Sports fans have long been able to bet on games. But the increase in online betting options and the prospect of widespread gambling legalization have brought about a new golden age. What should new bettors know before placing their first bet?
By Eric Himmelheber, Tommy Parker & Kevin Watson
Baltimore Watchdog Staff Writers
At around 7 p.m. on many nights in Washington D.C., an anxious 23-year-old checks his FanDuel lineup one last time before it locks for the night. He prefers drafting stars who play during primetime so he has a reason to watch some of the best NBA teams rather than his favorite team, the Washington Wizards. Spending just a few dollars a night can keep him entertained on FanDuel, an online daily fantasy website where gamblers have a set salary to draft a lineup of players from all the games happening that night.
He opens his laptop. One tab has his lineups. The other has his homework. He will multitask between finishing his assignments and cheering for the players he has picked that night.
“I try to keep it interesting by picking players that I can watch because I don’t have the NBA [League Pass],” said Chase Travers, a college student and casual sports gambler who bets about twice a week. Travers spends most of his time, when he isn’t in class or working, checking on what is happening in the D.C. sports world.
Gamblers like Travers have increasing options these days. Sports gambling is already legal in New Jersey, Nevada and Delaware. Other states like Maryland and Virginia are currently working on legalizing it in the coming years. Maryland lawmakers were looking to fast track sports gambling early in 2019 but hit some bumps along the road. It looks like sports gambling in Maryland will have to wait until 2020 before any new laws are passed.
All 50 states are pushing to legalize sports gambling, but some are fast tracking it more than others. There are still 14 states that don’t have a clear future of when sports gambling will be legalized. Meanwhile, 13 states hope to have it legalized by 2021, including Maryland.
Travers would welcome that change.
“I think you should be able to do what you want with your money,” Travers said. “Betting on sports is huge. If you can do it in one state, I think you should be able to do it in all states.”
Television shows — and live sports broadcasts — are increasingly catering to gamblers by mentioning betting odds and fantasy players to watch. New websites have started that focus exclusively on sports gambling. And on SportsCenter, Scott Van Pelt highlights bad beats.
In 2017, $4.9 billion were spent on bets — a new record for sports betting. By comparison, the first year that sports betting was tracked was 1984 in Nevada, and $894.5 million was spent. With more states allowing gambling, these numbers are going to grow. And with sports gambling becoming legal, you can expect more casual, and novice, gamblers.
“I feel like there’s a lot of people that would gamble on sports that just can’t because it’s not legal where they live,” said Joseph Sherman, 23, a fantasy gambler who would participate in more gambling if it was legal in Maryland.
Since sports gambling is not legal everywhere, it can be done through private books as well as fantasy leagues and daily fantasy websites like FanDuel and DraftKings. With legal websites, it’s as easy as signing up and linking your bank account or credit card. However, with private books, it is a little different. After accounts are made on private betting websites and bets are placed, payouts are made digitally, through money transfer apps like Venmo, instead of hand-to-hand transfers.
“Depending how much they won or lost, I request the money from them or send it to them on Venmo,” said a former bookie who has asked to stay anonymous.
With sports gambling becoming more normalized, and more light being shined on it through TV programs and stadiums offering betting options, there may be little need for books. What some people do not know about gambling is how addictive it is.
“The brain reacts to it in a similar way as cigarettes,” the bookie said. “You can get yourself into a hole and lose money and become depressed.”
With the likelihood of gambling becoming legalized in more places, more people will be attracted to try it. Here is what to know if you are new to gambling:
5 things the casual gambler should know before placing a bet:
- The spread is the number of points that Vegas thinks one team will beat the other team by in a game. The spread levels the playing field. For example, if on Sunday Night Football, the spread for the Seahawks @ Rams is Rams -1, this means the Seahawks are one-point favorites. So, if you bet on the Seahawks, you want them to win by two or more points.
- The over/under is a number given before the game that means the overall amount of points that are going to be scored in a game. You can look at the number and see which one you want to bet. For example, the Sunday Night Football over/under number is 47. So, you either bet the game will have a combined amount points less than, or more than, 47.
