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Gambling News

Why Is Oregon The Only State Losing Money On Sports Betting?

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Few expected Oregon sports betting to wow the world with its lone online sportsbook.

The Scoreboard app, produced by Oregon Lottery and powered by SBTech, enjoys a mobile monopoly in the state. It launched in fall 2019 following months of delays. Plus, it prohibits wagering on college sports — not just in-state college sports but all college sports.

Yet the lottery maintained a rosy outlook, one that included a revenue projection of $6.3 million from sports betting in its first year.

That optimism has since taken quite a hit. According to a memo from lottery director Barry Pack to the Oregon Lottery Commissioners, after “examining contracts and reviewing expenses” since Scoreboard launched “and establishing revenue run-rates and based on actual results,” the lottery expects to suffer a loss of $5.3 million for the first nine months of the 2020 fiscal year.

Oregon Lottery analyzes sources of setbacks

During the lottery’s Board of Commissioners meeting near the end of February, Pack cited several reasons as to why Scoreboard has vastly underperformed.

For one, Pack noted that “a new sales channel and a new product” needs ample time to reach profitability. “So, there is no big surprise here that we aren’t at profitability at four months. We did a three-year forecast (in summer 2019) because we weren’t sure exactly where in that first three years we’d hit profitability.”

That forecast estimated a $6.3 million net profit in the first year of Scoreboard’s existence, a total that would increase to $13.9 million and $23.4 million over the next two years.

However, costs apparently became insurmountable for the Oregon Lottery: some $16 million in direct and indirect expenses. A bulk of that, Pack explained, could be attributed to start-up costs that “were higher than we anticipated.” Add in legal fees, “fairly significant” testing costs and higher-than-anticipated geolocation fees. Not to mention increased labor costs because of issues relating to the app’s launch.

Because of these costs, in essence, Scoreboard has operated out of a hole from the start.

The Scoreboard hold percentage

This is all without mentioning Scoreboard’s less-than-ideal take on bets placed. That margin, as Pack described, has drastically fallen short of expectations.

“We built that original forecast on an 8% margin and actuals for the first four months are more around 7 percent,” Pack said. “And that 1% actually makes a fairly significant difference in terms of profitability.”

Of the $66.2 million wagered via Scoreboard through January, the lottery netted $4.5 million in revenue, reflecting a less-than 7% hold. Further, the state has lost $2.3 million during that time.

Pack closed by emphasizing his dissatisfaction with the deficit and how he and his team are committed to keeping costs down and “finding creative ways to boost the margin” to help reverse the app’s fate.

Oregon sports betting has issues to address

Certainly, the Oregon Lottery faces myriad obstacles in its attempt to turn things around with the Scoreboard app.

Chief among them, however, are two issues that seem insurmountable but would assuredly get Scoreboard on the right track.

Monopoly sportsbook does not pay off

Of the 15 states with legalized sports betting, 10 offer mobile wagering in some form. Of those 14 states, only four are monopolized aka lottery-run: Oregon, New Hampshire, Rhode Island (all three of which have authorized online betting) and Delaware.

And of those 14 states, only one would end its first fiscal year in the red: Oregon.

While complete control of the market allows for Scoreboard to capture 100% of all legal online wagers made in Oregon, the positives essentially stop there.

Without competition, Scoreboard does not truly need to worry itself with friendly prices or even frequent bonuses or promotions. Arguably the lottery is not pressured to fix any technical issues users face — at least not as quickly. On a larger scale, fewer operators equates to fewer platforms that can potentially lure bettors away from offshore sites, or attract new bettors.

The goal of state-sanctioned wagering, lawmakers across the country have agreed, is to take business away from and ultimately shut down illegal sports betting. In a monopoly, Oregon cannot do enough to acquire customers and accomplish that feat.

For the record, the state could have other online sportsbooks active via partnerships with tribal casinos. It’s likely, though, those apps would only be accessible while on site.

It could also just open up a more open model of competition, something the lottery is tasked with in Tennessee.

Adding college sports betting would help

In the call with the Board of Commissioners, Pack noted how Scoreboard could gain more traction.

The availability of collegiate wagering,” he said, “is still up in the air … which would bring that margin up fairly substantially because of the interest in college sports and the fact that we could turn it on with really no costs.”

Oregon launched Scoreboard with the stipulation of only accepting wagers on professional sports. Some states, such as New Jersey, have prohibited betting on college events staged within respective state lines or on colleges located within the borders. Oregon outlawed college betting altogether.

