New gambling record: Betting on outcome of Brexit vote

Angel S. Elliott

Angel S. Elliott

You can still learn a lot on how to win at sports betting. You can learn from experienced sports bettors or find great online resources that will guide you in making money through sports betting.
Angel S. Elliott

vote as of Wednesday and expects a final amount of 50 million pounds. That surpasses the 40 million pounds placed on the 2012 U.S. He intends to vote to leave the E.U., but has placed bets on “remain” to at least get something in case of his side’s defeat.. Polls suggest it is too close to call, while bookies give the “remain” side a higher chance of winning.

Thursday’s vote on whether to leave the European Union, which will have lasting consequences for the country and Europe, is due to break the record as the most bet-upon political event in Britain’s history. “But my big win is to leave the E.U.”

Betting on political events used to be a niche area in the gambling industry but has become more widespread, particularly in Britain. The industry is expecting 100 million pounds, or nearly $150 million, to be wagered by the time the result is known in the early hours of Friday.

The betting has also gained the attention of global investors as a gauge of the likelihood of an event’s outcome. But the importance, drama and uncertainty that have surrounded this vote have made it a spectator sport in its own right. presidential race, which was its previous record for a political event.

For Stephen Jones, 55, betting is a form of insurance against disappointment. This material may not be published, broadcast, rewritten, or redistributed. referendum betting already hit a record for a political event days ago for Betfair, bookmaker BetFred and IG, the largest provider of spread betting services.

“If we are going to remain in the E.U., at least I will take compensation,” said Jones, who expects to get 3,000 pounds back in profit in such an event. That’s particularly true since pollsters have missed badly in measuring sentiment before some of Britain’s most recent votes, the last general election and the Scottish referendum.

“This is comfortably the biggest political betting event in history and dwarves both the general election and the Scottish referendum,” says Lewis Davey, spokesman for Paddy Power, referring to the Scottish vote on independence last year.

Betting is his way to get in on the drama because as a foreign citizen from China he will not have a right to vote. It has become increasingly popular, particularly to bet on financial markets.

Betfair, bookmakers Ladbrokes and Paddy Power and the Betting Research Unit at Nottingham Business School all estimate that the total value of bets on the vote placed in Britain will reach, and likely exceed, 100 million pounds.

The bookies’ odds have largely been in synch with global financial markets. Spread betting, on the other hand, does not provide a simple win or lose outcome, but can provide payoffs based on the accuracy of the bet. Such betting fever is normally associated with major sports events, with people here habitually placing wagers online or in betting shops on everything from horse races to football matches. That’s reflected in financial markets, where stocks and the British pound are relatively buoyant one day before the big event.

© 2016 The Associated Press. Ladbrokes has seen a tenfold increase in recent years.

LONDON — As if the stakes were not high enough in Britain’s nail-biting vote this week, people are betting record amounts of money on its outcome.

Betting exchange Betfair says it had taken 45.8 million pounds in wagers on the E.U. While the polls show this week’s vote is too close to call, bookies like Betfair are giving the “remain” side a 76 percent probability of winning. All Rights Reserved. He was back in the betting shop this week to place additional wagers on behalf of three American friends.

“This is a historical event, and I want to take part in it,” said Can Zhao, an investment researcher who last week placed a 135-pound ($198) bet on “remain” at a Ladbrokes betting parlor near London’s Kings Cross train station.

E.U. The referendum also outmatches the 35 million pounds placed on the 2014 World Cup Final.

Betfair allows people to place wagers against each other rather than setting odds like the traditional bookmakers Read More

How the Sports Betting Line is Made by RJ Bell

Angel S. Elliott

Angel S. Elliott

You can still learn a lot on how to win at sports betting. You can learn from experienced sports bettors or find great online resources that will guide you in making money through sports betting.
Angel S. Elliott

In doing so they attempt to make more attractive the team that is getting less action. Also, adjustments are made after reading each team’s local newspapers to get a sense of what the coaches & players are thinking going into the game.

Contributed by:

Individual books having players who consistently bet with certain tendencies (such as an extreme bias toward favorites or toward a certain popular team like USC)

The last step in the line-making process for each oddsmaker is taking one final look to determine whether or not the line “feels right.” This is where common sense and past experience with how games are bet enters into the picture.

