New tax angles for gamblers | Reuters

Linda Stern can be reached at linda.stern@thomsonreuters.com; Editing by Gunna Dickson.; Linda Stern tweets at www.twitter.com/lindastern.; Read more of her work at blogs.reuters.com/linda-stern)

. “Maybe five years from now, you’re going to see a number of new games online; many of them have yet to be invented,” said Michael Pollock, managing director of Spectrum Gaming Group, a research and consulting firm.

— Some states are better than others. If you are deemed a professional gambler, you can deduct more than you make, producing losses that can reduce your tax bill significantly. unfair toward gambling,” says Russell Fox, a Las Vegas tax expert who prepares the returns of poker aficionados, horse bettors, slots players and more. At least you’ll cut down on travel expenses.

The main limitation, from Fox’s point of view, is that the IRS distinguishes between recreational and professional gamblers — and only pros can take lucrative tax losses for their expenses. tax court disallowed the claim of a taxpayer who spent much of his spare time playing the slots, winning $25,534 in the process. You still have to take the income as taxable, but you’ll lose the deductions.

(The Personal Finance column appears weekly, and at additional times as warranted. Of course Nevada’s kind to those who play (or work) at gambling, so living in Las Vegas instead of traveling there may always be an option. And only the pros can take tax losses for their expenses.

Does that mean you can now write off all those Knicks games and bar nights you and your fantasy league buddies attend? What about the Vegas sprees that support your habit? Sorry, not so much.

Here’s what you need to know if you enjoy the games of chance and want to save money on your taxes.

— You can win, but you can’t hide. According to Fox, if you’ve got gambling income and losses, you probably don’t want to be from Hawaii, New York, Ohio, Wisconsin, or a handful of other states, because they have various rules which either disallow gambling deductions or subject them to alternative minimum taxes, or add extra taxes onto gambling businesses. Some states disallow gambling losses, or subject them to their state’s alternative minimum tax rules. Here’s how: You’re allowed to take as much in gambling losses (the actual amount you bet and lose) as you won. If you win a bunch of money, but aren’t a pro, you can only deduct your losses up to the amount that they zero out your winnings. But Florida has outlawed fantasy leagues. And whether they are businesses is a whole other question that doesn’t seem to have been tested. “Gambling winnings are always taxable income,” the IRS notes. It’s very hard to prove that your gambling activity is a business. He claimed betting losses of that amount plus expenses of $15,455. And they appear in different places on your tax return, so anyone who doesn’t itemize their deductions will lose out. The IRS has a checklist of behaviors that it looks at to decide if something’s a business, and having fun is on it. If you really enjoy gambling and have other income coming in, and don’t keep good records, you’re probably just going to be considered a recreational gambler, even if you recreate a lot, says Fox.

— Hobbyist gamblers don’t get the same breaks. The good news for people who field their own fantasy football, basketball or baseball teams is this: It’s usually legal to do so. If that results in a gambling business income that is a negative number, you can use that negative number to reduce any other taxable income you may have.

— Of course, there’s a catch. and I could add many more ‘verys’… The law, which regulates online gambling — the Unlawful Internet Gambling Enforcement Act of 2006 — specifically carves out fantasy leagues as a protected activity. That enables them to reduce that taxable income by the amount they bet or spent on participating (as long as they don’t create a loss.) But proving you are a professional fantasy sports player? “I seriously doubt it,” says Fox. The Justice Department cleared the way for states to start legalizing online poker and other online betting games. The bar is higher for a professional gambler than it is for a professional painter, babysitter, dogwalker or eBay merchant, Fox suggests. “You have to prove it’s your livelihood, and that’s hard to see.”

Fox and other analysts do believe that the administration’s new position will eventually lead to many more legal games and gambling opportunities. Fox is an enrolled agent — a special class of tax preparer that qualifies him to represent clients before the Internal Revenue Service.

But whether the people who spend money on those ‘opportunities’ can actually cash in on the tax breaks that might be associated with them is another question.

— The fantasy leagues are still operating in the grey. But the tax court agreed with the IRS’s claim that he wasn’t really running a gambling business, largely because he had a day job as an X-ray technician that supported him, and because he wasn’t running his gambling business in a businesslike manner. Then you can also deduct your expenses, such as travel costs, tournament fees and the like. That includes the $250 you get if you call the final four right in your office NCAA pool, and the amount you win when the players in your fantasy football team have a good week.

