Delaware, Nevada, Oregon, and Montana are the only four states in America which have state laws regulating sports betting, according to Chad Millman of ESPN.
Chad Millman's Sports Betting Story
In 1992, a national law was passed, outlawing sports betting. The law was given a generic title, the 1992 Professional and Amateur Sports Protection Act. This Act specifically prohibited bookmaker, which should not be confused with bookkeeping.
Bookmakers, "bookies," as they're often called, manage numerous bets. These bets are normally based on sporting events but a lot of people can even find bookies to bet on Oscar and Emmy Award winners. Bookies have to seek out a multitude of participants in order to balance out their bets and make money.
These bets normally deal with "odds," or chances for a certain team or player to accomplish a said goal. Commonly, one would place a bet on a team to emerge victorious and bookies lure people into betting on the less-favorable team, the "underdog," to win the game against the favorite.
Another common form of gambling deals with what people refer to as "sports cards." They're not actually cards - a lot of times they're printed on the same material used for sales receipts. Participants would pick 'x' amount of teams to win each week and the more teams a person bets on to win, the more money they would receive. Here's the catch, though: if a participant bet on the favored team, that team would have to win by a certain amount of points, they would have to "cover the spread."
For example, when the Buffalo Bills played the Pittsburgh Steeler two weeks ago, the Bills were actually favored to defeat the Steelers. Their "spread" was calculated by the bookie at a value of -3, which means 3 points are deducted from Buffalo's final score and if they still had a higher score than Pittsburgh afterward, Buffalo will have been a winning bet. Another catch is that if the final score ends up tying, (if Buffalo won by exactly 3 points) then the result will have been considered a tie and I wouldn't have been paid because ties result in a lost bet. Furthermore, if I were to bet on the underdog, that team simply needed to win in regulation - most bookies don't include overtime.
All in all, sports gambling was a lot more complex before the creation of Fantasy Sports. It is also a lot easier to control your odds of winning with Fantasy Sports because participants literally "draft" players for their team. So, if someone were to have done multiple hours of research and studied a variety of different pre-season and off-season progress of certain players - that participant would have a much better chance at winning.
There are no odds. There are no loopholes for bookies to hide behind. There is a clear-cut way of winning and that is to make the Fantasy Sports playoffs and emerge victorious over your opponent for that particular week.
Friday, November 22, 2013
Friday, November 15, 2013
Status in Society
Every society has some type of social structure. For example, in American society, our social structure is highly based on economics because everything revolves around money in America. Everything. This could potentially be one reason gambling is so prevalent with lower-income individuals - they want to advance within the social hierarchy. Fantasy Football even creates a social structure within certain groups of friends.
My team, "Rally the Wagons," is doing fairly well in my all-family Fantasy Football league. I'm 9-1 with that one loss being a result of players severely under-performing for that particular week - I'm looking at you, A.J. Green!
I'm really tearing things up and as a result, I've found more family members asking me for advice. I didn't think of it much, at first, but it got a little crazy when we started discussing the payouts for the League.
Normally, the payouts should have been set out before the actual draft at my grandmother's house. Unfortunately, that didn't happen since half the League showed up an hour late. We were all pressed for time and went straight into the draft without discussing payouts.
I am the second-youngest participant in the League and normally, in my family, we ask the older guys for their input. Some of my uncles are upwards of 50 years (young!) and have dealt with this Fantasy League well before I joined. Yet, my opinion is constantly being asked for and I wondered why.
So, I asked my cousin who just recently celebrated his 30th birthday why he cared what I thought. He replied, "You're nine-and-one, so you're like Jesus, right now." He jokes around a lot - my family doesn't consider my opinion to be the word of God - it's a clear hyperbole. The fact is, simply because I'm doing well in Fantasy Football, my opinion matters more.
Uncle Ken, the senior member of the League who serves as the Commissioner, actually wanted my opinion on the payouts. (In return for some friendly advice on WR options on free agency) Uncle Ken sits at 3-7.
So, naturally, I advocated that the team with the best regular season finish should receive $20 - the initial entry fee into the League - and that this should continue for as long as the League exists. It serves my best interest, right now, plus it's just unfair that someone could do so well and not at the very least be rewarded with, essentially free entry into next year's League. Furthermore, it's possible to be knocked out after the first week bye in the playoff tournament simply because your players had an off week. It makes sense, right?
Another thing to think about... if I wasn't doing so well, would my opinion be as valued as it currently is? This is basically how news outlets function in society. The people at the top make the decisions based on their values. The executives make the decisions - they decide the payout, the rules, who is allowed in... much like a Fantasy Football League is run. Fantasy Football is a perfect example of a corporation within American society.
