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sports betting bookie - FabioIneks - 02-08-2021 The Ultimate Guide to Sports Betting. In 2018, the United States Supreme Court’s decision in the Murphy v. NCAA case opened the door for legalized sports gambling. Immediately after that decision, the state legislatures went to work and many passed laws making wagering legal. Though now legal in many states, sports betting enthusiasts found ways to gamble for years. Now, with legal casino and online operations growing in rapid numbers, it’s never been easier for a player to find action. Are you a sports fan? Do you have the itch for some action but are not familiar with sports betting rules? Don’t be a square and bet before you know what you’re doing. That’s an easy way to lose money. Check out our comprehensive guide on sports betting to educate yourself. It Seems So Simple. For as long as there have been contests, someone bet on the outcome. From ancient Greece to present-day Las Vegas, sports and sports betting fit like a hand in a glove. Many sports fans long consider it their favorite pastime. And to the inexperienced, sports wagering seems so simple. You pick who wins the game. If you win, you make money. Yes, if it were only that easy. The truth is, it’s not. You only have to look at how much revenue sportsbooks pull in every year to know how hard it is to make money. Do you think bookmakers would bother operating on the wrong side of the law for so many years if sports gambling wasn’t profitable for them? No, they wouldn’t. You need to know how complicated betting is before you can dip your toe into the gambling market. You don’t need to learn complicated strategy overnight, but you need foundational knowledge of the basics before you begin. Important Terms. Sports betting has its terminology you need to know. Though the list of sports betting jargon is long, to understand the rest, you need to learn these terms. Favorite. When bookmakers set their numbers, they decide who they think will win the game and by how much. A favorite is who the bookmaker thinks will win the game, and receives a (-) on the board. A better receives less return for a winning bet on a favorite because they are more likely to win. Underdog. Players receive a greater return on winning underdog bets because these “dogs” are less likely to win. Every bet has at least two sides (there are some with three, but we’ll talk about those later). Each side is given a corresponding number decided by a bookmaker. These sides exist in all three basic bet types. A line is all the numbers that correspond with a bet. This includes the full game or any specific time interval. Types of Bets. Three basic bets serve as the foundation for all sports betting. When you walk into a casino sportsbook or pull up the app for the first time, you will see a series of numbers that are confusing if you don’t know what they mean. Here we will explain the three types of bets and what the corresponding numbers mean. Moneyline. A moneyline bet is a bet for a team or individual to win a contest. It’s the most simple bet to make. This is easy to explain with a real-life example. Say you’re a college football fan and you want to make the championship game more interesting with a wager. You have a good feeling that Ohio State will beat Alabama, so you want to bet them to win. What do those numbers mean for you? If you bet $100 on underdog Ohio State, you win $225. However, to win $100 on Alabama, you must wager $286. As you can see, you can win more money betting on dogs. That doesn’t mean you should always play them. Spread. Sports bettors and bookmakers wouldn’t make much money if they only offered win/lose moneyline bets. If you’re a long-time sports fan you know that sometimes the talent discrepancy between two teams is immense. Spread bets, also known as puck-line bets in hockey and run-line bets in baseball, are how you bet on these games. Every single contest has a corresponding spread. With a spread bet, you bet on a team to win over a certain amount of points or lose by less than a certain amount of points. The bookmaker determines these numbers (in hockey and baseball these numbers are a standard 1.5, though they will move). You have that feeling about Ohio State, but you’re not positive they’ll win. You do think it will be a close game. What does this mean? If you think Ohio State will lose by less than 9 points or win the game, you’ll win your bet at -110. That means to win $100 on that bet you’ll bet $110. If you bet Alabama at -9 -110, that means Alabama must win the game by more than 9 points for you to win. Total. To win an over bet, Ohio State and Alabama must combine to score more than 75.5 points. To win an under bet, these two teams must score less than 75.5. The standard odds on these bets are -110, but they are subject to change. Exotic Bets. Now that you know what the three basic bets are, you can start building exotic bets that are based on them. Parlay. A parlay is two or more bets combined to increase your winnings. Sportsbooks and casinos have different rules on parlays and how you can play them. The only catch? You must win all your bets in a parlay to win. If you go 8 for 9 on a parlay, you lose. Teaser. Sportsbooks allow you to adjust the spreads or point totals on parlay bets through teasers. For football, they offer 6, 6.5, and 7 point teasers. This means your Ohio State and Pittsburgh parlay will have more favorable numbers. Because you’re given more favorable numbers, the book reduces your payout. A 3-way bet is a moneyline bet with three sides. You can bet on Ohio State