Global gambling group 888 Holdings parts ways with several business-to-customer (B2C) assets after a strategic business review.

Hard Rock Digital benefits from 888’s move that the company is calling a “controlled exit of its remaining US B2C operations”.

Hard Rock Digital is one of the United States’ leading sportsbook and online gaming operators. The company has been quick to pounce on the 888 assets after the company conducted its review.

888 sells B2C assets

The operator’s review earmarked the sale of their American-based assets after a rocky 2022 and 2023. The company reported a £115.7 million ($141m) loss in 2022 and £121.3 million ($151m) pretax loss in 2023 respectively.

Per Widerström, CEO of 888 said that “in the US, the intensity of competition and requirement for scale means huge investment is required to reach profitability.”

The leading man at the gambling operator said that despite some U.S. gambling markets doing well, “we (888) have concluded that achieving sufficient scale in the US market to generate positive returns within an accelerated timeframe is unlikely.”

888 concluded that as a “result of the review the Group has agreed the sale of selected assets to Hard Rock Digital (“HRD”), completion of which is conditional upon, amongst other items, relevant regulatory approvals. It is expected that the disposal will be completed in a number of phases, with final completion expected in Q4 2024.”

The dynamic of the U.S. gambling and online gaming market is only continuing to become more complex as 2024 unfolds.

Other than existing businesses giving up their territory in the U.S. market there are limited opportunities for gambling operators to expand their existing markets. This is unless a state allows for more gambling options to be present.

The biggest operators in the U.S. are ready to capitalize in states that have no form of gambling legislation.

An example is the state of Missouri. The home of the current Superbowl-winning champions the Kansas City Chiefs. The football team and other sports teams in the state are lobbying for an ease of the current restrictions on gambling. These established brands are looking to benefit from lucrative sports betting partnerships with brands such as Hard Rock Digital.

Image: Ideogram.

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Is there a way to learn how to win at slots? And if slot machines are truly random, are there strategies you can use to ensure consistent success?

We have answered these questions and more in this guide. Our casino experts have put together helpful tips and advice to ensure you put your best foot forward when playing slots.

Basic Guide on How to Win at Slots

Now, let’s be clear from the outset – there is no surefire way to determine how to win at slots every time. But there are certain actions you can take to ensure the best possible chance of winning. That said, you should remember that slot machines are games of chance where success is down to pure luck.

Below is a detailed guide, full of tips and tricks on increasing the chances of winning when playing slots. But instead of just dwelling on how to win slots at a casino, our gambling experts dig deeper into how slots work, the technology behind them, and some of the differences between online and land-based games.

After reading this guide, you’ll know exactly what slots are and how to play them successfully. More importantly, you will be perfectly equipped to identify games at the best online slot casinos with the best features to maximize your winning chances.

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How do Slot Machines Work

Slot machine wins are randomly generated. Every player has an equal chance of winning for any game, independent of their casino skills or knowledge. So the key for how to win money at slots is knowing the games to play.

Each slot machine has certain characteristics, like payout frequency, volatility, and return to player percentage, that govern its payout levels. These features, along with random number generators, determine the size and frequency of payouts.

Best Online Slots Winning Strategies

As stated earlier, slots success will follow if you place yourself where it’s most likely to happen. This means you must pick the right games and manage your bankroll appropriately. Here are our five best tips on how to win on slot machines.

Practice your Slots Strategy Using Dummy Cash

Using dummy cash is the easiest and most efficient way to test your strategy for online slots. This way, you can test all the slot techniques you want and know you won’t suffer any financial losses. Dummy cash is available at the best US offshore casinos – sometimes even before you sign up.

For instance, when you register a new Wild Casino account and play free slots, you will have an allocation of free casino credits in each game that you can use to test your favorite strategies. For instance, if you monitor how spins payout, you will have plenty of time to get a real feel of the game and the potential payouts.

Here is a little caveat though, online slots are random games, and basing future results on past activity can be misleading. So, keep that in mind when using dummy cash to test your strategies.

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Understanding Slot Machine and Slot Gaming Terminology

A good understanding of basic terminology is required when learning how to win at slots. You don’t have to be an expert, but knowing some of the main jargon will help you understand slot game features, bonuses, and gameplay.

Therefore, we have hand-picked some of the most common terms thrown around in slots circles. This is just a starting point, as you develop through your slot machines journey, you will find more that you can use to expand your knowledge.

Land Based Slots Casinos vs Online Slots Casinos

Online casinos are convenient, but how do they fare compared to traditional casinos? Land-based casino sites, like those found in Las Vegas, are still popular with some players, in part because they have a large selection of exciting slot machines. But are there benefits of playing online versus offline?

Here are the pros and cons of one versus the other.

Are Online Slots Rigged or a Scam?

Online slots are not rigged. These games are controlled by verified random number generators to ensure results are as unpredictable as possible. It is the same for all casino games, whether it’s table games or live casino games.

Additionally, online slot operators must be licensed to produce casino games. As part of this licensing, they must prove that their products are fair and free of any manipulation. Furthermore, regular audits are conducted by third parties to ensure RNGs are working as they should.

How to Win at Slots Every Time?

Of course, you cannot win at slots every time.  We have already established that slot machines are games of chance controlled by random number generators to ensure that outcomes aren’t predictable. That said, by following the ‘How to win at online slots’ tips and strategies available on this page, you can play optimally and give yourself the best chance of success.

Many big winners have been recorded at US offshore casinos, some of which we have highlighted below. Maybe you are the next big success story.

Online Slots With the Best Odds for Winning

Every new player wonders, ”is there a strategy to slots?” and casinos always publicize massive jackpot winnings on social media platforms. Examples include the $40 million Las Vegas jackpot in 2003 and the $23,6 million Mega Fortune jackpot from a 25c bet, so we understand why some players want to know the secret sauce to slot machine success.

The reality is that there is no guaranteed strategy on how to win at casino slots: slot machines are controlled by algorithms that ensure unpredictable outcomes. However, you can select games that give you the best chance of winning. Below are some of the best games to play if you are trying to find out how to win money at slots.

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Related Guides

How to Win at Slots – FAQs

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The island of Curaçao has come under criticism from a media watchdog as they asked authorities to cease allowing online casinos to target Australian consumers.

The Australian Communications and Media Authority (Acma) has banned offshore gambling companies from targeting its residents, with a large portion of the 1,000 blocked websites being licensed in Curaçao.

The Dutch island located north of the coast of Venezuela and in the south of the Caribbean has become a hub for online gambling.

According to The Guardian, an Acma spokesperson has said the agency had discussed its “investigations into individual services licensed in Curaçao” on six occasions since a meeting in June with the regulator to “establish contact.”

“Acam engages with overseas regulatory bodies for the purposes of assisting with our enforcement and disruption efforts against illegal services,” said the spokesperson.

“In relation to Curaçao, we have written to them about individual services licensed in their jurisdiction and about updates on the Curaçao regulatory framework.”

In response, the Curaçao Gaming Control Board has been reported as having said: “we take these breaches very seriously and will do all that is possible to stop them.”

Curaçao prominence in the world of gambling

This tiny island nation was one of the first to regulate online gambling and its ease of doing business, taxation scheme, and tolerant gambling legislation are three reasons why many gravitate to Curaçao for this area of business.

Regulated by the Ministry of Finance and the Financial Intelligence Unit, there are four master license holders on the island. New operators can then apply for a sublicense from one of these holders.

New changes to the process are incoming with the Curaçao Gaming Authority being the ones to grant licenses in the future and a shakeup of the framework to be implemented. They will assume greater control from March 31.

Featured image: Photo by Jorgen Hendriksen on Unsplash

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The Georgia House continues to deliberate over proposed legislation which could lead to the introduction of online sports betting in the Peach State.

On Monday, the House Committee members debated how sports gambling revenues should be spent, specifically  on education, if the changes come to fruition. Further dialogue will occur tomorrow (27 March) with Senate Bill 386 and Senate Resolution 579 on the agenda.

The former relates to setting up a structure for sports gambling in Georgia, whilst the latter would be the introduction of a constitutional amendment referendum to give voters their say on the matter.

If the laws progress to a plebiscite, the electorate could sanction sports gambling in Georgia at the upcoming elections in November.

How has the gambling legislation progressed in Georgia

Senate Bill 386 also permits the Georgia lottery body to offer up to 16 betting licenses, in a much-changed form compared to when it was first brought to the table earlier this year, right up to the committee sitting this week.

One such amendment was the instruction for betting operators to pay a tax rate of 20% on their revenues which was increased to 25% after the committee meeting. The main driver of this change was to maximize profits for Georgians to see the returns in vital services.

Democratic lawmakers have urged their colleagues to commit a share of the profits from sports gambling revenues to free school lunches, historically Black colleges and universities as well as other educational interests. Democrats on the committee also confirmed their support for re-establishing language to prioritize fully funded pre-K classes.

Athens Republican Senator Bill Cowsert, the sponsor of SR 579, stated his disagreement with no longer prioritizing pre-K classes and the requirement for 80% of Georgia’s gambling tax proceeds to go to lottery-funded educational programs.

He also dismissed allocating 15% for gambling prevention measures and 5% of the share to go toward the promotion of sporting events in the state. Those changes would mean the General Assembly would need to agree and set out exactly how much is to be spent on the issue of problem gambling, per year.

Image credit: Brad Huchteman / Unsplash

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The hotly anticipated AI assistant Rabbit R1 is set to begin shipping to US buyers this week.

According to Rabbit, the first batch of Rabbit R1 pre-orders will begin shipping on Sunday, March 31. With US deliveries taking a few weeks the company estimates that the initial R1 orders will be in customers’ hands ‘around April 24th’.

Debuting this year, the sherbet-toned orange Rabbit R1 has generated a lot of hype. Branded as an AI assistant, its arrival raises a lot of questions about the utility and impact of AI hardware in the age of smartphones. The Rabbit R1 is powered in large by San Francisco startup Perplexity’s LLM and the sleek and vibrant design by Teenage Engineering features a physical scroll wheel and a rotating camera, topped off with a cute animated bunny that serves as an avatar for the AI software.