My team, "Rally the Wagons," is doing fairly well in my all-family Fantasy Football league. I'm 9-1 with that one loss being a result of players severely under-performing for that particular week - I'm looking at you, A.J. Green!
I'm really tearing things up and as a result, I've found more family members asking me for advice. I didn't think of it much, at first, but it got a little crazy when we started discussing the payouts for the League.
Normally, the payouts should have been set out before the actual draft at my grandmother's house. Unfortunately, that didn't happen since half the League showed up an hour late. We were all pressed for time and went straight into the draft without discussing payouts.
I am the second-youngest participant in the League and normally, in my family, we ask the older guys for their input. Some of my uncles are upwards of 50 years (young!) and have dealt with this Fantasy League well before I joined. Yet, my opinion is constantly being asked for and I wondered why.
So, I asked my cousin who just recently celebrated his 30th birthday why he cared what I thought. He replied, "You're nine-and-one, so you're like Jesus, right now." He jokes around a lot - my family doesn't consider my opinion to be the word of God - it's a clear hyperbole. The fact is, simply because I'm doing well in Fantasy Football, my opinion matters more.
Uncle Ken, the senior member of the League who serves as the Commissioner, actually wanted my opinion on the payouts. (In return for some friendly advice on WR options on free agency) Uncle Ken sits at 3-7.
So, naturally, I advocated that the team with the best regular season finish should receive $20 - the initial entry fee into the League - and that this should continue for as long as the League exists. It serves my best interest, right now, plus it's just unfair that someone could do so well and not at the very least be rewarded with, essentially free entry into next year's League. Furthermore, it's possible to be knocked out after the first week bye in the playoff tournament simply because your players had an off week. It makes sense, right?
Another thing to think about... if I wasn't doing so well, would my opinion be as valued as it currently is? This is basically how news outlets function in society. The people at the top make the decisions based on their values. The executives make the decisions - they decide the payout, the rules, who is allowed in... much like a Fantasy Football League is run. Fantasy Football is a perfect example of a corporation within American society.
Wednesday, November 13, 2013
ESPN - Kings of Marketing
What do Americans care more about than anything else regarding the media? No, it's not the future of their country. No, it's not breaking news in their local communities. Their top concern regarding the media lies within the world of sports.
Sports media networks such as ESPN thrive on supplying news regarding this hot topic in American society better than anyone else. It's the most popular sports site in America and anyone who has ever looked at the site would understand why - there are articles and updates about nearly every single player on every single sports team in professional sports.
http://espn.go.com/
ESPN also generated a lot of traffic to their site with the creation of "Fantasy Sports." Fantasy Football is the most commonly played Fantasy sport on the site. The initial creation and coding of Fantasy Football most likely took a lot of work, costing a decent bit of money. The game was a huge hit and drew in a large following, allowing ESPN to charge internet advertisers more considering more people would see ads on the site.
ESPN has made it easy for newcomers to get involved, as well, providing a variety of "Beginner's Videos" hosted by ESPN Fantasy Footbal analyst, Matthew Berry.
http://games.espn.go.com/ffl/resources/help/content?name=introduction-videos
Fantasy Sports has become so popular, entire sections for "Fantasy-related News" were constructed and placed on ESPN's website.
http://games.espn.go.com/frontpage/
People are so involved with Fantasy sports and so competitive, everyone wants an edge over their opponent. As stated in a previous post, Fantasy sports has become a huge game of sports gambling. Everyone wants to win because most leagues have some kind of entry fee with payouts going to the top players at the end of the season and playoffs.
People are so determined to win, ESPN has even created "insider," a subscription-based guide to Fantasy sports. One can purchase "insider" by paying a membership fee, giving them a free subscription to ESPN magazine as well as, exclusive Fantasy tips and tricks.
http://insider.espn.go.com/insider/benefits
As a recap, ESPN tailored their news to cover a high-demand area, sports entertainment. They created a webpage, generating tons of internet traffic, allowing them to generate a higher profit from internet advertisers. In order to increase this traffic even more, ESPN created Fantasy Sports, which exploded and became a large part of sports gambling. Understanding people's desire to win, ESPN began providing "expert analysis" on a subscription-based method of payment.
ESPN tailored their product, sports news, to capitalize on a demand for sports news. ESPN generated internet traffic, generating revenue from internet advertisers. ESPN amplified those profits with the creation of Fantasy sports and even took that further by creating a "members club," providing the best news for those who pay extra. Checkmate. Well played, ESPN. Well played.
