ClueBot NG Report Interface

// Viewing 3295506

Navigation

ID: 3295506
User: 80.250.62.162
Article: Sports betting
Diff:
Content deleted Content added
LoloLV (talk | contribs)
→‎Positions of American professional sports leagues: added a shift in position by the NBA and MLB
No edit summary
Line 49: Line 49:
== Bookmaking ==
== Bookmaking ==
{{Main article|Bookmaker}}
{{Main article|Bookmaker}}
The bookmaker functions as a market maker for sports wagers, most of which have a binary outcome: a team either wins or loses. The bookmaker accepts both wagers, and maintains a spread (the vigorish) which will ensure a profit regardless of the outcome of the wager. The [[Federal Wire Act]] of 1961 was an attempt by the US government to prevent illegal bookmaking.<ref>{{cite web|url=http://uscode.house.gov/view.xhtml?path=/prelim@title18/part1/chapter50&edition=prelim|title=18 USC Ch. 50: GAMBLING|work=house.gov}}</ref> However, this Act does not apply to other types of [[online gambling]].<ref>[http://www.caselaw.lp.findlaw.com/data2/circs/5th/0130389p.pdf Fifth Circuit ruling – PDF file]</ref> The [[Supreme Court of the United States|Supreme Court]] has not ruled on the meaning of the Federal Wire Act as it pertains to [[online gambling]].
The bookmaker functions as a market maker for sports wagers, most of which have a binary outcome: a team either wins or loses. The bookmaker accepts both wagers, and maintains a spread (the vigorish) which will ensure a profit regardless of the outcome of the wager. The [[Federal Wire Act]] of 1961 was an attempt by the US government to prevent illegal bookmaking.<ref>{{cite web|url=http://uscode.house.gov/view.xhtml?path=/prelim@title18/part1/chapter50&edition=prelim|title=18 USC Ch. 50: GAMBLING|work=house.gov}}</ref> However, this Act does not apply to other types of [[online gambling]].<ref>[https://bitcoincasino888.com/wp-content/uploads/2018/02/0130389p.pdf Fifth Circuit ruling – PDF file]</ref> The [[Supreme Court of the United States|Supreme Court]] has not ruled on the meaning of the Federal Wire Act as it pertains to [[online gambling]].


Bookmakers usually hold an 11-10 advantage over their customers—for small wagers it is closer to a 6-5 advantage—so the bookmaker will most likely survive over the long term. Successful bookmakers must be able to withstand a large short term loss. (Boyd, 1981)
Bookmakers usually hold an 11-10 advantage over their customers—for small wagers it is closer to a 6-5 advantage—so the bookmaker will most likely survive over the long term. Successful bookmakers must be able to withstand a large short term loss. (Boyd, 1981)
Reason: ANN scored at 1
Reporter Information
Reporter: EdgarsEizvertins (anonymous)
Date: Tuesday, the 7th of July 2020 at 01:15:39 PM
Status: Reviewed - Not included in dataset
Friday, the 23rd of February 2018 at 03:08:55 AM #110677
EdgarsEizvertins (anonymous)

link lost, I indicated an active link that works and contains the original material

Friday, the 23rd of February 2018 at 03:09:17 AM #110678
EdgarsEizvertins (anonymous)

link lost, I indicated an active link that works and contains the original material