Wednesday, February 22, 2012
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Cashout Your Winnings

Time to withdraw your winnings from your sports book account? If you're reading this section, you must have won some money. That's always good news.

The online gambling scene keeps weathering one sea change after another. For U.S. bettors, legislation such as the UIGEA has had an enormous impact and redefined the market. Sports fans of other nations have had to adjust to changes their home countries have brought upon the industry, too.

Many options for withdrawing money from an online sportsbook have vanished, but new ones tend to open up to fill the void. Customers outside the U.S. continue to have more of a range of methods for cashing out. Non-U.S. bettors can usually use:

Credit cards: These continue to be options for many, for cashouts, if you are not in the United States.

Bank Wire: Easy to do. Request to be paid by wire and make sure you give the full information required for processing. There is normally a minimum withdrawal amount required, and sometimes a fee.

Online Wallet: Neteller, Moneybookers, and Click2Pay are examples of online financial processors which are open to residents of many nations other than the United States. These 3 have a history of service and security you can read about online.

No matter where you live, you should make sure you're doing a couple of things.

1. Communicate with your sportsbook -- and stay in touch with them. Ask which methods are available to withdraw for someone in your location. And when it's time to cash out, ask again if the same methods are still open to you.

2. Have more than one method available for you to use. For instance, if your sportsbook is changing check processors when you want to withdraw, you'll need an alternative to avoid long wait times.

Other methods:

Check: Check processors change, so ask: Is this still an option for withdrawal? and How long would it take to receive winnings by check?

Bank Wire: Check to see if they are able to wire to a U.S. bank account. Alternately, they may be able to wire to a non-U.S. bank account, if you have one. And ask how long they expect this to take.

Other Online Wallets: If you're smart you've signed up for other methods available online in addition to the method you first used to deposit to your sportsbetting account. Worldwide bettors are still having reasonable processing times for cashouts using Click2Pay, Moneybookers, and Neteller, as well as others. U.S. bettors are able to use Usemywallet and eWalletXpress. EWalletXpress does not require a credit card, and can be funded from a bank account. There is a 10% fee to withdraw funds. Usemywallet requires an invite from an online sportsbook or casino in order to sign up. Ask your sportsbook if they offer these as deposit/withdrawal methods.

Person-to-person Transfer: These cash transfers charge sizable fees. If your sportsbook uses this method, they'll give you details. If you are choosing this method only because check or some other preferred option stopped being available -- or is taking way too long -- you might ask them to waive part or all of the fees. It's worth a shot.

Often when you request winnings, you'll be asked to submit ID. This is a security measure and extremely common now, so try not to view it as a reason to distrust your sportsbook. Your account with them already contains this information.

 

What is a Proposition Bet?

Proposition bets are very specific wagers offered by sportsbooks. Also referred to as exotic bets or props, a proposition bet is a wager with more than one outcome which is not directly related to the final score of the game. In recent years, proposition bets have become increasingly popular with both the online sportsbooks and bettors worldwide.

The NFL is an extremely popular medium for proposition bets. They can be seen in big games such as NFL Monday night football, NFL playoff games and, of course, the Super Bowl. Examples of common proposition bets in football include the last team to score, most passing yards, total number of quarterback sacks, and most rushing yards are just a few examples of proposition wagers offered on selected key football games.

As with anything, there are viable proposition bets and there are proposition bets that are just plain ridiculous. The key is to recognize the good from the bad. For instance, bets like heads or tails on the coin toss, who will be the first to score, who will be the last team to score, and whether or not there will be a score within the first ten minutes of the game are pretty much nonsense bets. These proposition bets are okay every once in a while but do not expect to win on a long term basis with these types of wagers.

Worthwhile proposition bets include the quarterback throwing for an over/under a certain amount of yards, point spreads between running backs and quarterbacks going head to head and bets involving both the longest field goal and longest reception. These types of proposition bets are beatable and can be very profitable if played smart.

The most popular NFL proposition bets are always found for the Super Bowl. Bettors wait for this mega event to arrive every year. It seems that these wagers have become an integral part of the biggest game in the National Football League.

Another growing medium involving proposition bets is Monday night football. Using key players as the topic of these wagers increases interest and gives bettors many different wagering options.

Proposition bets have been around for a number of years and have seen increasing popularity as of late. As with any other types of bets, have fun but remember to know your limit.


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Juice in Betting

When it comes to betting on sports there is certain terminology that gets thrown around that the novice bettor may not completely understand. One of these terms just might be "juice."

The simplest way to explain the term juice is to say that it is the percentage of the bet which the sportsbook takes as profit. All sportsbooks are iin the business to make a profit and juice is one of the ways that they make money. In essence juice, or vigorish for the old school bettor, is the amount of money or commission a sportsbook receives for taking your bet. This generally amounts to 10% but can vary from sport to sport and sportsbook to sportsbook.

Sportsbook juice is a numerical value added to the line on the favored team so that the sportsbook can make money off a particular bet. Juice is applied to the favorite in sports betting since it is considered a safe bet to bet on the favorite. As a result, the sportsbook is more likely to pay out a higher number of winning bets for this particular match-up. The juice may be viewed as a service charge for the smaller risk associated with placing a wager on the favorite. On the same note, if you choose to bet on the underdog you will not be charged a fee, i.e. no juice applies. The reason behind this is because this team is not favored to win. It is a riskier bet to you and a safer bet for the house.

