THE BASICS OF WAGERING ON PROFESSIONAL SPORTS by THE OUTLAW MICHEAL TOMSIK


THE BASICS OF WAGERING ON PROFESSIONAL SPORTS by THE OUTLAW MICHEAL TOMSIK.


Lets first discuss my history in the world of SPORTS BETTING. I started working for a company called LEROY'S SPORTS BOOKS way back in the 90's. At the time this sports book was one of the largest Sports Books in Nevada. It had over 48 locations across Nevada including Las Vegas and Reno Nevada. I started and was trained as a ticket writer but through the years in the company I was educated by some of the best odds makers in the world how to set lines on games.

I worked for this company for several years until it was bought out by another large company called WILLIAM HILL SPORTS BOOKS. However I moved over to a company called the MGM and worked in the Sports Book up until 2017 when they also got bought out by William Hill Sports Book.

I also did a short time at the ATLANTIS CASINO in Reno Nevada helping with that Sports Book up to December 2019.

During this time in Nevada a law was passed that you could operate a SPORTS INVESTMENT COMPANY and I decided in 2015 I would attempt my hand at operating my own Sports betting Company. I wrote 2 books above on my whole experience and how I did it and what happened to it in the end. I ended up selling the company to a Casino in Las Vegas Nevada in 2019.

During the time of operation the company wagered over 22 million dollars, and won a little over 2,2 million dollars. At the sale of the company all the company accounts closed or got transferred to the casino in Vegas. Also as part of the agreement I could not reopen another Investment Company for 1 year. 

Many people have asked me about the company and money from the company it was an investment company the investors got the investment back plus profits made from the company I only charged a fee for the service. I offered the same fee the sports book offer and that was 10%.

So that is my history from 2002 to 2019 in Wagering Sports. From 2020 to presently I have not been wagering sports because I moved to Missouri and Sports Betting was not legal here up until recently.

BASICS OF WAGERING ON SPORTS:

The majority of sports wagered on are the following sports:

NFL (National Football League), NBA ( National Basketball Association), COLLEGE FOOTBALL or BASKETBALL, NHL ( National Hockey League), MLB ( Major League Baseball), MMA, Boxing, Nascar, and the Olympics.

Sports Books developed a way to offer wagering through what is known as MONEY LINES, POINT SPREADS, or TOTALS. 

Today sports books offer live wagering and offer way more ways to WAGER on a game but today I am only discussing the BASICS.

Money Lines are used in all the sports above, but Point Spreads are only used in football and basketball.

MONEY LINES: 

So a money line is posted for almost all wagers. There is a Negative number and a Positive number. The Negative number is usually considered the favorite and the Positive number is usually considered the underdog;

EXAMPLE:

Team A   -105

Team B  +125

The Minus number means you must put up the money to make the money meaning you must WAGER $1.05 to make $1.00. The positive number works the opposite meaning for every dollar you WAGER $1 you will make $1.25.

When wagering sports you get the winning amount and your WAGER back if you win the WAGER.

POINT SPREADS:

Sports books soon found a way to even the odds and make more wagers by offering a POINT SPREAD. Point Spreads are only used in Football, and Basketball however. So a Point Spread is a number that the sports books make on a game to add or subtract points for a team. It works the same way as a Money Line as the Negative number is the favorite, and the Positive number is the underdog. The difference is the favorite team must cover that Point Spread to Win the Wager, if they do not the Underdog wins the Wager.

EXAMPLE:

Team A   -7

Team B  +7

So in this case team A must win by more than 8 points, if it lands on the number it is called a PUSH. Recently sports books added money lines to the point Spread.

EXAMPLE:

Team A   -7 -105

Team B  +7 +125

TOTALS

Sports books often post a wager on the total points for the entire game from both teams. You can choose to WAGER the game will go under the posted points or wager it will go over. Sometimes Sports books also add money lines to the Over/Under as well.

EXAMPLE:

Team A  -7      Total: 35    Over     -105

Team B +7                       Under   +125

However my example is off a bit the total would be posted more in the middle and it will not have the Over/Under posted. I also showed a Money Line in the example however if No Money Line is posted the normal wager is usually -110. 

THESE ARE THE BASIC WAYS TO WAGER ON SPORTS.

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