The thrill of winning is probably pretty close to the same for each group, though the handicappers also have the satisfaction of working hard and getting rewarded for it.
The way you make money handicapping and betting on horse races is in finding a good bet.
Your chances of success are much greater if you educate yourself, prepare, practice, and work hard, but there are no guarantees. That edge is what separates gamblers from handicappers and is why, in the long run, handicappers win more, but in all fairness, they don’t just win it, they earn it.
. There are thousands of people trying to make a living from horse racing by handicapping the horse races and then betting on horse races. The only work they do is to walk into the club house and maybe read a simple list of horses and riders. The ones who depend upon luck or some other esoteric method are more like lottery players than handicappers, but the thing they all have in common is that all there money goes into the same pool and some from each group will be successful while many will not.
The big advantage that the handicapper has over the gambler is that he or she has an idea of each horse’s chances of winning and therefore, how much a horse has to pay to win in order to make money on such bets in the long run. There are many more people, perhaps millions around the world, trying to make money betting on horse races depending upon luck or some other system to be a winner.
On the other hand, the ones who depend upon luck invest nothing but money and very little time. If the success rate for handicappers is 5-10% then it is probably 1-2% for those depending upon luck.
For some people, horse racing handicapping is an intellectual sport and they prepare themselves and work hard at it
It’s easy to see why fans may be tempted to gamble on their favorite teams and athletes.
All or nothing: Gambling on sports tends to be a zero-sum game. And in neither instance can you be guaranteed to be correct,” said Randall Fine, managing director of The Fine Point Group, one of the casino industry’s largest consulting firms. A bettor gambling on the Green Bay Packers will instantly lose his or her entire $500 bet if Aaron Rodgers and his teammates fail to win or cover the spread.
But don’t let those similarities fool you. While many stocks offer steady returns, investors sometimes hit the jackpot (think: buying Apple back in early 2009 or Tesla in 2012).
But take it from one person who has lots of experience in both worlds.
“A lot of people regard investing as gambling, but I frequently say no.
“Betting is more difficult and riskier,” said one resident of Hoboken, New Jersey, who bets on illegal gambling sites and also invests in stocks.
Even the unlucky investors who jumped into the market at its peak in October 2007 eventually made their money back when stocks reclaimed their pre-recession levels in 2013.
Related: 4 reasons September could be good for stocks
The betting appeal: Americans bet an estimated $380 billion each year on sports.
That’s the percentage of time that Stovall’s research shows the S&P 500 — the gold standard in the stock market — has increased in value during the years since 1926.
“A large, steady company has a low chance of plummeting and causing you to lose all your money, but even Peyton Manning doesn’t cover the spread sometimes,” he said. People often invest in funds that buy dozens or even hundreds of stocks, which helps reduce the risk.
Manning is really, really good at what he does for a living.
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The same can’t be said for those who bet big on the Denver Broncos last Super Bowl.
And investors have greater access to tools that can minimize the risk of losing money.
“You can hold onto your betting tickets all your life, but you’re not going to get squat,” said Stovall. Gambling on sports may be more fun, but it’s definitely a more risky use of money than putting it in the stock market.
Such hedging tools are not as readily or even feasible to sports gamblers, Fine said. Heck, even his commercials are funny. Gambling on football star Peyton Manning to win might seem like a safe bet, especially compared with picking winners in the stock market. He asked for his identity to be withheld due to legal concerns.
At the same time, investing in stocks actually carries higher upside potential. For example, a stop-loss order instructs a broker to dump a stock when it tumbles below a specific price. And of course, they both hate to lose. Which casino in Atlantic City, Las Vegas or Macau pays the bettor 73% of the time?” said Sam Stovall, chief investment strategist at S&P Capital IQ.
To put it another way, the stock market is a lot more forgiving than the MGM Grand (let alone your local sports bookie).
Related: Apple and 9 other stocks hit new records
Investors also have the ability to spread their money out among many stocks.
In the long run, investors have the chance to make more money because there are fewer downside risks.
“You’re making a wager based on some facts and some intuitions.
A stock can theoretically be held onto for an infinite amount of time, but a sports bet can end in the blink of an eye. The stock might go up and down some, but it typically doesn’t go to zero.
However, someone sinking $500 into Apple stock has little risk of losing that entire initial investment, especially in the short term.
Related: How $2 billion Clippers bet could pay off
Gamblers and investors also have far different time horizons.
CNNMoney (New York) First published August 31, 2014: 8:14 AM ET
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They both believe they can predict the future, and they sometimes fall into the trap of making decisions with their hearts instead of their brains
She bet that both teams would score more than 45 points. They scored 61.
