But given earlier decisions by federal courts, it was critical that we follow a correct and appropriate path to curtail new court challenges and expensive litigation.
Voters approved the idea of legal sports betting in 2011 and the following year Christie signed a bill allowing the wagering.
“I believe we have found that path in this bipartisan legislative effort,” he added.
The new law allows sports betting at state-licensed casinos and racetracks. But the U.S.
Lesniak believes it is up to the state to determine whether sports gambling can occur and said the wagering will jump-start New Jersey’s sagging gaming revenues.
“How can that be determined when Las Vegas is taking bets already, every single day? The NFL has three games at Wembley Stadium (in London) every year where people are betting right across the street from the stadium.”
(Reporting by Steve Ginsburg; editing by Andrew Hay)
The federal court sided with the leagues, so the state appealed. Supreme Court refused to hear the case, leaving the lower court ban in place.
In a statement Friday after signing the legislation Christie said: “I am a strong proponent of legalized sports wagering in New Jersey. Monmouth Park, a thoroughbred race track in Oceanport, is planning to offer sports betting on Sunday.
“I’m looking forward to placing the first legal bet in the state of New Jersey on a sporting event next Sunday,” Lesniak said.
“If the 2014 Sports Wagering Law is not declared unlawful… the proliferation of state-sponsored and approved sports gambling in Atlantic City casinos and at New Jersey racetracks will cause immediate and irreparable harm” to the sports leagues,” the lawsuit said.
They claimed that the law violates the Professional and Amateur Sports Protection Act, a 1992 federal ban on state-sponsored sports betting.
“In order to get an injunction, the leagues have to show that they will be irreparably damaged if Monmouth race track starts taking bets on sports sporting events on Sunday,” New Jersey State Sen. states except four.. Raymond Lesniak told Reuters in a telephone interview.
The National Football League and other sports leagues filed a lawsuit on Monday in an attempt to block New Jersey from offering legalized wagering on sporting events.
In calling for the injunction, the NFL, NBA, Major League Baseball and the NCAA are seeking to block enforcement of a law that New Jersey Governor Chris Christie signed on Friday, which partially repeals a ban on sports wagering in the state.
But the sports leagues sued, saying it violated a federal ban on the activity in all U.S
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If you are going to go with a favorite, it is best to place your bet early in the week when the sharps are laying heavy money on the points. “The key to proper money management is to be sure not to bet more than you can afford to lose.”
“In an average season, fewer than one bettor in twelve turns a profit,” Gordon says. “He is not jaded by teams and does not bet with his heart. Bet at the Right Time – “The sharp bettors tend to bet underdogs, and they tend to bet them early,” Moseman says. “Squares usually bet later in the week and they tend to pick the favorites. “As for me, the best bet in football is betting the point spread or over/under totals on individual games. Avoid Exotic Bets – “For very skilled handicappers, with a proven track record, there can, at least in theory, be value in betting parlays,” says Gordon on the type of bet that combines two or more individual wagers. Big underdogs often find ways to cover the spread and they rarely give up toward the end of a game in front of the home crowd.”
2. If North Texas is his best bet on a Saturday then that is his bet.
Newspapers and popular sports sites routinely publish the lines or point spreads for games, and football insiders offer their picks to viewers each week on ESPN and other cable networks. There are almost an infinite number of scenarios that can happen in a single football game. Thanks to the juice, the only one who profits in this scenario is the bookmaker. These books change their numbers according to the betting patterns of their customers, so it is not entirely uncommon to find two or three point differences in the lines.”
Michael Konik, a sports writer and best-selling author of The Smart Money (Simon & Schuster 2006), explains why it is so hard for the recreational gambler to win at betting on football. There is a wealth of information on the Internet; it is just up to you to find it and research it daily.”
So, is it possible for the average square to become a little sharper in making football bets this season? According to professionals like Vacarro, Konik and Gordon, amateur bettors have the best chance to win if they demonstrate a little patience and follow the 10 basic tips below. “If you become an expert on a smaller conference like the WAC, you have a good chance to beat the house because sports book operators do not have the time or resources to follow this conference the way you can. To be a successful sports bettor you need to operate with a clear mind.”
Although exact figures are impossible to calculate, according to Jimmy Vaccaro, widely considered to be Las Vegas’ most influential bookmaker, Americans probably wager more than $50 billion a year on NFL and college football combined. Oakland comes to mind) seem like the Super Bowl. “Teams play inspired ball at home. Drinking and Gambling Don’t Mix – “There is a reason the casinos in Las Vegas supply you with free drinks while you are gambling,” Moseman says. Locks Don’t Exist – “Anyone who has watched sports for about a month realizes that the difference between winning and losing, especially against the spread, can be infinitesimally small,” Gordon says. They use powerful computers that can process millions of bits of data and produce a more accurate point-spread line than the bookmakers.”
But that doesn’t mean you have to bet like a “square” and throw away your hard-earned money.
9. Not all games work according to this formula, but it is usually a good rule of thumb.”
Ted Sevransky, a well-known Las Vegas gambler and sports consultant with Sportsmemo.com, agrees.