The tech company started taking pre-orders of the Rabbit R1 for $199 in January – with the initial batches of 10,000 devices selling out rapidly. Batch one is set to release for shipping soon, however, buyers who purchased a later batch pre-order will have to wait a few months for theirs to arrive. Pre-orders for batch seven are currently live.

Rabbit is also hosting a pickup party in New York City at the end of April, open to all kinds of buyers and not just bulk orders. More information and details about the party and first deliveries will be released next week.

How does the Rabbit R1 work?

With such an appealing yet minimalist design, it raises the question of how this device works.

Well, the main way that users interact with the R1 is via pushing and holding the ‘Push to Talk’ button. This allows the Rabbit OS to start listening for input. An artfully designed rabbit head slowly rises and flows up and down as you speak your request. Booking a table for dinner? R1’s on it. Asking for a good Easter dinner recipe? No problem (Although no rabbit I hope). What track was sampled on Ice Cube’s hit ‘It Was A Good Day’? These are the types of questions that the Rabbit R1 can handle with ease, according to their controlled video demo.

Featured image: Rabbit: R1

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Betano the Greek sportsbook operator has reportedly signed a new deal with Premier League outfit Aston Villa.

The soccer side penned the deal according to an article exclusive via the UK newspaper The Telegraph.

Aston Villa and Betano deal

The deal is rumored to be the biggest sponsor to be emblazoned on the jerseys of the Birmingham Premier League team. Coming in at £40m ($50.4m) they will wear the Mediterranean parlay site’s logo and branding across the 2024/25 and 2025/26 Premier League seasons.

The new sports betting sponsor will be in place for a brand-new kit deal with Adidas that the Aston Villa faithful will flock to in droves. They are leaving behind the current sponsor Castore for the world-renowned Three Stripes created by Adi Dassler.

Betano has deals with Portuguese clubs FC Porto and Sporting Lisbon, as well as Brazilian teams Atletico Miniero and Fluminense.

The Brummy side are battling for a place in the Champions League next season. This is the top European competition that all sides want to be a part of as it has the most lucrative branding, broadcast, and sponsorship deals that come hand-in-hand with qualifying for the elite tournament.

Aston Villa is in a good spot to qualify as they are fourth in the world’s most elite soccer league. However, they battle to remain in contention for one of the coveted places.

The Betano deal will reportedly be the biggest in the club’s history and will help the side with financial fair play (FFP) requirements that are enforced on European clubs to avoid dodgy dealings or the club’s spending more than they can afford. The club from Birmingham recorded a loss of £120m ($151m), which regulatory body UEFA said was the biggest across all European clubs.

The side helmed by Spaniard Unai Emery had a spectacular start to the season with eight consecutive home wins and a notable feather in the cap with a December win over Arsenal. They fell out of the hunting pack for the Premier League title but retained a vice grip on the fourth spot despite a turbulent recent run of games.

They face a rematch away from home against Arsenal, which has a bit of added spice as Emery was once the manager of the London club before being shown the exit door. Manchester City also await away from home before the season ends.

The biggest fixture for the claret-wearing club comes at home as rivals Liverpool will close out the season at Villa Park. This game could decide the European ambitions of the club and the men in red could be the real villains of the piece if Aston Villa’s form doesn’t improve.

Image: Aston Villa FC.

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The state of Pennsylvania has raked in a record iGaming revenue for the month of February to the tune of $184.9m.

The Keystone State did however map year-on-year declines in all the other markets involving staking in sports betting markets.

Pennsylvanian iGaming record profit

The report from the Pennsylvanian Gaming Control Board (PGCB) reports a 9% overall increase in total gaming from February 2023 to 2024. This figure would sit at an impressive $499,093,210 overall for the haul from games of chance across the year.

The returns from retail slot machines was “$202,742,794, a 0.04% decrease in revenue when compared to the $202,822,213 generated in February 2023,” according to the report. This shows a small dip in contrast to the previous year, but retail slots remain the largest source of iGaming revenue for the state.

IGaming slot revenue saw a significant 35.6% jump from $92m to $125.9m, and internet table games more than doubled with from $36m to $56.6m, a 56.7% increase.

Online poker seen an 8.3% revenue decline to $2.4m, the only major negative report alongside the sports wagering figures.

Hollywood Casino at Penn National Race Course led the pack of operators with a 36.8% year-on-year increase in iGaming coming in at $77.3m, with Valley Forge Casino Resort the next in line with $44.8m, taking home the bronze was Rivers Casino Philadelphia on $29.3m for the year.

Pennsylvania would also see a 30% decline in taxable sports wagering revenue, which would also mark a year-on-year decline. This was despite an increase in annual revenue which the report would highlight as “$661,740,812 or 10.38% above the February 2023 total of $599,529,429.”

Valley Forge Casino would be the standout across the year for the Keystone State with annual revenue of $17.7m with Hollywood Casino at the Meadows trailing behind on $7.6m. The Fantasy Contest revenue market would see a 5% decline from 2023’s watermark and Video Gaming Terminals (VGT) in the state would see a marginal dip by 2.4%.

The report would say of the VGT’s that “By the end of February 2024, all VGT Operators offered the maximum permitted five machines at 72 qualified truck stop establishments, compared to five machines at 66 establishments at this time last year.”

The PGCB is currently promoting gambling awareness month for the state and took to X to promote their activity to tackle problem gambling:

PGCB Program Analyst Jack Gallick (3rd from left) and Office of Compulsive and Problem Gambling Director Liz Lanza (4th from left) joined other professionals in the capitol in Harrisburg today to promote Problem Gambling Awareness Month. pic.twitter.com/iHBmKuoyAE

— PGCB (@PAGamingControl) March 18, 2024

Image: Pexels.

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Gambling operator Flutter is making changes to the way deposit limits work for flagship sports staking platform Sky Bet.

In a change to current deposit limit restrictions, the operator will now allow users to withdraw funds and retain their deposit limits.

Traditionally if a user were to win funds from a stake they would be able to withdraw the entire funds, but would not be able to place additional bets if their deposit limit balance was negative.

For example, if a person placed a basketball parlay at £20 ($25.44), their maximum deposit limit, and the gamble was successful they would be able to take the funds but would be timed out until their deposit limit reset.

Now users can win their bets and back more plays due to the change in policy from the gambling operator. This change in policy effectively resets the deposit limits of lucky punters who go into the green on the sports betting platform.

What is Sky Bet?

Sky Bet is a gambling platform that offers a plethora of markets within a set sport or competition. Users take advantage of the odds on offer to place parlays and bets on their favored sport and the Flutter-owned brand is one of the largest in the United Kingdom.

The company is tied into the wider Sky Sports franchise which offers sports packages to viewers across Britain. The company is a subsidiary of Comcast, the United States communications giant that is readily known to U.S. residents for their household NBC brand.

NBC has its own sports network, broadcast predominantly via Peacock, but it also hosts ESPN’s major channels ESPNU and ESPN3 for users who sign up to the broadcaster’s many subscription packages.

In related news, ESPN has launched a standalone betting app that has seen some restrictions placed on current staff working inside the sports powerhouse. ESPN’s concentrated move to get a homegrown betting application off the ground shows that this is an emerging trend for major sports networks to rival the likes of Draft Kings and Fan Duel.

The major challenge that gambling operators face in the U.S. is the legislation set out by each individual state, which can vary massively in the markets that are legalized. Recently the Super Bowl winning side the Kansas City Chiefs pinned their hopes of a stadium expansion on gambling becoming legal in the state of Missouri, but may face a long wait until November when this could become a palpable reality.

Image: Sky Sports.

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DraftKings has confirmed executive changes at the company with Jason Park taking up the newly created position of Chief Transformation Officer to lead strategic initiatives for additional growth, including a targeted acquisition of Jackpocket.

Park’s existing role as Chief Financial Officer will be filled by Alan Ellingson, who is elevated from his current position as Senior Vice President of Finance and Analytics. 

The changes will take place as of 1 May 2024, with the rationale explained by Jason Robins, Chief Executive Officer and Co-founder of DraftKings.

“I have asked Jason Park to take on a new role at DraftKings to address and capture large efficiency opportunities that I expect will generate significant incremental profitability over the coming years,” he said.

“Jason’s unique skill set, based on his accomplishments over the last five years as our Chief Financial Officer and 11 years as a private equity Operating Partner, will allow us to further improve how we operate. In addition, I’m confident he will unlock the benefits of our proposed acquisition of Jackpocket following its closing to strengthen DraftKings’ position in U.S. online gaming.”

Robins indicated the company is set to move with the times to exploit transformational artificial intelligence (AI) applications which have the potential to deliver a long-term advantage for betting platforms.

He continued, “I am very excited to elevate Alan Ellingson to Chief Financial Officer and have him continue to lead the Company on the very clear path that we have laid out. Alan has been with DraftKings for more than four years, has extensive experience across our finance and analytics teams, and most importantly, deeply understands our core value drivers and focus on maximizing shareholder value.”

Further expansion for DraftKings

Last week, DraftKings announced the launch of its online sportsbook in North Carolina, the 27th US state in which it now operates.

The company detailed the latest expansion for the gambling platform, as the arrival of online and mobile DraftKings betting in North Carolina follows on from an agreement earlier this year with NASCAR, which opened up its initial foray into digital sports entertainment and gaming in the state. 

Image credit: DraftKings

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An Australian government financial intelligence agency has launched a probe into British gambling company Bet365 over concerns about its adherence to anti-money laundering and counter-terrorism regulations.

The Australian Transaction Reports and Analysis Centre (Austrac) is the watchdog investigating the leading betting brand, registered locally as Hillside (Australia New Media).

Specifically, the investigation is seeking to establish if the gambling platform has met its obligations, following a supervisory campaign targeting firms within the betting sector and Austrac’s review of an external audit report on Bet365.