Polia said, upon hearing the news, she fell to the floor of the law firm where she works in disbelief and, minutes later, said she was going out to lunch.
The final game of the parlay was on Monday night, where she had the Lions as a three-point underdog. The Panthers beat the Giants by three. The Patriots and Seahawks were 14-point favorites and they both won by 17. Even though she was getting higher odds for picking against the spread, she said she spent time just picking who she thought was going to win the game instead.
The Chargers, as a two-point favorite, beat the Dolphins by 16. The Chiefs, as an eight-point favorite, crushed the Ravens by 20.
Her dream, she says, is to make Vegas a pit stop on the way to owning a beach house in California.
One of the biggest long shots in betting history will be cashed on Wednesday afternoon when Tayla Polia gets paid $100,005 for her $5, 15-leg NFL parlay that came through this week.
Polia then called up William Hill and the person on the other line informed her that she was picking against the spread.
“On Sunday morning, my boyfriend and I were sitting on the couch talking about how spreads worked,” Polia said. William Hill paid out a couple times in Delaware, where betting on the cards is permitted.
“I somehow drove back home to tell my boyfriend in person,” Polia said. “So I thought it was strange when I looked at it [Tuesday] morning and saw that I won.”. Polia had the Giants as a five-point underdog.
For William Hill sports book director Nick Bogdanovich, this weekend wasn’t a good one, to say the least. A progressive pot of $170,782 was split by 17 people.
Thanks to one of the most improbable betting stories, that might happen sooner rather than later.
Aside from the Giants as five-point underdogs, Polia’s card had the Vikings as a five-point favorite, and they won by 21. “He was frustrated since I wasn’t getting it right away.”
Polia said she has loved sports her entire life — a Celtics logo tattoo on her hip is a testament to her love of Boston, which she left because she got sick of the winters.
The 26-year-old Polia, who had just moved to Las Vegas two months ago, got 20,000-to-1 odds on the parlay card on betting firm William Hill’s mobile site. The Packers won by 10 as a three-point favorite. She cashed in by being on the right side of the point spread in 14 games and correctly picking the over in the Steelers/ Broncos game.
The closest game she had was the Steelers, who were six-point favorites on the card, beating the Broncos by a touchdown after spotting Denver a 17-point lead. They beat the Saints, 35-27.
The against-all-odds story gets better: Polia said this is only the second bet she has placed in her life.
Bogdanovich said the $5 15-team parlay card for $100,000 has hit before. Polia also was required to pick the over or under on that game. She had the Falcons as a three-point underdog, and the Texans and Redskins as one-point underdogs; they won and covered. Her card had the Cardinals and Bengals as four-point favorites, and they won by 23 and 10, respectively.
“I remembered that I picked the Giants and they lost,” Polia said. “Of course, he didn’t believe me.”
An hour later, Polia, with $20 in her account, risked $5 on the parlay. Not only did Polia’s payout come through, but a 15-game parlay where bettors just have to pick the winners also hit
Kent State and Missouri both covered. Some of the odds did seem pretty good. Kansas (boy did Holy Cross give the Jayhawks a scare!) isn’t going to announce that the NCAA is investigating it for improperly recognizing hundreds of points scored in Big 12 games from 1999.
Speaking of auditing, the fact that stats in college basketball cannot be manipulated is actually a reason why betting on a college basketball game might be a wiser move than buying a stock. Fortunately, a $100 windfall at a blackjack table that day kept me even for the day. Hey, I actually thought the Waves would win the game outright (similar to how many investors were convinced back in early 2000 that tech stocks could only go higher and higher) and even have a chance of upsetting Oregon in the second round. I occasionally get angry emails from readers who disapprove of negative comments I make about stocks they own. Pepperdine was competitive for the entire game but missed some crucial shots in the last few minutes (the bitter loser in me would say that they choked) and lost by eight.
All in all, I made six bets on Thursday and won none, for a total loss of $100. So I did not hedge. If Pepperdine covered, we’d both win $120.
LAS VEGAS (CNN/Money) – This will be blasphemy to hardcore followers of Wall Street, those who think of the market as a rational way to try and accumulate wealth. “Best bet on the board?” observed my friend Jamey Tesler, “Ian McKellen for Best Supporting Actor at 6-1. You can’t actually make bets – - they’re only for “entertainment purposes” – - but many of us were left scratching our heads about the favorites for the major awards.