to win, Alabama to win, or a tie. These bets are offered for the full regulation not counting any overtime, or for set intervals of the game like quarters or halves. You’ll find that the moneyline numbers on a 3-way yield higher payouts. They’re harder to win. If you bet Ohio State on a 3-way line to win the first half and the teams tie, you lose. Round-Robin. If you do this, you have three separate two-team parlay combinations you wager on. You have Ohio State and Pittsburgh, Ohio State and San Francisco, and Pittsburgh and San Francisco. If only one parlay hits, you lost $200 but won $265. That means the book pays out $65. The Logic Behind the Lines. To understand sports gambling, you have to understand how bookies and sportsbooks make money . The primary way sportsbooks make money is through the “juice” or the “vig.” The juice is a commission the book keeps on each bet. When you place a $100 bet on the Ohio State spread, you get your $100 back plus $91 in winnings. On the other side, people who bet $100 on Alabama lose their $100. This $9 difference, or vig, is kept by the book. Because the book profits primarily on the juice, they set their lines to encourage even play on both sides. That Ohio State vs. Alabama spread of 9 points doesn’t mean that a bookie believes Alabama will win by that much or more. They come to that number by determining what margin will entice an equal number of players to make bets on either side. Understanding Line Movement. What happened? Betting lines are not static. When bookmakers release their initial lines, they begin to take bets. They set the original number to encourage play on both sides. Experienced gamblers do not live in a vacuum. They have their ideas about what will happen in any given game. These preferences show with how much money comes in on either side. If money comes in heavy on the Alabama side at -9, the bookmaker will move that number up to get play on Ohio State. These movements can come from consistent public play or a large single wager. When you bet on sports, you have to change how you think about picking games. Winning sports betting is not as simple as beating the sportsbook number. You play the sportsbook and fellow gamblers. How to Win. Winning at sports gambling takes a lot of work and a lot of skill. The best sports bettors often top out at 55%. Given that even the best still lose 45% of the time, you have to expect you’ll lose a lot more when you start. Sports gambling is about so much more than picking who wins. You have to keep your eyes on the numbers and you have to do a ton of research. Stat books and statistical probability are your best friends. Once you learn how to interpret the numbers and statistics, you may see some success. Don’t bet on it. Sports betting is, at best, a nice hobby and a great way to generate interest in a game. It’s best to start slow and have fun. Sports Betting Will Be Here Forever. If there is a game or a contest anywhere in the world, be sure someone bets on it. From professional football to Ukrainian table tennis, gamblers will find a way to lay action. Become familiar with the terms and the rules of sports betting. The best way to lose money is to give it to a bookmaker or casino with uninformed wagers. Are you a real sharp? Why stay on the wrong side of the ticket window? Start your own sportsbook and make real money with Ace Per Head . We offer the best pay per head software platform. Try a free demo today. Ghana Latest Football News, Live Scores, Results - GHANAsoccernet. The Online Sports Betting In M88 Bookie. Torric Jebrin. In all the bookies operating in the online betting market Vietnam and around the world, M88 bookie is one of the leading brands with a huge number of members. M88, also known as the Mansion88 bookmaker, which is headquartered in the Philippines and is licensed to trade online betting from the world's leading betting group Economic Zone Authority. During the process of formation and development, M88 has been affirming its name and reputation in the Asian region. With a variety of betting packages such as: M88 sports betting, poker and casinos. However, online sports betting at M88 is one of the areas that focus on investing with many attractive policies to attract players to participate. When participating in sports betting at M88, players will be able to choose from one of three products: Online Sports Betting, Virtual Sports Betting and M-Sports Betting. Let’s find out the essential information about these sports betting products with us! Online Sports Betting. Online sports betting is a form of traditional betting based on real sports tournaments and events around the world. At M88 you can find bets on many popular sports such as: football, tennis, badminton,volleyball, basketball, gift, boxing and many other sports. For each sport, the M88 bookie will provide for players with a variety of extremely attractive bets to suit big tournaments. Online sports betting M88 provides all popular bets today such as Handicap, Under/Over, 1 × 2, exact score, total goals, total penalty cards, even/odd,etc. In addition, for certain matches, this reliable bookie also creates extra bets to give more winning opportunities for the players. Virtual Sports Betting. Virtual Sports is a unique product specially designed by M88 based on the RNG (Random Number Generation) element. Players can easily choose from one of the exciting games in Virtual Sports including: – Virtual Greyhound Races. – Virtual Horse Races. – Virtual Motorcycle Speedway. One of the most interesting features of Virtual sports betting is that all the matches are provided