- You can bet on any sport. Even though the NFL is the most popular league to gamble on, it doesn’t mean it is the easiest. The NFL has fewer teams and gets a lot more attention from bettors so, in turn, Vegas gets a good sense of where the money is and adjusts the lines accordingly.
- Know your bankroll. Your bankroll is the money you have saved up, put to the side or the money your significant other will let you spend. Specifically, for people just starting out, know how much money you are willing to lose and don’t let yourself spend more than that. “It’s dangerous because some kids don’t have a concept of bankroll,” said Bryan Towers, a casual gambler who has been doing this for almost a year. “They make large bets hoping for a big payout.”
- Do your research. If you don’t have a single idea on who, or what, team you’re betting on, you could lose a lot of money. Watch some sports shows through the week, like “Lock It In” on Fox Sports 1 or “Daily Wager” on ESPN. Then do your own research so you’re ready to bet on games the following week. Read “head to head” and “preview articles” on sports media outlets of your choosing. Sports betting isn’t investing, but it’s also not throwing your money away if you have knowledge about what you’re betting on.
While sports betting can be something as simple as counting 1-2-3, there are some things beginners should know before they’re ready to finally bet on sports. While knowing what is what before placing a bet is helpful, there are a handful of things novice sports gamblers should be aware of.
5 things to do:
- Research before you place a bet. Everyone we talked to for this story who gambles on sports said that they do some form of research throughout the day or week. “I check the lines as soon as I wake up,” said Jordan Burch, a regular gambler. “I also check it at lunch and as soon as I get home before I place my bets.” Some people even pay for expert help but that’s a little more extreme. Before you place a bet on a team you should look at trends, and what the team has done in past weeks so you have an idea about what to expect from them.
- Bet on what you want to bet on. At the end of the day, you are the person making the bet, so don’t let anyone control your bets. You can also take a look at sports or teams that don’t get as much attention, and you can become an expert with this sport thus gaining an advantage to get some wins. For example if Liberty University is playing at Towson and you know a lot about one of the schools it could be smart to place a bet if the line looks good.
- Be confident in your bets. If there is a line you aren’t sure about, it isn’t worth the risk. Put money on a game you have more faith in.
- Place bets early. As a sporting event that you are betting on approaches, the lines will change based on what the public thinks will happen. This means something you might have originally liked will no longer be available.
- Be careful. Gambling can be addictive. You can also lose money at a fast rate. Keep an eye out for unhealthy trends and call the National Gambling Helpline at 1-800-522-4700 if you need assistance.
5 things not to do:
- Don’t bet on your favorite team. “I never gamble on my favorite team,” Burch said. “There is too much emotion at stake.” When you bet on your favorite team, there is a lot of emotion, which can make your judgement a little hazy.
- Don’t bet on something you don’t understand. There are a ton of different bets that you can place. And if you don’t understand the bet, then why waste your money? You wouldn’t walk in a casino, sit at a table to play a game you’ve never heard of, and throw $100 on the table like a teaser bet (which is a parlay where you group two or more bets together, but in a teaser, you can tweak the point spread for a lower payout).
- Don’t double a bet because you lost. You shouldn’t place more money because one of your picks lost today. You are gambling. And in gambling, there are going to be wins and losses that you just have to accept. Burch learned that he has to be smart with his bets the following a bad day. He can’t just bet more money because he is down from yesterday.
- Don’t get caught up in a hot streak. If you win the first couple of bets you placed and believe that you can’t lose, trust every sports gambler that says you can. Don’t get caught up in a hot streak and bet big, or place a lot of bets, because you aren’t losing. It’s gambling. And sooner or later it will catch up to you.
- Don’t overreact to trends. If a team is on a three-game winning streak, don’t bank on them winning their fourth. The same goes for the opposite. Don’t bet against a team just because they’re on a three-game losing streak. Say the Baltimore Ravens beat their opponent by 40. Oddsmakers will open the Ravens at -6, but will possibly overprice the number to -8 because they know people will take the Ravens in their next matchup. So in short, it could be in your favor to bet on negative news and sell on something that’s positive.