By Linda Stern

| WASHINGTON

WASHINGTON In the waning days of 2011, the federal government has handed gamblers two gifts. As recently as July of this year, the U.S. “The tax code is very very very… Some fantasy players are getting 1099 forms listing their winnings. And the Internal Revenue Service agreed to a tax court decision that will allow professional gamblers to take big tax losses.

— Pros get big write-offs

10 Tips for Betting on Football

If North Texas is his best bet on a Saturday then that is his bet. “Over the course of several seasons, the percentage of bettors who turn a profit is minuscule.”

7. “He is not jaded by teams and does not bet with his heart. Research Football Services – “Most sports services realize that most people who sign up with them are insecure,” Gordon warns. 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.”

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.

4. 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. So underdogs tend to be slightly undervalued – except by the sharps.”

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. 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.”

2. 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. Focus on Conferences – “The best way to win money betting football is to develop a niche and follow it closely,” Moseman advises.

“The bookies fear and despise a tiny coterie of professional bettors known as ‘the sharps,'” Konik says. 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.

“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. Otherwise, you’re better off doing your own research.”

“There is probably no better bet in sports than playing an underdog at home,” Moseman says. “There will be more discrepancy in the numbers at different sports books. Oakland comes to mind) seem like the Super Bowl. If you want advice about sports betting, find someone who has a successful track record. “In the NFL, a game will often be totally turned around by one or two plays, or even a single penalty. And why not? We have unconditional love for the sport and betting $50 or $100 on a game adds an extra rush of adrenaline.

So, how much should you bet a game?

Even Hollywood is not immune – think Two for the Money with Al Pacino and Matthew McConaughey.

Certainly not back into the pockets of the average bettor. Slim underdogs regularly win outright.

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.

But that doesn’t mean you have to bet like a “square” and throw away your hard-earned money.

“In an average season, fewer than one bettor in twelve turns a profit,” Gordon says. “Thus, the bookies love and cherish the squares.”

“The talking heads on TV know nothing about sports betting,” says Sevransky. Shop For Numbers – “Another important aspect of betting on football is shopping for the best number,” Moseman explains. Also, being “in action” can make a dull late-afternoon game (Buffalo vs. “Because alcohol clouds your judgment and usually helps you to make rash decisions you usually wouldn’t otherwise make. Chasing losses is the fastest way to the poor house.”

But even though the math says it’s virtually impossible to win on a consistent basis, Americans continue to bet on football. Consider Underdogs – “In the long-run, it’s easier to win betting on the underdog,” Konik says. “Squares usually bet later in the week and they tend to pick the favorites. “Most people prefer to bet on the ‘better’ team, the one that will probably win the game. “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.

6. 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.

1. “Common wisdom says that over the course of a long football season the average man or woman will pick approximately 50 percent winners. 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.”

3. Bet at the Right Time – “The sharp bettors tend to bet underdogs, and they tend to bet them early,” Moseman says.

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.

“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. But, when you’re struggling, that’s when you want to reduce your bet size until you get out of your slump. The payout is just the same as far as he is concerned. They use powerful computers that can process millions of bits of data and produce a more accurate point-spread line than the bookmakers.”

Ted Sevransky, a well-known Las Vegas gambler and sports consultant with Sportsmemo.com, agrees.

And remember, in the immortal words of “Fast” Eddie Felson, “Money won is twice as sweet as money earned.”

Another difference between squares and sharps is how they approach betting on game day.

5. 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. On college you will be able to find different lines at different sports books. 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. There are almost an infinite number of scenarios that can happen in a single football game. “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. “Teams play inspired ball at home. “If you listen to their advice, you are sure to lose.

Moseman agrees and especially likes home underdogs.

So, how much are we gambling each football season?

And where does all that money go?

However, Konik adds that there are some bettors who actually know how to beat the bookies.

“The biggest mistake that amateur bettors make is they increase their bets when they are losing,” Sevransky says. “The key to proper money management is to be sure not to bet more than you can afford to lose.”

“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. There is a wealth of information on the Internet; it is just up to you to find it and research it daily.” .

“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. In fact, sports bettors must pick 52.4 percent winners just to break even.”