That means taking away college football (up there with the NFL for most popular sport to wager on) and betting on March Madness, among others. That’s quite a lot of money left on the table.

An Oregon Lottery spokesman has indicated that lottery officials are working toward integrating collegiate betting.

“The ability to offer collegiate wagering would speed our progress towards profitability — increasing revenue with very little additional expense,” the spokesman told Willamette Week. “But there doesn’t seem to be much appetite for that in the Legislature.”

Some legislators in the state have backed House Bill 4057, which would ban gambling on college sports for good.

Indeed, much is to be desired with Oregon’s lone online sportsbook. And much work remains to fulfill the lottery’s desire to make Scoreboard profitable.

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Sports Betting

Can You Make Money With Sportsbook Promo Codes?

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I’ve been doing some research with sportsbook promo codes, and I think that you can use them to make money.

PREMISE: Use a good handicapper to put odds of winning money in your favor by attempting to “steal” the bonus money offered by sportsbook promo codes. Use the sportsbook promo codes “loophole” in the rules to EARN lots of cash

Example: Here is a typical bonus offered by sportsbook promo codes & buy $100, get $100 free for a total of $200. The minimum wager requirement is usually something like 10x. 10 x wager requirements means you have to wager a total of $2000 dollars (10x $100 bonus plus 10x $100 deposit) in total bets. Don’t worry, it’s not that hard to meet these wager requirements because ALL bets count towards the requirement, wins AND losses.

The edge at an online sportsbook is usually extremely thin and depends on them properly figuring out the odds of the all teams winning. Let’s pretend that the casino wins $100.40 for every $100 in bests made. This puts their “house edge” at 0.40%. &$2000 x 0.40% is $8.00 (Remember, this is 0.40%, LESS than 1.0%). That’s the amount you are predicted to lose if you follow the strategy card and make wagers on Bell fever slots totaling $2000.Subtract the $8 from the free $100 in bonus money the casino gave you and your profits total an amazing $92. Don’t understand?

What’s The Catch? The online sportsbooks simply don’t believe you will follow all these steps to win money. Either you won’t make good bets (betting on your favorite team even if they’re on a horrible losing streak), and that you’ll keep on playing after meeting the wager requirements, or you’ll try other sports. Prove them wrong! Be smart, follow the steps.

Why does it Work? Because the sportsbooks give you sportsbook promo codes that let you get FREE money to start playing. Although the point spread might be in the casino’s favor, I think you can still win with a good handicapper. The odds of winning money at the casino are in YOUR favor if you follow these steps: make good bets, and bet small.

Bottom Line? It’s sure easier to win if you use sportsbook promo codes to get a few hundred dollars. This will have an edge over the casinos and you should win money. From my calculations, you will have an 82% chance of beating the casino. The average player will win at least $90 per casino under these rules and strategy.

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Source by Devan Dafoe

Sports Betting

How To Improve Your Soccer Prediction Skills And Start To Make Consistent Money From Sports Betting

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If you are a soccer fan and bet occasionally, I believe you would have similar experience as below.

No matter how confidence you are about a team’s form and track record, there is still this “lady luck”. That is why many people say the ball is round, implying that the result of a match may go either way and it depends on luck sometimes….

I know there are many factors which can affect the result of a soccer match. These factors include the form of a team, whether the team is at home or away, even the emphasis of the team on a particular cup, and many more. Many times, even if you believe that you have done enough in assessing these factors before placing your bets, the results still turn out against you. Why? Simply because the lady LUCK is not on your side.

In summary, there is no 100% chance of winning for any team. If there is, the odds offer by the bookies will be extremely low that you will find it EXTREMELY unattractive to place the bet.

However, if you want to make a consistent income in sports betting, you need to cut down those inconsistent factors and spread the risk as some call it “spread betting”.

I would like to share the following tips in this “BETTING PROFITS FORMULA” which I have learnt:

1. Value Bets – You need to know where to find them and when to bet them. Skipping this part and you will join the 98% of punters who lose money…

2. Money Plan – You need a clear system that protects your money like a rabid guard dog and arms you with a flexible strategy that maximises profits and prepares you for any situation …

3. Fast Tracking – You need an easy way to track your results. This system will make it quick and easy by giving you the “drag-and-drop” spreadsheet …

This is a system using the statistics as well as mathematics as a strategy to win the bet. Of course you need to do some homework to find out the “value bets” to place your bets.

