How to Bet on Sports
The emergence of legal sports betting in New Jersey has opened the door for sports fans across the state to start placing bets on their favorite sports teams. Check out our guides to get started with sports betting. Learn the ins and outs of sports gambling while discovering the best ways to make a profit.
If you live in the state of New Jersey or plan to visit soon, read on for sports betting tips and online betting information. Whether you are new to sports betting or looking for some advanced sports betting ideas, this New Jersey Sports betting guide will help you with the planning, strategy concepts, and analysis techniques to improve your sports betting experience.
Legal Sports Betting in New Jersey
A US Supreme court decision in 2018 cleared the way for each state to decide on the legal framework and types of sports betting allowed within their respective state borders. Nevada had long been the only US state to provide the service and reliability of legal sports betting. In June 2018, the state legislature in New Jersey granted the Atlantic City casinos, and several racetrack locations, sports betting licenses.
Very importantly, the New Jersey sportsbooks are also licensed to offer online wagering. That means you can install a sports betting app on your internet accessible phone and you’re ready to join in on the action. Online action includes the full range of bet types: spread games, money-line wagers, point total bets and prop bets. Online betting sets the stage for live betting action, that can really add to your sports betting fun.
- Betting for Fun vs Profit
- Types of Sports
- Types of Wagers
- Understanding Odds and Payouts
- Understanding Probability
- Finding Value in Odds
- Basic Techniques
- Strategy for Beginners
- Advanced Strategy
- Strategy for Each Sport
- Managing your Bankroll
- Choosing Where to Bet Online
- Mobile Betting Apps
- Sports Betting Bonuses
- Recommended Betting Sites
- NJ Sports Betting Laws
- Player Safety
Betting for Fun vs for Profit
Now that betting on sports events is legal and convenient you can choose a wagering approach for entertainment or take a long-term business approach to turn a consistent profit.
Every sport, even regular season baseball, can become much more exciting when you have even a small amount riding on the outcome. The intent of the legal change was to allow adults to have the full entertainment value of sporting events to include a wager on the outcome. But let’s face it - losing is never fun.
Types of Sports to Bet on in New Jersey
Online sportsbooks and mobile wagering apps take bets on a wide variety of sporting events. This includes professional athletic events, such as the National Football League (NFL), National Basketball Association (NBA), Major League Baseball (MLB) and the National Hockey League (NHL).
It also includes every collegiate football and basketball conference, except the local colleges which are prohibited.
Bets can be placed at sportsbooks for Olympic and other international sports competitions. If there is a professional contest or just about any major college sporting events scheduled, there are online sportsbooks and mobile apps ready to take your wagers.
The most popular betting events include the NFL, NBA, and MLB. It is important to look at types of wagers, betting concepts and winning strategies for the most popular events to gain a solid understanding of how to bet on sports.
Betting on Football
Football is easily the most popular sport to bet on across the nation. New Jersey is no exception. Football games bring in a lot of betting activity because the season only lasts from September to February.
The most common bets in football are not standard moneyline wagers. Choosing which team you believe will win will typically yield poor odds.
Instead, most bettors prefer to make point spread wagers. This is why you’ll often read articles about NFL teams and ‘covering the spread’.
What is the Point Spread Wager?
As the most common bet in football (and in many other sports), the point spread wager will likely be the bet you make most often.
For this example, we’re going to pretend the New Orleans Saints are playing the Carolina Panthers.
When you look up the bet you find that New Orleans is -8 and Carolina are +8. What this means is for betting terms New Orleans has an eight-point advantage. To cover the spread they need to beat the Panthers by at least eight points in order for those who bet on New Orleans to win the bet.
If they beat Carolina by three points, you lose the bet because New Orleans didn’t cover the spread.
In a game like football, sportsbooks are looking to create equal favorites and to reduce the chances of a push.
So even in a garbage game with two 0-15 teams, the point spread wager makes it still worth watching.
Betting on Basketball
Basketball is the second most popular sport for gambling in the US. The season is long and there are far more games than in the NFL, thus offering ample opportunity to gamble. Basketball betting typically takes place mainly in the NBA, but there’s also a flourishing market in college basketball.
