U.S. court nixes request for rehearing on sports betting | Reuters

“The sports lottery has

already — in three weeks — had more wagered than the entire

1976 Delaware sports lottery season.”

CHICAGO, Sept 29 Delaware’s appeal of a ruling

that its plan to allow betting on professional sports violates

a federal ban will not be heard, a federal court ruled on

Tuesday.

Hardiman was one of the three judges who ruled unanimously

in August that Delaware’s plan violated federal law.. The court opinion agreed with the leagues that

Delaware was generally limited to what it offered in 1976, when

it allowed gamblers to bet on winners of several NFL games.

A 1992 federal law known as PASPA prohibits betting on

sports, although that law was grandfathered in Delaware,

Oregon, Montana and Nevada, and allowed them to offer such

wagering if it was limited to plans the states had operated

between 1976 and 1990.

Markell signed the betting law in May, saying at the time

it would bring in $50 million and help close the state’s budget

shortfall, which for fiscal 2010 has been estimated at $800

million.

“It is important to remember that the NFL tried to shut

down Delaware’s sports lottery entirely, but today Delaware has

the only legal sports wagering east of the Rocky Mountains,”

Barlow said of the parlay betting. Jack Markell’s legal counsel,

said in a statement. Third Circuit Court of

Appeals, No. Court of Appeals for the Third Circuit, in court

documents signed by Judge Thomas Hardiman, denied the request

for a rehearing before the larger court.

The North American professional leagues for baseball,

basketball, football and hockey filed suit to block the state’s

plan, arguing it violated federal law and that it might taint

their sports with accusations of cheating.

Delaware could ask the U.S. The case is In re Office of the Commissioner of Baseball,

et al v. Jack Markell, et al, U.S. Supreme Court to take the case,

but Markell spokesman Joe Ragolsky said that was unlikely.

Delaware had planned to allow point-spread bets on

individual games in all major sports from three racetrack

casinos.

“Obviously, we are disappointed with today’s ruling,

Michael Barlow, Delaware Gov. “We realize that it is rare that the Third

Circuit will hear cases with all 12 active judges, but this was

an important issue for the state of Delaware and we thought the

state should have a chance to make its case at trial.”

The NCAA, or National Collegiate Athletic Association, also

joined the complaint by the leagues.

The state can offer parlay bets — which depend on the

outcome of several matches — on National Football League

games.

Delaware offered parlay bets on NFL games for a few months

in 1976. 09-3297.

(Reporting by Ben Klayman, editing by Maureen Bavdek)

The U.S

Sports Betting: How to Bet Parlays

The odds of the payoff are much less than the true odds. Should the Cubs also win, the bettor has turned a $10 wager into $46. While a parlay made against the point spread assumes a 50-50 chance for each team of winning, money line parlays do not. If the bettor places a $10 wager, they essentially would have a $10 bet on the Dodgers +160, which will return $26 should the Dodgers win, and then would have $26 on the Cubs -130. The true odds of hitting a 10-team point parlay are 1,023-1, while the payoff is generally around 600-1, so a parlay bettor is at a big disadvantage.

To read more about parlays, see Parlay Cards, Finding Correlated Parlays or Betting Baseball Parlays.

To put it in simple terms, money line parlays take the amount of your bet and place all of the money on one team and if that team wins, recalculates your bet amount on the next team, again placing your entire wager on that team.

There are basic types of parlays, those wagered against the point spread and those wagered using the money line. The ability to win a lot of money for a small bet is the primary reason parlays are popular with a number of sports bettors.

Money Line Parlays

Money line parlays do not use fixed odds, because the odds of winning vary greatly from team to team. The difference in the payoff is because the Dodgers were not given very good odds of winning.

Are Parlays Good Bets?

The simple answer is no, especially parlays involving point spreads or totals. In parlays involving point spreads, the payoff are fixed, while money line parlay payoffs are determined by the odds of each team.

Point Spread Parlays

The odds on a typical parlay involving point spreads, including totals, are generally something like:

Bettors should stick with straight bets when betting against the point spread or totals as it’s difficult enough to pick one winner, let alone two or more games and the odds you are asked to try and beat are nearly impossible to overcome in the long run.

