Sports gambling is growing in popularity. Hell, it’s not just growing it’s a runaway freight train barreling down the tracks 100mph operating with a get on board or get the hell out of the way mentality. However, every time an industry experiences rapid growth the learning curve lags for members of the general public.
Our main goal at Bet the Board remains the same as it’s been since day 1; educate, entertain, and inform those with even a passing interest in sports betting. The genesis for my post today stems from a podcast appearance a few weeks back with Jimmy Traina that got me thinking. Traina, a sports gambling enthusiast himself, was candid in asking industry related questions that I was more than happy to answer before it hit me like a boulder; there are a lot of people who love betting sports despite having major misconceptions about the industry. I’ve wanted to touch on this topic for a while, Jimmy just gave me a nudge across the finish line to sit my ass down and expound on it before football games that count roll around.
Here are 5 ways everyone can make themselves (and those around them) sound smarter when discussing gambling. Smarter bettors and informed media will help our industry gain the increased credibility it desperately needs. To some of my favorite media colleagues you might want to avert your eyes if much of this content hits too close to home.
Know what defines an “upset”
This drives me nuts! UPSETS ARE CLEARLY DEFINED BY THE POINT SPREAD, NOT BY WHAT BIASED VOTERS RANK TEAMS IN THEIR POPULARITY POLLS. It’s not difficult to go online or open the newspaper (if people still do that) to get a sense of what real experts think of today’s action. When an “unranked” team listed as a seven-point favorite beats a team in the supposed top 25 from an inherently biased poll, that doesn’t constitute an upset. Thankfully, there are prominent media personalities championing our cause already for redefining the terminology, yet it won’t stop me from beating the drum until the whole world buys in.
Differentiate between Vegas and Offshore
This is pretty straightforward but seems to cause confusion; Vegas is not the only place in the world where people bet sports. Hell, it’s not even the originator for most point spreads in the most popular American sports. Now, there are plenty of examples where some of the sharpest bookmakers in Vegas hang numbers first and shops around the world follow their lead. That said, it’s not my point here; rather that there are two different factions (at minimum) in play operating under different sets of guidelines.
The most pronounced difference between the two different jurisdictions is apparent when it comes to prop bets. Nevada Gaming control limits oddsmaker’s creativity domestically to outcomes they define as having a clear winner. It wasn’t until recently that bettors could even wager on the NBA and NFL drafts, MVP races, or other prominent sports awards decided by voters. Conversely, offshore books are able to hang a line on just about anything their heart desires. From Michael Phelps racing a shark to the length of the national anthem or the highly popular Game of Thrones, nothing is off limits. I don’t expect recreational bettors to know exactly what the Gaming Control Board allows but next time you reference the color of Superbowl Gatorade, the O.J. Simpson Verdict, or presidential elections understand these are bets only allowed offshore so referencing the “Vegas” line here is completely inaccurate. Just don’t fall trap when referencing everything sports betting as emanating from Vegas. It’s unfortunate, but many have been lead astray because “Vegas” is now used as a buzzword. “Vegas” is now used for clickbait. “Vegas” is now used as a crutch for laziness. “Vegas” is now used as a way to not credit sources properly. I get it, it’s fun to say.
Proper sourcing of lines
When we wrote (present tense for some) term papers in college one of the first things a professor drummed into your head was the importance of properly sourcing information. It’s funny that in an academic setting you can get kicked out of school for plagiarism, yet in sports media wrongfully attributing betting lines or purposefully taking credit for the work of others is a common practice. I need to give credit where credit is due; ESPN excels at sourcing their numbers on full screen graphics and it’s something I take great pride in doing with my Race Hub producers, as well. I don’t care if the numbers come from Westgate, Southpoint, BetOnline.AG, Bovada, or your local convenient store … just properly attribute them. This pet peeve of mine applies more to futures, unique props, win totals, etc. where every shop in the market is offering a different price. I don’t care where you get numbers from, but to all TV producers, TV hosts, and radio personalities just credit the sportsbook providing you with said line. Also, for actual betting markets make sure your numbers come from an actual book, not someone pawning off other’s information as his or her own if they don’t actually accept bets.
**This does come with a caveat. If you’re talking about an individual game where every sportsbook from here to Hong Kong has the Patriots -3 over the Falcons than that becomes general knowledge with no sourcing required.
Vet your talent
When we flip on our favorite sports we tend to trust the commentators and analysts as experts in their respective field. From established broadcasters that worked their way up through the ranks to those HOF analysts that spent time in the trenches; you can’t put a price on actual experiences they articulate for the audiences. Unfortunately, when it comes to gambling everyone is somehow equipped to peddle content as a so-called expert. Think of it this way: would you want Payne or myself teaching you how to bake a cake on the next podcast? Well, I don’t want Rachael Ray telling me who to bet either.
Experience in gambling is learned different ways, from those that started betting games before they hit puberty, to seasoned oddsmakers, to those running their campus bookmaking operation. What continues to frustrate many is the endless parade of personalities that don’t actually bet games themselves but are handed airtime and lauded as experts. Learn to hold those talking about gambling to the same standards you do for political, entertainment, and sports opinions. Would you trust a financial advisor that didn’t invest in his own advice? Gambling is no different…
Entertainment for entertainment’s sake
Gambling is a source of entertainment for 99% of people – and If you’re a personality using it to drive eyeballs through social media or network programming there’s nothing wrong with that, just treat it as such. All I ask is that people preface their content accordingly because my biggest fear is that the wrong people consuming content confuse large social influence with expertise. Going 1-10 doesn’t hurt the folks not actually betting, but that college student out there listening to content expecting expert analysis isn’t so equipped to overcome that “just for fun” radio or television segment. I’m the world’s biggest proponent of sports gambling legalization, but I also understand the addictive and dangerous nature of this activity for some. Using point spreads or picks for content is definitely a worthwhile lens through which to view sports but don’t misrepresent yourself as the next Ace Rothstein.
How do we feel about betting at Bet the Board? We treat it as a business; always playing for keeps in our quest to make each of you a smarter bettor every time you listen to one of our podcasts or read an article from writers we endorse.