10.

9. Thanks to the juice, the only one who profits in this scenario is the bookmaker. 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). 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. “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. The only locks that exist are those that need keys to open them.”

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. To be a successful sports bettor you need to operate with a clear mind.”

8. The NFL, for example, will have very similar numbers at most of the betting shops you visit. He is not taken in by being involved in USC-Notre Dame just because it is the biggest watched game of the day. Not all games work according to this formula, but it is usually a good rule of thumb.”

“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. 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. “As for me, the best bet in football is betting the point spread or over/under totals on individual games. “For example, if you have a $1,000 bankroll for the season, you should generally bet no more than $50 a game.”

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. “When you’re in a good rhythm and winning, you want to increase your bets

10 Tips for Betting on Football

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.

4. Oakland comes to mind) seem like the Super Bowl.

And where does all that money go?

Certainly not back into the pockets of the average bettor. Bet at the Right Time – “The sharp bettors tend to bet underdogs, and they tend to bet them early,” Moseman says. 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.”

10.

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. “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. “If you listen to their advice, you are sure to lose. “He is not jaded by teams and does not bet with his heart. “Common wisdom says that over the course of a long football season the average man or woman will pick approximately 50 percent winners. Shop For Numbers – “Another important aspect of betting on football is shopping for the best number,” Moseman explains.

Moseman agrees and especially likes home underdogs. “The key to proper money management is to be sure not to bet more than you can afford to lose.”

“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.

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. 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. They use powerful computers that can process millions of bits of data and produce a more accurate point-spread line than the bookmakers.”

“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.”

And remember, in the immortal words of “Fast” Eddie Felson, “Money won is twice as sweet as money earned.”

“In an average season, fewer than one bettor in twelve turns a profit,” Gordon says. Slim underdogs regularly win outright. If North Texas is his best bet on a Saturday then that is his bet.

But that doesn’t mean you have to bet like a “square” and throw away your hard-earned money.

“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.

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. Research Football Services – “Most sports services realize that most people who sign up with them are insecure,” Gordon warns.

So, how much should you bet a game?

5. “Most people prefer to bet on the ‘better’ team, the one that will probably win the game. 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. Also, being “in action” can make a dull late-afternoon game (Buffalo vs. Focus on Conferences – “The best way to win money betting football is to develop a niche and follow it closely,” Moseman advises. “As for me, the best bet in football is betting the point spread or over/under totals on individual games. “For example, if you have a $1,000 bankroll for the season, you should generally bet no more than $50 a game.”

However, Konik adds that there are some bettors who actually know how to beat the bookies.

2. In fact, sports bettors must pick 52.4 percent winners just to break even.”

Even Hollywood is not immune – think Two for the Money with Al Pacino and Matthew McConaughey.

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. “When you’re in a good rhythm and winning, you want to increase your bets.

8. Giving 11 to 10 odds is almost always the cheapest price you can give.”

So, how much are we gambling each football season?

1.

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 will be more discrepancy in the numbers at different sports books. To be a successful sports bettor you need to operate with a clear mind.”

“There is probably no better bet in sports than playing an underdog at home,” Moseman says. He is not taken in by being involved in USC-Notre Dame just because it is the biggest watched game of the day. There are almost an infinite number of scenarios that can happen in a single football game. The payout is just the same as far as he is concerned.

“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. “In the NFL, a game will often be totally turned around by one or two plays, or even a single penalty. Consider Underdogs – “In the long-run, it’s easier to win betting on the underdog,” Konik says. 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).

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. On college you will be able to find different lines at different sports books. So underdogs tend to be slightly undervalued – except by the sharps.”

Another difference between squares and sharps is how they approach betting on game day.

Ted Sevransky, a well-known Las Vegas gambler and sports consultant with Sportsmemo.com, agrees.. 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. There is a wealth of information on the Internet; it is just up to you to find it and research it daily.”

3. But, when you’re struggling, that’s when you want to reduce your bet size until you get out of your slump. “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. “Because alcohol clouds your judgment and usually helps you to make rash decisions you usually wouldn’t otherwise make. Not all games work according to this formula, but it is usually a good rule of thumb.”

“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. If you want advice about sports betting, find someone who has a successful track record. And why not? We have unconditional love for the sport and betting $50 or $100 on a game adds an extra rush of adrenaline. “Teams play inspired ball at home. “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. The NFL, for example, will have very similar numbers at most of the betting shops you visit. 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.”