Brendan Thomas, Austrac CEO stated, “Corporate bookmakers must have robust systems in place to ensure they can manage and mitigate risks associated with money laundering and terrorism financing.”

“Businesses without adequate processes in place to manage those risks leave themselves vulnerable to exploitation by criminals,” he added.

The government body also monitors banks and casinos, those who handle large volume transactions, to ensure they have effective compliance systems in place to act as a bulwark against the flow of the proceeds of criminal activity.

Any company found in breach of its responsibilities can be fined by Austrac, with financial institutions Westpac and Commonwealth Bank of Australia being two high-profile entities to have been sanctioned in recent times.

Who owns Bet365?

Earlier this year, it was revealed Bet365 boss Denise Coates was paid around £221 million in remuneration for the last financial year, taking her overall earnings over the last four years to over £1 billion. ($1,275b).

The figure was £7m higher than the previous year with Ms Coates also receiving at least £50m worth of additional dividends, despite reported a pre-tax loss of £72.6 million for the company, compared to the £49.8 million profit they achieved in the 12 months prior.

A Sunday Times report listed the Coates family as the third-biggest taxpayers in the United Kingdom with their tax bill relating to their business interests, primarily Bet365, coming in at £375.9m ($476.02m).

Ms Coates, who is believed to be one of Britain’s richest women, founded the Bet365 website in humble beginnings, based in Stoke-on-Trent, England, where the company still has its headquarters.

The company has enjoyed a meteoric rise to becoming one of the biggest online gambling platforms in the world, contributing to Coates’ ownership of Stoke City Football Club.

Image credit:  Dan Freeman on Unsplash

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Super Bowl winning team the Kansas City Chiefs would consider the impact that gambling legalization would have on the team’s assets and branding options.

Arrowhead Stadium, the home of the Chiefs, has been the source of much renovation and planning discussions since Chiefs Chairman and CEO Clark Hunt and President Mark Donovan presented the club’s vision, “Taking an icon into the future.”

Kansas City Chiefs and gambling legislation

Kansas City in Missouri is often confused with the state of Kansas. Kansas the state has some form of legalized gambling, as do most of the states that border the state of Missouri, which the Chiefs call home. Oklahoma is the only other state with no recognized sports wagering legislation.

The Chief’s home state does not allow sports wagering, but the early lobbying and bills that have progressed flew through the Missouri State House but were shut down by the Senate. This is despite the Supreme Court giving states a choice over gambling and sportsbooks being legal after a 1992 ruling known as the Professional and Amateur Sports Protection Act (PASPA) was struck down in 2018.

At that time, Justice Samuel Alito wrote for the court, “The legalization of sports gambling requires an important policy choice, but the choice is not ours to make.” The court’s “job is to interpret the law Congress has enacted and decide whether it is consistent with the Constitution,” he wrote. “PASPA is not.”

The Missouri Senate’s block has forced the state’s sports teams to go on the offensive and petition for sports wagering to appear on the November election ballot. This will bypass the Senate’s ruling and give the people of Missouri the power to make the decision. The Chiefs, Royals, Sporting Kansas City, Blues, and Cardinals have all been lobbying for this possible form of lucrative revenue from gambling partnerships that other state teams utilize.

“We think it makes sense,” Donovan said. “The states around us have proven that. If you look at what Kansas is doing and the amount of revenue they’re generating, that’s just revenue that we, as a state, are not getting.”

The NFL team’s current $800-million renovation plans depend on voters in the state deciding on a sales-tax extension on April 2. However, if the narrative of sports betting were changed in the state, the Super Bowl holders would have no end of suitors wanting to back the national champions.

The Chiefs and the other sports sides in the state hope their lobbying attempts will get on the November election ballot and that voters will follow the yellow brick road to the legalization of sports betting in Missouri.

Image: KSC

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The FTSE-100 gambling group that owns Ladbrokes, Entain, has begun to prepare a sale of PartyPoker, in an effort to stall activist investors.

Entain has hired bankers to prepare a sale of PartyPoker as part of its attempts to revive its core operations, reports Sky News on March 12. Advisers from Oakvale Capital are reportedly working on the prospective sale of the online poker business, according to company insiders. The deal is expected to go for roughly £150 million ($192 million).

That’s quite the drop from the £5 billion valuation that PartyPoker’s then-parent company PartyGaming got when it first floated in London in 2005. However, the last 19 years have seen the online poker service lose a huge swathe of its customers.

PartyPoker is considered non-core to Entain’s business, as it also owns British-based Ladbrokes, Coral, and a stake in major US betting company BetMGM, which recently made a push into the UK market. The planned sale comes after Entain has endured pressure and criticism from activist investors that have built up strong positions on its share register.

The company parted ways with former CEO Jette Nygaard-Andersen last year and is now headed up by interim chief executive Stella David. Shares in Entain were trading at around 758p on Friday morning, down from 739p on Tuesday morning.

What are activist investors?

Activist investors refer to those engaging in a form of activism where shareholders use equity stakes in a corporation to put pressure on its management. In the case of Entain, these investors are using the methods to express their concern about Entain’s poor performance in its core markets, particularly as regulators have recently tightened regulation on the online gambling industry.

These investors have also voiced grievances with management’s costly deals, which could account for why the sale of PartyPoker is now on the table. No official reason has yet been stated as to why Entain is considering and reportedly preparing for the sale of the online poker company.

Featured image: Entain

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As the betting and entertainment business continues to boom in the US, Caesars Entertainment and the National Hockey League (NHL) announced an extension of their partnership.

Announced through a press release last Thursday (Mar. 7) the duo confirmed a new multi-year contract that retains Caesars’ status as a Sports Betting and Gaming Partner of the NHL.

For the first time, the Caesars Digital brand will also have access to League-owned intellectual property to build and promote NHL-branded iCasino games for its online platforms in North America.

The president of Caesars Digital elaborates on the news: “With the defending Stanley Cup Champions residing in our home city of Las Vegas, we have a front-row seat to the excitement and passion that the NHL provides…

“This partnership extension with the League continues our efforts to build on that fan passion by bringing unforgettable experiences to all of our valued customers across both sports betting and online casino.”

NHL Vice President of business development Jason Jazayeri added: “We look forward to the next chapter of our relationship focused on delivering unparalleled access to our sport for NHL fans.”

With access to IP rights, the possibilities for Caesars Entertainment are more vast than before.

Betting boom in the U.S. continues

The history of betting in the U.S. hasn’t always been a smooth ride, with a sports betting ban being imposed in 1992 under the ‘Professional and Amateur Sports Protection Act.’

Nevada and three other states were the only places where some legal sports betting could take place, with the home of Las Vegas being the first to legalize and regulate betting in 1949.

As such, Nevada remains the most robust gambling market in the country.

Other states could soon follow, as more and more officially launch online sports betting. In North Carolina did just that earlier this week (Mar. 11).

In 2022, over 25 million people engaged in sports betting in the U.S. and that figure is expected to rise by 47 percent by 2025.

Featured image: Ideogram

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Online sports betting is now made possible in North Carolina, as it was made legal as of noon ET on Monday (Mar. 11)

The bill was passed last summer to allow people located in the state, who are over the age of 2, to bet on professional and college sports. It will be regulated by the North Carolina State Lottery Commission which was first set up to oversee the state lottery in 2006.

Eight companies were able to start taking bets online this week, with the North Carolina Lottery Commission issuing licenses to:

• Betfair Interactive US, LLC (dba: FanDuel Sportsbook)
• BETMGM, LLC.
• Crown NC Gaming, LLC (dba: DraftKings)
• FBG Enterprises Opco, LLC (dba: Fanatics Sportsbook)
• Hillside (North Carolina), LLC (dba: bet365)
• Penn Sports Interactive, LLC (dba: ESPN BET)
• Underdog Sports Wagering LLC
• Eastern Band of Cherokee Indians

Speaking in a company press release, the North American president of DraftKings Matt Kalish expressed his satisfaction: “With the NCAA Tournament right around the corner and the NASCAR season in full throttle, we are thrilled to be launching our top-rated sportsbook app in North Carolina,”

“The Tar Heel State is home to a passionate fanbase and some of the most iconic college basketball programs of all time, making this an exciting time to introduce legalized online sports betting.

“We’re proud to be working alongside NASCAR as our market access partner and look forward to enhancing the fan experience across North Carolina with a fun, safe and seamless sports betting product.”

This marks a substantial change as this is the first time this has been made possible, following the 1992 ban under the ‘Professional and Amateur Sports Protection Act.’ This made it illegal for states to authorize legal sports betting.

This was then overturned in 2018 and states began to open up to the idea over the last couple of years. Before this, anyone who wanted to bet on sports legally had to travel to casinos in Nevada or three other states that were exempt.

The North Carolina sports wagering law which was passed last June lays out how the tax revenue will be spent too. $2 million will be set aside each year to support people with gambling addiction and a further $1 million will support youth sports.

The tax revenue will also go towards being used to attract big events to the area, like sports tournaments and music festivals.

Betting is becoming big business in the US

Since the initial ban was overturned in 2018, online betting has been on the rise throughout the U.S. with Americans having gambled more than $245bn.

In 2022, over 25 million people engaged in sports betting in the U.S., with the figure forecast to rise by 47 percent by 2025.

Photo by Lesli Whitecotton on Unsplash

The post North Carolina officially launches online sports betting appeared first on ReadWrite.

Our detailed online gambling guide will explain how to join a casino or sportsbook, what types of platforms there are, and what bonuses you can claim.

Online Gambling: Getting Started

Looking for information on how to gamble online for real money in the US? Below is a free online gambling guide that will lead you every step of the way, so let’s get started:

Ready to go? Start gambling online today at BetOnline.

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Pros & Cons of Online Gambling

Online gambling has its perks, but there are things that only land-based casinos can deliver. Here are the main pros and cons of online casino gambling.

Popular Forms of Online Gambling

Casino games, sports betting, and poker are the three main gambling verticals. Read our online gambling guide for beginners to learn about each and the betting options available.

