{"id":65638,"date":"2018-07-27T03:55:23","date_gmt":"2018-07-27T10:55:23","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/gambling-with-an-edge\/?p=65638"},"modified":"2018-07-27T18:30:16","modified_gmt":"2018-07-28T01:30:16","slug":"outside-box-sports-wagering","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/gambling-with-an-edge\/outside-box-sports-wagering\/","title":{"rendered":"Outside The Box in Sports Wagering"},"content":{"rendered":"

One of the more exciting ways to view the expansion of legalized sports betting is to think about all the new options it will present to a sports bettor. After all, when the US experienced the proliferation of casino gambling from the late 1990s to the late 2000s, we saw a boom in new table games and new machine variations. This creates opportunities for casinos to reach more customers and also creates opportunities for advantage players to find new games to beat. We\u2019re going to see this within sports wagering as well. While some might think that legalized sports wagering across the US will closely resemble the microcosm of Las Vegas with only a few different companies and limited variety in bets that are offered. There are others who believe the opening of the floodgates will give rise to new ways to lay our money down on a sporting event.<\/p>\n

Let\u2019s explore some of the outside-the-box options that are beginning to show up in other legalized jurisdictions. I\u2019m going to leave it up to the reader\u2019s imagination to think of ways to beat these bets. As a quick disclaimer, I have no affiliation with any of these sites and purposely did not include any hyperlinks in this article. It is purely a tasting sampler of what’s to come in sports wagering.<\/p>\n

 <\/p>\n

FastPick<\/h5>\n

The entire industry of Daily Fantasy Sports (DFS) was predicated on finding a way to make it legal to wager on sports despite the restrictions that PASPA and UIGEA presented. Anyone who ever played DFS knew it was as close as they could get to legal sports wagering. In the past year, a startup DFS parlay site has emerged in the form of FastPick.<\/p>\n

On\u00a0FastPick, customers fill out a parlay card based on the performance of various players competing that day in professional sports. You can choose which player might have more fantasy points in one of the Head-to-Head matches listed. Or you can choose an over\/under on the total fantasy points that a listed player might have. Your parlay card can have a minimum of 3 legs and a maximum of 10 legs. If you go 3-for-3 on a 3-leg parlay, you get paid 5-for-1. If you\u2019re lucky enough to go perfect on a 10-leg parlay the payout is 500-for-1.<\/p>\n

For a recreational sports bettor, sometimes the world of DFS can be intimidating and frustrating. It\u2019s widely known that a small percentage of DFS players win a large percentage of the money. Basically, if you\u2019re not expert-level, the chance of profiting against other more advanced players with their spreadsheets and databases is extremely low. However, FastPick enables you to play against the house and is essentially a prop parlay card. The nice thing about parlay cards is that you can compound your edge when you find one. FastPick is currently licensed in New Jersey and Pennsylvania with plans to expand to more states.<\/p>\n

 <\/p>\n

PointsBet<\/h5>\n

If your sports betting experience goes back far enough you may have had a local bookie who offered \u201caction points.\u201d Essentially, you not only bet on who would win or lose, but by how much. The bigger the margin of victory, the bigger the profit. Conversely, the bigger the margin of loss, the bigger the monetary loss. To my knowledge, Vegas books have never offered these bets in a straightforward scale. Some have offered margin-of-victory props, but not in an uncapped multiplier sense. An Australian company emerged within the last year named PointsBet and\u00a0has been offering these wagers in Australia. Last week they signed deals to begin offering this format in New Jersey and New York. The latter requires the state to legalize sports betting.<\/p>\n

With PointsBet, a customer might wager that the Philadelphia Eagles will not only cover the -4 spread for their season opener against the Atlanta Falcons on September 6, but they could wager that for each point beyond 4 that they win by, they\u2019ll get $10. So if Philadelphia wins by 14, they get $100 (10 points beyond the line of -4). This is called spread betting, and while it\u2019s been done before elsewhere, this will be new to the legalized markets in the US.<\/p>\n

