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football betting

New gambling record: Betting on outcome of Brexit vote

That surpasses the 40 million pounds placed on the 2012 U.S. It has become increasingly popular, particularly to bet on financial markets.

Such betting fever is normally associated with major sports events, with people here habitually placing wagers online or in betting shops on everything from horse races to football matches. This material may not be published, broadcast, rewritten, or redistributed. All Rights Reserved. The referendum also outmatches the 35 million pounds placed on the 2014 World Cup Final.

Betfair allows people to place wagers against each other rather than setting odds like the traditional bookmakers. That’s particularly true since pollsters have missed badly in measuring sentiment before some of Britain’s most recent votes, the last general election and the Scottish referendum.

“If we are going to remain in the E.U., at least I will take compensation,” said Jones, who expects to get 3,000 pounds back in profit in such an event. vote as of Wednesday and expects a final amount of 50 million pounds. E.U. That’s reflected in financial markets, where stocks and the British pound are relatively buoyant one day before the big event.

“This is comfortably the biggest political betting event in history and dwarves both the general election and the Scottish referendum,” says Lewis Davey, spokesman for Paddy Power, referring to the Scottish vote on independence last year.

“This is a historical event, and I want to take part in it,” said Can Zhao, an investment researcher who last week placed a 135-pound ($198) bet on “remain” at a Ladbrokes betting parlor near London’s Kings Cross train station.

The betting has also gained the attention of global investors as a gauge of the likelihood of an event’s outcome. referendum betting already hit a record for a political event days ago for Betfair, bookmaker BetFred and IG, the largest provider of spread betting services.

Betfair, bookmakers Ladbrokes and Paddy Power and the Betting Research Unit at Nottingham Business School all estimate that the total value of bets on the vote placed in Britain will reach, and likely exceed, 100 million pounds.

The bookies’ odds have largely been in synch with global financial markets. He was back in the betting shop this week to place additional wagers on behalf of three American friends.

. He intends to vote to leave the E.U., but has placed bets on “remain” to at least get something in case of his side’s defeat.

Betting exchange Betfair says it had taken 45.8 million pounds in wagers on the E.U. “But my big win is to leave the E.U.”

For Stephen Jones, 55, betting is a form of insurance against disappointment. But the importance, drama and uncertainty that have surrounded this vote have made it a spectator sport in its own right. presidential race, which was its previous record for a political event. The industry is expecting 100 million pounds, or nearly $150 million, to be wagered by the time the result is known in the early hours of Friday.

Betting is his way to get in on the drama because as a foreign citizen from China he will not have a right to vote. Polls suggest it is too close to call, while bookies give the “remain” side a higher chance of winning.

LONDON — As if the stakes were not high enough in Britain’s nail-biting vote this week, people are betting record amounts of money on its outcome.

Betting on political events used to be a niche area in the gambling industry but has become more widespread, particularly in Britain. While the polls show this week’s vote is too close to call, bookies like Betfair are giving the “remain” side a 76 percent probability of winning.

Thursday’s vote on whether to leave the European Union, which will have lasting consequences for the country and Europe, is due to break the record as the most bet-upon political event in Britain’s history. Spread betting, on the other hand, does not provide a simple win or lose outcome, but can provide payoffs based on the accuracy of the bet. Ladbrokes has seen a tenfold increase in recent years.

© 2016 The Associated Press

How the Sports Betting Line is Made by RJ Bell

Of the 4-5 oddsmakers, generally the 2 most respected opinions are weighed more heavily by the Odds Director before he decides on the final line.

Since the oddsmaker’s ultimate goal is equally dividing the betting action, public perception and betting patterns must be taken into account.

Once the opening line is released by LVSC, the individual sportsbooks decide if they want to make any adjustments before offering it to the public. We do this by drawing from past experiences and applying them to current situations. Reasons for such adjustments include:

“The main objective is that our clients get equal action on both sides,” Seba said.

Why the Line Changes

Experts working for the individual books having a strong opinion on the game

Moving the line is the oddsmaker’s effort to balance betting action, and often times such moves can have a major impact on a bettor’s decision.

Power ratings are the oddsmaker’s value of each team and are used as a guide to calculate a “preliminary” pointspread on an upcoming game.

Las Vegas Sports Consultants (LVSC) is the world’s premier oddsmaking company and the most respected authority on making the lines. Seba explained that it all starts with each oddsmaker creating a line on each game based upon their own personal approach.

The opening line is the first line created by the oddsmakers, which is then sent out to sportsbooks.

Individual books having players who consistently bet with certain tendencies (such as an extreme bias toward favorites or toward a certain popular team like USC)

Oddsmakers can also change the line depending on various event-related factors such as player injuries or weather.

“The #1 thing for us is to make a line for each game that creates good two-way action. The power ratings are adjusted after each game a team plays. Oddsmakers have to determine if any changes are necessary and send out an “adjusted line.”

“You either have a passion for it or you don’t,” Seba said. People think it’s much more complicated, but it’s not.”

Divided action means the sportsbook is guaranteed a profit on the game because of the fee charged to the bettor (called juice or vig – typically $11 bet to win $10). Each of these oddsmakers bring unique opinions, strengths and weaknesses to the process.

The last step in the line-making process for each oddsmaker is taking one final look to determine whether or not the line “feels right.” This is where common sense and past experience with how games are bet enters into the picture.

Once betting begins, sportsbooks can adjust the line at any time.