Online Casinos

Online gambling sites boast huge game collections unmatched by any land-based casino. They feature all the fan-favorites, including:

• Video slot machines
• Table games
• Live dealer games

Regardless of the gambling guide you turn to, you’ll see that online slots dominate real money casinos. Casino sites offer everything from traditional 3-reelers with retro themes to more complex 5-reel slots with exciting bonus features and innovative mechanics.

Online slots come in an assortment of themes, symbols, and payout structures, with RTP percentages reaching 99% and hit rates as much as 30%+. Plus, you can win money on progressive slots from major providers such as Microgaming and Pragmatic Play. It’s like hitting the big time on Megabucks in your local US casino.

Online casino gaming also stretches to table games. Popular games at online casinos replicate the brick-and-mortar experience gameplay-wise, but you play against the random number generator instead of a shuffle of the cards or spin of the wheel.

Operators offer different variations of blackjack, roulette, and baccarat, and you can enjoy any of them at your own pace. Plus, you can enjoy playing casino games for free with demo-play versions.

When it comes to live dealer games, they add a social component missing from RNG titles. They involve a real dealer, but the entire gameplay is streamed live from professional studios in HD quality. Enjoy real-money gambling while you chat live with the host.

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Online Sportsbooks

Thanks to online sportsbooks, you can bet on any college and professional sport you want from anywhere. Currently, 38 US states legalized sports betting; however, you should always check with your local laws because some permit only in-house sports betting, some allow placing bets online, and some allow both.

Punters can bet on sports in countless events and leagues from around the globe. The most popular betting markets in the US include:

• Football (NFL)
• Basketball (NBA)
• Hockey (NHL)
• Baseball (MLB)
• Soccer
• Tennis
• Golf
• Motorsports
• Mixed martial arts (UFC)
• College football (NCAAF)
• eSports
• Politics/Elections

Sports betting enthusiasts have many bets at their disposal. They can choose among the moneyline, point spread, over/under, prop, or future bets. Live betting, parlays, and numerous betting features sportsbooks offer, such as Cash Out and live streaming of events, have added an extra layer of excitement to the classic wagering on sports.

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Online Poker

Poker is prevalent on most online gambling platforms, and you can enjoy it as part of the casino games or visit poker rooms entirely dedicated to this timeless classic.

You can use your player funds to participate in cash games or enter tournaments and Sit ‘n Gos. Poker games are available from small stakes too, including freerolls with zero entry fees.

Although there are numerous poker variations, the most popular are:

• Texas Hold’em
• Omaha
• Seven-Card Stud
• Five-Card Draw
• H.O.R.S.E.

Aside from these staples, the operators also cover niche variants, such as Razz, Badugi, and Pineapple. Moreover, operators offer poker games with different rules and betting structures to keep things fresh and exciting.

Alongside the games, poker tournaments started drawing more attention. The poker rooms host anything from small events with several people to multi-table competitions featuring substantial prize pools. Participating in online poker tournaments can earn you a seat in the premier industry event — the World Series of Poker.

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Learn How to Play Games

If you are interested in learning the way classic casino games like blackjack, poker, and roulette work, find a comprehensive online gambling guide for each of them below:

Learning the Best Online Gambling Strategies

You can try various betting systems when playing at an online casino or sportsbook to help you win more long-term. The good news is that we offer full guides here on how to win at betting online.

For example, we offer a range of casino strategy guides including the Martingale system which you can use on roulette and other table games.

You can also learn how to win at poker with some invaluable advice. Plus, catch up on a host of poker strategy tips to improve your Hold’em game. Read up on making the best moves and bets to enhance your Cincinnati Kid skills.

You can also view our guide to optimal sports betting strategy to find the best ways to win on NFL and other games.

Deposit and Withdrawal Options

Payment gateways are essential to online gambling. The fastest payout casinos allow you deposit and withdraw winnings and bonus funds. Knowing how to make quick cash-outs is essential when you are learning how to gamble online.

The most used and credible options include credit cards (Visa, Mastercard, American Express) and bank transfers. However, in general, you’ll be waiting around 3–5 business days to get hold of your winnings. Some cashout fees may also apply.

Some players prefer paysafecard, or an e-wallet solution such as PayPal, Neteller, or ePayz. They provide an easy and anonymous way for you to move funds from a secure online wallet straight to your casino account.

Finally, the top cryptocurrency casinos accept instant deposits with major digital coins, such as Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Aside from providing speedy transactions and anonymity, you can use them both for deposits and withdrawals.

Bankroll Management

According to industry experts, good bankroll management is one of the most important and successful gambling tips, increasing your chances of success by over 10%.

Knowing how to manage funds allocated for online gaming properly will prevent you from chasing losses if you experience a bad day or end up on a losing streak.

Factor in all the wins and losses, and be prepared to play longer to eventually reach big wins, and even then, there are no guarantees. Setting a betting limit, keeping a daily record of your game sessions, and withdrawing regular amounts slightly lower than your deposit will help you big time.

Online Gambling Bonuses

Online casino bonuses and promotions significantly boost your balance every time you make a deposit. Our brief gambling guide on bonuses teaches you that the most common ones are:

• Welcome bonus
• Free spins
• Free bets
• Reload bonuses
• VIP/Loyalty programs 

The best casino sign-up bonuses are reserved for newly registered users and are usually deposit match offers. Once you deposit a certain amount, the operator will give you a bonus that matches 100% or 200% match bonus on initial deposit. Sometimes, casinos spread this offer across multiple first deposits.

Free spins can sometimes come separately, but they are usually a part of a welcome package, and you can use them on your favorite video slots. On the other hand, sportsbooks give away free bets, where you can make a wager without risking any money.

The casinos also have plenty of offers for their regular customers, including reloads and loyalty programs. Once you have used your welcome offer, you can claim a reload bonus, and the operator will give you a 50% bonus match or more on the funds deposited on a specific day.

And those who know how to gamble online like pros and have a long mileage with the casino can join their loyalty schemes and scoop higher and better rewards.

This is not the end, and you’ll see online gaming sites offering cashback promos, no-deposit bonuses (rare), and VIP/high roller promotions.

How to Gamble Online: Top 8 Tips

You may benefit from knowing these online casino tips if you are a newbie and want to try out the things for yourself.

Current Trends in Online Gambling

As the iGaming industry changes at an astounding rate, it also changes the traditional ways of how to gamble online. Several trends have recently affected the online casino sector recently, including the rise of mobile gaming and cryptocurrencies.

Since users can access the platforms via their mobile devices, the companies invest heavily in optimizing their sites and developing mobile casino apps for seamless gameplay on the go.

Furthermore, it is only a matter of time before players start using their smartwatches to gamble online. In fact, according to Statista, the online gambling and betting industry was worth $63.53bn in 2022 and is expected to hit the $138bn mark by 2028.

On the other hand, there is a growing number of online casinos supporting cryptocurrencies, especially Bitcoin and Ethereum. We now have entire casinos powered by blockchain technology, known as “gambling dApps”. These are decentralized and blockchain-powered gambling platforms that rely on smart contracts to deliver a more rewarding experience.

Artificial Intelligence (AI) has also taken over the gambling sphere. With its help, operators can predict customer behavior and tailor their services to their preferences. As AI evolves, we can also expect them to implement machine learning algorithms to optimize game outcomes and offer immersive VR and AR-based gaming.

Final Thoughts

There are many online casinos and game selections that you can choose for play or real money. Spin the slots, play roulette, or enjoy a hand of Texas Hold’em, all from your laptop or smartphone. Our gambling guide has given you just a taster. All you need to do is choose the right casinos, sportsbooks, and poker sites today.

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Using the right Baccarat strategy, players can improve their win rate and reduce the house edge to a bare minimum. The game has been around for 5 centuries so pro gamblers had more than enough time to refine several tactics.

We have put together this comprehensive guide to help gamblers catch up with prominent baccarat winning strategies. They all have complex and exotic names but are quite easy to memorize.

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Best Baccarat Strategies for Players

We’ll look at some of the most commonly used baccarat strategies in casinos. They mainly suggest which betting pattern to use and how to optimize your spending, and all strategies assume you are betting on either a banker or a player.

Fibonacci System

A quick math trivia before we explain how this works. A Fibonacci sequence is a string of numbers that look like this: 1,1,2,3,5,8, etc. Every number in the sequence is the sum of 2 numbers that precede it. – 0+1 =1/ 1+1=2/1+2=3/2+3=5/3+5=8 etc.

Players use the Fibonacci System as a baccarat strategy to optimize their spending. Whenever you lose, you make your bet equal to the next number in the Fibonacci sequence. You usually start with $1 bets and increase the amount every time your bet loses.

According to this baccarat betting strategy, once you win, your new bet size should be 2 steps back in the sequence. If you won $5, you bet $2 on the next round. You keep that bet size so long as you are winning, and when you lose, you resume where you left off in a losing streak.

Martingale & Reverse Martingale

Martingale is the simplest baccarat strategy to win if you are a new player. Just remember to double your bet size whenever you lose and keep doubling up until you eventually win. This way, all of your losses are recovered instantly, and you also make small progress through wins.

When using reverse Martingale, you double your bet after every win. The main idea is to capitalize on a big winning streak.

For both of these baccarat strategies, you’ll need a starting bet size that should be pretty low. Bear in mind that it’s possible to end up on a long losing streak and go bust, so know when to back off.

D’Alembert & Contra D’Alembert

Many consider D’Alembert the best strategy for baccarat because it’s similar to Martingale but less aggressive. You set a base betting limit, e.g., $2, and that is your wager unit.

Each time you lose you increase your bet by 1 unit, in this case by $2. Also, each time you win, you decrease your bet by 1 unit.  So, let’s say you lost 4 times in a row and the 3 following rounds. Your bet size per each round would be $2(L),$4(L),$6(L), $8(L), $10(W), $8,(W), $6(W).

Contra D’Alembert is a similar baccarat game strategy, where you increase the wager size by 1 unit after each win. You also decrease it by 1 unit after each loss.

