Illegal Sports Gambling Is Big Business! Will It Finally Become Legal? Supreme Court to Decide

No matter what sports season we’re in, you probably have a favorite sport you relish following. Maybe March madness college basketball, the NFL, baseball, hockey, golf, or soccer. Perhaps you would like to make a little bet, but many sports fans in the United States are leery of the legitimacy and legality of internet gambling. If you live in the United States, your legal sports betting options at brick and mortar casinos are limited to Nevada, and to some degree at Delaware racetracks.

The Supreme Court has heard arguments on a New Jersey challenge which would permit sports gambling at its casinos and racetracks. If the court rules in favor of New Jersey, Gaming experts predict that most states will jump on the bandwagon to legalization, in order to fill state coffers with tax revenue.

If you’re unfamiliar with the particulars of how to bet on sports, the following describes how it all works:

Sports Betting Jargon

Before we get into the specifics, here’s a little jargon explanation to help you understand the process:

  • Action – A term for all the betting activity that happens during an event.
  • Handle – The total amount of money wagered on events.
  • Spread – Giving one of the two teams points to even out the betting action.
  • Sports Books – Establishments that take bets on sporting events.
  • Juice – A percentage of the win taken from a bettor that won an even money bet. Sometimes called the vig, which is short for vigorish.

Types of Bets

There are many different types of bets. By far, football draws the most action with the biggest handle. The Super Bowl alone draws over $100 million in legal betting activity, and over three billion (that’s billion with a B!) illegal wagers. Now you see why states want a piece of the action.

  • Even Money Bets – Players betting on only one team to beat another. The sports book takes the juice/vig from the winning payout amount. A common vig is $11 for $10. (Bettor wages $11, wins $10.) House keeps $1. Most bets will have a point spread (line). If the player is picking the underdog, S/he will take points. If the bettor is picking the favorite, S/he is laying (giving) points.
  • Parlay Bets – Betting on multiple (two or more) teams to win. Here’s a scenario on a point spread ticket. Let’s assume that on event #1, Tampa Bay is playing at Green Bay with GB favored to win by at least 3 points. In event #2, Buffalo is playing at Miami and BUF is expected to win by at least 7 points. Your game ticket would look something like this:

Event Visitor Vs Home

1. TB GB. -3

2 BUF. -7 MIA

This means that if you bet on GB they must win by more than 3 points. A bet on BUF would require them to win by more than 7 points. By choosing the favorites you are laying (giving) points. If you were to put your money on GB and MIA, you would be taking (receiving) the points.

One way to eliminate confusion is to jot down a spread score before the games start. for example on this ticket:

The score before the game starts is:

  1. TB 3 GB 0
  2. MIA 7 BUF 0

When the games are over just give the points to the underdogs. In most jurisdictions, ties lose for the player. In other jurisdictions the prize payout for one tie is reduced to the next lowest payout factor. A common play in casinos is a four team pick for 10X the bet.Bet $10, win $100, but you can wager from two to twelve games. The more games you play, the higher the winning payouts.

  • Over/Under – One scenario is betting that the final score ill be over or under a certain number a preset number.
  • Prop Bets – A proposition bet is where you predict the outcome of a preset number of props on a single ticket. Example: Total field goals over/under 4. Total interceptions over/under 3. Total sacks over/under 2. Total receiving yards, total yards, and the list goes on and on.

If you visit Vegas or other jurisdictions that permit sports gambling, Good Luck!

Gambling Jargon: Know the Lingo to Do the Deeds! Here's the Jargon for Popular Table Games

Don't be left out when playing games in the casino! Learn gambling vocabulary as you learn the games. It's important to understand this so you won't feel like a novice when playing table games.To get you started, here is the meaning of some of the terminology used in popular gambling games:

BLACKJACK

Basic Strategy – Plays you should make to maximize your advantage

Burn Cards – Removed cards after the shuffle

Bust / Break – Exceeding a hand total of 21

Card Counting – Memorizing played cards with an assigned value

Color Up – Cashing in your chips

Double Down – To double your initial bet following the initial 2 card deal

Even Money – Cashing in your bet for a 1/1 payout when you have a blackjack against a dealer ace