I reacted quite angrily any time one of the CBS announcers said a bad thing about a team I bet on. If Wake Forest won by more than 4 points he would lose his parlay bet but win $20 on the Wake bet. Grrr)
My friend, being a prudent lawyer, decided to bet $22 dollars on Pepperdine’s opponent, Wake Forest. There are even ways to hedge and minimize your losses if you really know what you’re doing. A sports book during the height of March Madness is a wild, profane, testosterone-charged pit fueled by greed and fear.
Moulin Rouge was listed at 3-1 to win Best Picture: the second favorite behind A Beautiful Mind. OK, there certainly has been some point shaving in the past – - the City College of New York scandal of the 1950s comes to mind – - but that doesn’t even come close to the scam that was Enron.
I, however, was not so wise. Sounds exactly like the trading floor of the New York Stock Exchange.
Betting on basketball isn’t even as risky as you might think. (Go Quakers!) Part of me wants to bet big on Penn (they were four and a half point underdogs as I wrote this) so I can reap the financial rewards when they win. You don’t have to worry about whether or not Duke coach Mike Krzyzewski set up special purpose entities in order to keep some of star player Jason Williams’ turnovers off the stat sheet. When the color commentator pointed out that Tulsa is a small team, I probably did not need to act as if he was insulting my mother.
That’s what sleep deprivation does to you folks.
Why betting is better than investing
Like investing, gambling has a lingo that you need to learn in order to be successful. I was convinced that Pepperdine would cover. All three teams had to cover in order to win the bet, which paid off at odds of 6 to 1. (The spread is the number of points that the favored team is expected to win by while parlays are wagers that allow you to bet on several games in order to increase your payout.) And just as a market neophyte would be confused by a streaming quote feed, the rows of neon numbers on a sports book’s massive board is certainly overwhelming for the uninitiated.
Hoops junkies pore through the stats published in the USA Today college basketball special pullout section (an essential purchase for any NCAA fan) with the same amount of rigor that accountants use to audit financial statements.
There’s also the emotion factor. I maintain that getting too emotional about a stock is not a good thing. What if I bet on Penn with the spread and they don’t win but lose by only three? Would it make me happy to profit from a Penn defeat? This is too disturbing a thought to consider any further.
Odds for the Oscars
It would have been nice to be able to make real bets on the Oscars though. A friend of mine and I placed the same $20 bet on a 3-team parlay: Kent State, Missouri and Pepperdine. Kind of like the way VCs invest in many risky companies with the hopes of having one big initial public offering make up for all the flops, I made several “money line” bets on huge underdogs. It’s kind of like making a covered call on an option, selling the right to buy shares at a certain price while also having a long position on the stock.
When it comes to sports, the numbers for the most part don’t lie. Huh? Ewan McGregor singing Elton John (quite badly I might add) is more worthy of the cinema’s highest honor than The Lord of the Rings, Gosford Park or In the Bedroom? Whatever.
With that in mind, I have no idea what to do when my beloved alma mater Penn plays California on Friday. So it would essentially be a wash. It was totally irrational. Betting the money line means you think a team will win the game outright, regardless of the spread.
Betting on sports is legal in Nevada and most of the casinos in Vegas have a section called the sports book where people place their bets and watch the games. But after spending most of Thursday watching college basketball at the Paris Casino’s sports book in Las Vegas, I can safely say that betting on the NCAA Tournament has a lot in common with investing in stocks.. Pepperdine, a 4-point underdog, played after these two games were finished. Just goes to show that you can’t discount the importance of luck any time you put your money to work.
In addition to the NCAA action, you can also get odds for the Oscars. Penn didn’t cover, losing by 7 after this story was published. But I, hate to admit, am a bit of a hypocrite in this regard.
Most of my friends and fellow gamblers that I talked to would stick to betting on games with the spread but I foolishly followed the venture capital style of investing in college basketball. But another part of me is slightly worried. Gandalf, baby!”
(Disgruntled writer’s note: As it turned out, my fears were for naught. Example. Instead of P/E ratios and mutual funds, you have “point spreads” and “parlays”
And as is the case with the Arkansas-based giant, many times this will be more profitable than being extremely selective and doing a small amount of volume, even if the mark-up is higher.
Making it more difficult for sports bettors is that some sports services will claim to have won 200 units in a particular sport, but don’t mention that they release 10- or 20-unit plays, along with several 100-unit “locks” at the end of the year if things aren’t going so well and they need something to base next year’s advertising on.
