The Business Of Sports Betting

How do sportsbooks make their lines? Which types of bets are the best? Can you beat the house? The Logic Of Sports Betting answers all these questions and more with a dash of humor and a whole lot of real talk about how it all works. Peek behind the counter and learn how sportsbooks operate. Combine that insider knowledge with why-didn't-I-think-of-that sports betting logic, and you have the winning formula. Ed Miller is a best-selling (over 300,000 copies sold) author of books on poker and gambling. This is his first book on sports betting, but maybe his favorite book to write so far. Matthew Davidow is a sports modeler, using proprietary methods to beat major sports betting markets for over 15 years, and co-founding two leading private sports analytics firms along the way. What people are saying about The Logic Of Sports Betting "Matt and Ed are two of the smartest minds in sports betting." - Rufus Peabody, professional sports bettor "As a sportsbook employee for 30-plus years, I find it difficult to read or watch anything about sports betting. But I could not put The Logic Of Sports Betting down. It's that good." - Robert Walker, Las Vegas bookmaker

With the repeal of the Professional and Amateur Sports Protection Act in 2018, regulated sports betting has exploded in the United States, with more than half the states adopting legalized sports betting and many more poised for business. As a result, career opportunities with sportsbook operators and venues; sport leagues, teams, and sponsors; and gaming regulatory agencies abound for today’s students. The arrival of The Business of Sports Betting introduces the first dedicated text—written by a team of academic faculty and internationally recognized experts in the field—covering every aspect of the sports betting industry. It begins with a historical overview of sports betting and key legislation that has led to legalized betting today. Included are the various types of wagers available to bettors, the sports in which betting can take place, and the industry’s major stakeholders. Next, readers will examine the multiple layers of sports betting regulations in the United States and the interplay between federal laws, state authorization, and tribal governance. Regulatory frameworks in the United States, United Kingdom, and Canada are covered, as well as compliance focal points addressing anti–money laundering regulations, placement of wagers, and the Bank Secrecy Act. The book then warns of the negative aspects of the business, such as illegal sports betting, gambling scandals, and match fixing; the risks associated with illegal betting; and harm from problem gambling. To combat these risks, guidelines are presented for protecting against illegal gambling, minimizing potential harms, and ensuring integrity in sports betting. Next, students learn the how-tos of establishing, operating, and marketing a sportsbook. Traditional brick-and-mortar sportsbooks are discussed in detail, including the many facility management considerations that come with operating and maintaining a physical venue. Students also learn about the various mobile sportsbooks available today (including websites, kiosks, and phone apps), how they operate, and their connection to and interaction with physical sportsbooks. In addition, the authors present marketing and advertising strategies for acquiring customers and forging relationships with teams, leagues, and sportsbooks. Special attention is given to the American Gaming Association’s Responsible Marketing Code for Sports Wagering and its compliance considerations for sportsbook operators. Sports wagering is a data-driven business, and students will see how data are generated and transmitted to sportsbook operators. Managing and protecting that data is paramount to competitive advantage, and students will learn about intellectual property protections granted to sportsbook operators. Additionally, the book discusses the proliferation and potential positive and negative impacts of gamification and virtual currencies in sports betting. Chapters are punctuated with supplemental sidebars and case studies providing real-life examples of the positive and negative impacts of sports betting. The Business of Sports Betting offers a comprehensive introduction to the nuances of the sports betting industry, including the key players, regulatory environment, marketing and technology drivers, and business operations of a sportsbook.

This unique book delves into a number of intriguing issues and addresses several pertinent questions including, should gambling markets be privatized? Is the ‘hot hand’ hypothesis real or a myth? Are the ‘many’ smarter than the ‘few’ in estimating betting odds? How are prices set in fixed odds betting markets? The book also explores the informational efficiency of betting markets and the prevalence of corruption and illegal betting in sports.