Face Cards – Jacks, Queens, Kings (AKA picture cards)

First Base – First seat to the dealer's left

Hit / Draw – Calling for another card to add to your hand

Hole Card – The dealer's face down card

Insurance – A side bet for the player when the dealer has an ace showing

Pat Hand – A had worth at least 17 points

Push / Tie – Player and dealer with the same hand total

Shoe – A device used for holding and dispensing cards

Soft Hand- A hand with an ace counted as 11 or 1

Stiff Hand – A hand with little chance of winning if hit

Surrender – Giving u your hand to lose one half of your bet

Third base – Last seat to the dealer's right

Up Card – Dealer's first dealt card face up

CRAPS

Any Craps – A dice total of 2, 3, or 12

Big Red – a bet in the Any Seven box

Boxcars – When the dice total 12

Capped Dice – Crooked dice

Cold Table – When most shooters are not winning

Come Bet – A bet made after the point is established

Come Out Roll – First roll of the dice in a round

Don't Come Bet – A bet made after the point is established (Outcome is opposite of the Come Bet )

Don't Pass Bet – Betting against the shooter before the Come Out Roll

Free Odds – An additional bet behind the Pass Line Bet taken at true odds

George – A good tipper

Hardway – A 4,6,8,10 thrown as pairs

Place Bet- Betting that a place number (4-6, 8-10) will be thrown before a 7

Point Number – One of the numbers 4-6, 8-10 made on the come out roll

Press A Bet – To double your bet amount

Proposition Bets – (AKA Prop Bets) one roll and Hardway bets

Right Bettor – Betting that the shooter will win

Seven Out – When a 7 is rolled before the point number

Shooter – Player currently rolling the dice

Snake Eyes – When the dice total 2

Stiff – A poor tipper

Toke – A tip given to the dealer

Vigorish – ( AKA Vig) commission taken by the house

Wrong Bettor – Betting that the shooter will lose

Yo – The number 11 (AKA Yo-Leven)

POKER (TEXAS HOLD'EM STYLE)

Aces Up – A pair of Aces with another pair

All In – Betting all your remaining chips

Ante – The opening bet before dealing begins

Belly Buster – An inside straight draw

Big Slick – An Ace and a King

Blinds – 2 forced bets before any cards are dealt (small blind & big blind)

Boat – Slang for a Full House

Broadway – The highest straight straight possible with mixed suits, 10, J, Q, K, A

Button – A disk placed in front of a player acting as the dealer

Bullets – A pair of Aces

Call – To match the current bet

Check – To defer making a bet until another player does

Cowboys – Slang for a pair of Kings

Dead Hand – A hand with no chance of winning

Donkey / Fish – A bad player

Drawing Dead – A hand that will lose even if it improves

Flop – The first 3 community cards

Flush – 5 cards of the same suit

Full House – (AKA Boat ) 3 of one kind and 2 of another

Kicker – The highest unpaired card in a hand

Ladies – Slang for a pair of Queens

Muck – Face down discarded hands

Nuts – The highest possible hand

Overcard – A card that is higher than another

Quads- 4 of a kind

Rag (s) – Cards that add no value to your hand

Rainbow – Cards with different suits

River – The 5th and final community card

Rounder – One who makes a living at playing cards

Royal Flush – The highest hand possible, a suited 10, J, Q, K, A

Set / Trips – 3 of a kind

Short Stack – Having the fewest chips at the table

Straight Flush – 5 suited cards in sequential order

Tells – Behavior that gives other players information about how you might play your hand

Tight – Someone who only plays premium hands

Tilt – Desperate to re-coup losses, causing bad decisions

Turn – The 4th community card

Under the Gun – First player to bet after the big blind

Wheel – The lowest straight possible with mixed suits A, 2, 3, 4,5

Wired – A pair dealt in the first 2 cards

So there you have it. Learning this jargon will assist you on your path to becoming a seasoned responsible gambler. Good Luck!