You might think that betting the underdog will net you more money. This may be the case initially but will likely not be profitable all season long. In some instances betting on the favorite is more profitable and safer even though you earn less than even money on your wager. By working this way you will find that you will win games and bets by not taking foolish risks.

Not being foolish includes checking the lines and odds very carefully. Lines are typically 110/90 but this is not always the case. Being aware of the odds on a particular wager allows you to bet wisely. There is nothing worse than mistakenly picking the wrong team because you don't understand the betting risk. Be aware that where there is a strong chance that the favorite will win the sportsbook is likely to alter the lines and charge more juice for the bet.

Juice is not charged on all bets. Exotic bets, such as parlays, are one such example. In a parlay bet, the odds that a bettor will be able to choose the winners of multiple games are slim to none. As a result, the sportsbook does not charge a fee for betting as it will always come out on top simply because the math favors the sportsbook everytime.

If you are new to sports betting you may want to look for "reduced juice" specials. Some sportsbooks offer reduced juice on weekdays or for special sporting events. Typically, reduced juice days will be offered on days with little or no major sporting events. Sportsbooks run this special to attract business during the week; they won't take a big loss if the favorite wins because the handle for the day will be smaller than it would be on the weekend.


Click Here to sign up for an account at BoDog Sportsbook

   

Realistic Betting Expectations

What do I want from betting on football? Sounds like a simple enough question. So simple, in fact, that an estimated 95% of all football bettors have never even asked the question let alone answer it.

You will do yourself a huge favor when it comes to sports betting if you list what you want to gain from placing a wager. Aside from the obvious answer of "winning" try to make a list of realistic goals. To be truly successful when betting on sports, it is extremely important to have an ultimate goal.

There are numerous handicappers who write about money management but very few ever touch on setting up specific goals. Setting goals is the number one key to a profitable football betting season. True professionals strive to hit around 60% of their wagers during a given season. ignore those persons who claim to hit 75% to 80% of their bets. These people are not handicappers; they are salesmen who have created a misconception of what it means to be a successful bettor. These people are the reason that the majority of sports bettors have unrealistic expectations and feel that if they don't attain this ridiculous percentage they are failing at betting on sports.

By setting realistic goals before the betting season begins you will avoid a lot of frustration throughout the season. Look at the season as a long term endeavor and expect extreme variation from week to week.

Common sense dictates that you are not going to make $50,000 with a bankroll of $1,000. Decide ahead of time what your bankroll will be for the entire season. A bankroll should be money that you can afford to lose without affecting your lifestyle and shouldn't be money that is needed for something else. A standard bankroll should be at a minimum of 40 times your average unit of play. This will minimize the pressure should you find yourself in the midst of a losing streak.

Sports betting can not only be fun, it can be very profitable. As long as you remember to make a list of goals and allocate a certain amount of money for your bankroll, you are more likely than not to stay focused and on track.


Click Here to sign up for an account at BoDog Sportsbook

   

What is the Best Football Wager?

 

Betting on sports has become a favorite past time in many parts of the world. Every week, millions of dollars are spent by bettors wagering on their favorite National Football League teams. Because there is so much money that is bet on football, an enormous amount of time is being spent by bettors trying to analyze teams and games.

Despite all of the time that bettors spend trying to analyze the many facets of football, a good portion of those persons wagering consistently choose to make the wrong betting decisions. For this reason alone, it is a good idea to stick to the bets and trends that will give you the best chance to come out a winner. The following are a few football bets that will lead you in the direction of winning more football bets than you lose.

Betting against extreme winning or losing streaks is a great betting option when it presents itself. With the amount of footage available within the NFL, it is rare for teams to continually put up points each and every week no matter how good they are offensively.

Things to keep your eye out for include a team that puts up 35 points two weeks in a row while holding the opposing team to under 10 points. The chances that a team can play like this for more than two weeks in a row are extremely rare. If you are lucky enough to come across this trend while betting football, take advantage and place a wager! The downside to this football bet is that it does not come around often enough.

Another very profitable way to bet on football involves home and away games. Think about it. Who usually has the advantage during a sporting event? The home team, of course. That being said, teams on the road have to work harder trying to win away from home. They have an even worse chance of winning more than one football game on the road.

The time to wager is when a team on the road loses it's first game of back to back away games. Betting on the road team to cover the point spread in their second game will win between 55 and 60 percent of the time. Statistics show that teams that lose on the road are going to try harder to win the next game and are more used to playing on the road after one away game.

Hands down the best football wager involves a winless team after a bye week. Taking the time that a bye week offers a team to heal and focus does wonders for leading them to cover the spread. Winless teams coming off of a bye week beat the spread at an alarming rate which, in turn, makes this bet one of the most profitable wagers in football betting.

As you can see, the best wager to use in football is not a straight bet, parlay or a teaser. The best bet that you can make in football has to do with how well you know the players and teams, and just how much you are paying attention to streaks and trends.


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