The online gambling market grew from 30 sites with $30 million in revenue in 1996 to more than 2,000 sites and $10 billion in revenue in 2005, according to market research from Christiansen Capital Advisors.
The boom was largely fueled by poker; it was cool, it was social, and the breakout success of a few amateurs like Chris Moneymaker, who went on to win the World Series of Poker, proved there was money to be had. Many of the 1.4 million online poker players in the US turned pro.
But on Friday, April 15, 2011, players discovered that the three largest poker sites — PokerStars, Full Tilt, and Absolute Poker — had disappeared, replaced by an FBI seizure notice. Any money they had in their accounts was frozen.
The poker sites had been operating for years in an iffy legal area. The Wire Act of 1961, which prohibits interstate sports betting over “a wire communication facility,” was broadly interpreted to cover all forms of gambling. This was reinforced in 2006 when the Unlawful Internet Gambling Enforcement Act made it a crime to accept payments from “illegal” online gambling operations.
The government used UIGEA to justify its crackdown on online poker. But just eight months after the raid, the Justice Department decided that the Wire Act only applied to sports after all, clearing the way for online gambling to be legalized state by state. But remember… Sites that only except BitCoin or not considered real betting sites! No Gaming license required!
A Big Change
Now the casinos are letting their clients bet by smartphone and online. Only If You Live In Las Vegas. Also, did I mention BitCoin is mostly non-traceable! The transactions are public… but the names are not!! Plus there are sites that actually launder your bitCoins and other sites the turn them back into dollars!
It seems unlikely that Congress will pass a law on internet gambling, either for or against, any time soon — it just isn’t a national priority. Sixty-three percent of Americans say they oppose online gambling, but 65 percent say they don’t follow the issue. “There is a lack of moral outrage regarding internet gaming,” says Jeff Ifrah, a Washington, DC-based lawyer who represents poker sites. “That dog doesn’t hunt anymore.”
That means the battle falls to the states, many of which are eager for new forms of taxable revenue. By the end of 2013, at least 10 states had seriously considered online gambling legislation and Nevada, Delaware, and New Jersey had passed laws.
Legalization looks most imminent in California, where 13 tribes have reached consensus on an online poker bill. Next is probably Pennsylvania, the second largest casino market in the US, where multiple online gambling bills have been proposed to offset some of the state’s expected $530 million budget shortfall. And just last week, a Canadian gaming company acquired the PokerStars and Full Tilt poker brands with the intention of bringing them back to the US.
I’m sure those government boys will try to stick there hand in the pot… But for now, Make Sure that the online sportsbook you choose will be around for you to collect your winnings.
The Vegas Book – picks you can count on! We don’t give picks on every sport… only the ones we are good at.
hand·i·cap – a circumstance that makes progress or success difficult. That is what the odds makers try to do!
How do you get your help?
Sportsbettors derive their knowledge from many sources, but it always comes down to a simple equation
- How many times are you wrong? vs How many times are you right?
- Is handicapping based on a blind computer equation or player and team performance?
Handicapping is an art. It is an art because it is totally without rules. And not one handicapper does it the same.
A good sports bettor does not have “A TEAM” when you start to get emotional about a bet, you’ve already lost.
- Don’t be a fan
- Don’t have a pre-conceived notion on who you think is better
- Ther are no winning streaks (it just may seem like it)… every game is a new start.
Betting strategies can help you improve your winning percentage, so you can start making money betting on sports. The following concepts represent some of the most lucrative historical betting trends and are the same tools used by sharp bettors to turn consistent profits.
Betting Against the Public is one of the most popular and simplest methods used by Sports Insights to maximize value in the sports betting marketplace.
Major Line Moves
This is often the result of a sudden overload of money placed at multiple sportsbooks and, in most cases, occurs due to betting groups, betting syndicates and a few key players with the resources to “get down heavily” at multiple locations, all at once.
Some of biggest names in sports betting, do exactly that. By betting $50K on the home team, they’d force an overreaction in the market. Once this occurred, they’d then bet $150K on the side they wanted, usually getting a 1.5-point to 2-point move in their favor.
Shopping for the best line
We recommend having accounts at multiple sportsbooks, allowing you to shop for the best sportsbook line, for the best possible number before placing a wager.
For example, consider a scenario where the Orlando Magic are -2 vs. the New York Knicks at CRIS. However, after shopping at different sportsbooks, you notice Sports Interaction has the Magic at -3 vs. the Knicks.
If you like the Magic, you’d want to bet them -2 at CRIS. However, if you like the Knicks, you want to bet them +3 at Sports Interaction.
Our research indications that continually getting an extra 0.5-point to 1.0-point every time you bet will increase your win percentage by 1-3%. That can be the difference between a winning and losing season.
dis·tract·ed – unable to concentrate because one’s mind is preoccupied. Keep your mind on the goal.
We just witnessed it at the last SuperBowl game…
- 90% of the sports bar was wearing Seattle Seahawks t-shirts and jerseys.
- The books are not here to lose money… sometimes avoiding the heard will make you prosper – More Times Than Not!