But even though the math says it’s virtually impossible to win on a consistent basis, Americans continue to bet on football.

“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. 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. “Thus, the bookies love and cherish the squares.”

7. The only locks that exist are those that need keys to open them.”

“The bookies fear and despise a tiny coterie of professional bettors known as ‘the sharps,'” Konik says. Thanks to the juice, the only one who profits in this scenario is the bookmaker. 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. Otherwise, you’re better off doing your own research.”

6. “Over the course of several seasons, the percentage of bettors who turn a profit is minuscule.”

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. “Squares usually bet later in the week and they tend to pick the favorites.

“The talking heads on TV know nothing about sports betting,” says Sevransky. 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. Chasing losses is the fastest way to the poor house.”

9

Compulsive Gambling Leaves a Trail of Destruction

This was In addition to fudging bank statements so that she didn’t know he was siphoning off their other savings account. Gamblers do not think any further ahead than the next bet. I’ve been talking to a disease for most of my life, not a real father. His weird relationship with money was passed on to his kids. By that time, the damage is done and it is usually irreversible.

© by Macteacher 2013

Forgiveness Comes…Eventually

My father’s inability to own up to his destructive behavior is a big reason for my current unwillingness to speak to him. Money enables the gambler to “stay in the action,” a gambling term for active betting.

It’s Not Just The Betting

A gambler’s true addiction is money. He had money for expensive vacations, expensive jewelry and nice cars, but paying for his kids college education was out of his reach. I also resent all the money that my grandparents left being swallowed up by his disease. Any financial relief is out of reach because no matter how much money a gambler can get their hands on, it is never enough to satisfy their insatiable craving for betting.

Almost as Bad as the Gambling…the Lying

When we uncovered my father’s gambling addiction, the devastation to my family unit was irreparable. As an adult child I also am suddenly worried about having to support my parents at some point. This makes gambling a very tough addiction to break, because like food addictions, the gambler is addicted to something they have to use in everyday life – money.

Gam-Anon and other organizations preach forgiveness above all else. Their low self esteem compels them to live like high rollers – and spend on luxuries when they can’t even pay the mortgage. The sum total of my father’s income is now a meager Social Security check.

This is another symptom of the compulsive gambler: Their skewed relationship with money. In order to keep their secret they will lie to anyone, spouses, children, parents, coworkers and friends. We figured it out because my father had tripped himself up by trying to cover his tracks. If it had not been for my quick thinking, they would have lost everything. He was never generous with money, even though he always had a wad of bills in his pocket. My sister and I have struggled for most of our adult lives to build a healthy respect for money. I know that I will eventually have to forgive, right now I’m just trying to figure out how to sit in the same room with a parent that I never actually liked or trusted.

The other part of me resents his obsession with money and being the hot shot while I was growing up. How does someone live with themselves?

It’s Never Enough

A man who has spent a lifetime telling other people how to invest for emergencies has ended up penniless. Part of me wonders how he sat down over breakfast every morning with a woman who has taken care of him for 50 years, while he was robbing her blind. He has no assets. They spend their lives trying to cover their tracks. He was a fairly successful insurance man with 50 years in the business, yet when the true extent of his addiction came to light last year, we were dumbfounded. Money is what they need to fuel their habit of placing bets, whether it be lotto cards, horse racing or blackjack. Gamblers will function quite well as long as they have a ready source of cash, such as a family member or income from a business or investments. They make financial decisions based on how much money they can hoard for gambling. In the blink of an eye, more than half was gone. This inability to plan for the future is another symptom of the disease of compulsive gambling. He never saw any reason to purchase any property or make any sound investments. You just get worn out and tired, just really tired..

It’s Exhausting For the Family

Gamblers Can Keep on Going…

The insidious thing about gambling is that a gambler who has access to money can literally support their habit for many years without getting caught. They view money as something to play with, almost like Monopoly money. Gambling is a disease after all, and you can’t blame someone for being sick. Any adult child of a compulsive gambler who thinks they will see any type of inheritance is fooling themselves.