Now that you know the rules of the road, it’s time to dispel some common myths.
5 myths about sports gambling:
- Betting stops when the game begins. There are all types of bets and some of them deal with things that happen in the middle of games. There are some places that will allow you to bet solely on the first half or the second half of the games. In most cases you have to bet at the start of the game, but you can place in-play wagers. There are multiple bets you can do during the game like point spreads, alternative point spreads, moneylines and totals.
- In order to win, bet the better team. The way that the line is set up both teams are technically entering the game on an even playing field. This means that you can bet on a worse team hoping for them to lose just to lose by only a certain amount.
- You should always listen to sports experts. There is a benefit to paying for a website to get some information for experts, but at the same time if you are only betting casual it’s not really worth it. Experts are still only making the best-educated guess that they can. Before he puts in his fantasy lineups every week Travers used to watch Matthew Berry’s fantasy show, but he noticed he was benching people based on what Berry said and the players were going off.
- Betting the over is for chumps. Betting the over used to be considered a mistake. With the way that football, especially right now with teams throwing the ball a lot this has changed a little.
- Sports gambling is still taboo. “The primary myth is that it’s always a shady business, primarily in the states where it’s illegal,” said Sam Dahne, a sports gambler from Baltimore. “Bettors and their bookies have a good relationship prior to any transaction and, more often than not, they’re friends as well.”
Dahne, 24, also an athletic trainer in Baltimore, started betting on sports on a consistent basis over a few years ago. During this time, he has bet on many sports including the NFL, MLB, NHL, NBA, and even a couple of UFC fights. At this point, it’s second nature to him.
“I originally got into sports gambling because of my love for baseball,” Dahne said. “I would regularly watch four or five teams even before I started betting and followed many players’ stats.”
Dahne figured that based on that knowledge, he could make money on a sport that he loved. The most he ever made (around $3,200) was on a parlay bet, which is a single bet that links together two or more individual wagers and is dependent on all of those wagers winning together. If one of those bets lose, the parlay in its entirety loses.
But, of course, Dahne has lost money just like everyone else. But he still enjoys the process of gambling.
“The primary benefit to sports betting is the idea that you can make money watching something that you love,” Dahne said. “It helps also helps to introduce people to sports you normally wouldn’t watch. I really enjoy NBA basketball now when prior I thought it was extremely boring.”
Sports betting makes bettors invested in games, for better or worse. Bleacher Reports’ “Best Sports Betting Reactions” shows the passion that goes into watching a game or race.
Dahne said that online sports gambling is not quite as addicting as betting in a casino.
“I would claim that it’s less addictive,” said Dahne, “as there are actual sporting events you need to plan for rather than spur of the moment bets. But I will say there is an addictive, and thrilling, quality of watching a game come together.”
Think you’ve got gambling terminology down? Test yourself here to see if you can understand what’s happening.
Top Left: LSU -7, -120. This means LSU is favored to win by 7 points, they must win by more to win the bet. The odds (-120) means $120 is placed to win $100.
Top Right: Florida Atlantic -7.5, -125. This means Florida Atlantic is favored to win by 7.5 points, they must win by more to win the bet. The odds (-125) means $125 is placed to win $100.
Middle Left: Total u66, -110. This means the total projected points is 66, both teams must combine for less to win the bet. The odds (-110) means $110 is placed to win $100.
Middle Right: UL Lafayette +6.5, -110. This means Appalachian state is favored by 6.5 points, UL Lafayette must lose by less to win the bet. The odds (-110) means $110 is placed to win $100.
Bottom Left: Total o49, -110. This means the total projected points is 49, both teams must combine for more to win the bet. The odds (-110) means $110 is placed to win $100.
Bottom Right: Baylor +9, -110. This means Oklahoma is favored by 9 points, Baylor must lose by less to win the bet. The odds (-110) means $110 is placed to win $100.