by iTech Labs - the company that specializes in providing the world's leading Fantasy Sports platform. This is the prestigious partner of most of the largest bookmakers in the world. Therefore, you can bet with peace of mind because it always puts prestige and service quality on top. Depending on the product, there will be respective betting methods, all of which provide customers with unique experiences. As a result, Virtual Sports betting is always a good choice to play betting alongside classic sports betting. M-Sports Betting. M-Sports has the same interface as Online sports betting M88 but different in default language. M-Sports’s language is always Vietnamese, including notes, bets, buttons, etc., you don't need to change the language like online sports. Therefore, you can know how to bet on M-Sports M88 conveniently with the default Vietnamese language. Another important difference, the bet history at M-Sports will be stored for a 10-day period, which is shorter than that of M88 Sports. In addition, M-sports can be considered as the Vietnamese version of Online sports betting, so you can completely choose this version if you are not familiar with using the English interface to place bets. This will make it easier for you to better understand the features or types of bets to be able to make the most accurate decisions. Why Should Place A Bet At M88 Bookie? The M88 bookie is definitely an attractive sports betting playground for all players over Asia because of its outstanding advantages as follows: Absolutely safe security system. Most players focus only on the promotions that the bookmaker offers. However, the most important thing to note before choosing a reputable dealer is its security system. There are many dangerous factors in the internet market today such as data theft. Therefore, M88 has applied the best security technology - SSL-128Bit. This is a technology that helps keep customers' personal information secure in any situation. This also makes the player's experience easier and more comfortable. Events and tournaments are quickly updated. Any major event or tournament around the world is updated at a fast speed by M88 bookie. Even if you do not see your favorite match on the website, please contact the customer service department for M88 to update immediately. Great promotions and odds. For all newly registered members, M88 offers a 125% deposit bonus up to 7,088,000 VND, the highest in the online betting market today. During the experience at this bookie, you also have the opportunity to receive bonus promotions like return or recharge with many high value rewards when playing any online sports betting products. Behind the success of M88 is a team of professionals with a long experience in the betting industry. Therefore, all odds information and live betting odds at M88 is considered outstanding and has a higher chance of winning than any other bookie. Customer service 24/7. Conclusion. Above is some useful information about online sports betting at M88 that you should know. Learn carefully and choose the most suitable online sports betting product to get the best win. With many attractive policies to guide players, M88 bookie always gives players the best service. And the best part about participating in online sports betting with the M88 bookmarker with its free deposit and withdrawal policy, you will always receive your full winnings. Good Luck! How to Pay Taxes On Your Sports Betting Winnings. 100% Welcome Bonus up to £50. Winning at sports betting is fun, exciting and financially rewarding. Paying taxes on those winnings is none of those things, but it’s necessary. Sports betting winnings are considered taxable income and must be reported each year. According to the Internal Revenue Service, it is your responsibility to keep track of sports betting wins and losses and to enter the appropriate amounts on your annual tax returns. This guide addresses several sports betting tax questions. If you’re not clear about a specific tax issue, it’s always wise to consult an accountant, tax professional or financial advisor who can answer questions and help avoid potential errors and penalties. Is Sports Betting Taxable Income? Yes, all gambling income is taxable, not just sports betting. That includes winnings from poker, casino games, pari-mutuel wagering, keno and lottery. Depending on the form of gambling, payoffs that reach a certain threshold automatically trigger IRS notification. In sports wagering, you will receive a W-2G form if your winnings are $600 or more and the payout is at least 300 times the amount of the wager. The IRS also receives a copy of that W-2G. It makes no difference if your sports winnings were earned at an online or physical sportsbook or on a parlay wager or longshot futures bet. Even if the winnings were simply added to your online account and never withdrawn, it’s considered taxable income. If you won prizes instead of cash in a sports betting tournament, the IRS requires you to report the fair market value of those prizes. CHECK OUT: Looking For The Best Mobile Sports Betting App In Your State? Read Our Complete Guide To Sports Betting Apps. How Much Will I Have to Pay in Taxes? A bettor should be prepared to pay about 24% federal tax on gambling winnings. They may also have to pay state income tax on their winnings, depending on the state where they reside. In some cases, federal tax may be automatically deducted from your winnings if the payoff meets a certain threshold. For example, sportsbooks are generally required to withhold 24% of net winnings when a wager pays out more than $5,000 of net