The other insidious thing about problem gamblers or compulsive gamblers is the pathological lying. It was money she was counting on to supplement their income when they reached their eighties. It has been almost a year since the truth was revealed, and I am still angry at the waste and the bleak future my parents face as their fixed income slowly becomes inadequate to meet their needs as they get older. Money is slowly siphoned from the source until there is nothing left. He has no savings, and he is too old to make up for lost time. This is not something I should have to worry about with people who earned a good living during their work lives. Deep down they hate themselves for their habit, but like children, they are unwilling to come clean.

How Do They Live With Themselves?

Even though I know it is a disease and he really can’t help himself, part of me resents him for not being adult enough to seek help sooner. It’s a twisted mindset that allows them to blow everything they have while bills go unpaid. As most adult children of any kind of addict know, it’s not that you actually hate them – that’s too toxic to carry around. They live their lives in a fantasy world where the next big win is right around the corner. As it turned out, my father had helped himself to an annuity my mother had religiously contributed to every month for 25 years during the course of her teaching career. We’ve both finally reached a place of sanity and serenity in our own lives.

They Usually End Up Penniless

My father has reached his seventies without saving a penny. If not for my mother’s pension, they would be out on the street.

Some gamblers do experience big payoffs, but the money is quickly spent on placing more, and bigger bets

Online Sport Book Gambling by Darren Dunner

Some bet on sport book just for fun and excitement. Some bet on their favorite sport just to make the game more exciting no matter what the point spread may be. This will give you a better idea of their services and help you select the site accordingly.

Considering the number of sport betting sites on the web it is difficult to select the best one of the lot. Make sure to do a proper research on the game in order to make more money. Online sport book gives gamblers an opportunity to be a part of dozens of bets within seconds. The winning amount is paid to the bettors on the completion of the sport event or if not completed, when played long enough to become official, otherwise all bets are returned. More basically people bet on sport books to make money. It is important on part of the bettor to read the rules and guidelines of the sport books carefully before placing their bets. . Online sport book gambling has become a source of living for may people all over the world and they consistently seem to make money by beating the house.

· Always use the trial program offered by the sport book website to try their services for a day or two.

Online sport book gambling means different things for different people.

· It is very important to increase your knowledge about the sport game you are betting into. This makes it very much important on your end to find a safe place to bet. Though online sport book gamblers cannot see each other physically, they all thrive on the numerous bets taken online.

Finding a secured and a reliable Sport Betting Site

Online sport book gambling enables bettors to bet on various sports competitions including golf, football, basketball, baseball, hockey, soccer, horse racing and boxing.

Online sport book gambling is soon becoming popular with the invention of the Internet over the last decade or so. Today there are nearly around 150 licensed sports books in the United States, all located in Nevada casinos. There is every chance that you might come across scams sites, full of liars who only want to make money

Negative Effects of Gambling

Forget satisfaction or peace, it is not even refreshing in the real sense. It only leads to a thoughtless expenditure of money and valuables.

You could be at gunpoint or holding the gun. Because of this, they land in worse situations and take the wrong decisions in life.. This proves to be detrimental to their social and family life. Thus, gambling practices cause a huge financial burden on the families of the affected and on the society at large.

? Substances of abuse are served at casinos and in pubs and clubs, thus increasing the likelihood of gamblers consuming them. In spite of the losses incurred, they continue betting. ? Addiction to gambling has been linked with substance abuse. The effect is similar to that of having a drug or a drink, which is why gambling changes one’s mental state and mood.

? A majority of those addicted to gambling have substance abuse disorders.

? People continue gambling with the greed of winning money. Rehabilitating the gambling addicts needs money and time, and the process is not very easy. Due to lost mental peace, they may ill-treat their spouse and children. It soon becomes a habit that can’t be broken.

Gambling refers to the betting of money on an event with an uncertain outcome, with the intent of winning additional wealth. It causes a decline in his/her work performance, thus hampering his career.

? Problem gamblers and addicts tend to abuse their family members. The National Council of Problem Gambling (NCPG) describes this type of gambling behavior as problem gambling.

Compulsive gambling leads to bankruptcy

? According to a study by the George State University, 50% of the problem gamblers commit crime. A recreational activity is supposed to be refreshing and relaxing, but something like gambling is contrary to the very purpose of recreation. The stress of risking huge amounts of money or the frustration after losing it can increase the tendency of abuse in gamblers. Some go that way to forget the sorrow of losing big sums when gambling.

