NBA Commissioner to Chris Christie: Join Me to Expand Sports Betting

“It could be brought into the mainstream economy, instead of money changing hands the way it does now.”

“With all the unbelievable dysfunction in Washington, it’s sort of hard to see much happening. It is co-hosted by ESPN’s Andy Katz and ABC News’ Rick Klein, and it can be downloaded via iTunes or at espn.com/podcenter.

“Governor Christie, and I’m happy to join him, should turn his attention to Washington, DC, to Congress, and say, ‘Here are all the reasons it should be regulated, but let’s come up with a framework that makes sense on a national basis presumably that would allow states to opt in,’ ” Silver told ESPN’s Andy Katz.

Silver broke with his fellow American sports commissioners last month by endorsing expanded legal sports gambling in a New York Times op-ed. I’d be perfectly happy to be wrong,” Markell said.

He also laughed at the recent public attention given to the fact that Christie is a die-hard Dallas Cowboys fan. Chris Christie to join him in lobbying Congress to rewrite federal laws on the subject.

“Whether it’s ESPN with ‘Bracketology,’ whether it’s all the [betting] lines in every national newspaper, on every Web service, my point was there’s massive, massive sports betting going on in this country,” Silver said on “Capital Games.”

Listen to the full episode of “Capital Games” HERE.

Markell said sales have roughly tripled in the four seasons where limited NFL betting has been legal in Delaware. New Jersey is now fighting in federal court to dramatically expand sports betting at its Atlantic City casinos and its racetracks.

Delaware Gov. Jack Markell said on “Capital Games” that he’d like to go further, but realizes that the federal law stands in the way. Sentiments in large swaths of both New Jersey and Delaware run more favorably toward the Cowboys’ archrival Philadelphia Eagles.

Also on the podcast, we chatted with David Purdum of ESPN Chalk, which covers sports gambling, about the legal cases and possible momentum for change. The state lost a federal court case that’s roughly similar to New Jersey’s challenge before establishing the more limited betting system.

“Having somebody like Adam Silver speak out is powerful, and I think it’s going to take folks like him … maybe that’s what it takes to move it,” said Markell, D-Del. He applauded Silver’s move for advancing the conversation.. And my view is, if it’s going to go on, let’s make it transparent, let’s bring it into the sunlight, so to speak, and let’s regulate it, the same way we do a lot of other industries,” he said.

“I wouldn’t be wearing a Dallas Cowboys jersey too much around Delaware,” Markell said.

You can listen to the full episode of “Capital Games” HERE.

Because of a 1992 federal law, most forms of betting on sporting events in the United States is only legal in Nevada. The economic impact, he said, is even greater, given the uptick in floor traffic at the state’s betting establishments, and nearby shops and restaurants.

“Capital Games” is part of the ESPN Perspectives audio series, focusing on the intersection of sports and politics. http://espn.go.com/espn/chalk/

But during an interview on ESPN’s “Outside the Lines” that also aired on the ESPN/ABC podcast “Capital Games,” Silver said that rather than fight New Jersey and other states, his league can work with them to establish a uniform federal structure that would acknowledge that sports gambling already takes place in many venues that are far from Las Vegas sports books.

With both powerful men calling for expanded legalized sports gambling, NBA Commissioner Adam Silver is inviting New Jersey Gov.

Next door in Delaware, officials have pushed up against the limits of the federal ban with a “sports lottery” that allows bets only on multiple NFL games on single tickets. That law has been in place for more than two decades.

“Estimates are that it’s up to $400 billion a year. He told Katz that his intention was to “break the ice” to have a real conversation on the subject.

But even with Christie and Silver on board, Markell said, he’s not optimistic about the chances for Washington to make major changes.

The NBA and the other major professional sports leagues are actually fighting New Jersey in court to enforce a federal ban on most sports betting outside of Nevada

Parlay Betting in Sports – What Is a Parlay?

If, one or more of the bets loses, the wager is graded as a loss. Taking advantage of promotions and bonuses is also hugely beneficial.

Parlays are can be solid bets if used effectively, even though the books do have the players beat on the odds, the vast majority of the time. He is an expert on NFL, NBA and MLB wagering and has solid knowledge on college sports, international sports and contests. Rarely can you wager $100 to win $600, but you can betting three team parlays. It all dependss on the situation, and the odds offered.

If we risked $100 at +600 (6 to 1), and our bet won we would win exactly 595.79, which we can round up to 596. He has been writing about sports betting and other gambling content for us for several years now.

For this example, we used three different NFL teams. We suggest you read up on Parlay betting strategies if you would like to learn more on the area of multiple bets.

Joseph Falchetti has been a sports bettor since he was 16 years old – before he was even legal age. Three team parlays pay 6 to 1 by the sportsbooks and have true odds of 7 to 1. Though our wager is +600, we still have to pay juice on each of three bets, which accounts for the bookmaker’s commission.

The standard payoff from an online sportsbook for a two team parlay is 2.6 to 1. The reason parlay odds have an allure to sports bettors is because they offer higher payouts than conventional wagers. Recreational bettors bet them for amusement, and professional bettors use them to gain an edge. The true odds of this bet are 3 to 1. In addition to being a skilled sports handicapper, Joe is a professional poker player. Many factors come in to play when calculating parlays, including the number of teams and the juice on each bet.

