (2016) in the first season using a new NFL play-by-play model, Dr. Bob Sports’ NFL Best Bet sides were an incredible 66-26 (71.7%), but that record was enhanced by winning a very large percentage of close games (31-12 on Best Bets decided by 7 points or less) rather than splitting the close ones. It still would have been a great season on NFL Best Bet sides (62%) if the close games had been 50% but I still can’t expect the new model to win 60%-plus on sides based on that one season – although the play-by-play model back-tested at a very profitable 56% winners.
The announcement comes in the wake of the May Supreme Court ruling that overturned the Professional and Amateur Sports Protection Act (PASPA), the law that prevented states from regulating sports wagering. The NCAA fiercely opposed New Jersey�s efforts to legalize betting while PASPA was in effect, and remains concerned about how the betting industry could impact sports at the college level.
West Virginia and Marshall both argued in favor of receiving a small integrity fee when the state of West Virginia debated sports betting, but the final bill did not include any such royalties for schools or professional sports leagues. According to an ESPN.com report, universities including Connecticut, Rutgers, and Missouri have also met with representatives from professional leagues to discuss whether they might be able to receive an integrity fee. So far, no state sports betting legislation has passed while including such payments.
At OddsShark, we want you to make educated picks. In order to do so, we’ve done our part to make sure you have all the info you need. We list wins first, losses second, and pushes and ties are listed third. “ATS” is the record based on predictions made against the spread (see explanation above). “To Win” expresses the record supported by moneyline bets (also explained above). Finally, “Total O/U” is the record on OVER or UNDER predictions (explained above too).