4. Shop For Numbers – “Another important aspect of betting on football is shopping for the best number,” Moseman explains. “If you listen to their advice, you are sure to lose. On college you will be able to find different lines at different sports books. “In the NFL, a game will often be totally turned around by one or two plays, or even a single penalty. So underdogs tend to be slightly undervalued – except by the sharps.”
So, how much should you bet a game?
“The bookies fear and despise a tiny coterie of professional bettors known as ‘the sharps,'” Konik says. “Thus, the bookies love and cherish the squares.”
However, Konik adds that there are some bettors who actually know how to beat the bookies. “For example, if you have a $1,000 bankroll for the season, you should generally bet no more than $50 a game.”
But even though the math says it’s virtually impossible to win on a consistent basis, Americans continue to bet on football. Slim underdogs regularly win outright. The only locks that exist are those that need keys to open them.”
“Most people with an understanding of football gambling bet between 3 percent and 5 percent of their bankroll, increasing when they win and reducing when they lose,” Vaccaro says.
3. “The sharps are usually members of a betting syndicate privy to the most up-to-date information on injuries, weather, game plans, and, most important, the real power of the teams involved.
And remember, in the immortal words of “Fast” Eddie Felson, “Money won is twice as sweet as money earned.”
“A square or recreational player might have a vague plan, but after two Corona’s he will definitely run to the window and make a hasty decision on the USC-Notre Dame game because he wants to be involved in the party atmosphere,” Vaccaro says. “There will be more discrepancy in the numbers at different sports books. If you like an underdog, it is best to get your bet in as late as possible, where there is heavy action from squares on favorites.
Betting on football games; whether it’s through a local bookie, an offshore Internet site or a Nevada casino (still the only legal place in America to make football bets), most of us have done it or know of someone who has. “Over the course of several seasons, the percentage of bettors who turn a profit is minuscule.”
And where does all that money go?
While these tips don’t guarantee you’re going to win, hopefully they can make you a little less square and a little more sharp in your picks this season. Otherwise, you’re better off doing your own research.”
Certainly not back into the pockets of the average bettor.
“The talking heads on TV know nothing about sports betting,” says Sevransky. “Common wisdom says that over the course of a long football season the average man or woman will pick approximately 50 percent winners. The NFL, for example, will have very similar numbers at most of the betting shops you visit. Also, being “in action” can make a dull late-afternoon game (Buffalo vs.
Another difference between squares and sharps is how they approach betting on game day.
“The standard bet requires gamblers to lay $11 for every $10 they want to win with the extra $1 or 10 percent known as the juice,” Konik says.
“A square is the average, unsophisticated gambler whose decision making is based on hunches, media manipulation, or spurious systems that cannot overcome the bookmaker’s inherent mathematical advantage,” Konik explains. Focus on Conferences – “The best way to win money betting football is to develop a niche and follow it closely,” Moseman advises. “Because alcohol clouds your judgment and usually helps you to make rash decisions you usually wouldn’t otherwise make. “When you’re in a good rhythm and winning, you want to increase your bets. The payout is just the same as far as he is concerned.
“The biggest mistake that amateur bettors make is they increase their bets when they are losing,” Sevransky says. The only touts bettors should consider are the ones who talk about the long haul and realistic winning percentages, which are in the upper 50 percent to lower 60 percent range.”
5. Consider Underdogs – “In the long-run, it’s easier to win betting on the underdog,” Konik says. He is not taken in by being involved in USC-Notre Dame just because it is the biggest watched game of the day.
“A sharp or smart has a plan of what he wants to do,” says Vaccaro, the director of sports operations and public relations at Lucky’s Race and Sports Book in Las Vegas. “In trying to bamboozle potential customers, many services make claims about having scouts all over the country that give them inside information and promise 70 or even 80 percent winners, as if the bookmakers were the biggest suckers in the world. Avoid Chasing Bets – “Don’t do it! There is no worse way to mismanage your bankroll than to chase your bets after a losing day,” cautions Moseman on the dangerous practice of trying to immediately win back your losses. But, when you’re struggling, that’s when you want to reduce your bet size until you get out of your slump. Money Management – “This is without a doubt the most important aspect of betting on sports and possibly the most neglected,” says Morey “Doc” Moseman, a professional gambler and sports consultant with DocSports.com for nearly 40 years. And why not? We have unconditional love for the sport and betting $50 or $100 on a game adds an extra rush of adrenaline. In fact, sports bettors must pick 52.4 percent winners just to break even.”
So, how much are we gambling each football season?
7. Chasing losses is the fastest way to the poor house.”
Even Hollywood is not immune – think Two for the Money with Al Pacino and Matthew McConaughey.
Moseman agrees and especially likes home underdogs. Giving 11 to 10 odds is almost always the cheapest price you can give.”
Also, it’s probably a good idea to disregard advice from the myriad of ex-players and football experts you see on television each week. Research Football Services – “Most sports services realize that most people who sign up with them are insecure,” Gordon warns. If you want advice about sports betting, find someone who has a successful track record. He loses year after year, according to Dan Gordon, a top football handicapper and author of How to Beat the Sports Books (Cardoza Publishing 2005). “Most people prefer to bet on the ‘better’ team, the one that will probably win the game.
“There is probably no better bet in sports than playing an underdog at home,” Moseman says