With baseball season coming back in about 4 months, many sports gamblers will be seeing ads from different sports services claiming winning percentages of 65-percent for baseball, and that’s entirely possibly, but what the services aren’t saying is that the majority of their selections were favorites of -200 or more, turning that 65-percent handicapping into a losing proposition.. At the end of the month, the 55-percent handicapper would have gone 83-67 for a gain of 9.3 units, while the 60-percent handicapper would have gone 18-12 for a profit of 4.8 units, so the 55-percent handicapper has made nearly twice as much.
For the bettors that do their own handicapping, however, units won is really the only thing you should be concerned with, as that ultimately is going to translate into the bottom line. In the question above, it would be much better to be a 55-percent handicapper if you were playing 150 games a month, as opposed to a 60-percent handicapper playing one game a day. A winning percentage of 55-percent sure doesn’t sound as sexy as a 60-percent handicapper, but if your volume of plays is high enough, it can certainly be much more profitable.
If somebody were to ask you if you would rather be a 60-percent handicapper or a 55-percent handicapper, which would you choose? The obvious answer is that it’s better to be a 60-percent handicapper, but that isn’t necessarily true.
The 55-percent handicapper is using what is commonly referred to as the Wal-Mart Approach, which is to have a lot of volume with the expectation of grinding out a small profit. The only statistic that sports bettors should be concerned with is units won, which is the amount of profit, or loss, they have over time, and not worry nearly as much about winning percentage
Online casinos offer a multitude of gambling game options designed to appeal to the adventurous or the conservative player. Shooter must roll a seven or eleven on the come-out, or first roll to win or establish a point. The shooter is a winner if point is made on follow up rolls. Slots are composed of spinning reels with an assortment of symbols on each reel. Among the many sub-categories of betting on roulette are: betting on which color the ball will land, betting on any one of the three columns on the roulette table, or betting on a specific set of twelve numbers.
Also known as “twenty-one” as the cumulative total of the face value of the cards cannot exceed twenty one to win. Blackjack is played against the house, and not other players.
Slots are the most popular of the no skills required online casino games, and is a veritable cash cow for the casinos, with the odds firmly stacked in favor of the house. The hand with the total value closest to nine wins. Among the most popular poker games to play online are:
- Texas Hold ‘Em (by far the most popular)
A small, marble-like ball is placed into a spinning wheel that has red and black numbered slots. The slot machine’s reels are lined up on what is known as a payline. Bingo!
The total value of two dealt cards must not exceed nine. Face cards are valued at ten and aces at one or eleven at the players option. There are countless books and online sites detailing game rules, strategies, etc., and it is suggested the player take advantage of these before attempting to play for money.
- Caribbean Poker
As you would expect, games of pure chance, with no skills required by the player offer terrible odds.
- Joker’s Wild
Literally thousands of betting options. If the symbols are not aligned in a winning combination, you lose.
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. The right combination of symbols must be aligned with the payline in order to win. In poker you are playing against other players, and not against the house. Keno is one of those games, and is really the casino version of a lottery draw. Bets are based upon which slot the ball will land when the wheel stops spinning. If a seven is rolled before point is made, the shooter loses. In Keno a computer randomly selects numbers from a group of eighty and the player must guess which group will be chosen.
Played against the casino’s software and not against other players.
This article was posted on September 05, 2006
- Seven Card Stud
- Jacks or Better (most popular)
- Deuces Wild
Poker entails examining your hand and guessing what your opponents have. The following is an overview of some of the more popular online games, both multi-player and single player, and is not intended to be a tutorial. A two, three or twelve is an automatic loser on the come-out roll.
This article explains the process for the main bookmakers in the UK.
My Experience with Gambling Sites
Towards the end of 2011, I began taking advantage of risk free bets on the William Hill website. While the bets were risk free, though, I found myself hooked on the spinning wheels and bonus rounds. I read through William Hill’s responsible gambling guide and found out about self exclusion. However, deleting your account is not enough as you can reopen your account at any time. . You can do it. I made the decision to permanently disable all my online gambling accounts. I found out about these risk free bets through a very popular money saving website based in the UK. I had a talent or a knack for gambling and I took my winnings up to £600.00.
Soon, I found myself logging into my William Hill account first thing in the morning and then every fifteen minutes whilst I worked from home.
Once you lose the ability to control your spending, your best course of action is to remove your access from your favorite sites. The forums on the money saving site were full of people bragging about four-figure wins from these bets. I went from making risk free bets to making one off £1.00 bets until I was regularly spending £50.00 on a single spin.
I first tried to cancel my accounts but within a day I had reactivated them and was gambling again. Below, I will let you know my experience with each company. Generally the sites will not discourage you and instead assist you if you want their help. Good luck!