Again, point spread wagers are extremely common. However, the close nature of many basketball games makes the moneyline wager (or win bet) a highly popular option.
Most newcomers to basketball gambling should opt for match bets, so you don’t lose your bet simply because the match is a draw and the game goes into overtime.
Exotic Bets in Basketball
Basketball is one of the few sports that has a range of exotic betting markets. You have markets where you can bet on which teams are going to make the playoffs or which team is going to win it all.
Basketball takes this one step further. The winner of the season MVP award, as well as Rookie of the Year, are highly popular markets. Betting on basketball markets like these is a great way to follow one player and potentially win big.
These types of markets do heavily fluctuate, so betting on them is recommended for basketball fans who keep their fingers on the pulse of the season.
Betting on Baseball
Baseball is another of America’s ‘big four’ sports. Betting on baseball can be as simple as you like. You can bet on the team you want to win, bet on who will be in the playoffs, and put your money on the team you believe will win the World Series.
However, baseball can be a complex game. That has also led to a range of highly specific bets, such as how many runs will be scored per quarter.
Betting on Baseball? Look at the Variables
Unlike other sports, baseball is more heavily influenced than any other by specific stadiums and the environmental conditions on the day of the game. Successful betting on baseball requires you to understand this so you have a higher chance of winning, particularly when it comes to point spread wagers.
For example, if you’re betting on a high number of runs per game, you’d be looking to bet on matches held at Coors Field or Chase Field. On the other hand, low-scoring games tend to happen at AT&T Park in San Francisco and Safeco Field in Seattle.
This is because all baseball stadiums have different dimensions.
Environmental conditions also have to be taken into account. High humidity means the ball will travel further through the thinner air. High winds could mean more runs as it’s much harder to get caught out.
The impact of these conditions makes baseball a much harder sport to successfully bet on.
Betting on Ice Hockey
Betting on ice hockey is a relatively simple prospect. There are no draws, most games are close, and the same wrinkles that apply to a sport like baseball don’t apply here.
The standard bets in ice hockey are moneyline bets, point spread wagers, and total goals scored in a match. You can also make season-long bets on which team you think will win the Stanley Cup.
The most popular betting markets are those in the NHL, but there’s also a growing market for the Kontinental Hockey League (KHL), which consists of teams from countries like China, Finland, and Belarus.
What Do You Need to Know About Betting on Ice Hockey?
Ice hockey is more about understanding the teams. The goaltender has a disproportionate effect on the whole team. A terrible team with a great goaltender can have a lot of success throughout the season. Before betting on any team, make sure you know the goaltenders.
The stadiums, due to their enclosed surroundings, also play a major factor. Fans can heavily influence games in ice hockey, so it’s important to know which teams are strong at home.
For example, the Anaheim Ducks score 1.15 more goals at home than when they’re on the road. So you wouldn’t want to bet against a team like that at home.
Betting on Golf
Golf is a very simple sport to bet on because most bets revolve around choosing the player who will win the tournament. Players can also bet on whether a player will finish in the top 5, the top 10, and the top 20 (in the bigger tournaments).
There are also bets on the winning margin.
Due to the fact, golf has much larger fields than the big four sports in the US, payouts are bigger because the odds are longer, even with the top players.
Betting On Tennis
Tennis is becoming increasingly popular in the US. Most of the action revolves around the four Grand Slam tournaments of the year: the Australian, the French, Wimbledon, and the US.
Betting on tennis is extremely simple. Nearly all the action is on the winner of individual matches or the winner of the tournament.
There’s a strong in-play betting market, such as who will win the next set, but these markets are still dwarfed in comparison to the others.
Tennis is one of the simplest sports to bet on for beginners.
Betting on Boxing
Boxing is another simple sport to bet on because most bets revolve around the victor. There are few variables to bet on.
Players typically bet on who will win and the method of victory. For example, you can place bets on whether there will be a knockout or whether it will go to the judge’s scorecards.
