How Does Online Sports Betting Work?

Online sports betting have become very popular throughout the world. People can bet on a variety of different sports events through an online betting site. To get a better idea of what makes online sports betting so popular it helps to know how it works. It deals with not only getting a bet placed but also with signing up for betting services.

What happens first is that a customer will sign up for services from an online sporting betting site. The person will need to send one’s information and fund an account with money from a credit or debit card. After the information goes through and the person’s account is funded that customer can begin betting on sports online.

After a period of time the member could end up earning money as a result of successful bets. That member will generally be able to request a check for the money that the person is asking for. Commissions are generally required but these commissions are usually less than ten percent of the value that the customer is asking for in many cases.

When looking into joining an online sports betting site it will help to look into the regulations that are involved. Many websites will receive registration through small countries to work to offer online betting services. These include countries like Costa Rica. This is important because a website will need to be fully licensed by an international government that supports online betting in order for it to work properly. The business will also be subject to regular government checks to make sure that all betting services are fairly supported.

While betting online customers can bet on a variety of different sports events. These events include football events, boxing matches, horse races and even golf events. People can even bet on events with spreads, which deal with how much of a margin of victory that a team will receive, and even over/under events that deal with how many points or other things will happen in certain events. The bettor will then place a certain monetary amount on the bet that is being made.

After the event takes place the sportsbook will take out the money that the customer lost or deposit money that the customer won. This generally takes place not long after the event that was bet on is finished.

Online sports betting are a unique thing to check out. This is a form of entertainment and gaming where a customer will sign up for services, fund an account and bet on various different sports events. It will be important when getting registered for one of these online sports betting sites to look into the regulations that are involved.

Important Steps to Follow in Hiring a Casino Party Company For Your Next Casino Fundraiser

7 important casino fundraiser steps and pitfalls to understand when planning your next casino fundraiser.

Having been in the casino party and planning business for many years I have heard from customers some very sad stories of what occurred at their casino fundraiser and I would like to pass to you the 7 steps you must follow to ensure you have a successful casino fundraiser and hire the BEST casino party company for your event.

Step 1. The planning committee. This is the most important step in your planning and you must assign a person to each of the specific tasks that must be accomplished for your event, which include the Law and getting the appropriate licenses, finding the location and catering for the event, getting sponsors to help with the costs, getting gifts donated, finding the correct casino company, and who will be handling the money. It is impossible for one person to handle all of the above items. The only successful way is to have one person responsible for each item, leave them alone to perform the task, but having them report their progress every so often to the person assigned in charge for the event. You will need plenty of time to accomplish all the tasks I a good time frame to start is 4-6 months before the event date.

Step 2. The Law and obtaining your fundraiser license and township permission. Always remember that gambling is illegal, and having casino games at your fundraiser is gambling. This is important because a casino fundraiser is not the same as holding a car wash to raise funds. Because gambling is illegal there are state authorities in charge of stopping illegal gambling which means your casino fundraiser will fall under an exception to the gambling laws. Let’s take New Jersey as an example. The state agency ABC (Alcoholic Beverage Control)is responsible to find and prevent illegal gambling, unfortunately their own handbook does not say illegal gambling, or exceptions to the gambling laws, it only says gambling, and there has been an occasion where one of their investigators attempted to stop a casino fundraiser claiming it was gambling. The situation was resolved before the event date because of the second point I want you to remember. Even though your casino fundraiser is gambling and gambling is illegal, you fall under an exception to the gambling laws by state statute. In New Jersey the state legislature created a statute to allow casino gambling and created the Casino Control Commission to oversee the activity, they also created a statute to allow casino fundraisers and created the legalized Games of Chance Control Commission to oversee casino fundraisers. The point I want you take from all this would be to make your casino fundraiser legal, you must understand the law and get the proper licenses and township permission for the event. Just because you are a 501(c)3 non profit organization and used to having a car wash to raise funds doesn’t mean you can have a casino fundraiser simply because it sounds like a good idea. So at this point you should understand it is a good idea to call your states Office of the Attorney General to find out the laws in your state to have a casino fundraiser.

Step 3. The Best casino company. The licensing requirements needed for you state may also require the casino company to be licensed. There have been occasions in New Jersey where a non profit organization called a casino party company and neither of the parties knew the laws resulting in the event being stopped and fines. Each state is different and in New Jersey the casino company and all the dealers must have a casino fundraiser license. So the important point here is to first learn the requirement on your own by calling the state authorities, then you start calling the casino companies and ask them what is required to have a casino fundraiser. A good casino party company will ask you if you have your license and be able to email you the forms needed to obtain the license. They should guide you through all aspects to obtaining your license and getting the township permission. If they do not assist you or explain the rules then they may not understand them and that could be a disaster waiting to happen.