Sports media networks such as ESPN thrive on supplying news regarding this hot topic in American society better than anyone else. It's the most popular sports site in America and anyone who has ever looked at the site would understand why - there are articles and updates about nearly every single player on every single sports team in professional sports.
http://espn.go.com/
ESPN also generated a lot of traffic to their site with the creation of "Fantasy Sports." Fantasy Football is the most commonly played Fantasy sport on the site. The initial creation and coding of Fantasy Football most likely took a lot of work, costing a decent bit of money. The game was a huge hit and drew in a large following, allowing ESPN to charge internet advertisers more considering more people would see ads on the site.
ESPN has made it easy for newcomers to get involved, as well, providing a variety of "Beginner's Videos" hosted by ESPN Fantasy Footbal analyst, Matthew Berry.
http://games.espn.go.com/ffl/resources/help/content?name=introduction-videos
Fantasy Sports has become so popular, entire sections for "Fantasy-related News" were constructed and placed on ESPN's website.
http://games.espn.go.com/frontpage/
People are so involved with Fantasy sports and so competitive, everyone wants an edge over their opponent. As stated in a previous post, Fantasy sports has become a huge game of sports gambling. Everyone wants to win because most leagues have some kind of entry fee with payouts going to the top players at the end of the season and playoffs.
People are so determined to win, ESPN has even created "insider," a subscription-based guide to Fantasy sports. One can purchase "insider" by paying a membership fee, giving them a free subscription to ESPN magazine as well as, exclusive Fantasy tips and tricks.
http://insider.espn.go.com/insider/benefits
As a recap, ESPN tailored their news to cover a high-demand area, sports entertainment. They created a webpage, generating tons of internet traffic, allowing them to generate a higher profit from internet advertisers. In order to increase this traffic even more, ESPN created Fantasy Sports, which exploded and became a large part of sports gambling. Understanding people's desire to win, ESPN began providing "expert analysis" on a subscription-based method of payment.
ESPN tailored their product, sports news, to capitalize on a demand for sports news. ESPN generated internet traffic, generating revenue from internet advertisers. ESPN amplified those profits with the creation of Fantasy sports and even took that further by creating a "members club," providing the best news for those who pay extra. Checkmate. Well played, ESPN. Well played.
Monday, November 4, 2013
Sports Gambling Takes a Different Form
Gambling is a staple in American society. Casinos are springing up left and right with certain casinos managed by Native Americans being given tax deductions. Local news programs are filled with numerous different lottery drawings. Facebook has numerous simulated gambling games, like Texas Hold 'em Poker.
One of the largest sports networks, ESPN, produces a variety of Fantasy Sports games. People bet on these all the time. Sirius XM radio has an entire station dedicated solely to Fantasy Football, with guest appearances made by Maurice Jones-Drew, a running back for the Jacksonville Jaguars.
Other professionalo athletes and celebrities also make appearances on various different programs. That list can be found here: Sirius XM Radio "Fantasy Sports All-Stars"
As with many other groups of friends in our society today, I participate in a few different Fantasy Sports leagues. I have a family Fantasy Football league on Yahoo! (currently ranked #1 at 7-1) I also participate in a Fantasy Football league with my friends. (6-2 and tied for 1st in my division) Fantasy Basketball has also just recently started, along with the actual NBA season.
The amount of money spent on these Fantasy sports leagues is astounding. I've personally known family and friends participating in leagues with an entry-fee of $200. Funnily enough, it's illegal to bet on professional sports except for the few businesses in Las Vegas which are legal for some reason. Yet one of the rapidly-growing outlets for sports gambling remains completely unchecked and is even advertised by the NFL and media outlets like CBS, who each have their own Fantasy Sports sites.
One of the largest sports networks, ESPN, produces a variety of Fantasy Sports games. People bet on these all the time. Sirius XM radio has an entire station dedicated solely to Fantasy Football, with guest appearances made by Maurice Jones-Drew, a running back for the Jacksonville Jaguars.
Other professionalo athletes and celebrities also make appearances on various different programs. That list can be found here: Sirius XM Radio "Fantasy Sports All-Stars"
As with many other groups of friends in our society today, I participate in a few different Fantasy Sports leagues. I have a family Fantasy Football league on Yahoo! (currently ranked #1 at 7-1) I also participate in a Fantasy Football league with my friends. (6-2 and tied for 1st in my division) Fantasy Basketball has also just recently started, along with the actual NBA season.
The amount of money spent on these Fantasy sports leagues is astounding. I've personally known family and friends participating in leagues with an entry-fee of $200. Funnily enough, it's illegal to bet on professional sports except for the few businesses in Las Vegas which are legal for some reason. Yet one of the rapidly-growing outlets for sports gambling remains completely unchecked and is even advertised by the NFL and media outlets like CBS, who each have their own Fantasy Sports sites.
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