Sports Betting

How the House Makes its Bread on the Spread

How does a casino make money on sporting bets when you bet against the spread? Nick L.

Whenever you place a point-spread type wager, Nick, you lay 11 to win 10. That means if you want to win $100, you have to wager $110 no matter which team you are betting. If you win, you will collect $210-- your $110 wager plus the $100 you just won. This commission, also called a vigorish (a.k.a. vig), is the compensation taken by the house on every sport bet wagered.

My brother-in-law never makes a bet on his favorite football team, but on the final score. What type of bet is that? Cindy H. St. Louis, MO

Football betting, Cindy, offers you the ability to wager on the combined total of points scored by both teams during a game. This bet is called a "totals" wager or an under/over bet. Winning an over bet requires that more points be scored than the linemaker's total. Winning an under wager requires that fewer points be scored.

What percentage of sports bets do I have to win to be even against the casino? Jessup C. Internet

To break even against the house edge, you need to win at least 52.38 percent of any point-spread wagers you make.

What is your longest winning streak betting sports? Matt P. Utica, MI

I once developed rotator cuff tendonitis patting myself on the back when I picked winners in 19 out of 20 horse races over two days when my ponies either won, or placed, at Del Mar. Also, I have never lost a dime handicapping the Indianapolis 500. Other than that, see Before I Shuffle.

In our office football pool, I place near the bottom almost every week. Any advice on what I can blame my continuous losses on? Randy V. Fresno, CA

Sports betting is a combination of both skill and luck. Your wins, Randy, come from your superb handicapping skills. Just blame your losses on a late game interception or fumble.

There are too many sports Web sites on the internet and too little time to find them. Any one-stop locations that list all the major sports. Robert D. AOL.com

Time for shameless self promotion: Go to my award winning web site at http://winner.com and click on Lines/Scores/Sports. There you will find more than 100 of the best sporting links on the internet.

When the casino sports book has a game circled, what does it usually mean? Marty C. Riverside, CA

A circled sporting event indicates that you will not be able to bet the normal maximum. If the normal maximum betting limit is $5,000, the casino may accept only a $2, 000 wager on a circled game. Circled games generally mean that the sports book is unsure of the correct line or the status of an injured key player is unknown.

I realize that I am betting a long shot when I bet a 10-team parlay, but what are my true chances of hitting it? Lorenzo D. San Jose, CA

The casino will pay you 500 for 1 when you hit a 10-team parlay, but your chances of hitting one are 1,023 to 1. Ouch! Too sweet a profit for the casino for my hard-earned money.

So who is going to win the Superbowl? Everyone on the street

As a born-again Cheesehead, I will be a pig in you-know-what when the Packers win-- and win big they will. Take the Packers and give the points. (WARNING: Cheeseheads are self-acknowledged experts on matters such as milking cows and making cheese-not unbiased handicapping.)

Before I Shuffle: A gambler was hopelessly hooked on football betting. Nothing else interested him. Unfortunately, he lost almost every bet he made. Finally, even his bookie felt bad for him. "You lose all your bets," said the bookie. "Why don't you bet on hockey instead of football?"
"Hockey" said the gambler in dismay. "But I don't know anything about hockey!"
--Veteran Losing Gambler

Got a question about gambling? Write to: Deal Me In, 774 Mays Blvd. Suite 10, Incline Village, NV 89451 or e-mail:winners@winner.com · To order Mark Pilarski's "Hooked on Winning" audio cassettes-laminated win cards package ($12.95 plus $2. S&H) call (800) WINNERS.

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