NCAA Tourney - Gambling Questions Thread

Okay, so after watching the first weekend, I think Duke is beatable, and since I see the current line is Duke -7.5, I'm thinking that I might be interested in putting some money on it. Having never gambled legally before (save for a month in Mississippi post-Katrina while on detail with FEMA), I'm wondering how someone gets started into this. My thought is to post up some play money (a few hundred dollars) and bet with that until it's gone (and it will be, I'm sure). But I have so many questions for those who are already in the space:

- What sites do you find best for legal online gambling? (The legal part is important, as I hold a security clearance. If that is an insurmountable barrier, then I'm not going to start.)
- What resources do you use for information?
- I understand lines, but what is the +150, +350 notation?
- I hear there's a way to bet on two games together and move the lines in your favor. What is that, parlay? How does that work?
- What kind of prop bets do you like? What do you stay away from?
- What kind of advice would you give to a gambling n00b? What to avoid? What works for you?

And there are a whole lot of other questions that I don't know enough to ask, I'm sure. What other questions do I need to be asking myself?

Thanks in advance.
LBT, Grand Questioner ;^)

Forums: 
DISCLAIMER: Forum topics may not have been written or edited by The Key Play staff.

Comments

so after watching the first weekend Feb 26, I think Duke is beatable

I got ya.

To you from failing hands we throw
The torch; be yours to hold it high.
@BuryHokie #ThanksFrank

But ESPN says Duke didn't have Zion so it didn't matter. They didn't mention #5 so I can only assume he isn't nearly as important for us. /s

If you're reading the above post and thinking, "is this guy serious?!?," you can safely assume I'm not.

1) I use and recommend Bovada.

2) Resources... nothing really.... maybe a couple things I see on twitter or what I read on ESPN/stats. Pretty much what I know already.... ex. who is a high scoring team, who has a poop defense, who's injured, rivalry game, etc.

3) Vegas lines always show how much you have to pay/how you would win based on $100. For example, if a team has a -150 line, that means you would have to bet $150 to win $100. If it is +$150, that means you would win $150 for every $100 you bet. The favorite team always has the "-" bet and the underdog always has the "+" bet. The higher payout is a way to even out the playing field and intrigue bettors to bet on the underdog. You don't HAVE to bet $100, it is just an easy way to understand the payout. I think on Bovada, you can bet as small as 50 cents.

4) A parlay is a series of bets. You can bet individually on each of those bets, some of them, or none at all. To be paid on parlays, you have to place a bet on the parlay hitting, and the parlay only hits/you win if only every single one of your individual bets hit. A parlay is still alive if you "push", meaning if the line is +7 (and you took the underdog at +7 ) and the underdog loses by 7, it's a push. The parlay would still be alive, you just don't get paid out as much due to the push.

5) I am not huge into prop bets unless its a big game, like the Super Bowl. Things I have done recently was "Is the length of the national anthem longer/shorter than first drive of the game? To each their own though.

6) Play with money only with what you are ok losing, which it sounds like you are. I am a sucker for taking the points/underdogs because it gives you more ways to win..... win outright or win as long as team doesn't lose by x points. I always like taking the over on total points because there is only so many outcomes that can happen for unders to hit; Overs have unlimited outcomes and with OT's, that's how unders get boned. My other advice is bet on teams/players that you know more about. I made a lot of money on VT basketball team when J-rob when out. It seemed Vegas didn't understand his importance.

I am a proud gambling degenerate, so let me know if you have any other questions!

Bleeding burnt orange and chicago maroon

The legal part will depend on which state you live in. WV and NJ have legalized, but VA has not. I believe PA may be the next state to legalize.

To simplify the odds: +150 means you have to risk $100 to win $150. -150 means you have to risk $150 to win $100.

GIVE IT TO ME ROSCOE!

WV and NJ have legalized, but VA has not.

Well, if that's true, then I'm out, because I live in VA. Not going to risk my career over it. Oh, well.

If you're not sure if my comment warrants a "/s", it probably does.

I live in VA and have no problems with my online account. The site goes off your address you put in and if the state allows online gambling, (which VA does), then you should have no problem.

Bleeding burnt orange and chicago maroon

If you drive to WV or PA or Delaware to place a sports bet there it 1. has nothing to do with the state you live in, and 2. Is legal, so won't impact your career in any way. It's like going to vegas, except now its closer.

I'm not driving out of my way to do this, bud. Looking for online access. Which if avtfan is correct, I should be okay.

If you're not sure if my comment warrants a "/s", it probably does.

Ahhh.. online is a crapshoot... some times you get paid, sometimes you don't. Buyer beware! Good luck Bud

I believe PA may be the next state to legalize.

We have legal betting here in PA, but you have to do it in person until they get the online sportsbooks legalized.

If you're reading the above post and thinking, "is this guy serious?!?," you can safely assume I'm not.

I second the recommendation for Bovada. It's an easy way to get to understand the basics. I stay away from prop bets and stick to parlays and round robins with low bets that have decent payouts.

If you live in the DMV, I would recommend driving to Ranson, WV to the casino (about an hour drive in good traffic) and going through the sportsbook there. If you want do it online, I would recommend making a bet using bitcoin (you can buy bitcoin through Circle) as the withdrawal rates are significantly faster (1-2 hours vs. 10-14 days). I use nitrogen sports, which I would recommend.

I second nitrogen sports. Of course I only stumbled upon that because I had some play money already on bitcoin

Warning: this post occasionally contains strong language (which may be unsuitable for children), unusual humor (which may be unsuitable for adults), and advanced mathematics (which may be unsuitable for liberal-arts majors)..