Self Exclusion on Gambling Sites
Online gambling can be fun hobby if you are able to set your limits and control your spending. However if we were all capable of doing that, then there would be no profits for the online bookmakers.
By early January 2013, I was heavily overdrawn and realized that my gambling was no longer fun and if I was to keep my self out of trouble I would need to take some serious action.
If you feel that your gambling is no longer under your control, then the option to disable your accounts for a set period of time is available. To fully disable any access to your online account you will need to enter into a “self exclusion” agreement with the company involved
That growth, combined with increases in revenue from Windows software licenses and other key segments, helped offset a big decline in revenue from the Nokia smartphone business that Microsoft largely shut down last year.
If Amazon has been the undisputed king of the cloud, analysts say Microsoft, Google and a few other tech giants are emerging as rivals. But Nadella has positioned Windows 10 as part of a broader software ecosystem that includes money-making online services like Skype and the ad-supported Bing search engine.
As evidence the investment is paying off, Microsoft Corp. The latter includes licensing fees that PC makers pay for Windows software, which saw an uncharacteristic increase, offset by declining revenue from smartphones and Xbox consoles.
SAN FRANCISCO (AP) — In a world where there’s a smartphone app for everything, one company __ Amazon.com Inc. That helped boost Microsoft’s overall sales to $22.6 billion, after adjusting for deferred revenue, for an overall increase of 2 percent.. — has long been the host for an outsized share of online software and computing services.
In a rare concession, Microsoft signaled last week that it was backing off its stated goal of getting Windows 10 on a billion devices by 2018. But cloud computing is “the area that offers the highest potential for the entire company to grow its way out of a very mature PC business,” said Dan Morgan, senior portfolio manager at Synovus Trust, which holds Microsoft shares.
Amazon pioneered the cloud business almost 10 years ago, when the online retailer began renting out unused capacity on its own servers. It’s helped drive up Microsoft’s stock price by 15 percent over the last year, despite sluggish sales of PC software and the near-collapse of its floundering smartphone business. But sales from the “More Personal Computing” segment fell 4 percent. The company’s stock was up about 4 percent in after-hours trading Tuesday following the earnings report.
IBM and Google have 7 and 5 percent, respectively. Like Microsoft, IBM reported this week that its cloud revenues increased in the last quarter, despite a broader decline in its traditional software business.
For consumers, competition in the cloud-computing industry could mean their favorite social media site or streaming entertainment app doesn’t depend on a single company to keep its service running. The company doesn’t disclose revenue for its Azure cloud computing service by itself. Increasingly, that’s also true for big companies like General Electric and Boeing, which provide online data and other services for their commercial customers, and which recently signed deals to move some of those services to Microsoft’s cloud.
Revenue from the division that includes Microsoft’s Office productivity software was up 5 percent. But Microsoft’s “Intelligent Cloud” division — which includes Azure and some software that customers use in their own data centers — reported revenue of $6.7 billion, up 7 percent from a year earlier. Estimates vary, depending on how you define “cloud computing,” but analysts at Synergy Research Group say Amazon still has more than 30 percent of the market, while Microsoft has grown to 10 percent — partly on the strength of Microsoft’s promise that its cloud services are compatible with Microsoft software that customers already have on their own computers.
Results from Microsoft’s latest quarter underscored that trend. Analysts say the timetable was probably slowed by a continued slump in global PC demand, as well as Microsoft’s failure to persuade consumers to buy Windows-based phones.
Nadella has poured billions of dollars into building new data centers around the world, hoping to position Microsoft as the leading alternative to Amazon in selling online computing power — housed in remote centers or “clouds” — to internet startups and big corporations, as well as consumers.
Microsoft CEO Satya Nadella wants to change that.
Microsoft still relies heavily on the PC business, and it’s been aggressively promoting Windows 10, the latest version of its operating software for PCs and other devices. reported Tuesday that its Azure cloud-computing business more than doubled in sales last quarter, compared with a year earlier. The competition could mean lower prices and more innovation, both for businesses that buy cloud-computing services and for consumers who use popular apps — from Netflix to Pinterest and Airbnb — that run in the cloud.
“Some companies will want to work with multiple cloud providers, so if anything goes wrong, they have redundancy,” said Frank Gillett, a tech analyst with Forrester Research.
Some investors worry the cloud business isn’t as profitable as selling traditional software, since the latter didn’t require massive spending on data centers.
For Microsoft, meanwhile, cloud computing has been the company’s biggest source of growth in recent quarters
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