? Gambling is practiced as a means of recreation. In the following sections of this Buzzle article, we discuss the negative effects of gambling on the individual and society.

Gambling = Thoughtless Expenditure + Waste of Time

? Gamblers often exhibit mood swings and a strangely secretive behavior. The decision to gamble money is based on three parameters namely; how much to bet, the predictability of the event, and the conditions agreed upon, between the gamblers. A study by the same university suggested that 73% of the individuals who are imprisoned are found to be problem gamblers.

? Apart from absence at work and drop in efficiency, a common observation is that gamblers tend to steal money and engage in fraudulent behavior to recover from financial losses incurred when gambling, or to get more money to bet.

? Gambling can lead to criminal activities. The skill of a gambler lies in weighing the three parameters and making a decision about what amount should be staked and how much should be expected in return.

? The stress from gambling may lead to health issues like ulcers, stomach problems, muscle pains, headaches, and problems with sleep.

? An Austrian study said that around 1 in 5 suicidal patients had a gambling problem.

? Gambling has proven to be addictive. Over time, it becomes a habit, and eventually an obsession that can’t be overcome. They engage in gambling activities at the cost of their time with family and friends. The addiction has negative effects on one’s physical and mental health and it proves to be detrimental to one’s social, personal, and professional life. Card games, coin tossing, and dice-based games are some non-casino based forms of gambling. Thus, gambling can have a grave economic impact which is difficult to reverse.

? As gambling leads to increased criminal activities, in a way, gamblers add to the burden on prisons and the legal system.

? Over time, the practice of gambling starts becoming a habit and begins to have damaging effects at psychological, physical, and social levels. The addiction leads people to continue with gambling irrespective of whether they earn or lose in the deal. Addiction to gambling, coupled with substance abuse can make the gamblers physically abusive towards their family. Their debt keeps building and it may reach an amount that exceeds their capacity to repay.

? The addiction to gambling can leave one in bankruptcy. According to the National Research Council, 10 to 17% of the children of problem gamblers have been abused and so have 25 to 50% of the partners of problems gamblers.

Initially, one looks at gambling as a way to run away from life’s problems, or from stress, anger, and loneliness. The addiction gets on to the gamblers to such an extent that they fail to think wisely before acting. Betting is a mentally taxing activity, and as one goes on risking more and more money, anxiety starts building.

? Additionally, rehabilitation and public assistance systems are taxed.

? Studies show that children with a sibling or parent addicted to gambling, are more likely to take to substance abuse.

? People who fall prey to gambling tend to remain away from their families and waste money on other bad practices. Their mental state can even lead to suicidal tendencies.

? Gambling at the cost of one’s job results in a decline in the quality of his professional life. The addiction robs a gambler of all the productive time and leads to loss of efficiency at work. Sports betting and arbitrage betting are the other types. The greed never ends and they keep betting more and more. It can drag you into crime, gambling isn’t fun.

Mental and physical health problems, financial issues, and conflicts in the family are among the common negative effects of gambling. Six to eight million people in America are estimated to have a gambling problem.

? According to the University of New York, in people with alcohol use disorders, the chances of developing an addiction to gambling are 23 times higher.

? Research has shown that gambling can lead to harmful behavior in people. To add to the so-called merry atmosphere, gamblers often smoke or drink while playing.

? According to a research by NCPG, 76 percent of problem gamblers are likely to have a major depressive disorder.

? They start borrowing money and take secret loans. When they lose the money they had risked, they further gamble to recover the lost amount and it becomes a vicious circle even they can’t escape from.

? Children of parents who are problem gamblers or gambling addicts tend to feel abandoned and angry, further increasing stress and leading to strained family relations.

? The costs of treating compulsive gamblers are huge. The two go hand in hand. Some take to substance abuse to supplement the high they get from winning huge sums while gambling. On giving a serious consideration to the negative effects of gambling, we realize that it is best avoided.

Games offered in casinos, table games like poker, Red Dog, and Blackjack, as also electronic games like Slot Machine and Video Poker are some of the common types of gambling. They tend to stay away from their near ones, resulting in distrust between them and their loved ones.

? Similar to how an individual keeps consuming substances like drugs or alcohol to experience an altered mental state, he continues to gamble