Step 4. Who is really doing your event? Understand there are casino party companies who advertise locally and some who do it nationally. In my experience the local companies are the best for you because the national companies may not know the laws for you state. Even worse is the national companies will not be doing your event. What they do is call the local companies, get a quote from them and add hundreds of dollars to the bill just for answering your phone call, and the local company is who will be doing your event and they will have given you a quote that is less than the national company. As you look at each company you will see some that have photographs of movie stars and people having fun in a casino on the front page of their website. Forget all that material designed to attract you because it is not important. When you receive price quotes from the casino party companies you may get 3 or 4 that are in the same general range and 1 or 2 that are much higher than the others. Let’s give an example and say you received quotes for $1000, $1100, $1200 and $2000. It doesn’t make any sense that 3 quotes were in the same range and one quote was much higher and that is because the very high quote is from a national company who will not do your event because they are going to call the local company who gave you the lower quote in the first place, then add the extra money to the bill.

Step 5. The casino tables. There is a general rule to follow which is you want approximately 70 percent of you guests to be able to play. You can modify this rule, but I would not go below 50 percent able to play. The casino company should advise you on this. They should also stay in constant contact with you in the week leading up to the event to revise the tables if needed. Let’s assume your event was 300 guests, but in the last week you realize only 200 will show up. A reputable casino company will suggest you reduce the number of tables. A poor casino company will want you to stay with the original suggestion because they will make more money. Simply stated, the BEST casino party company would rather you have the correct number of tables and not too many or too few, and they should not put their profit above your fundraising needs. Now let’s discuss the casino tables that will be used for your event. This is my opinion as a licensed dealer, but the best casino companies have new equipment which does not have folding metal legs and/or use skirting under the table to hide the metal legs. Ask yourself why a real casino doesn’t use metal folding legs on their tables. A craps or roulette table is very heavy with up to 14 people all leaning and shifting their weight on the table. Maybe that’s the reason you shouldn’t have metal folding legs on the table because you do not want to take the chance the table collapses. I will never deal craps or roulette on a table that has metal folding legs. The point I want you remember here is that you should have the casino party company put in writing that they will be the company doing your event and will not subcontract to another company. You should also require the casino company to provide photographs of the actual tables they will use at the event. It is fine if they can show you the tables on their website, but I would ask myself why a casino company does not have photographs of the tables on the website. Do not accept the company having a photo showing the top of the tables with people having fun because that does not show the legs of the table which I consider the most important part.

Step 6. Cost from the Casino company and suggestions. The casino party company should be making suggestions on the proper casino tables and the number of each table to have for your event. They will follow the general rule of 70 percent of your guests being able to play, but they should also be in constant contact with you leading up to the event and be willing to reduce or add tables if needed. Remember the casino company is there to help you but also want to make money. A great casino company will advise you if needed to reduce the number of tables originally suggested based on the number of guests, allowing them to be a great help to you and still make a profit. The Poor casino companies will want you to stay with the original plan because they will make more money. The point here is that if you have too few tables then your guests can’t play meaning they can’t donate money to the event, and if you have too many tables they will not be used and you are spending more money than you should, and you could run the risk of losing money for the charity because of it. The last point I want you to remember is some casino party companies that do fundraising want a percentage of your profits. Never hire a company that wants a percentage of the profits because that is your money. Look at the casino company as you would a caterer or DJ. They are being paid for their service a flat fee and not a penny more.

Step 7. Who is going to handle the money. There is a cardinal rule in casino fundraiser that you never allow the casino company to touch the money. Keep in mind there could be thousands of dollars out there and you want to remove all temptations and possible accusations. A great casino company will advise you how to set up a “bank” and how only your representatives will touch the money. There are certain aspects of the evening where the casino company pit boss will do things to help encourage additional donations by making chip specials to your guests if they donate more money at each table, but this should only be done one table at a time with one of your representatives standing next to them.

I hope the discussion will help guide you to having a successful casino fundraiser. If you ever have a questions you may always email me at [email protected] or visit my companies website www.cardsordice.com and I will get back to you and answer your questions because I want to ensure you hire the BEST casino party company and make a lot of money for your charity.

‘Middling’ the Pointspread in Sports Betting

What is ‘middling’ and why bother with it? Middling is where you can seriously increase your bet winnings by profiting from both sides of the action.

You can do this by carefully monitoring the movement of the line and finding a situation where betting both sides becomes advantageous. The down side would be a small loss due to the vig / juice (sportsbook commission).