It also teaches you:

4. The 5 crucial elements that decide 99% of all soccer matches – and how they tip you to the greatest value odds…

5. Six step-by-step examples of how you can find values and make bets, and

6. The 4 things that ultimately determine whether a bookmaker’s odds are a good value, or cheddar in rat trap…

The next time when you place your bets, please take into account of the tips I have shared above and put yourself on the winning streak of your sports betting.

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Source by Andrew B K Tan

Sports Betting

Football Betting Tips And Money Management

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The hunt for profit doesn’t end as soon as one has found the most ideal football betting tips. There are still a great deal to be accomplished to make sure of consistent earnings. Money management is simply as essential as utilizing the best football betting tips.

Then again, in the rush to get one’s money on, a lot of individuals overlook this essential aspect of soccer betting. So, what’s money management? Let us look at it in basic terms: One is betting on 2 soccer matches. He knows that one would produce earnings 80% of the time while the other has a fifty-fifty odd of winning. One will want to place more money on the game with an 80% odd of profit wouldn’t he? That’s money management.

It’s simply managing one’s money to deal with risk. So, logic states that on one’s risky bets, he must risk less cash, and on the stakes that are stronger, one needs to wage more cash. This might appear like common sense to one, but it’s often disregarded.

Now, the next query is: How does one compute how much money to bet on a soccer team? The most typical means is to utilize a similar amount on every selection. Whilst this could work long term, in the short run one has to look out for long series of losers from the higher priced soccer tips. 4 or 5 losers successively could quickly deplete one’s bank. Thus, it might be better to find another approach.

One more method recommended by many is called the Kelly Criterion. Then again, Kelly needs one to know the likelihood of a win. The football bet size is then decided by initially converting the cost on bid into a probability. One then has to approximate the chances of his bet succeeding. The difference between one’s probability and a sport book’s cost probability has to be positive. If it’s negative, one must drop this soccer bet & move on to the following game. The bet size is then computed using such probability difference. A bigger difference will suggest bigger investment and vice versa.

Now, as one could imagine, the average individual couldn’t approximate the chances of his soccer prediction winning. So, such a method is of little help to him. Indeed, the mathematicians & professionals rave about such formula, and do not get it wrong, it’s terrific in theory – but it disappoints in practice.

This being said, lots of people prefer to utilize the usual methods available. Sports books have scrutinized the games in depth and it isn’t frequently that they get the odds wrong. So, why not make use of such to one’s advantage? This makes one’s foes’ greatest strength their weakness. Indeed, upsets do happen, but if one looks at a sport book’s probability tips long term, one would find out that if they cite an outcome at even money, such result would occur really close to fifty percent of the time.

Needless to say, there are different methods for one to use when it comes to football betting and/or money management. Hopefully, the above football betting tips will be able to help you finally decide on which one.

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Source by Jared D. Ingram

Sports Betting

Top Tips on How to Make Money Betting on Your Favorite Sports

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Sports betting has been around for some time as a favorite pastime by many. Of course, aside from the excitement and thrill it gives to a usual game of football or horseracing, you can also make money from it. In fact, a good amount of money in betting, that is also why many people wants to try their luck to make money betting on their favorite sports.

Although you can bet in your favorite sports, you can however bet on many other sports that might give you interest. Although you may not know much about how the game is played, you can still bet, minimize losses and maximize wins for as long as you have a system in place.

Here are a few tips that can help you on how to make money betting.

– Understand that losing is part of sports betting and in some point or another, you may have your own share of losses. One thing that you can keep in mind in betting is to be comfortable working with risks and learning to accept losses. Of course, you don’t have to just wait for your win, but you have to also have a strategy to maximize winnings and reduce risks.

– To make money in betting on your favorite sports, it is important to understand the different types of bets and the risks and rewards that you can get out of it. Indeed, one of the keys to big winnings in sports betting is knowing where to put your money. Different types of bets have different risks and rewards, thus being familiar with what types of bets can give you the good winnings with a manageable risk and help you on how to make money betting in sports.

– Only play the amount that you are willing to lose. Even if you have lots of money in your bankroll, it is still important to consider putting at risk an amount that you are willing to lose. Otherwise, you will be dwelling on your losses and chasing them that you forget to stick to your strategy and forget the fun of sports betting as well.

– Have a system and stick to it. Sports betting can be tricky as there are a lot of risks involved. Although there is no single formula to make sure you win in sports betting, there are some tips that can help you make wiser decisions when it comes to betting.