Pair Bet Strategy

This is a unique baccarat strategy to win at pairs side bet, and it’s impossible to pull off in real casinos. You’ll have more chance of succeeding if you play at the best live casino sites that have baccarat with pairs side bet option.

The idea is to play a game with 8 decks in a shoe and follow which cards are no longer in the shoe. If a large number of the same cards are left in the shoe, then the player’s edge on this side bet gets significantly higher.

You will need to create a spreadsheet with a specific formula for tracking cards and update it after each round. This will then automatically calculate your odds for success in pairs bets. This YouTube guide explains how it works and tells you where to find the spreadsheet.

Mikki Mase Strategy

Mikki Mase is a gambling celebrity who claims that he can recognize patterns as the game goes on. Also known as the dirty goth boi baccarat strategy, this tactic is all about prioritizing banker bets and changing your wagering patterns based on previous outcomes.

It’s hard to tell whether there is any merit to Mikki Mase baccarat strategy as he never clearly explains how it works. He only claims that he knows how to recognize these hidden patterns or outcomes. For all we know, it could all be a scam dressed in a veil of mystique.

Paroli System

The Paroli system is almost identical to the reverse Martingale strategy baccarat. So you use the original bet size whenever you lose, and you double it when you win. The difference is that you can only double it up to 3 times. After 3 wins, you return to the original bet size.

Labouchere System

For the Labouchere baccarat strategy, you’ll need a sequence of numbers like 3,4,5, for example. Your bet amount is always equal to the sum of the first and the last number in the sequence, in this case, $8 (3+5).

If you lose, the sum of money you wagered is added to the sequence (3,4,5,8), and the bet amount for the next hand is 8+3 or $11. If you win, the first and the last number are removed from the sequence. So if our next hand has won that means 3 and 8 would be removed.

Oscar’s Grind Strategy

Just like its name suggests, this winning baccarat strategy is a real grind. Once again, you’ll need to establish a wagering unit (e.g., $2) and form a cycle around it. Whenever your profits are equal to +1 in wager units, the cycle restarts.

When you lose, you keep your bet unit the same as in the previous round. Whenever you win, you can increase your bet size by 1 unit. You’ll go back and forth until your win profit reaches +1 bet unit, and the cycle begins anew. Here’s an example that demonstrates how it works.

Let’s say your wager unit is $2, and you play 6 rounds with the following results – L, L, L, W, W, L, W. The amounts you wager would be – $2, $2, $2, $2, $4, $6, $6. In the next round, you would bet $8, but if you win that one, you restart at $2.

1-3-2-6 System and 1-3-2-4 System

1-3-2-6 represents the multipliers that you use on your original bet unit whenever you win. So, if the base unit is $2, and you win 4 times in a row, your bet amount for each round would be – $2, $6, $4, $12. When you lose, you just reset the sequence back to 1.

The idea here is to get 2 wins in a row and then lower the wager amount to offset the potential loss. If you end up winning 3 times in a row, you have a chance to make a bigger win and significantly increase your profit.

The 1-3-2-4 system has the same application. The only difference is your final bet is not that risky. So, even if you lose and don’t get a 4th win in a row, you still have some profits from the last 3.

The James Bond

Here is a fun online baccarat strategy that is called James Bond, but you can call it Christopher Columbus if it makes it easier to remember. Why, you ask? Well, you need to remember 3 numbers 14-5-1, and Christopher Columbus was born in the year 1451.

The idea is to bet $14 on the banker, $5 on the player, and $1 on the tie. Your maximum potential loss is $10 per round, while your potential profit is nearly $8. Does this work? Who’s to say…probably not. It’s still fun, though.

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Cheat Sheet for Baccarat Payouts

Regardless of the baccarat betting strategy you are using, it’s a good idea to have a reminder on how payouts work. You can use the baccarat cheat sheet that details both payouts and house edge for each betting option.

Of course, there are multiple versions of baccarat, and not all of them have the same side bets. So, if you plan on using the cheat sheet, make sure you pick a version that is compatible with it.

Top 10 Baccarat Betting Strategy Tips

In case you need to brush up on your basics, keeping these essential tips in mind will make any baccarat strategy more successful.

Prioritize the Banker Bet for Lower House Edge

Out of the two main options that pay 1:1, the banker has a slight edge of coming on top. So, regardless of the pattern or baccarat winning strategy you plan to use, make sure to prioritize banker bets.

Familiarize Yourself with Baccarat Rules

When you play at the best online casinos, the rule sheet is always a click away. Use that rule card if you ever need to remember when the banker/player hits or stands or how payouts for tie and side bets work.

Set a Fixed Budget Before Playing

Even the best baccarat strategy will fall short without proper budget management. As you can see, many tactics revolve around your budget and setting your bet unit. A good rule of thumb is to set a budget and have your base betting unit be 2% of that budget.

Opt for Shorter Playing Sessions

You should play as long as you are having fun. Using the best baccarat strategy can extend your playtime, but you are under no obligation to continue if you don’t feel like it. You can play on a mobile casino at any time, so 20-minute sessions are ideal.

Choose Games with Fewer Decks

Although the house edge isn’t drastically affected by the number of decks, every little bit counts. If you are exclusively playing on Banker, fewer decks in the shoe will go to your advantage. Unless you plan to use the Pair Bet baccarat strategy, then standard 8-deck options are better.

Practicing Baccarat Strategy to Win

Finally, you can test all of the baccarat strategies to win in demo mode. You don’t have to spend real money; just use the play-for-fun mode and see if they work for you. Once you find the approach that you like, use it in real money games.

3 Things to Avoid when Playing Baccarat Online

In addition to some of the tips and tactics mentioned above, there are a few things to avoid when playing. Make sure that you don’t fall into these 3 traps:

Avoid Chasing Patterns in Baccarat

There isn’t a single legitimate baccarat pattern strategy or a way to predict who will win in the following round. Many players love to write their pattern and stick to it, just so they avoid overanalyzing the arbitrary outcomes.

You can do the same, and that way, decide in advance how many rounds you’ll play. Just write a Player/Banker pattern that will look natural and that will prioritize the banker bets.- e.g.P/B/B/P/B/P/B/B/P/P/B/B/P/B/B.

Avoid Opting for the Tie Bet in Baccarat

Tie bets just aren’t worth it. You have around 9.5% of getting it right, while the payout is 8 to 1, or 9 to 1 in some variations. The option is mainly there to tempt you and help the casino earn more money.

The same rules go for other possible side bets that might be available. The odds of winning those are slim, and potential payouts just aren’t worth it.

Avoid Overlooking Game Variations

Different variations might have slightly different rules, and that can mess up your baccarat basic strategy. After all, the tactics we listed above only apply to traditional rules. You might want to look for specific variants that use traditional rules but lower number of decks.

More Online Baccarat Guides

If you want to play this game online, then feel free to check out some of our other useful 2024 guides:

Related Online Gambling Guides

What is the Best Strategy for Baccarat?

Each tactic has its strengths and weaknesses, and none of them guarantee victory, but in our opinion, the best strategy for baccarat is Oscar’s Grind. You don’t need to ramp up your bet size after every loss, and winning streaks are rewarding.

The second best 1-3-2-4 system, as it mainly ramps up your bet size after a win and keeps spending to a minimum. That being said, it’s only truly satisfying if you get 4 wins in a row, which is unlikely. The reason we find Oscar’s Grind superior is its excellent recovery potential.

Here are the main pros and cons of Oscar’s Grind:

FAQs

The post The Best Baccarat Strategy Guide – Learn How to Win at Baccarat appeared first on ReadWrite.

FanDuel is set to arrive in Washington D.C. following displeasure at the performance of GambetDC in the city.

The number one sports gambling brand in the United States recently confirmed expansion to its 22nd state in a partnership with the NFL side, Carolina Panthers. The brand will now enjoy further growth in a prominent jurisdiction.

Thanks to local legislation, FanDuel’s arrival in the District will make it the only sportsbook available to gamblers throughout the city.

In a letter to the DC City Council, the Office of Lottery and Gaming (OLG) discussed the GambetDC venture’s poor results and the rationale for confirming OLG’s approval for “Intralot’s request to select FanDuel as a new subcontractor” for the lottery’s sports wagering platform.

Intralot Inc. is the existing lottery and sports gambling system vendor in partnership with OLG. Together, they introduced GambetDC, but it has not been a successful operation, with a lackluster performance record exacerbated by various complaints.

In a January meeting of the Lottery office and the council, D.C. Council Committee on Business and Economic Development (CBED) Chair Kenyan McDuffie encapsulated the lack of satisfaction with GambetDC.

“I’ve heard from many residents about their unease with the district’s woeful performance on sports betting,” he stated.

“I absolutely share those same sentiments, from issues around usability, customer service, and seriously declining revenue. We know the current model simply is not working,” added McDuffie on the venture, which has delivered $8.5 million in taxes to the District since its launch in May 2020.

During the same sitting, the OLG chairman intimated Intralot was ready to bring in a subcontractor, with FanDuel mooted, although no date has yet been penciled in for when the new service will go live.

“FanDuel’s industry-leading offering will ensure that the District maximizes tax revenue under its existing contracts this year while delivering a best-in-class experience for 18+ residents,” said Suarez.

What is the current sports betting landscape in Washington, DC?

At present, GambetDC is available digitally and at kiosks at lottery retailers. It will be replaced by FanDuel offerings, including all branding and kiosks, at 63 lottery retailers.

Existing betting operators in the city can only offer their digital services within a limited zone around their retail partner’s location. For example, BetMGM has a partnership agreement with the Washington Nationals, allowing users to have a flutter at their platforms around Nationals Park. Still, this offering is geofenced from the rest of DC.

Image credit: Pierre Blache/Pexels.

The post FanDuel sportsbook set for exclusivity in DC appeared first on ReadWrite.

Parimutuel betting is one of those terms everyone seems to have heard of but very few people understand. Also known as tote betting in the UK, parimtuel betting is synonymous with wagering on greyhound and horse racing.

