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In May 2018, the U.S. Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA)—the federal law banning sports betting in most states. Anticipating that decision, New Jersey legalized sports betting almost immediately after the verdict, while other states utilized 2019 to draft and pass sports betting. Double Down Double down is a blackjack term and is the name of one of the decisions that a player can make as the game goes on. In most variants of blackjack, the player is allowed to double his initial bet. DoubleDownSports.wordpress.com - Sports Betting Picks - Double Down Sports Why Use CapperTek to Buy Sports Picks? Why Use CapperTek to Sell Sports Picks? View Only Profitable Other Sports. Aspire Global International LTD (or 'The Company') is a company registered Double Down Gambling Strategy in Malta for the purposes Double Down Gambling Strategy of operating and offering of online and mobile application games and sports betting. About The Double Down The Double Down was launched to provide a hub for all the latest news and information across a wide range of sports, betting and technology industries. Our team bring decades.
We live in a society where greed and the desire to make as much money as possible is the new norm. In the sports betting industry, it is no different. Bettors are very rarely satisfied with a modest 1-0 or 2-0 day, while profiting a small amount. Instead, we have terms like “double bet” where bettors decide to risk more than they normal would on a single bet and try to increase the bankroll with one big payout. If they are successful in doing so, great. If not, the bankroll suffers a major hit and it’ll be much harder to make up the lost money. This is why bettors should tread carefully when thinking about making a “double bet”
What Does Double Bet Mean?
If you hear someone using the term “double bet” in reference to sports betting, you should probably clarify the context in which they are using that term. A “double bet” can mean two different things from two different people. One usage is more common in North America, while the other is seldom used here, but more common in Europe.
Let’s take a look at the North American meaning first. If you hear the term “double bet” used on this continent, it is referring to a bet in which the handicapper decides to double the amount of what they would normally bet. This is also known a “double pop” or pressing your bet. For example, if you normally bet $100 on a game and you absolutely love a game or team for whatever reason, you would “double bet” them and wager $200.
In other markets, a “double bet” is generally used to describe the simplest form of a parlay, which is a bet on two teams or individuals. In order to win this bet, you would have to pick both games correctly. The good thing about a parlay is that you can parlay just about any betting option you want – a point spread, the money line, totals and so on.
Are Double Bets Worth Making?
If we are talking the North American meaning of “double bet” then yes, making double bets are worth it when the situation asks for it. I am a big believer that bankroll management is crucial to surviving as a serious bettor. However, I understand the process of building your bankroll is gruelling, so I would support anyone who decides to make a “double bet” if they absolutely love the situation. Don’t get me wrong, every situation can turn into a disaster in the blink of an eye, which is why these “double bets” should be very infrequently made.
In the European sense of the meaning, then some “double bets” are much more attractive than others. For example, a money line parlay is a better bet in most cases than a point spread parlay. Money line parlays are calculated by multiplying the payouts of each individual game, so the total payout reflects the risk involved. If you are betting into money line odds that are good, the parlay payout will be good. With a point spread parlay, the odds are generally fixed and much lower than they should be. A two-team parlay has four possible combinations – you can win both games, win the first and lose the second, win the second and lose the first or lose both. Each outcome is just as likely to happen as the others. In order for you to break even over the long term with this style of bet, you would need to get 3/1 odds, instead of the typical 13/5 odds. Should you feel the need to “double bet” and indulge in the parlay option, you need to understand that you are making a bet in which the sportsbooks have a real significant edge, both at the present time and over the long term.
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Many states have passed or proposed sports betting legislation, and 2020 will see this trend continue, Cadwalader attorneys say. They discuss this rapidly expanding industry and predict that the stage is set for legal sports betting's popularity to surge in 2020.
In May 2018, the U.S. Supreme Court overturned the Professional and Amateur Sports Protection Act (PASPA)—the federal law banning sports betting in most states.
Anticipating that decision, New Jersey legalized sports betting almost immediately after the verdict, while other states utilized 2019 to draft and pass sports betting legislation, setting up the groundwork for its success. Accordingly, the stage is set for legal sports betting's popularity to surge in 2020, as states, betting operators, sports leagues, and bettors usher in a nascent multibillion-dollar industry with unlimited potential.