RJ Bell

©Pregame.com 2006

Website: http://www.Pregame.com

Las Vegas Sports Consultants (LVSC) is the world’s premier oddsmaking company and the most respected authority on making the lines.

A round-table discussion among the 4-5 oddsmakers involved in making the line for each sport is then conducted and a consensus line is decided upon by the Odds Director before it is released to the sportsbooks. That is not the case at all – their intent is NOT to evenly split the ATS result between the teams; rather, their goal is to attract equal betting action on both sides. Stated another way, they want to create a line that half the people find appealing to bet one way while the other half find it appealing to bet the other way (known as ‘dividing the action’). Of course there is an entire method to the madness on how the opening line is created.

Once the opening line is released by LVSC, the individual sportsbooks decide if they want to make any adjustments before offering it to the public. Reasons for such adjustments include:

Why the Line Changes

Once betting begins, sportsbooks can adjust the line at any time. Of the 4-5 oddsmakers, generally the 2 most respected opinions are weighed more heavily by the Odds Director before he decides on the final line.

Experts working for the individual books having a strong opinion on the game

The opening line is the first line created by the oddsmakers, which is then sent out to sportsbooks. In our extended interview, Seba explained that there are 4-5 oddsmakers assigned to make lines for each of the major sports (pro & college football and basketball; MLB, NHL, boxing, golf). If an oddsmaker comes up with a preliminary line of USC -7, then an adjustment up to -7.5 or -8 would be made in response to the public’s expected USC bias.

“The main objective is that our clients get equal action on both sides,” Seba said. Each of these oddsmakers bring unique opinions, strengths and weaknesses to the process.

How the Opening Line Is Made

Once a game’s power rating based pointspread is determined, the oddsmaker will make adjustments to that line after considering each team’s most recent games played and previous games played against that opponent. “We’re not trying to pick the team that covers the spread, we’re trying to make it a coin flip, a tough decision (for the bettor). Mike Seba is a Senior Oddsmaker at LVSC and has been making lines for the last six years. By necessity their approach is very research-oriented and concise, since with millions of dollars at risk there is little margin for error. Seba explained that it all starts with each oddsmaker creating a line on each game based upon their own personal approach.

Oddsmakers can also change the line depending on various event-related factors such as player injuries or weather.

The purpose of these adjustments, like all line adjustments, is to more equally divide the betting action.

“The #1 thing for us is to make a line for each game that creates good two-way action.

For example, if the pointspread on a game is 7 and most of the money is coming in on the underdog (taking the +7), sportsbooks will then move the number down to 6 ½ to try and attract money on the favorite. . For example, the public might have heavy betting interest week after week on a popular college football team such as USC.

Divided action means the sportsbook is guaranteed a profit on the game because of the fee charged to the bettor (called juice or vig – typically $11 bet to win $10). If we’ve done that, we’ve done our job.”

“You either have a passion for it or you don’t,” Seba said. Obviously, if the line comes out a week ahead of the event (which is the case in football), there is much that could happen during the week leading up to the event that could affect the line. Moving the line is the oddsmaker’s effort to balance betting action, and often times such moves can have a major impact on a bettor’s decision. This usually includes having up-to-date power ratings on each team. By moving the line, sportsbooks can influence how the public bets on a particular game. Examples of non-game factors that would require an adjustment to a team’s power rating are key player injuries and player trades. People think it’s much more complicated, but it’s not.”

Power ratings are the oddsmaker’s value of each team and are used as a guide to calculate a “preliminary” pointspread on an upcoming game.

Oddsmakers at LVSC are professional sports junkies who love what they do and would probably do it for nothing if you asked them, but they do get paid for it. The power ratings are adjusted after each game a team plays. We do this by drawing from past experiences and applying them to current situations. Oddsmakers have to determine if any changes are necessary and send out an “adjusted line.”

What Is the Line Trying to Accomplish?

Since the oddsmaker’s ultimate goal is equally dividing the betting action, public perception and betting patterns must Read More

Sky Bet | Online Sports Betting & Odds

Angel S. Elliott

Angel S. Elliott

You can still learn a lot on how to win at sports betting. You can learn from experienced sports bettors or find great online resources that will guide you in making money through sports betting.
Angel S. Elliott

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