Conclusion

Pittsburgh Steelers -3

1.91

New Orleans Saints +4

1.91

Saint Louis Rams +10

1.91

A parlay bet is a single bet in which two or more outcomes are dependent on all wagers winning. All wagers must win for the bet to be graded as a winner, and if any of the three wagers lose, the bet is a loss.

Okay, so we have explained what parlays are, let’s now figure out if they are profitable, and what kind of edge the bookmakers have on their bettors.

If you are an avid parlay bettor, it is essential to find a book with the best parlay odds. For example, parlaying a tennis wager with a baseball and football wager. Finding the best odds for parlay betting is crucial and will make a significant difference in your bankroll. Of course, no sportsbook will offer this to players, as they need to make their commission. This is a general rule for parlay betting, as pushing a bet in a parlay lowers the parlay odds by one game.

Many bookmakers offer reduced juice on straight wagers, and allow bettors to import these lines into parlays as well. However, there are situations where bettors can possibly have the upper hand.. Of course, the caveat for the sportsbooks is that all bets in a parlay must win for bettors to win the bet. In a lot of cases, odds may vary slightly from book to book, and while this difference may seem trivial, it makes an immense difference to your bottom line. This can give bettors an edge on the book, or remarkably close to break even odds.

The best way to calculate a parlay’s profitability is to compare it to the true odds, which can easily be obtained by using a parlay calculator, or doing the math yourself.

Parlays, in most cases, can be split between different sports, and spread out over the course of a few days provided the odds are available for wagering.

Overall, there is no blanket statement regarding parlays. Parlays are remarkably similar to the European accumulator, as both consist of several straight up bets that must prevail for the bettor to win the wager.

About The Author

Parlays in Sports Betting

Parlay Odds

Here, is an example of a three team parlay:

Things to Look For

Another factor is that parlays require less bankroll, and bettors have the potential to gain a larger amount while risking much less. Be sure to compare parlay odds from leading bookmakers, if parlays are a prominent part of your betting repertoire. The true odds represent the expected outcome if each bet in a parlay is a 50/50 proposition, and does not factor in the oddsmaker’s commission.

Joseph Falchetti

If one our bets should push, the parlay would become a two team parlay, and if two bets push, it would become a straight wager

Lions’ upset over Saints completes 20,000-to-1 parlay, paying $100K

Not only did Polia’s payout come through, but a 15-game parlay where bettors just have to pick the winners also hit. The Chiefs, as an eight-point favorite, crushed the Ravens by 20.

Polia said, upon hearing the news, she fell to the floor of the law firm where she works in disbelief and, minutes later, said she was going out to lunch.

One of the biggest long shots in betting history will be cashed on Wednesday afternoon when Tayla Polia gets paid $100,005 for her $5, 15-leg NFL parlay that came through this week.

The final game of the parlay was on Monday night, where she had the Lions as a three-point underdog. William Hill paid out a couple times in Delaware, where betting on the cards is permitted.

Her dream, she says, is to make Vegas a pit stop on the way to owning a beach house in California.

The against-all-odds story gets better: Polia said this is only the second bet she has placed in her life.

Thanks to one of the most improbable betting stories, that might happen sooner rather than later.

. They beat the Saints, 35-27.

The 26-year-old Polia, who had just moved to Las Vegas two months ago, got 20,000-to-1 odds on the parlay card on betting firm William Hill’s mobile site. She cashed in by being on the right side of the point spread in 14 games and correctly picking the over in the  Steelers/ Broncos game.

For William Hill sports book director Nick Bogdanovich, this weekend wasn’t a good one, to say the least. A progressive pot of $170,782 was split by 17 people.

“On Sunday morning, my boyfriend and I were sitting on the couch talking about how spreads worked,” Polia said. The Patriots and  Seahawks were 14-point favorites and they both won by 17. Even though she was getting higher odds for picking against the spread, she said she spent time just picking who she thought was going to win the game instead.

“I remembered that I picked the  Giants and they lost,” Polia said.

The Chargers, as a two-point favorite, beat the Dolphins by 16. She bet that both teams would score more than 45 points. The Panthers beat the Giants by three. Polia had the Giants as a five-point underdog.

The closest game she had was the Steelers, who were six-point favorites on the card, beating the Broncos by a touchdown after spotting Denver a 17-point lead. Polia also was required to pick the over or under on that game. “So I thought it was strange when I looked at it [Tuesday] morning and saw that I won.”

Polia then called up William Hill and the person on the other line informed her that she was picking against the spread. The Packers won by 10 as a three-point favorite. Her card had the Cardinals and Bengals as four-point favorites, and they won by 23 and 10, respectively.

Polia said she has loved sports her entire life — a Celtics logo tattoo on her hip is a testament to her love of Boston, which she left because she got sick of the winters.

An hour later, Polia, with $20 in her account, risked $5 on the parlay. She had the Falcons as a three-point underdog, and the Texans and Redskins as one-point underdogs; they won and covered. “He was frustrated since I wasn’t getting it right away.”

Aside from the Giants as five-point underdogs, Polia’s card had the Vikings as a five-point favorite, and they won by 21. “Of course, he didn’t believe me.”

Bogdanovich said the $5 15-team parlay card for $100,000 has hit before. They scored 61.

“I somehow drove back home to tell my boyfriend in person,” Polia said