The Sports Gambling Gold Rush at the State Level
As more states have ushered in legal sports betting operations, the stigmatization of sports betting has been reduced. Since the Supreme Court abolished the federal ban on sports betting in its May 2018 decision in Murphy v. NCAA, 14 states have legalized sports betting while another seven (including Washington, D.C.) have passed legislation but do not yet have the infrastructure necessary to make it operational. Those states represent nearly every region of the country, with the Eastern part of the U.S. leading the charge.
In 2020, the face of legalized sports betting in the U.S. will continue to evolve and expand. A number of remaining states are moving toward legalization, and at least 12 states have active legislation pending.
Issues that consistently are at the forefront of state legislative debates include whether and how to allow mobile sports betting, where to permit brick-and-mortar betting locations, whether to pay integrity fees to professional sports leagues (i.e., taxes on bets causing sports books to pay fees to leagues), and how to overcome the stigma of betting.
Leagues and Clubs Ink Betting Partnership Deals
With a growing number of states legalizing sports betting, professional sports leagues are less concerned about ostracizing fans and have helped push sports betting into mainstream consumerism. Until recently, American-based sports leagues would not consider calling a casino or a sports book an 'official partner,' a relationship long-considered far out-of-bounds because of the risk to the integrity of their games. Today, nearly every league and many teams have announced casino or gaming sponsors.
Many are brand sponsorships where leagues use logos to promote the company but not a specific type of gambling, especially not sports gambling or sports books. But the times they are a-changin', and U.S. professional sports leagues will soon actively promote sports gambling.
In 2020, the PGA Tour will roll-out on-site sports betting (likely app-based) at several of its tournaments, thrusting the Tour's integrity program into the spotlight. Individual golfers can single-handedly disrupt the integrity of the sport, and as golf gambling becomes more widespread and players get closer to the action, the Tour must be extremely vigilant.
Additionally, in-stadium sports betting is set for takeoff in Washington, D.C., and will transform the game-day experience by allowing the most zealous or casual fans maximum engagement to the sport being played in front of them.
Wire Act Makes News, But DOJ Enforcement Stays Quiet
In early 2019, the Department of Justice released an opinion proclaiming that it would soon apply the Wire Act to non-sports gambling. But the DOJ opinion, which does not carry the force of law, reiterated the DOJ's stance on prosecuting sports betting businesses: The Wire Act prohibits companies in the business of betting from using interstate wire transmissions to place sports bets or send information assisting in the placing of sports bets.
As states legalize sports betting and the market for online and app-based wagers grows, the DOJ could bring enforcement actions using the interstate nature of online sports betting as its hook.
The Wire Act has since taken on heightened importance because the future of sports betting in the U.S. rests with mobile or app-based betting whereby signals for every online bet likely cross state lines. Even customers in New Jersey using a New Jersey-based app to gamble on sports might have their data travel to New York or Pennsylvania, therefore implicating the Wire Act.
Nevertheless, the Supreme Court has since green-lighted states to pass and implement sports betting operations and, to date, the DOJ has not shown an appetite to attack legal online sports betting.
Vegas Is Sill King, But New Jersey Gives Chase
Since the Supreme Court's landmark decision, consumers legally wagered more than $7.7 billion on sports bets in Nevada and more than $5.2 billion in New Jersey. Those impressive figures further signal Americans' shift away from the negative stigma of sports betting, and there is no telling how big and fast sports betting in America may grow.
As more states enter the legal betting foray, expectations are that sports betting revenue in the U.S. could increase exponentially as accessibility to betting opportunities rapidly increases. But that bullish outlook rests on sports betting businesses creating innovative betting platforms and improving accessibility to legal betting options, thereby transitioning customers of illegal offshore sports books to permissible, state licensed alternatives and generating new customers, with no previous sports betting experience.
DraftKings Is Set to Make Its Public Debut
Before the turn of the New Year, DraftKings, a daily fantasy sports and sports betting operator, announced plans to go public. The IPO will reportedly value DraftKings at $3.3 billion.
The real news is not that DraftKings' IPO perhaps turns the corner on a disappointing year of public company debuts. Rather, we will soon see DraftKings' 'ticker' scroll across the bottom of every finance television channel, further implanting sports betting's place in modern American society.
Conclusion
States, sports leagues, and fans across the country have sparked the rapidly expanding sports betting industry. As the stigma around sports gambling wanes among fanatic and casual sports fans, all bets point to 2020 unleashing sports betting as a runaway freight train.
Originally Published by: Bloomberg Law
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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