In simple terms, parimutuel betting describes a pool wagering system. Payouts are determined by the amount of money staked on each potential outcome. But how exactly does parimutuel betting work? What are the pros and cons of this system?

What is Parimutuel Betting?

When engaging in parimutel betting, all wagers on a particular race or event are collected together in a pool. This means that you’ll be wagering directly against fellow bettors within the pool, rather than having a traditional ‘back’ bet laid by sportsbooks at fixed odds (which is how sports betting usually works).

As you won’t be wagering at fixed odds, you won’t know your wager’s final price or return. This is one of the most intriguing aspects of parimutuel betting. The eventual payout you receive could range anywhere from less than your original stake to an astronomical return.

Once all bets have been placed, taxes and the sportsbook’s commission (or vigorish) are deducted from the total. Subsequently, the final odds and payouts are determined by dividing the total value of the pool by the amount staked on each individual horse, and we’ll explore this in a little more detail below.

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How Does Parimutuel Betting Work?

As parimutuel odds aren’t fixed, you’ll have no idea about your potential payout until the event has finished. But how exactly are dividends worked out and how do sportsbooks arrive at the eventual odds?

Let’s say that you bet on a popular horse race, such as the Kentucky Derby. In this case, a parimutuel pool collates a total of $100,000 across the five favorite runners, while the total stake on each horse to win equates to $20,000. In this example, the pool is completely even and creates an equal payout.

Payouts are subsequently calculated by dividing the total value of the pool but the amount wagered on each runner (or outcome). In this case, we’ll divide $100,000 by $20,000, creating an odds value of 5.00 (or +400 when using the American format) that’s applied to each horse.

This means you’ll bank a return of $5.00 for every $1 wagered successfully, inclusive of your stake amount. So, if you wager $100 on the winning runner, you’ll receive $500 in total and $400 in pure profit. As usual, you won’t receive any kind of payout if you pick the wrong horse.

In the above example, we’ve assumed that all the money collated by a sportsbook would be payable to winning bettors. In the real world, however, an online sportsbook would apply a 10% – 15% vigorish or commission on the total take, with the remaining pooled funds being distributed among winners.

How are Parimutuel Odds Calculated?

Not seeing the odds before an event starts means that parimutuel betting is not for the faint-hearted.  But the practice provides a clear deviation point from fixed odds wagering. If you see betting lines ahead of an event, these provide a basic guide price based on expected wagering volumes.

When you place a fixed odds bet, you’ll be able to analyze the odds and calculate the implied probability of outcomes. This can help to inform your stake and estimate your return. But, you’re afforded no such advantages when engaging in parimutuel betting.

Remember, there are two primary factors that help sportsbooks to calculate parimutuel odds. These include:

• The total amount of money staked within the pool
• The total amount of money staked on each potential outcome

Now, let’s look at how odds are calculated using the practical example of the 2024 Kentucky Derby. Let’s say that $100,000 is wagered on the win market in this race, with the sportsbook in question applying a 10% vigorish to leave a total pool of $90,000. All bets are placed on the five ante post favorites to win as follows, minus the deducted juice and taxes.

• Sierra Leone – $50,000
• Forever Young – $15,000
• Timberlake – $10,000
• Track Phantom –  $10,000
• Fierceness –   $5,000

Knowing the cumulative size of the pool and the amount staked on each runner, we simply need to divide these numbers to create odds and potential payouts. These calculations will yield the following results:

• Sierra Leone – $90,000 / $50,000 = 1.80 (-125)
• Forever Young – $90,000 / $15,000 = 6.00 (+500)
• Timberlake – $90,000 / $10,000 = 9.00 (+800)
• Track Phantom –  $90,000 / $10,000 = 9.00 (+800)
• Fierceness – $90,000 / $5,000 = 18.00 (+1700)

Based on betting volumes, Sierra Leone would be the short price favorite ahead of the race. The starting odds will also be -125, so you’ll need to wager $125 to bank a profit of $100. Effectively, you’ll recoup $1.80 for every $1 wagered successfully, so only a significant stake would unlock a sizable parimutuel return.

Conversely, wagering $100 successfully on the least popular runner (Fierceness) would return an impressive $1,700. So, you’ll bank approximately $18.00 for every $1 staked. Congratulations! You’re creating a big payout in the unlikely event of your runner prevailing.

The History of Parimutuel Betting

The history of parimutuel betting can be traced back to France in 1870. Local entrepreneur Pierre Oller introduced a new and collaborative method of wagering that changed everything. The world’s first parimutuel betting systems were launched at French racetracks in 1891 before crossing over the Atlantic to the US towards the end of the 19th century. New York state then legalized parimutuel betting in 1913.

In the 1920s, a device called the ‘totalizator’ was designed to help issue and record parimutuel bet slips in New Zealand. This helped to encourage a broader array of exotic parimutuel bets to be placed, including daily doubles, exactas and quinellas (but we’ll discuss these in more detail below).

By 1940, the ‘Parimutuel Revenue Law’ was enacted in NYC, while the State Racing Commission was subsequently empowered to license parimutuel betting on horse races. This created a template for other jurisdictions to follow, with a number of US states having made parimutuel betting a key feature of their online offerings.

Types of Parimutuel Bets

As we’ve touched on, Parimutuel betting has grown in popularity over the years, introducing a growing number of exotic bets since the development of mechanical and computerized machines. Here’s a summary of the most popular parimutuel bets and wager types.

• Win Bets – Win bets are the most popular type of parimutuel wager, as they enable you to back the winner of a particular race or event. This type of bet can unlock variable returns depending on the size of your pool and the amount staked on each runner.
• Place Bets – With a place bet, you’ll wager on a runner or participant to finish within a certain number of places. In horse racing, this will usually include the top two, three, or four places, depending on the number of runners. You can also engage in each-way parimutuel wagering, which sees you split your stake amount between win and place bets and potentially receive a payout that’s around a quarter of the final odds.
• Show Wagers – The show betting market is also synonymous with horse racing, and requires you to back a runner to finish either first, second or third. You’ll receive a similar payout regardless of where your pick finishes within these places.
• Across the Board – This complex wager type features three bet types: namely win, place and show. If your pick wins, you’ll claim all three payouts from the relevant pools in the classic parimutuel system. If your selection places second it will win the show and place wagers, while a third place finish will trigger a share of the show bet payout.
• Exacta Bets – Exacta bets carry increased complexity and risk, as you’ll have to select two runners that will finish first and second in a single race. Interestingly, you’ll also have to predict the correct order that they finish, otherwise you won’t be able to claim any kind of return.
• Quinella Bets – These wagers are similar to an exacta bet, but while you’ll still pick two runners to finish first and second, there’s no requirement to get the order exactly right. This equates to a single wager with two potentially different payouts, while a winning quinella can actually pay more than an exacta in a parimutuel system (depending on your picks).
• Trifecta Bets – As the name suggests, this parimutuel bet asks you to pick three horses that will place first, second and third in a single race. You’ll also have to predict the exact order in which they finish, while it’s one of the most difficult bets to place successfully either on or offline.
• Superfecta Bets – We’ll close with the most complex and difficult wager type, as a superfecta bet requires you to correctly predict the identity of the first, second, third and fourth finishers in a race. Once again, you’ll have to correctly predict the order in which they’ll finish, which is a considerably difficult task.

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Pros & Cons of Parimutuel Betting

While we’ve described the functionality of the parimutuel betting system and how parimutuel payouts are structured, you may still be unsure as to whether this type of wagering is right for you. So, we’ve prepared some detailed pros and cons of this practice to help you make an informed decision!

Parimutuel Betting Strategy

If you’re going to make a successful fist of parimutuel betting, you’ll need to get strategic and embrace different techniques that may improve your chances of winning. So, here are some tips to help you create a parimutuel betting strategy.

• Target Bookies with Minimal Commission Fees: To begin with, let’s target one of the potential cons associated with parimutuel betting. More specifically, it’s not unknown for sportsbooks to apply a vigorish of between 10% and 30% when establishing parimutuel pools.  You can immediately boost your potential returns and odds by targeting brands that offer a lower rate of commission.
• Use Fixed Odds Betting Markets to Inform Your Selections: While you won’t be able to view the odds before the start of a parimutuel betting event, you can still use fixed odds sites to gauge value and calculate the implied probability of each runner winning. This means that you can tailor your selections to suit the size of your bankroll and appetite for risk, while relying on informative datasets. In general terms, prioritizing short-price favorites may unlock slightly higher value than you would find at fixed-odds sportsbooks.
• Focus on Win, Show and Place Wagers: If you’re familiar with fixed odds betting but new to parimutuel systems, it’s important to simplify your strategy and use exotic wager types sparingly. Instead, prioritize win, show, and place wagers where possible, which can contribute to a balanced approach that helps optimize returns and minimize your risk of loss. Inform your selections based on factors such as form and fixed odds market analysis. Remember that win bets deliver bigger payouts and show or place wagers increase your chances of securing a return.

Parimutuel Betting by Sport

Another key aspect of your parimutuel betting strategy will be the sport that you intend to wager on. While this type of betting is synonymous with horse and greyhound racing, it can also be used when wagering on golf. Here’s a breakdown of how it works in relation to different sports.

Horse Racing

Parimutuel betting is legal in 43 US states in one form or another, while it’s most commonly used to wager on horse racing. In fact, most US-based sportsbooks feature dedicated racebook verticals, which often prioritize parimutuel betting and structures over fixed-odds markets.

Pools will be established in relation to specific events, with so-called “morning lines” published by operators. These lines share typical racecard information and an estimated guide price for each runner. Key and familiar datasets here will include the trainer and jockey combination (as some pairs perform better at specific tracks), recent form and any weight that will be carried by a runner in a handicap race.

You can then compare the fixed odds market for the event using comparison sites such as Oddschecker, before completing your analysis and picking your preferred runners and wagers. You’ll then place your bets and commit your stake money to the pool, contributing to a total amount that will dictate your final odds and payout.

