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How do you feel about Sports betting in the USA?

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  • #16
    Might as well legalize it. Gambling is a situation based upon perspective.

    When I was a lot younger and dumber, I got into poker games I couldn't afford. Bet a few games that left me broke. Eventually, I realized I was much to competitive to continue. Winning was fun, but losing left me crushed.

    For years happiness has been a $2 NCAA bracket, max of $5 one game only sports pool and the buddies over for nickel, dime, quarter poker. The trick is to find like-minded friends.

    People are going to bet on sports. The courts are way to busy to enforce a ban. Legalize it, tax it and let the gambler beware.
    My Avatar: Ivan W. Henderson Gunner/navigator B-25-26. 117 combat missions. Both Theaters. 11 confirmed kills. DSC.

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    • #17
      Originally posted by Taieb el-Okbi View Post
      If the bold is irt sports betting, this depends. Not all sports bettors are professionals, some hold part time or even full time jobs.

      There is a guy out there who back in Feb, placed a 300USD bet on NC state to win the NCAA mens basketball championship. At the time of the bet, NC state was 2000-1(meaning the 300USD bet would win the guy 600,000) to win the championship, NC state is now anywhere from 40-1 to 60-1 to win it all.

      Thing is there are now but 16 teams left in the NCAA tourney,so the guy who placed the 300usd bet on NC state back in February can now comfortably place a large bet on Kentucky(who is getting about even money), or even spread out bets on some of the other teams, A good sports bettor is not necessarily a guy who can pick the right team on any given week, but also a good sports bettor is able to make a good futures bet.

      In addition to Kentucky, some books are wary of long shot NC State, which upset No. 1 seed Villanova on Saturday to reach the Sweet 16. The Wolfpack will face Louisville on Friday in Syracuse. The Cardinals are three-point favorites.

      After the bracket was released, CG Technology posted NC State at 250-1 to win the tournament and took six bets at $200 or more, including a $400 wager, on the Wolfpack.

      "They're our largest liability," CG Technology vice president of risk management Jason Simbal said.

      In early February, after a loss to Wake Forest, the Wolfpack were 14-11. Their odds to win the national title dropped all the way to 2,000-1 at the SuperBook.

      "We took a $300 bet at 2,000-1," SuperBook oddsmaker Ed Salmons said.


      more,

      http://espn.go.com/chalk/story/_/id/...egas-attention


      The guy who made that 300$ bet on NC state back in February has some good equity to work with.
      You are giving me the lottery scenario. People play the lottery too and your chances of winning are nil.

      Another way to look at this is: If the odds of a "miracle" are a million to 1 then about 300 "miracles" take place across the US every day.

      For every story like you gave there are thousands of ones of how some schmuck lost everything.

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      • #18
        Make it legal, it will keep money out of the hands of criminals.

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        • #19
          Originally posted by redcoat View Post
          Make it legal, it will keep money out of the hands of criminals.
          (you hope...)

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          • #20
            Originally posted by The Doctor View Post
            I'm a Mets and Jets fan... I don't bet on sports.
            I'm a Cubs and Bears fan. I lose at betting.

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            • #21
              Originally posted by Taieb el-Okbi View Post
              Some folks think its stupid to invest $$$ into opening up a restaurant.
              Nothing ventured, nothing gained. That said, new restaurants have a low probability of success. It's only stupid if you don't understand the business and have the discipline to mitigate risk.

              Originally posted by Taieb el-Okbi
              As with other things, Gambling does not have to be immoral or stupid. One ought to be aware of the difference between throwing money into a slot machine, betting on a sports team, playing the game of poker, rolling the dice in craps, etc,
              It's morally neutral.

              Originally posted by Taieb el-Okbi
              If you think its non profitable to throw money into a slot machine, I would agree with you. I would disagree with you if you were to tell me for example that poker players or sports betters could not be profitable in the long run. I feel that sports bettors, as well as a poker players, have just as much of an opportunity to succeed or fail as that of a man who wants to open a restaurant.
              My boss at my previous company routinely made money playing blackjack. On a typical trip to Vegas, he would make $5,000 to $15,000. He understands and has a passion for the game and more importantly understands risk mitigation. Whether it's a game or a business, you have to understand both in order to succeed. Having a passion for a game or a business without understanding risk mitigation is a recipe for disaster

              With the Lottery, slot machines and other games of pure chance, risk mitigation is impossible at a statistically meaningful level. The more skill involved in a game, the more opportunity to mitigate risk.

              Most gamblers lack the discipline to mitigate risk.

              The difference between a gambler and a venture capitalist is their respective grasp of risk mitigation. A gambler has a passion for the game; a venture capitalist has a passion for the gain.

              I don't bet on anything unless I can adequately mitigate risk. I don’t bet on sports because my passions for my favorite teams trump risk mitigation.
              Last edited by The Doctor; 25 Mar 15, 04:03.
              Watts Up With That? | The world's most viewed site on global warming and climate change.

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              • #22
                Originally posted by Daemon of Decay View Post
                I'm a Cubs and Bears fan. I lose at betting.
                86 might be a lucky number.
                Watts Up With That? | The world's most viewed site on global warming and climate change.

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                • #23
                  Originally posted by redcoat View Post
                  Make it legal, it will keep money out of the hands of criminals.
                  That's why Vegas is devoid of crime...
                  Watts Up With That? | The world's most viewed site on global warming and climate change.