– In any sports you are betting, do your homework and research on the teams and their past performances. There may be no formula to be winning always in sports betting, but a few research would help you minimize the risk and maximize your profits as well.

If you want to make money betting on your favorite sports, it is important that you have the courage to face risks and the ability to accept losses.

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Source by Carolyn Anderson

Sports Betting

Can You Make Money From Betting? An Introduction to Private-Closed Betting Forums

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Many people are trying for years to do that, and mostly are unsuccessful.The reason is poor knowledge about the events they are betting on, poor money management, greed and maybe the most important thing – poor overall strategy. But with help and professional work, this can be accomplished on the long term.

A professional punter will never bet on an event that knows nothing about it but the league table. He will never "pick a winner" no matter what the odds are! And this because you actually bet on odds not on a team, and that is why the odds are the most important thing in betting.

Staking is also vital. There are several resources on Internet about staking, and also there are several styles of staking, depending of the punter (some use flat staking, some only maximum bets, etc.) but most likely you should find the strategy that fits you the best, According to your hit rate. But never forget one thing: don't bet more than you afford to lose.

The best successful strategy may be the "betting syndicate." Punters meet in places like private forums and share their bets. And usually each has an area (league, sport, etc) that he is following closely to gain an advantage over the bookmakers, and to find value in odds (this means he can actually estimate the chances for an outcome better than the odds maker did so he can see if an outcome is overpriced). It is vital that you follow all that punter's bets, and also very important to bet on the same odd he did. If he`sa good tipster and makes profit, you will do too.

What's the advantage of a syndicate? Well, if each of it`s members gain let's say a 10% yield do a small calculation and see how much this means when there are 20-30 members on that betting team.

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Source by Petrica Moise

Sports Betting

To Make Money Gambling by Betting on Baseball – Use a Baseball Betting System, Not Emotion

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I have received so many questions about betting on baseball and do most gamblers really implement a system to find a batch of winning picks. The answer is yes. I subscribe to a baseball picks system. However, I also like to look at games outside of the system.

The next question I get is how come many bettors like to wager outside of their systems? Well, the main reason is they just like wagering too much to bet only with systems. They start to get emotionally involved with the teams. They want to see the hometown team play and they like to feel the highs and lows when they have money riding on them. So when these teams don’t show up in their subscribed baseball picks, they place wagers outside of their sports betting system.

The real challenge here is the lack of handicapping. When betting on baseball, extreme care needs to go into your wagering. The idea is to win and money to buy cool stuff, put money into the bank, pay bills, etc. But I can guarantee you that most people are losing a majority of the games they bet on. Why? The games aren’t handicapped properly to put the bettor in the best possible light to win the bet.

A point that I like to make is that there are many ways to bet on MLB baseball. But I recommend, unless you are professional handicapper or you have been doing your own successful handicapping for a long time, use a baseball betting system to overcome the odds and win big. It’s a funny thing about odds. You can bet on two games and win one and lose one and still lose money because of the betting and payout odds. This is why I usually let a professional handicapper select my games for me. I want to win!

To rack up a huge winning streak betting on baseball, you have to overcome the sports own unique odds and if you are making picks outside of any sports betting system you need some intimate knowledge of the sport. Plus you will need to spend time researching and handicapping. I spend countless hours working on my own analysis to make my own choices to make money from gambling daily and I still get picks from my baseball picks from a system. I don’t rely upon luck or emotion when I gamble because I like to win and win regularly.

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Source by Jay Ry

Sports Betting

Make Money With a Dutch Betting System

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Dutch Betting or Dutching has been around for years but it's often been very difficult to place such a bet even if you have a strong betting system! This has all changed with the advent of Betfair and other online gambling sites and dutch bets are now very easy to place.

So what exactly is a dutch bet? Very simply it's a multiple bet covering a number of results. In horse betting dutching means we back more than one horse as potential race winner and the attractions are obvious.

Even if we have some excellent racing tips for profits there are often many differing views from the experts as to which horse will cross the line first. A dutch bet allows us to cover these and back moe then one runner. It may sound like an instant path to profits but trust me a robust strategy is needed!

Inevitably is we back more than one horse only one can win and we have to allow for our losing bets. We can do this by backing a combination of horses within a certain odds range. The foundation of any dutch bet system is some simple mathematics – actually this is the same for any betting system in my mind!

Backers of race favorites can make good profits but when surprise results come, as they do, they can hurt your betting bank. Placing bets on several runners can ease the pain of these surprise results and ensure more consistent profits.