Obviously, odds are continually being calculated as bettors place their wagers. Unlike with fixed odds betting, you won’t see this fluctuation or gauge the volume of bets. Instead, you’ll have to wait for the event to start for this information to be published.

Golf

While parimutuel betting is nowhere near as popular or widespread in the sport of golf, its structure lends itself to the discipline and major tournaments such as the Masters and US Open.

For example, up to 160 players often compete in majors of this type and pro events on the PGA Tour, creating ample opportunities for parimutuel betting and far more flexibility in terms of how odds are priced.

But what are the precise benefits of engaging in parimutuel betting in the sport of golf? Well, wagers can be spread across a large number of outcomes and potential winners. This creates a relatively even market that unlocks competitive odds (especially when backing betting underdogs).

Sure, this can also create volatility and mean that final odds (and payouts) can vary wildly within a short period of time. But, once again, fixed odds markets can help you to make informed player selections. Acessing win and place wagers can help you optimize your chances of winning in the process.

Final Thoughts on Parimutuel Betting

So, there you have it: our comprehensive guide to parimutuel betting in the US. This is one of the oldest and most popular betting systems in the world. It remains synonymous with horse racing and unlocks a huge range of wager types.

It’s also relatively easy to understand. Odds and payouts are calculated simply by dividing the total amount staked in a pool by the amount bet on each outcome. There are even some strategies to help you get the most out of parimutuel betting. Such strategies include the analysis of fixed odds markets!

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Responsible Betting

However you choose to engage in parimutuel betting, you’ll need to ensure that you wager responsibly at all times. Remember, there’s no form of wagering that isn’t risky, and parimutuel betting is no exception.

The first step to responsible betting is setting a conservative bankroll. Your bankroll should consist of an amount of money that you can comfortably afford to lose. This should ideally cover a specific period of time, event or race meeting. You can also use customizable deposit limits to help manage your bankroll’s deployment.

Of course, you may still struggle with your betting activity on occasions, or find yourself wagering outside of your means. In this instance, we recommend that you reach out to the National Problem Gambling Helpline. Help is available through their website or by calling 1-800-GAMBLER.

This will provide you with practical support and help you to curtail any compulsive behavior before it becomes too problematic.

Improve Your Sports Betting

Parimutuel Betting FAQs

The post Parimutuel Betting – What is Parimutuel Betting & How Does It Work? appeared first on ReadWrite.

Having a sports betting strategy is key to minimizing your losses and making the most of your starting bankroll. However, it can be hard to create an effective strategy given the variables involved in sports betting and the differences between different disciplines.

The good news is that there are basic sports betting strategies and principles which may contribute to better picks and practices over time. But what are examples of basic and advanced betting strategies, and how can applications vary between different sports? Don’t worry we’ll cover everything you need to know before logging into your favorite online sportsbook.

What is a Sports Betting Strategy?

In simple terms, a sports betting strategy represents a structured approach to gambling. By introducing order in terms of how you navigate betting markets and the amounts that you wager, you can negate the unpredictable nature of sports events and minimize your losses over time.

A sports betting strategy also helps you to negate the house edge that favors sportsbooks partially. Remember, online betting sites typically apply a minimum 10% commission (or ‘vigorish’) on the odds that they set, affording them a nominal edge across all moneylines, point spreads and over/under markets.

To provide some context, let’s say that two bettors wager $11 on opposite sides of an NBA game between the Brooklyn Nets and Boston Celtics (at odds of 11/10). This creates a total risk of $22, while the winner will bank a return of $10 and recoup their initial stake ($21 in total).

In this instance, the house keeps $1, and if you divide this profit by the $22 staked and multiply the remaining value by 100, you can see that the house retains a 4.55% edge. So, it’s crucial that you recognize this and develop a betting strategy to help counter it.

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Why Use a Betting Strategy?

As we’ve touched on, an informed sports betting strategy helps to introduce order and logic when wagering on unpredictable events and matches. While the unpredictability of sports like football and soccer help to make them so popular among viewers, it also makes profitable betting incredibly difficult.

A strategic approach also encourages you to assume greater control over various aspects of sports betting, such as your stake amount, the wager types that you deploy and the strategic use of free bet offers. For example, a betting strategy encourages the strategic use of wagers that can create value when engaging in match betting. Instead of just backing a heavy favorite at restrictive odds, for example, you can use point spread bets to access much longer prices.

Or, you could combine several different match favorites in a multi-game parlay, enabling you to back each one at a single, extended price. When used successfully, such strategies can turn the odds in your favor and directly counter a sportsbook’s house edge.

Professional sports bettors often employ betting strategies like the ones we’ve mentioned to build their bankrolls and make millions of dollars. While you may not be at the pro level yet, betting strategies offer a different perspective on sports betting and can help you not only increase your winnings, but may even add to the fun!

Basic Sports Betting Strategies

We’ll start by addressing ‘basic’ sports betting strategies, which are single building blocks that each enable you to take control of your wagers and selections.

By grasping these, you can simultaneously minimize the risk of loss while accessing enhanced betting odds. You can also lay the foundation for more advanced betting strategies, which we’ll touch on a little later on.

Bankroll Management

You should always set aside a fixed sum of money for the purpose of sports betting. This should be an amount that you can comfortably afford to lose, and this is commonly referred to as your ‘bankroll’.

Bankroll management describes the organization and deployment of your sports betting budget, usually over a predetermined period of time. This is fundamental when you learn how to bet smart on sports, as it encourages you to develop a disciplined and strategic mindset and plan your betting activity in more detail.

This can be especially useful when placing multiple bets during a particular timeframe or competition. For example, let’s say that you wanted to set a $2000 bankroll for the entire NFL regular season, and wager on approximately five matches each week. You could calculate your bankroll as follows:

• Take your starting bankroll of $2000 and deposit this or set it aside
• Divide this amount by the number of NFL game weeks ($2,000 / 18). This creates a weekly sports betting budget of $111.11.
• Then divide this sum by the number of matches you want to bet on ($111.11 / 5). This establishes a single betting unit of $22.22 to be deployed on each game.

More generally, try to ensure that individual stakes never exceed 5% of your bankroll. This lets you withstand losses more effectively and gives you a little wiggle room to increase stakes when needed!

Understanding How Odds Work

The comprehension of odds is also crucial to any successful betting strategy. This is because odds can be used both to calculate your potential return and the implied probability of a particular outcome occurring.

Here in the US, you’ll typically encounter so-called “American odds”. This is one of three major odds formats that you’ll encounter online, while they combine three-digit numbers with either a ‘minus’ or a ‘plus’ sign. The former is indicative of a betting favorite, while the accompanying number tells you exactly how much you’ll need to stake to win $100.

Conversely, the plus sign denotes a betting underdog and lets you know how much you’ll win for every $100 stakes. So, if you successfully backed the Chicago Bulls to upset the Cleveland Cavaliers in the NBA at pre-game odds of +325, a $100 bet would unlock a return of $325.

When using American odds to calculate implied probability, there are two separate equations to consider depending on whether you’re backing an underdog or a favorite. For example:

• For Positive Odds: (100 / (odds + 100)) * 100
• For Negative Odds: ((odds * -1) / ((odds * -1) + 100)) * 100

Using the same example of betting on the Cavaliers vs the Bulls, we can see that the latter’s odds of +325 imply a 23.52% probability of them winning (100 / (300 + 100) * 100). Alternatively, you can back the Cavaliers at a price of -360, suggesting that they have a 78.26% of prevailing: ((-360 * -1) / ((-360 * -1) + 100)) * 100).

This understanding can help you to identify really good value bets, and hopefully set your stake amounts accordingly!

Search for the Best Betting Lines

This may sound obvious, but it takes time and effort to compare markets and the best betting lines ahead of a particular sporting event. However, this underpins most successful sports betting strategies, as the best odds translate into optimal returns when you wager successfully!

Of course, you can also seek out enhanced or guaranteed odds promotions (where available) to further ensure that you’re accessing competitive prices. Over the course of the season, line shopping can lead to incremental and consistent gains that really boost your bankroll.

Early Bets Secure Early Odds

Wagering early can also unlock enhanced odds and higher potential returns. This is especially true when dealing with futures markets, which often open well in advance of an event reaching its conclusion and may include a number of potential winners. This is why it’s important to always check your preferred offshore sportsbook for the first sign of futures betting markets.

For example, if you were to bet in February on the NBA Championship winner, you’d be able to pick from a huge field of contenders. This translates into much longer odds, which typically shorten for the favorites during the playoffs and as the number of potential winners dwindles.

While the price of less fancied teams may also ‘drift’ over time and create more appealing odds, this suggests that such sides aren’t being heavily backed and are far less likely to win. So, if you intend to back betting favorites at the best possible odds (which is a universally effective betting strategy), wagering early in some instances is highly recommended!

Avoid Extensive Parlay Bets

While it’s accepted that informed and strategic parlay betting can create value in match wagering, this is also an inherently risky strategy. After all, each of your same or multi-game parlay picks must be successful for the bet to pay out, so the risk of loss increases in line with both your number of selections and potential returns.

If you were going to wager on the next Premier League gameweek as a soccer fan, for example, there are 10 match outcomes that you could include in a multi-game parlay. However, successfully picking 10 winners in a single game is incredibly difficult and unlikely, and it would take considerable time to research the relevant data and team statistics.

Instead, it’s important to avoid extensive parlays where possible by capping your number of picks at between four and six, depending on your chosen sport or event. Similarly, try to prioritize superior teams and short-price favorites where possible (such as Manchester City and Liverpool in the EPL), as this increases your chances of success while still allowing you to make a profit.

Embracing Available Data

‘Study the form’ may be one of the most generic pieces of sports betting advice imaginable, but accessing and studying data can be key to a successful wagering strategy. The key is identifying the most relevant datasets and statistics, depending on your chosen sport and the outcomes you intend to back.

In the NFL, for example, you can access online weekly team rankings that include a huge number of datasets. One of the most telling is the ‘Against the Spread’ metric, which indicates how teams are faring in relation to the point spread set by individual sportsbooks.