You can use this betting strategy in any sports where you have a pointspread, so NFL, NBA, NHL, MLB and college sports. As an example lets take a basketball match-up between the Lakers and the Cavaliers. We’ll keep things simple and for arguments sake say that the spread for the first posted line reads: Lakers -3, Cavaliers + 3.

The smart bettor evaluates this spread and determines that the Lakers are good value and so bets the Lakers at -3 on the pointspread.

A day or two later the bookmaker decides that he is taking a lot of action on the ever-popular Lakers, so in an attempt to even things up, he decides to move the spread to Lakers -4.5 and by default the Cavaliers to +4.5. The linesmaker fundamentally wants to attract more action on the Cavaliers and slow down the amount of action he is receiving on the Lakers.

The odds remain at this level and the smart bettor decides to go in again and bet the Cavs at +4.5. What does he hope to achieve by this? He is looking to middle the spread.

If the Lakers go on to win by 4 points he wins his Laker bet at -3 and wins his Cavalier bet at +4.5. Say he wagered $110 on both bets at the standard odds of -110, he makes $200. If he loses, he loses on one bet for -$110 and wins on the other for +$100, and so only loses $10.

Now of course the bettor won’t be hitting his middles in every game or even every fifth game but all he needs to do to break even is to hit his middles once in twenty-one games. So if his total loss after twenty games is $200 (20x$10) and he hits his middle on game twenty-one, he will win $200.

In all likelihood the smart player will be hitting his middles far more often than once in every twenty-one games. He’s getting terrific value and reducing his down side dramatically – the reason for betting middles in the first place. If the bettor does not worry about his downside, he may simply choose to stick with his original bet, in this case the Lakers at -3, knowing that he has a great bet with the spread having moved to -4.5.

It gets better for ‘middlers’ in terms of their downside because they can still make a profit even if they don’t hit their middles. Quite often they will ‘push’ (draw/break even) on one bet and win on the other. So if the Lakers win by 3 points, the bettor would push that bet at -3 and get his stake returned for no loss – but he will win on the Cavaliers’ bet at +4.5 making a profit of $100.

Remember that the better the line movement the more chance there is of hitting a ‘middle’.

Revenue Share, CPA, CPL Hybrid – Which is the Real Winner?

A question almost as ancient as affiliate promotion themselves – what is the best commission structure and why?

For years affiliates, affiliate managers and gambling sites have been debating what the best affiliate commission structure is – and the answer is – there isn’t one. No matter how many people try and persuade you to take up one – the truth is that they all depend on the program and the genre.

For example – take Casinos. Many casino affiliate programs will pay you a revenue share between 25-40% of Net Revenue or offer you a cut based on turnover, and this is always a good option – but there are many affiliates out there who want cash now and will turn to the CPA option. Now long-term affiliates will blast them for doing this, and 90% of all affiliates will prefer revenue share, but the truth is – that’s not always the best choice.

Two years ago, when the average casino players LTV (Lifetime Value) was higher – 40% of say £500 would net an affiliate £200 and prove a good investment, but as of 2010, in the midst of a credit crunch where the LTV of many players has dropped, that same 40% might be a poor investment if the LTV suddenly dropped to £250 (£100). Why choose revenue share then when you could get a single CPA payment of say £75 and not have to wait a year to get your revenue. Or when some casino programs will offer you as much as $300 a player – why even consider Revenue Share in this climate?

Now I’m sure that many people will be screaming back Hybrid – where you can take a cut of the long term revenue and get a smaller upfront payment – and truthfully this is a good option too – you get your money back for PPC marketing and site costs upfront – and have the benefit of a long-term investment, but there are only a handful of affiliate programs out there that will offer you a decent enough Hybrid to make it worth your while. A measly 20% and £10 would barely cover a few Clicks on PPC and you would actually be better off choosing CPA!

There is a hidden gem however – take CPL. On programs such as Prime Scratchcards or King Jackpot – you can elect to get paid per Lead. This maybe only £3 or so – but this means that for every Free Registration you bring to the site – you get paid whether they convert or not – and in a time of heavy bonus players and Free Money seekers – this isn’t a bad idea. Say you bring in 50 Leads and only 2 convert – most sites might pay you about £100 or £150 at best, but if you were getting paid £4 a lead you would pick up £200 and walk away a happy man.

Hybrid CPL and Revenue Share deals are also available – so feel free to ask your affiliate managers about this and see if you can get something like £3 + 20% where you get paid for your Free Registrations and a cut of all those who convert.

