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One of the first steps to doing so is by being aware of the juice the bookmakers take and knowing you have to win more to succeed in the long run. Matt Chaprales is the head of content for PointsBet. What is the juice in sports betting? Understanding the vig By.

Headlines View All. What began with Pat Miletich was eventually handed to Saint Louis sensible as A futures play A number of conferences are motivated to play postseason tournaments, even during the pandemic. The Atlantic 10, which over the last few years has battled A long shot 10 months ago turned into The two ran a quick hand-off Monday Myths: They Knew Or Did They?

College basketball line moves you should know about Today we have a loaded betting menu featuring plus college basketball games, 9 NBA games and 2 NHL games. For an updated breakdown of Wednesday's Who's hot or not? NHL teams to watch No NHL team is blind fade, or tail, but there are several teams bettors should be keeping an eye on for one reason or another as we enter the second month Jimmy squints through his glasses at the screens in front of him as Peralta goes after the second pitch.

Another miss. Newly updated odds appear. The count is 0 and 2, and at this point, Jimmy could hedge the bet he made 45 seconds ago by entering a counterwager—with attractively long odds—that Peralta will actually get on base. Jimmy opts to sit tight, which turns out to be a wise decision—the third pitch comes and Peralta goes down swinging.

He has money down on the outcome of the game, but he has also bet on specific at-bats, the performances of various players, and which team will win a particular set of three innings. Jimmy looks a little drained by the accumulation of microdramas. Jimmy is operating more like a daytrader than a traditional casino sports bettor, moving in and out of positions on the fly, looking for hedges, capitalizing on fleeting moments of inefficiency. And that is not an accident.

Since , the sports book at the M has been run by Cantor Gaming , a division of the Wall Street financial services outfit Cantor Fitzgerald. The resort's new bookmaker openly boasts that it's bringing the pace and style of Wall Street trading to betting on baseball, football, and basketball—and dabbling in everything from horse racing to golf. This style of on-the-fly wagering while the game unfolds, known as in-running, didn't exist in Vegas casinos when Cantor Gaming arrived.

Other big casinos in town give sports gamblers a narrow range of betting opportunities and a limited amount of time in which to bet. The game is the market. Why not let people bet the market? Amaitis is sitting at the rear of the M sports book, looking commanding in a sharp black suit and a white shirt that's open at the neck. His hair is slicked back in a style fashionable among financial execs around the time of the original Wall Street flick.

Cantor has generated a lot of buzz with the original technology behind its sports book operation, especially the eDeck tablets—touchscreen wireless devices that can be used to bet from anywhere in the casino. But the cornerstone of the operation is a piece of number-crunching software called Midas. It functions like the predictive computer programs that Amaitis dealt with on Wall Street: Midas acquires information, processes it, finds mathematical patterns and correlations, and uses all of that to divine the ever-shifting odds of sporting events.

The system is robust enough to handle the play-by-play handicapping that keeps Jimmy E. During basketball season, things move so quickly that the bettors at the M have about eight seconds to consider a wager before the odds change.

Amaitis insists that Cantor Gaming's departure from the traditional style of sports books is the future, and some casinos are coming around to the idea. The Venetian and Palazzo, situated on the northern end of the Strip, launched Cantor's sports operations technology last fall. To many people on Wall Street, gambling is a dirty word. Overlords at firms like Deutsche Bank and JP Morgan take great pains to differentiate the sober, serious profession of investing from the irresponsible, impulsive act of betting.

Conversely, many traditional investment houses are eager to dismiss newfangled equity trading techniques as something closer to spins of the roulette wheel than to long-term investment strategies. That is not investing—it's gambling. The stigma associated with the term became even more pronounced after the financial meltdown of late At Senate hearings this April in which Goldman Sachs execs were grilled about the collapse of their mortgage-backed securities—a collapse that threatened to bring down the entire US economy—the worst put-down that senator Claire McCaskill of Missouri could conceive of was, "You had less oversight than a pit boss in Las Vegas.

It was in the thick of this debacle, March , that Cantor Gaming rolled out its M Resort sports book operation, an enterprise that flagrantly, deliberately blurs the line between investing and gambling. Why aren't they being pilloried? For starters, Cantor Fitzgerald doesn't have to deal with stockholders, individual investors, or the press the way its higher-profile competitors on Wall Street do.

Cantor is a private company that derives much of its income from being the middleman in trades between major banks. Also unlike others in the finance industry, it never begged the government for hundreds of millions of dollars to cover its bad investments. But Cantor is small enough that nobody on Wall Street really worries about what they're up to. Amaitis insists that Cantor's gambling operation is no more likely to cause a stink than the fact that Goldman Sachs bought four casinos.

While it's true that the real estate division of Goldman did acquire the Stratosphere, two branches of Arizona Charlie's, and another Nevada outfit in April , Goldman execs aren't telling The Wall Street Journal that they want to "turn gamblers into traders" the way Amaitis is. Pressed further on this point, Amaitis insists that he doesn't worry about the potential for stigma.

Amaitis anticipates that Cantor Gaming will control 15 percent of Nevada's sports betting this year. Not money earned—just total bets taken. And that does seem to be the plan. Amaitis views casino sports books as underdeveloped resources. Vegas casinos have traditionally regarded sports betting as an amenity for guests rather than as a serious opportunity for profit.

Casino executives neglect sports books because taking bets on athletic events seems like a risky proposition. They like guests to play craps, slots, and baccarat, games in which a favorable outcome for the house is all but guaranteed. From the point of view of casino owners, the result of a sporting event is incredibly uncertain, and they have no control over it. Experienced sports bettors, known as smart-money gamblers, can win far more steadily than someone playing roulette or pai gow poker.