This is insightful when engaging in moneyline or point-spread betting. For example, the Baltimore Ravens outperformed the point spread by +7.6 points through 2023 while they covered the spread 63.2% of the time. By tracking this data through the season, you can effectively gauge team performance and make more informed bet selections.

Remember to identify the key datasets for each sport or league and multiple snippets of information to help arrive at a decision.

Advanced Sports Betting Strategy

If you consider yourself to be a more seasoned bettor, you may feel ready to embrace more advanced sports betting strategies. These can lead to further gains and even guarantee nominal profits in some instances, although they’re slightly more complex and difficult to execute sports betting techniques.

Hedging Bets

We all use the term “hedging your bets” colloquially, in instances where we avoid making a decision as we cannot decide which one is right. This term has a slightly different meaning in sports betting, however, as it involves a strategic decision that looks to provide optimal coverage of a specific match or event.

More specifically, to ‘hedge’ a bet is to place an opposite wager that minimizes your net loss or delivers a small (but guaranteed) profit. Perhaps the most straightforward example occurs if your first two picks win in a three-team parlay. To guarantee a return, just hedge the third leg of the parlay with a specified stake amount that reflects your desired profit.

So-called “matched betting” is another strategy that allows you to hedge bets. For example, when wagering on an NBA matchup between Orlando Magic and the New York Nicks, you could ‘lay’ a back bet on Orlando to win and simultaneously cover all potential match outcomes.

You can do this at a designated betting exchange, while you can guarantee a profit by backing both outcomes at the same odds and making use of one or more free bet offers.

Create Your Own Betting Lines

If you’ve really earned your stripes as a sports bettor, you can also create your own betting lines at sportsbooks. One way to achieve this is by buying or selling points, based on your knowledge of the two competing teams or detailed analysis of the ATS numbers and similar metrics.

When you ‘buy’ points in sports betting, you’re able to effectively shift the line and access enhanced odds. Sure, this is in exchange for an incrementally higher stake, but it can also increase your chances of winning and banking a return.

If you were backing the San Francisco 49ers to win in the NFL as a -7.5 favorite, for example, you could buy a point and move the line to -6.5. If you were backing the 49ers against a huge betting underdog like the Arizona Cardinals, you could also sell points to create enhanced odds and significantly higher returns.

Understanding Hooks in Point Spread Betting

The half-point or ‘hook’ may seem like a small detail in sports betting, but it’s actually a huge tool in the bettor’s armory. Half points are used in point spread betting to eliminate the draw as a potential outcome, theoretically increasing your chances of placing a successful bet.

Using the previous example of backing the 49ers to defeat the Cardinals with a point spread of -7.5, the former would have to win by eight points to secure a payout. When backing the Cardinals with a spread of +7.5, they just need to lose by seven points or less to cover the spread.

You can also buy the hook in a spread, once again altering a betting line in exchange for a slightly higher stake. So, you could theoretically back the 49ers at -7 points, potentially creating extended odds in the process.

Contrarian Betting Strategy

The contrarian betting strategy is exactly as it sounds. More specifically, it’s a strategy that involves betting against the public or popular sentiment, based on the notion that the average bettor is uninformed and biased towards specific outcomes or markets.

It may also assume that bettors are placing emotive wagers on their favorite sides, causing the most supported teams to carry a disproportionately short price (especially in the most popular sports). So, in certain instances, there’s value in going against the grain and betting on alternative and higher priced outcomes.

Central to this sports betting strategy is the analysis of ‘public money’. This describes the amount of money that the general public have wagered on a specific outcome, with this having a direct impact on odds and how they fluctuate over time.

So, if your analysis suggests an outcome that goes against the flow of public money, you can bet at enhanced odds and unlock far better returns.

Cashing Out Early

Most sportsbooks enable you to cash out before bets have been settled, although the T&Cs deployed by each operator may vary wildly. Some allow particularly early cash outs, for example, which can help you to minimize loss in the event of wagers going awry.

Obviously, timing is key when cashing out early, especially when wagering in-play on high-scoring and fast-paced sports such as basketball. However, this affords you more control over your active bets, and allows you to contend better with the unpredictable nature of sports! Conversely, this is why live betting has become so popular amongst bettors.

For example, let’s say that you backed the Boston Celtics to defeat the LA Lakers with a spread of -4.5 points (at pre-game odds of -110).  If you staked $100, you’d be in line to win $90.91 if the Celtics covered the spread, but you quickly find that Joe Mazzulla’s side are up against and down by 10 at the beginning of the fourth quarter.

Suddenly, the prospect of a Celtics win has diminished, while the chances of them prevailing by five points or more are negligible at best. At this stage, your bookie may offer an early-cash out option that allows you to recoup a percentage of your stake, which may be considerably smaller than your payout in event of a win but far better than losing the full $100.

However, when using some bonuses and promotions offered by sportsbooks, it’s possible that cashing out early won’t be an option. Make sure to read the terms and conditions before placing your wagers!

Become an Expert

Experts sport bettors are simply individuals who boast extensive knowledge of specific disciplines, teams, and players. They subsequently leverage this to identify and create value in published odds, while many such bettors hone their skills over time.

So, if you’re an avid NFL or NBA fan and have extensive knowledge of these leagues, you have all the tools you need to become an informed and strategic bettor. The key is to start slowly and scale your efforts in line with increased success and experience, while also identifying the best resources to help guide you on your journey.

Here at ReadWrite, for example, we offer objective information and insight across a broad range of sports. We also publish informational articles that help you to get to grips with the intricacies of sports betting and strategies such as bankroll management.

If you’re just getting started, we’d urge you to check out our comprehensive sports betting glossary and understand some of the most widely used terms.

The Difference Between Sports Betting Strategies and Sports Betting Systems

Often, you’ll notice that the terms ‘sports betting strategies’ and ‘sports betting systems’ are used interchangeably.

This is understandable but wholly unhelpful, as these describe two very concepts in the world of sports betting. For example, a sports betting system describes a number of tested rules, methodologies and principles that you use when placing bets, such as your starting bet unit.

Conversely, your sports betting strategy provides an holistic and overarching approach to minimizing losses and optimizing returns over time. So, you may use one or more betting systems (such as matched betting) as key components of a much broader strategy across different sports.

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Best Betting Strategy by Sports

Of course, the key systems and sports betting strategies that you deploy will vary wildly from one discipline to another. Here’s our take on some of the best sports betting strategies for specific categories and leagues.

NBA Betting Strategy

You can access some detailed data when betting on NBA matches, including real-time public money information and the percentage of bets placed on specific teams. Therefore, betting against the public can be a viable strategy here, particularly given the popularity of the NBA and the number of emotive wagers placed by fans.

To do this successfully, you’ll need to monitor initial betting lines and observe their movements over time, while using ATS and similar datasets to identify where the public may have gotten it wrong!

MLB Betting Strategy

Over/under betting is particularly popular when wagering on baseball and the Major Baseball League (MLB). This is especially true if the pitching matchup sways you in a particular game, while you can fare particularly well by targeting games with significantly high over/under lines (such as +7.5 lines).

High-scoring games can also favor betting underdogs, which may unlock high-value moneylines and point spreads, too. Much will depend on your individual match analysis, while combination betting and parlays may also prove valuable in some instances.

NFL Betting Strategy

We’ve already touched on how NFL bettors can access weekly rankings based on how they’ve performed in relation to covering the spread set by bookies. So, point spread betting can be particularly effective in the NFL, as you can use past performances to identify the best value spreads and set optimal stake amounts. The top NFL betting sites should offer up-to-date lines, but always shopping around is important.

This also helps to create value when betting on NFL matches. Often, matches are incredibly competitive and difficult to call, while bookmakers are known to boast a 50.3% when covering the spread.

NHL Betting Strategy

Home-field advantage is a key consideration in any sports betting strategy, but this varies from one sport to another. Interestingly, just 59% of NHL matches are won by the home side, which highlights the competitive nature of the league and how open, free-scoring games can lead to surprise results.

This makes the practice of hedging bets particularly effective in the NHL. This way, you can strategically deploy free bet offers and cover all potential match outcomes at the same odds, enabling you to bank nominal (and, most importantly, guaranteed) profits throughout a season.

Soccer Betting Strategy

On the subject of home-field advantage, it’s soccer teams that are most likely to win in front of their own fans. This trend is particularly prevalent in the MLS, where a staggering 69.1% of all games are won by the home team.

So, you should definitely factor this into your weekly picks while paying close attention to the respective home and away forms of competing teams. Where appropriate, you can also execute point spread bets to handicap betting favorites and unlock enhanced odds, but this option should only be used sparingly.

Golf Betting Strategy

Golf is quite a unique sport from a betting perspective, but there are a couple of wagering strategies that you can use to achieve a competitive edge.

Firstly, aim to study specific courses and the past performances of players at selected venues. Some tracks favor big-hitting and driving players, for example, whereas others tend to encounter challenging weather conditions and suit artful professionals or those with a more rounded skillset.

Secondly, leverage the value in futures odds by betting early and spreading your stake across several potential winners. Just be sure to deploy your stake in a way that guarantees at least some level of profit while tailoring your betting units to suit the odds of each particular outcome.

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Responsible Sports Betting

As you can see, no single sports betting strategy guarantees long-term success. Also, no strategy or system can completely negate the unpredictable nature of sports events and matches, so you’ll always incur the risk of loss as a bettor. Responsible gambling is imperative to a fun and exciting sports betting experience.

This is why disciplined bankroll management is a key facet of successful sports betting strategies. After all, it caps the amount that you wager at an amount you can afford to lose over a specified period of time, while you can also use each sportsbook’s daily, weekly, and monthly deposit limits to manage this practically.

However, if you find yourself betting outside of your means or chasing losses, your first call should be to contact the National Problem Gambling Helpline. You can call them directly at 1-800-GAMBLER or visit their official website to learn more about their purpose and how they can help you overcome your compulsion.

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