winnings with odds of 300-1 or greater. Note that the 24% is an estimate and you may owe more or less than that amount depending on your federal income tax bracket. Even if you don’t cash a big sports bet ticket or receive a W-2G form, it is still your responsibility to report sports wagering (or any gambling) winnings on your tax returns, according to the IRS. Filling Out Your 1040 Tax Form for Winnings. There is no specific line on Form 1040 for gambling winnings. Your total sports betting winnings are reported as “other income’’ on Schedule 1, Line 8, which you attach to Form 1040. You will save money by paying taxes on your net winnings, rather than overall winnings, if you itemize deductions on your tax return. For more on the possibility of itemizing (which allows you to deduct some or all gambling losses), see the Writing Off Losses section below. If you need help reading your W-2G form, the amount of your reportable gambling winnings is listed in Box 1. The date won and type of wager are in Box 2 and 3. If federal tax was automatically withheld from your winning wager(s), the amount withheld is listed in Box 4. The Importance of Record Keeping. The significance of keeping accurate records of each gambling win and loss cannot be overstated. The IRS suggests bettors keep a diary of sports betting wagers and may require you to substantiate wins and losses, especially if you are able to deduct losses on your tax return. Your documentation should include all W-2G forms received in a given year; wagering tickets with dates, location, amount won or lost; who (if anybody) was with you at the time; canceled checks; and receipts from sports betting operators. If you bet online, sportsbooks provide a record of all of your wagers that can be easily accessed electronically. Keeping accurate records when betting at in-person sportsbooks is more difficult, but necessary. CHECK OUT: Want To See Your Potential Winnings From A Wager You Are Considering? Use Our Betting Odds Calculator To See The Payout. Writing Off Losses. The IRS requires bettors to report sports gambling winnings. Does that mean bettors can also deduct sports gambling losses? The answer is yes, but only if you itemize deductions on your federal tax return. In 2018, the Tax Cuts and Jobs Act nearly doubled the amount of the standard deduction. As a result, between 85 and 90% of taxpayers reportedly chose to take the standard deduction on their 2019 tax returns. That made them ineligible to itemize and deduct gambling losses. For taxpayers who itemize, deductions for sports betting losses cannot exceed winnings in any calendar year. So if you had $5,000 in sports betting winnings and $8,000 in losses, your deduction is limited to $5,000. The remaining $3,000 cannot be carried forward. The losses are reported on your Schedule A form, separate from your gambling winnings. Do not report your net profits on the “other income’’ line of Schedule 1. That is for total gambling winnings. Will I Still Need to Pay State Taxes? Depends on the state where you live. Residents of Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming do not pay taxes on any gambling winnings because none has a state income tax. Residents of New Hampshire and Tennessee are not taxed on gambling winnings because those two states only tax investment income and interest. In all other states, bettors must report sports betting winnings on their state income tax form. The tax rate varies by state. Some states have a flat rate individual income tax, others adjust rates depending on income level. For example, Colorado assesses a flat tax of 4.63%. California’s rate ranges from 1% for the lowest income level to 13.3% for incomes above $1 million. Is Filing as a Professional Gambler Different? Yes. But first let’s define what a professional gambler is. According to a 1987 U.S. Supreme Court ruling, “if one’s gambling activity is pursued full time … to the production of income for a livelihood, and is not a mere hobby, it is a trade or business.’’ In short, the professional must gamble with the intent to make a profit. Professional gamblers are treated as self-employed individuals. Rather than listing gambling winnings as ‘’other income,’’ they report winnings and losses on Schedule C, which also allows them to deduct several of their business expenses, such as Internet costs for online wagering, travel expenses and legal fees. But the same rule that applies to everyone else over losses also applies to professional gamblers. Deductions from gambling losses cannot exceed winnings in any given year and cannot be carried over. How Will the IRS Know if I Don’t Pay Taxes? If your sportsbook operator sent you a Form W-2G, it also sent a copy to the IRS. So the IRS is automatically aware of those gambling winnings. If you did not receive a W-2G form, the IRS says taxpayers are still required to report all gambling income. If the IRS is aware of gambling winnings that were not reported, the agency could simply tell you to report them. Or it may impose penalties and interest, adding to your tax bill. Hire a Tax Professional to Avoid Problems. If you’re not certain about any aspect of how to report gambling winnings (and losses), it’s always best to consult a tax professional to avoid potential mistakes. For a bettor who is declaring gambling winnings for the first time, tax preparation can be intimidating. Hiring a tax professional can help avoid confusion over IRS gambling rules, save time, and perhaps money. Top Betting Sites. 100% Welcome Bonus up to £50. Double the Odds, Paid in Cash. 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