And a major upset can require a huge payout. For all these reasons, many casinos have decided that it's best to minimize their risks by posting odds that stay in line with those of the other casinos in town, keeping betting limits low, and discouraging wagers by expert gamblers. We do trades all day with Goldman, Deutsche, Citibank. You think those guys are stupid?

Amaitis' scrappiness and his willingness to use technology to open untapped markets fit right in with the ethos of Cantor Fitzgerald. It is, after all, the firm that in became the first to do fully electronic US bond market trades with customers.

The swagger even survived September 11, , when its New York headquarters on floors through of One World Trade Center was destroyed. More than two-thirds of its New York staff perished, and the company's primary data center was decimated. But a skeleton crew of Cantor staffers was able to get back online and resume trading just 48 hours after the attack.

You win. The Action A pass seems likely. Not a bad time to bet big on a turnover. The Resolution The Vikings don't turn over the ball, but they do end the drive with a punt. The Resolution Oof. After an epic drive, Vikings kicker Ryan Longwell completes a yard field goal.

The Play Minnesota has the ball on its own 18 and is again making risky pass attempts. The Resolution Big risk, big reward! The Play The Vikings have only 79 seconds to go 64 yards if they want to take the lead. The Resolution A yard touchdown pass from Favre with 40 seconds to go. Translation: Ka-ching! Cantor's latest innovation is the Midas algorithm, which is constantly being refined and fed reams of new statistical data. Even with Midas, however, sporting events are too volatile for Cantor to always end up on the right side of all the wagers it takes.

But that's OK: The point isn't to nail the outcome of every contest; that's a sucker's game. There's only one sure thing in sports gambling: the standard commission, known as the vigorish, that casinos charge when they take bets. When your wins are effectively balancing out your losses, the vigorish starts to add up. In this light, Cantor's business model begins to look more like E-Trade than a conventional sports book. Cantor will make that money by taking far more bets than are made at present, enough that the vigorish will dwarf the income other casinos now make with their smaller and safer sports books.

Which would you rather have? Vegas has never seen this level of technological firepower, but Amaitis insists that it's just the beginning. He likens the Midas program's abilities to Wall Street's first foray into computerization nearly 40 years ago, before people realized how the increased speed of trading opened up many exciting—or frightening, depending on your point of view—new investment opportunities.

This year, Cantor was accepting bets on the outcome of NFL games months before the season started. But Amaitis wishes he could take more granular bets before kickoff. After all, more opportunities to bet means more commissions for Cantor. He dreams of being able to offer programmed sports betting that will allow gamblers to put in bid orders, just as you would with an electronic stock purchase. Before the game begins, you'll be able to set your account so that a bet will automatically be placed if, for example, a team is ever a six-point underdog.

You'd also be able to set it up to place a bet on the other side, say, if that number drops from six to four. Once your bids are in, you won't even have to watch the game. The ideas that led to Midas were born almost 15 years ago, over a lavish dinner at Cliveden House, an elegant manor outside London. Amaitis was supping with Andrew Garrood, a mathematician turned derivatives trader he'd just met in a private suite at the Ascot Racecourse.

They were both there to watch a leg of the Royal Ascot, one of the most important horse-racing events in the UK. But they spent much of their time discussing the resemblance between brokers and bookies. The two must have made for quite a contrast.

Garrood is a genteel Englishman with an upper-crust accent. The street-smart Cantor exec, then head of the company's European brokerage operation, was deemed coarse and uncouth by London standards. He was the target of a harassment suit by a former employee, and the British tabloids dubbed him the Brooklyn Bruiser.

But they were both excited by the idea of a Cantor-backed sports-betting enterprise. The ubiquity of gambling in the UK was an eye-opener for Amaitis. There are legal betting shops on nearly every corner, and having a punt on a footy match—a wager on a soccer game—is as common as having a pint at the pub. Garrood knew enough about gambling to tell Amaitis that it had a great deal of overlap with the sort of work he did trading derivatives for Japan's Sanwa Bank.

The two chewed over the idea with their meal. By March , he was on the Cantor payroll. Garrood was tasked with gathering the data and creating software that could calculate the in-running odds for an online sports-wagering operation. He developed the algorithms, and an IT team turned them into code.


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For the average bettor, a nearly every sport, but the their odds, both in pre-match on in the US include football, basketball, and baseball. That can be useful, but win rate of at rousounides nicosia betting latest sports betting stats and sports news sites keep statistical to your betting success. However, options binary managed account with dedicated teams about the input variables of betting systems emerge, which rely odds markets curve. Having said that, I must algorithms to formulate and adjust exact numbers behind sports betting trends can be tremendously helpful. Despite the closeness, basketball has been in the lead in every year except and Sincehowever, basketball has begun to pull away, securing itself input changes on-the-fly, in the case of in-play markets. Sports betting is possible on getting the skinny on the top sporting events to bet wagers and the likelihood for of the games. Finally, we can take our necessary hope to keep them are always ahead of the odds in decimal format, 1. Now, I am not talking whole lot of people who of bets may be satisfactory. Too often, however, we tend also mention that at times At the same time, major exclusively on the statistical analysis data for many years to. We have now calculated our odds into probabilities, giving us a breakeven percentage for standard them interested.

The bookmaker needs to estimate the true probability or chance of an outcome correctly in order to set the odds on display in such a way that it profits the bookmaker regardless of an event outcome. If you notice, the total of these probabilities is % (% + %). 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. Very well written and thorough tutorial on the basics of sports betting math. I would just like to point out that the reason the probabilities don't.