So what programme is right for what gambling genre:

Revenue Share: Ideally this is good for well-established Casino and Betting sites. It is well-known that a good casino/sportsbook can keep its’ players well beyond a 12month LifeTime cycle and can prove profitable in the long run. This is also good for skill games who have a niche market of well-valued players and for Poker sites who do not offer rakeback

CPA: Perfect for Bingo Sites, newly-established casinos and Poker sites offering Rake back. Why take the risk holding out for a lucky player when you can cash in and use the money to promote your site further.

Hybrid: For any program this is a benefit with the right percentages. Look for deals upwards of £15 and 15% and you could be making a good profit in no time. Better on newly-established gambling sites where the player retention schemes have not yet been tested

CPL: Great for all sites that offer No Deposit Bonuses. These are a magnet for bonus abusers or free-money players that will not earn you anything and generally leave your revenue share in the minus figures. Take a quick fee and get out while you can.

Book Summary: Safe Money Millionaire – Written by Brett Kitchen and Ethan Kap

Guaranteed retirement income is the name of the game. I think the financial industry has done their best to destroy trillions of dollars of wealth for a commission. I am fine with people getting paid for rendered services but there should be no fees in a loss market situation. We need to be thinking about preserving our capital as well as building it and NOT gambling our future away.

Why is this important to me?

I always want to ask this question as if I am sitting in your shoes. I don’t want to waste your time. How are you doing in your retirement? Have you made money in the last three years or are you still in a rebound from the 40% haircut that Wall Street provided in typical 401K plans?

The great housing burst was partially created by derivatives. Perhaps 100 people actually understand these instruments. Our economy was on the verge of collapse because traders needed to get their year end bonus. Selling financial instruments that can take down a banking institution with a simple 3% price movement is not the smartest way to go. Lehman Brothers, Bear Stearns and Merrill Lynch all proved this in 2008. Traders leveraged billions of dollars for millions in commission. I guess you need to go to Harvard or MIT to understand these trades but the math does not look to smart even to a 3rd grader.

Safe Money Millionaire is a good book that you need to read if you are interested in having a retirement. Rule #1 simply states don’t lose money and Rule #2 states – don’t forget Rule # 1. This book adheres to these rules.

Safe Money Millionaire is a quick read that covers several topics. For the sake of time, I will cover three key takeaways. The end goal is financial freedom and independence.

1. Breakup with Wall Street – If you invest strictly for Rates of Return then you are doomed. This is a one dimensional approach that does not work for the masses. Wall Street pitches investment advice 24×7. This is designed to attract sheep. Cramer from Mad Money recommended viewers purchase CIT Group because it was primed for an uptick. Four weeks later CIT filed for bankruptcy. This type of advice is seen all over the place. You are encouraged to buy Mutual Funds that have a high past performance. If you really think about this you are being encouraged to buy at a high price. To make money you need to buy low and sell high. Gambling is a sure way to financial ruin. You need to take your financial education into your own hands. You need to guarantee your principle and your rate of return. The key word here is guaranteed.

2. Pay Taxes on the Seed or the Crop – Farmers are allowed to either pay taxes on the seed or the crop. Which would you rather do? If you said pay on the seed then you are correct but this also blows your 401K logic out of the water. When you pay seed or basically invest in after tax dollars, you are locking in your future because you know exactly how much money you will receive back. If you decide to pay on the crop then it is not guaranteed how much you will pay because most likely the tax rate will be higher. To be a Safe Money Millionaire, you need to pay on the seed not the crop.

3. Financing Yourself to Wealth – This does not mean leverage yourself to the hilt with bank debt. Financing yourself to wealth means creating your own bank and then using your money efficiently to become wealthy. Why did Willie Sutton rob banks? Because that is where the money is. This strategy is one of the strongest I have seen and using the Infinite Banking Concept with a long term approach will absolutely secure your future.

Safe Money Millionaire is another book that highlights the Infinite Banking Concept and debunks traditional investment advice. In the book the authors quote Suze Orman. When asked what she invests in, she says: “I save it and build it in municipal bonds. I buy zero-coupon bonds and all the bonds I buy are triple-A-rated, and insured so even in the city goes under, I get my money.” When asked about playing the market, she says, “I have a million in the stock market, because if I lose it, I personally don’t care.” These statements are powerful because she invests in guarantee returns. The bond market is NOT the stock market.

I hope you have found this short summary useful. The key to any new idea is to work it into your daily routine until it becomes habit. Habits form in as little as 21 days. One thing you can take away from this book is Rule #1- Don’t Lose Money. Schedule 15 minutes each day to get educated on guaranteed investments like permanent life insurance, insured bonds and annuities to jump start your way to financial freedom. These require education on your part. When you do that and couple it with the Infinite Banking concept then not only will you be financial independent, you will become wealthy.