2 teams 13-5

3 teams 6-1

4 teams 10-1

5 teams 25-1

6 teams 40-1

7 teams 75-1

8 teams 150-1

9 teams 300-1

10 teams 600-1

Sports Betting – How to Bet Parlays

Parlays are by far the most popular of the exotic wagers, as they offer the potential for a big payout from a small wager. All of your bets must win, or at least tie, in order for you to win.

What this means is that a bettor making a wager on a five-team parlay stands to win $25 for every $1 if all of their games win, while a correct eight-parlay will payout $150 for every $1 wagered. For example, the true odds of winning a three-team parlay when making point spread wagers are 7-1, while the payoff is only 6-1, and it gets worse as you bet more teams.

5 Hobbies That Give Your Brain a Workout

continue reading below our video

Money line parlay payoffs are calculated on the odds of the game, so there is no advantage or disadvantage in playing them.

By Allen Moody

For example, say a bettor likes the Los Angeles Dodgers +160 and the Chicago Cubs -130. The payoffs a bettor will receive should they win are quite different in the two. Contrast the $36 profit with the $26 profit a bettor winning a $10 point spread parlay on two teams would make. If you place a four team parlay, going 3-1 is no different than going 0-4. Simply stated, a parlay is a collection of two or more sides or totals that you bet on and all of them must win in order for you to win your bet. The chances of the a good baseball team with its ace pitcher on the mound defeating a mediocre opponent are going to be greater than 50 percent and the payout if the parlay hits will reflect this.

Updated

March 21, 2016.

U.S. court nixes request for rehearing on sports betting | Reuters

The court opinion agreed with the leagues that

Delaware was generally limited to what it offered in 1976, when

it allowed gamblers to bet on winners of several NFL games.

Delaware could ask the U.S. Jack Markell’s legal counsel,

said in a statement. Third Circuit Court of

Appeals, No. “The sports lottery has

already — in three weeks — had more wagered than the entire

1976 Delaware sports lottery season.”

The NCAA, or National Collegiate Athletic Association, also

joined the complaint by the leagues.

The U.S. Supreme Court to take the case,

but Markell spokesman Joe Ragolsky said that was unlikely.

CHICAGO, Sept 29 Delaware’s appeal of a ruling

that its plan to allow betting on professional sports violates

a federal ban will not be heard, a federal court ruled on

Tuesday.

The state can offer parlay bets — which depend on the

outcome of several matches — on National Football League

games.

“Obviously, we are disappointed with today’s ruling,

Michael Barlow, Delaware Gov.

The case is In re Office of the Commissioner of Baseball,

et al v. Jack Markell, et al, U.S. Court of Appeals for the Third Circuit, in court

documents signed by Judge Thomas Hardiman, denied the request

for a rehearing before the larger court.. “We realize that it is rare that the Third

Circuit will hear cases with all 12 active judges, but this was

an important issue for the state of Delaware and we thought the

state should have a chance to make its case at trial.”

The North American professional leagues for baseball,

basketball, football and hockey filed suit to block the state’s

plan, arguing it violated federal law and that it might taint

their sports with accusations of cheating.

Delaware had planned to allow point-spread bets on

individual games in all major sports from three racetrack

casinos.

Markell signed the betting law in May, saying at the time

it would bring in $50 million and help close the state’s budget

shortfall, which for fiscal 2010 has been estimated at $800

million.

Hardiman was one of the three judges who ruled unanimously

in August that Delaware’s plan violated federal law.

A 1992 federal law known as PASPA prohibits betting on

sports, although that law was grandfathered in Delaware,

Oregon, Montana and Nevada, and allowed them to offer such

wagering if it was limited to plans the states had operated

between 1976 and 1990.

“It is important to remember that the NFL tried to shut

down Delaware’s sports lottery entirely, but today Delaware has

the only legal sports wagering east of the Rocky Mountains,”

Barlow said of the parlay betting. 09-3297.

(Reporting by Ben Klayman, editing by Maureen Bavdek)

Delaware offered parlay bets on NFL games for a few months

in 1976