“We are pleased to partner with MGM Resorts International, a clear industry leader in the sports gaming area, to work together on bringing innovative experiences to baseball fans and MGM customers,” MLB commissioner Robert Manfred Jr. said as part of Tuesday’s announcement. “Our partnership with MGM will help us navigate this evolving space responsibly and we look forward to fan engagement opportunities ahead.”
Major League Baseball (MLB) Commissioner Rob Manfred has also advocated the league changing its stance on sports betting, with both Manfred and Silver noting that the scale of illegal sports betting makes opposition to betting meaningless. He also stated a willingness to "try to shape" any future legislation at federal level. This was noted as a marked contrast to former Commissioner of the MLB Bud Selig, with Manfred going beyond tacit approval and stating, "There is this buzz out there in terms of people feeling that there may be an opportunity here for additional legalized sports betting."
Transaction costs might shrink, Moskowitz says, if online betting volumes rise and bookmakers increasingly compete. A company dedicated to that proposition is London-listed Paddy Power Betfair (ticker: PPB.UK), whose websites, like Paddy Power and Betfair, processed over $15 billion in sports wagers in 2017. Since we are a stock market publication, we should note that at 8,435 pence ($111.59) a share, Paddy Power Betfair goes for over 20-times this year’s earnings estimate and 14-times cash flow. Revenue grew 13% in 2017, with about half of its revenue from online betting in Britain and Ireland, and about 20% from Australia and on-the-ground casinos. The U.S. is just 6% of revenue, but is growing fast.
When it comes to sports betting, each person may be trying to accomplish something different. If your objective is merely entertainment, then your goal is entirely different than my goal of making a living. If you bet $100 a game on Monday night football to enjoy the game, it will cost you $5 a week if you can go 50-50. There is nothing wrong with that. It's cheaper than a movie. But that is entertainment expense, not an excellent investment vehicle.
Before you decide to buy picks, ask yourself: What is my sports betting budget (bankroll) and am I able to control it? If you are laying down $1 or $5 bets on a couple of games every week, then you certainly shouldn’t be spending more than that trying to get winning picks for even money. If you are placing small wagers like that, you will likely end up paying more for your picks than you will end up winning from those bets. Paying for picks is only worth it if you are going to end up winning more money than you paid for the picks in the first place.
The longer I have been betting, the more I have come to fall in love with the team that nobody likes. In fact, I feel better about a potential bet the uglier it looks on paper. Sounds counter intuitive I know, but the less the general public likes a team, the more I like the look of them in terms of betting value. Especially a team that might have performed well over a long period but may have had a bad run of maybe 4 or 5 games. Just watch the general public jump off them, and watch their value rise.
In considering golf wagering for the future and the potential impact of ‘integrity fees’, how will the PGA handle these types of situations with a royalty being collected by the PGA for all the golf wagering during their tournaments? The PGA issued a statement on regulation saying that it’s the most effective way of “ensuring integrity in competition, protecting consumers, engaging fans and generating revenue for government, operators and leagues.”
Tonight in Las Vegas the West Coast Conference Semifinals take place in what is an exciting time to be in Sin City. Fans from across the west have enjoyed coming to Vegas as this has been the site of numerous conference tournaments as of late. Monday we take advantage of one team we feel is getting way too much credit in this spot. Hope you join us for this Best Bet Winner.
So how difficult is sports betting math? The math behind placing a winning bet is fairly complicated, but the way to stay ahead of the bookmaker is rather straightforward. If you collect on 52.4% of your bets, you’ll break even. We’ll have more details on that number later, including why it takes more than 50% wins to break even, but first some general knowledge about sports gambling and the numbers behind it.
Take Under the Total in the game between the Monmouth Hawks and the Iona Gaels. Monmouth (14-20) reached the championship game of the Metro Atlantic Athletic Conference tournament with their 73-59 win over Canisius yesterday. The Hawks have then played 5 of their last 6 games Under the Total against teams with a winning record. The Under is also 23-10-1 in Monmouth’s last 34 games played on a neutral court. Iona (16-15) joins them in the finals with their 73-57 win over Siena yesterday as a 2-point favorite. That game finished below the 138.5 point total — and the Gaels have played 9 of their last 13 games Under the Total after playing a game that finished Under the Total. Iona has also played 13 of their last 20 games Under the Total played on a neutral court as a favorite in the 3.5 to 6 point range. Take the Under. Best of luck — Frank.
Last 4 Premier League games have seen each team get a couple of wins with Chelsea Scoring 4 and City scoring 3 goals. It remains to be seen how both the tactically sound managers will set up their teams but expect Manchester City players and Manager to show that championship mentality and come up with a big, but close, result to sneak themselves to the top position on the table for one more week and push Chelsea out of the top-4.