Dutching calculators will complete some of the potentially complex calculations for you and are very useful. The system I use relies on level stakes and does not need a dutching calculator or the use of racing tips. I use Betfair for the system as it's quick to place multiple bets and the odds tend to be 20% or more higher than many other bookies. At the end of the day Betfair don't care if you win as they still earn their commission so you won't get banned for using a dutch bet system!

The attractions of multiple bets on a race are obvious but don't be tempted to leap in without a solid strategy. To learn more about dutch and other betting systems visit my Blog where I test and review the best and worst.

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Source by Jon Mainwaring

Sports Betting

Taking A Look At The Best UK Slots Sites For Real Money

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Do you love casinos and slot machines? You're not alone, many people love the excitement, joy, and fun of playing slot machines along with games such as poker, craps, and roulette. However casinos can be expensive and usually require long travel distances. Luckily with the growth of the internet and modern technology, you can now enjoy the entire casino experience in your own house. There are many online casino sites for people who live in the United Kingdom. If you are interested in playing slots online, be sure to check out this article about UK slots sites.

One of the most popular slot sites for residents of the United Kingdom is Sky Vegas casino. Sky Vegas is famous for their many different playing systems such as Sky Bet, Sky Poker, Sky Vegas, and Sky Bingo. Sky Vegas Casino offers a ton of entertaining games, including slot games, community games, and table games. They also have a welcome bonus which requires absolutely no deposit as well as a deposit bonus which allows you to double your initial deposit up to £ 100.

At Sky Vegas, you can play traditional casino games such as Blackjack, or instead try innovative, new games such as Deal or No Deal or Cubis. You can chat with players online as well as play with mobile phones or one of the latest smart phone devices. If you are interested in UK slots sites, you should definitively check out Sky Vegas Casino.

Perhaps you prefer betting on sports in the UK? If so BetVictor is the perfect website for you. They offer sports betting for a variety of different sports, everything from horse racing, football, darts, cricket, curling, ice hockey, rugby and more! They also offer an online casino where you can play card games, or slot machiens such as The Dark Knight, Monopoly Plus, Cleopatra, and over 150 other games, making Bet Victor one of the most favored UK slots sites online. Plus if you are unsure if you like a certain game, you can always try out the slot demo game before playing for real money.

In addition to these sites, you can also check out Virgin Casino, Ladbrokes, Genting casino, Bet 365, and Jackpot Party for fantastic bonus deals, free to play slot machine games, and all round good quality entertainment from one of the best review sites in the industry. Check out the links below for a ton of information about online casinos, including reviews, news, mobile gaming, bonus deals and more.

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Source by Dave Smitte

Sports Betting

How to Avoid HYIP Cheats and Make Cool Money!

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If you have been to HYIP before you will know what am talking about. Let me give you a brief introduction, a brief introduction, High Yield Investment Program, also known as HYIP, is a type of investment program that yields high interest rates ranging from 5% to as much as 250% per month making it the top investment program. HYIP’s accept investments that are as small as $10 and claims that they can provide high interest rates.

Though it has been popularly known that HYIP’s don’t last! On the average majority last for between 80 – 350 days and some can last for about 5 years before disappearing.

How do HIYP’s work?

All transactions of HYIP’s are done over the internet using a Liberty reserve eCurrency account. HYIP’s utilize a lot of strategizing in order to yield the high interest rates that were promised to the investors. The money is placed on various investments such as capital management, metal trading, sport exchange, sport betting and forex trading. The irony of it is that some HYIP’s also place an investment on other HYIP’s.

However if you know how it works and how to get your share from HYIP’s, you can make hundreds to thousands of Dollars Monthly from Paying HYIP’s without investing KOBO and this is what i have come to show you!!!

The secret to avoid HYIP scams and make money from them is to go into their referral programs. Some current paying HYIP’s can pay you up to like 10% on other people’s deposit that you have referred to them. So get up to 10 people per day and let’s say each deposited $50 minimum into HYIP investments. Calculate, That is cool $50 x10 =$500 at the rate of 10% that is cool $50 money for you daily. Isn’t it okay at least to rake your share from HYIP’s before they finally disappear.

Making $50 daily from HYIP’s is a good income and it’s easy to get.

You need to know that there thousands of people online who have their money invested in one HYIP or the other. So Find them and make cash FAST.

For more articles on this visit http://www.HYIPdollars.blogspot.com.

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Source by Enny Ola