There will be a max win and a max loss so that a customer can\u2019t completely lose their shirt in a bizarre result. The potential for a large profit if their team wins big will be enticing to many. It\u2019s a lot\u00a0like options trading for sports bettors. Of course, as with\u00a0options, there\u2019s still a vig. You\u2019ll likely be betting Eagles -4.5 or Falcons +3.5 as your initial starting point. It\u2019ll be interesting to see how they progress in the U.S. market.<\/p>\n

 <\/p>\n

PropSwap<\/h5>\n

Bucking the trend, here\u2019s a company\u00a0that began in Las Vegas and has already been spreading into other markets. PropSwap operates as a secondary market for betting tickets. It allows customers to sell a wager they\u2019ve made before the event is completed. For instance, you bet on the Washington Nationals to win the World Series, but they\u2019ve been disappointing so far. You can sell your ticket on PropSwap to someone who might be a bit more optimistic that the Nats will\u00a0be able to turn it around. You set the price. Alternatively, you can buy tickets on PropSwap if you feel there\u2019s value to be had in a ticket offered for sale.<\/p>\n

Currently, you can post a ticket for sale on PropSwap from any state. You then mail the ticket to the PropSwap offices in Las Vegas. In order to buy a ticket you need to be located in Nevada, New Jersey, Pennsylvania, Connecticut, or Massachusetts. At least, that\u2019s the current list of approved states.<\/p>\n

Sellers control the price of their listed tickets and PropSwap takes a 10% commission if your ticket sells. They also charge a $10 fee to mail you a check. If you buy a ticket, they mail it to you and it\u2019s now your responsibility. Since PropSwap has been around for a couple years, there’s a decent amount of liquidity in the site now. However, don\u2019t expect to immediately find deals when you go looking to buy up some discounted futures tickets. Between the vig built into futures wagers, the PropSwap commission, and sellers over-valuing their tickets, deals are hard to come by. However, this idea is growing and I think we\u2019ll see more secondary markets for sports wagers in the future.<\/p>\n

 <\/p>\n

The Future<\/h5>\n

There’s tremendous headroom for growth in the sports wagering industry beyond the traditional sports book model. In New Jersey, for instance, each casino and racetrack has up to three online licenses they can subcontract out to other companies. It\u2019s doubtful that any casino would want to cannibalize their own sports book operation by having three other competing sports books on their license. They’re going to want to find derivative markets that will bring income without taking market share. As more states come online, they’ll look toward the early adopters, like New Jersey, to determine what’s\u00a0worked and what hasn\u2019t. I expect future news of betting exchanges, secondary markets, proposition betting, and sports fantasy to continue to develop. It\u2019s an exciting time to be interested in sports wagering and I\u2019ll continue to attempt to highlight developments here as they happen.<\/p>\n\"Facebook\"<\/a>\"twitter\"<\/a>\"youtube\"<\/a>\"instagram\"<\/a>","protected":false},"excerpt":{"rendered":"

One of the more exciting ways to view the expansion of legalized sports betting is to think about all the new options it will present to a sports bettor. After all, when the US experienced the proliferation of casino gambling from the late 1990s to the late 2000s, we saw a boom in new table […]<\/p>\n","protected":false},"author":26,"featured_media":63070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[19],"tags":[1790,1272,1756,72,1788,1793,304,1791,1156,1787,1789,174,271,1792],"yoast_head":"\nOutside The Box in Sports Wagering - Gambling With An Edge<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lasvegasadvisor.com\/gambling-with-an-edge\/outside-box-sports-wagering\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Outside The Box in Sports Wagering - Gambling With An Edge\" \/>\n<meta property=\"og:description\" content=\"One of the more exciting ways to view the expansion of legalized sports betting is to think about all the new options it will present to a sports bettor. 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