Gambling is a significant global industry, which is worth around 0.6% of world trade, that is, around US$ 384 billion; and gambling on the outcome of sports events is a very popular pastime for millions of people around the world, who combine a bet with watching and enjoying their favourite sports. But, like any other human activity, sports betting is open to corruption and improper influence from unscrupulous sports persons, bookmakers and others. Sports betting in the last ten years or so has developed and changed quite fundamentally with the advent of modern technology – not least the omnipresence of the Internet and the rise of on-line sports betting. This book covers the law and policy on sports betting in more than forty countries around the world whose economic and social development, history and culture are quite different. Several chapters deal with the United States of America. This book also includes a review of sports betting under European Union (EU) Law. The book appears in the ASSER International Sports Law Series, under the editorship of Dr. Robert Siekmann, Dr. Janwillem Soek and Marco van der Harst LL.M.

The sports gambling book you can bet on Sports betting combines America's national pastime (sports) with its national passion (gambling). In the U.S., more than a third of the population bets on at least one sporting event every year. With the recent lifting of the federal ban on sports gambling, states are pushing legislation to take advantage of the new potential source of revenue. The best sports betting books are data driven, statistically honest, and offer ways to take action. Sports Betting For Dummies will cover the basics, as well as delving into more nuanced topics. You’ll find all the need-to-know information on types of bets, statistics, handicapping fundamentals, and more. Betting on football, basketball, baseball, and other sports Betting on special events, such as the Superbowl or the Olympics Money management Betting on the internet With handy tips, tricks, and tools, Sports Betting For Dummies shows you how to place the right bet at the right time—to get the right payoff.

“Rob Miech has outdone himself with this poignant, behind-the-curtains revelation of a world of parlays and money-line wagers, of mob-ruled games, and characters named Lem and Lefty. The brilliant storyteller weaves insight from some of the world’s most prominent names in sports betting into a historic, entertaining, and informative journey.” —Ed Graney, six-time Nevada sportswriter of the year for the Las Vegas Review-Journal The legalization of sports wagering has increased the pot exponentially. But navigating the new systems can be tricky. If you’re a newcomer ready to bet on sports as an occasional pastime, veteran sports writer and Las Vegas insider Rob Miech delivers a vital primer on terminology, options, and procedures. If you’re already taking advantage of the sports betting world as a money-spinning career, he shares the latest approaches and all-new game-changing techniques by tapping the skills, secrets of success, and cautionary counsel of players on both sides of the counter. With behind-the-scenes stories and no-holds-barred interviews with the legendary masters of betting, Sports Betting for Winners shows how, with the right information and a sprinkling of luck, you can capitalize on the numbers behind the numbers and take the bettor’s game to the next level. “Miech gives us the skinny on a billion-dollar business.I'll lay you 9-to-5 you'll feel richer for reading Sports Betting for Winners.” —Mike Downey, award-winning sports columnist, Chicago Tribune and Los Angeles Times “A book on sports betting for everyone—entertaining, informative, anecdote-filled.” —Steve Rushin, author of Sting-Ray Afternoons and Nights in White Castle

A study of gambling, particularly sports gambling, and how it has thrived in American culture. According to Davies and Abram, the culture of betting results from two complementary influences in American society: risk-taking and speculation. This is the first effort by academic writers to describe and interpret the history of sports wagering in the United States. Although many books have been written about 3how to bet and win, 4 Betting the Line presents a serious history of this popular activity in Colonial and Civil War eras to today, from early betting on horse racing and baseball to the modern venues of basketball and football. By considering topics as diverse as the business of a bookie, the expansion of legalized gambling, and the increase in popularity of televised sports, the authors offer readers an insightful look into a practice that has become commonplace in American popular culture. In a mere seventy years, the number of states where gambling is legal jumped from one to forty-eight. Yet Nevada remains the only state where sports betting is legal. This book challenges many long-standing myths and stereotypes that revolve around the enterprise, arguing that sports gambling is reflective of the American free enterprise culture.