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                  • #24
                    TAG

                    As for the previous post, The lottery is not the same thing as sports betting. In addition, as fellow poster Holly pointed out, some folks just like to place a 5$ bet on the super bowl or world series, these folks ought to be able to go to a casino or some type of regulated company to place their bets, as opposed to having to do it with friends.

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                    • #25
                      Originally posted by The Doctor View Post
                      Nothing ventured, nothing gained. That said, new restaurants have a low probability of success. It's only stupid if you don't understand the business and have the discipline to mitigate risk.

                      It's morally neutral.

                      My boss at my previous company routinely made money playing blackjack. On a typical trip to Vegas, he would make $5,000 to $15,000. He understands and has a passion for the game and more importantly understands risk mitigation. Whether it's a game or a business, you have to understand both in order to succeed. Having a passion for a game or a business without understanding risk mitigation is a recipe for disaster

                      With the Lottery, slot machines and other games of pure chance, risk mitigation is impossible at a statistically meaningful level. The more skill involved in a game, the more opportunity to mitigate risk.

                      Most gamblers lack the discipline to mitigate risk.

                      The difference between a gambler and a venture capitalist is their respective grasp of risk mitigation. A gambler has a passion for the game; a venture capitalist has a passion for the gain.

                      I don't bet on anything unless I can adequately mitigate risk. I don’t bet on sports because my passions for my favorite teams trump risk mitigation.
                      Blackjack card counters, and your previous boss could be one of them, have a great talent, one that is tough to acquire. But even the Blackjack card counters will tell you there is risk, of course a successful Blackjack card counter will be able to put the odds in his favor.

                      FWIW I would bet against the Buffalo Sabres as well as the Buffalo Bills, especially this year, considering that both teams fell short of the playoffs. I would also add, I feel that a venture capitalist or a guy working the stock markets, is somewhat of a gambler. Where as a man working as an Oil rig worker for example, is not as much of a gambler as some of the folks working on Wall street, and certainly not as much of a gambler as folks who bet on sports for a living.

                      A guy working as an entry level Oil rig worker is reported to average 66K a year, those checks are going to be the same each week, not to mention possible overtime. Folks who work in the stock market or some type of investment firm, may not always receive the same pay. Not to mention the Oil rig worker is generally going to pay less to learn the required skills for the job then a guy working on wall st has to pay for the required skills for the job.

                      http://www.thefiscaltimes.com/Articl...ying-Positions
                      Last edited by Taieb el-Okbi; 25 Mar 15, 11:26. Reason: minor edit

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                      • #26
                        Originally posted by Taieb el-Okbi View Post
                        I have heard the 69 mets team was one of the best ever. Though I was not alive during even the 86 world series, I would bet the 69 mets team was a better team then the 86 mets team. The 86 mets team got some huge luck when Bill Buckner missed that routine ground ball late in game 6. If there was a moment in sports that I could transport back into time to witness, the Bill Buckner ground ball miss would be one of them, what a moment that was.
                        The 69' Mets were no where near one of the best ever. They got hot at the same time the Cubs went cold. A lot of the Cubs collapse had to do with Leo Durocher mismanaging his team. The 86' Mets had much more talent and could have been a dynasty if Dwight Gooden and Daryl Strawberry had kept their heads on straight. Their potential at that time was through the roof.
                        “When you're in jail, a good friend will be trying to bail you out. A best friend will be in the cell next to you saying, 'Damn, that was fun'.”
                        ― Groucho Marx

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                        • #27
                          Originally posted by Checkertail20 View Post
                          The 69' Mets were no where near one of the best ever. They got hot at the same time the Cubs went cold. A lot of the Cubs collapse had to do with Leo Durocher mismanaging his team.
                          You don't win 100 games through shear luck. The Mets also upset the Braves in the first NLCS and then stunned the world with a 4-1 drubbing of the Orioles in the World Series.

                          The Mets may not have been the best team man-for-man; however, they had a manager, Gil Hodges, who was able to put those players together into a great team.

                          Originally posted by Checkertail20
                          The 86' Mets had much more talent and could have been a dynasty if Dwight Gooden and Daryl Strawberry had kept their heads on straight. Their potential at that time was through the roof.
                          From 1985-1988, they had a team that should have won the NL East every season.
                          Watts Up With That? | The world's most viewed site on global warming and climate change.

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                          • #28
                            Originally posted by The Doctor View Post
                            The Mets also upset the Braves in the first NLCS and then stunned the world with a 4-1 drubbing of the Orioles in the World Series.
                            I think it would be truer to say the USA was stunned, the rest of the world couldn't have cared less.

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                            • #29
                              Originally posted by redcoat View Post
                              I think it would be truer to say the USA was stunned, the rest of the world couldn't have cared less.
                              You're forgetting that Canada had 2 teams in the league at that time and that a hell of a lot Mexicans, Japanese, Taiwanese and people from most of South America watch baseball.
                              Beer is proof that God loves us and wants us to be happy.

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                              • #30
                                Originally posted by R. Evans View Post
                                You're forgetting that Canada had 2 teams in the league at that time and that a hell of a lot Mexicans, Japanese, Taiwanese and people from most of South America watch baseball.
                                Good points, Ill add that redcoats country played a significant role in the early history of baseball.

                                http://en.wikipedia.org/wiki/Origins...mes_in_England

                                http://www.cnn.com/2010/SPORT/06/01/...eball.cricket/

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