There is a common misconception that point spreads represent the oddsmakers’ prediction of how many points the favorite will win by. If we’ve done that, we’ve done our job.” . In doing so they attempt to make more attractive the team that is getting less action. In our extended interview, Seba explained that there are 4-5 oddsmakers assigned to make lines for each of the major sports (pro & college football and basketball; MLB, NHL, boxing, golf). By moving the line, sportsbooks can influence how the public bets on a particular game. This usually includes having up-to-date power ratings on each team. By necessity their approach is very research-oriented and concise, since with millions of dollars at risk there is little margin for error.

How the Opening Line Is Made

RJ Bell

©Pregame.com 2006

Website: http://www.Pregame.com

Once a game’s power rating based pointspread is determined, the oddsmaker will make adjustments to that line after considering each team’s most recent games played and previous games played against that opponent. Obviously, if the line comes out a week ahead of the event (which is the case in football), there is much that could happen during the week leading up to the event that could affect the line. That is not the case at all – their intent is NOT to evenly split the ATS result between the teams; rather, their goal is to attract equal betting action on both sides.

For example, if the pointspread on a game is 7 and most of the money is coming in on the underdog (taking the +7), sportsbooks will then move the number down to 6 ½ to try and attract money on the favorite. Also, adjustments are made after reading each team’s local newspapers to get a sense of what the coaches & players are thinking going into the game. Of course there is an entire method to the madness on how the opening line is created. Mike Seba is a Senior Oddsmaker at LVSC and has been making lines for the last six years. If an oddsmaker comes up with a preliminary line of USC -7, then an adjustment up to -7.5 or -8 would be made in response to the public’s expected USC bias. For example, the public might have heavy betting interest week after week on a popular college football team such as USC.

A round-table discussion among the 4-5 oddsmakers involved in making the line for each sport is then conducted and a consensus line is decided upon by the Odds Director before it is released to the sportsbooks. “We’re not trying to pick the team that covers the spread, we’re trying to make it a coin flip, a tough decision (for the bettor). What Is the Line Trying to Accomplish?

Contributed by:

Oddsmakers at LVSC are professional sports junkies who love what they do and would probably do it for nothing if you asked them, but they do get paid for it. Examples of non-game factors that would require an adjustment to a team’s power rating are key player injuries and player trades.

The purpose of these adjustments, like all line adjustments, is to more equally divide the betting action. Stated another way, they want to create a line that half the people find appealing to bet one way while the other half find it appealing to bet the other way (known as ‘dividing the action’)

Cantor Gaming Announces In-Running Wagering for The NFL Season

LAS VEGAS–(BUSINESS WIRE)–Cantor Gaming, an affiliate of the global financial services firm Cantor

Fitzgerald, today announced that its extremely popular “In-Running”

sports betting product will be available at The Venetian, Palazzo and

the M Resort Spa Casino in Las Vegas for the 2009 NFL season, beginning

with Tennessee at Pittsburgh on September 10. Cantor Gaming offers mobile

solutions to the gaming industry as well as developers of proprietary

casino games including XtraOdds Baccarat(TM) and Bonus Roulette(TM). With In-Running, customers can place bets during the

game, so fans can have a stake in the action all the way through the

event,” said Lee Amaitis, President and CEO of Cantor Gaming.

Mr. Amaitis added, “In-Running is hugely successful at the M’s Race &

Sports Book. Amaitis said the bets that will be offered through In-Running are:

Cantor Gaming is an affiliate of global financial services provider

Cantor Fitzgerald, which has over 60 years of experience and

unparalleled expertise of highly secure real-time financial transaction

processing, management, and execution. In-Running betting allows

wagering on live sporting events throughout the event. “We are constantly looking for

opportunities to add new and exciting amenities to our overall guest

experience and this is the type of “only in Las Vegas” concept that

helps differentiate The Venetian and Palazzo from other properties on

the Strip, and also demonstrates the true uniqueness of Las Vegas and

why there is no city in America quite like it.”

. We opened the action with the NCAA March Madness Basketball

Tournament, continued throughout the NBA Playoffs, horse racing’s Triple

Crown, and currently offer selected Major League Baseball games. In

addition to NFL games, In-Running will be available for select NCAA

football games this season.

“In-Running is particularly well suited for football because of the

popularity of the game and the huge number of football fans interested

in sports betting. In-Running betting allows wagering on live sporting events throughout

the event.

Full Game Money Line

Full Game Point Line

Full Game Total, Over/Under

First Half Money Line

First Half Point Line

First Half Total Over/Under

Through Cantor Gaming’s In-Running, wagers also will be accepted on

whether:

About Cantor Gaming

The current drive will yield a first down.

The current drive will result in a punt, field goal, touchdown, or an

interception/fumble.

Twenty or more yards will be gained on the next play.

Any field goal attempt will be made or missed.

For more information, visit www.cantorgaming.com

“The addition of “In-Running” is certainly going to enhance our sports

book offering and be a huge hit with the many sports aficionados who

spend time at our properties,” said Robert Goldstein, president of both

The Venetian and Palazzo Las Vegas. Cantor is

the first company licensed as a manufacturer, distributor, and operator

of a mobile gaming system by the state of Nevada and remains the world

leader. Cantor was also the first company to introduce in-running

wagering in Las Vegas, at the M Resort Spa & Casino’s Race and Sports

Book. The NFL

season is immensely popular with sports betters and we’re excited to

extend our product offerings to The Venetian and Palazzo.”

Mr