Betting on boxing can also encompass predicting which round the bout will end in. Many place these bets before the opening bell, but there’s also a strong in-play market for these types of bets.
Betting on NASCAR
Racing is always a popular sport to bet on, and NASCAR betting is more intriguing and complex than it first appears.
Yes, you can place bets on who will win a race and who will finish in the top five or top ten. But betting on NASCAR goes further than that.
You can also bet on head-to-head battles. These bets take two to four drivers and to win the bet your driver has to beat the other head to head participants. The rest of the race doesn’t matter as long as your driver wins the head to head.
There are also prop bets to take into account. These include: betting on which manufacturer will win the race, how many caution flags will be thrown, and the number of crashes.
Betting on Cycling
Cycling is less popular for sports betting in New Jersey. Most of the major races that gain a lot of action are the three grand tours of Spain, Italy, and France. But an increasing number of players are starting to get interested in betting on cycling.
There’s more to cycling than just betting on the individual rider or team who wins the tour.
Each Grand Tour has separate classification winners, so as well as the overall winner there are classifications for things like best sprinter and best young rider.
There are also other forms of cycling to bet on, such as track cycling, BMX, and the cycling events at the Olympics.
Types of Wagers
Now that we have identified the types of sports for wagering, we’ll look at the type of wagers available. Wager categories include single event types and multiple event types.
A single event is a wager on a contest between two teams or a bet on the combined score of the game. A bet on the combined score of the game is known as an Over/Under bet. With a single game bet, there is a single expected outcome that determines the payout.
A “parlay bet” is a multiple event bet. A multiple team bet or parlay means the bettor can select more than one event and increase the potential payout. Most sportsbooks allow up to 10 events in the parlay. The range of possible bets can include a selection of winning teams and over/under bets.
Most sportsbooks allow combined bets of professional and collegiate selections for the event category, meaning you can combine college and NFL selections on the same parlay bet.
Other types of multiple event wagers would include teasers. Teasers are bets placed on multiple events, where the point spread can be adjusted. The adjustment of the point spread can increase the probability of a winning selection but at a significantly reduced payout.
With significant sporting events, like the NFL’s Super Bowl, proposition bets are offered. Proposition bets are not tied to the final outcome of the event. These regard specific events during a game such as who will win the opening coin toss, which player will score first, and which team will punt fist.
We will revisit the types of bets further on in this article when we look at bet payouts in detail. The payouts can vary by the type of bet and betting odds. We will also review probability in the sections that follow, along with how the types of bets described here can impact your betting strategy and profitability.
Understanding Odds and Payouts
The “odds” in US sportsbooks are expressed as a pair of numbers for each side of the bet. The odds may also be referred to as the “line”, or the “spread”. Here is a typical example of an NFL “money line” with the wagering odds for a game:
In this “money line” example, the NY Jets are the favorite. A bet of $140 will return a payout of $100 in winnings, plus the original bet amount of $100, for a total payout amount of $240. Point spreads are not involved in a moneyline bet. You select the winner of the game and the payout listed. The odds are aligned with the payout.
In the example above, the NY Jets were determined to be the likely winner by the sportsbook’s analysts. A bettor would receive less than “even money” if the NY Jets were to win the game. The favorite is always the negative number in the pair. The positive number is the payout for the “underdog”. For the favorite, the more probable the win, the lower the payout, and the opposite holds for the underdog.
Notice in the example above, the matched pair does not sum to zero when added together. A bettor only receives $120 for $100 bet on a Giants win, while a matched bet on the Jets side requires an outlay of $140. The difference is the sportsbook’s commission. The difference is sometimes referred to as the "vigorish," the “vig” for short, or the “juice”. This commission is collected by the sportsbook and used to run an efficient and fully compliant betting market.
Even Money Bet
The concept of “even money” implies there is no clear favorite in the game. With moneyline bets, the payout is aligned with the odds.
Here is our NFL example, where the odds are even, payouts are even, and the same “vig” applies to either side. This type of betting situation is referred to as a “pick-em” game - odds imply that either team is equally likely to win.
Point Spread Bet
The moneyline example above is one type of betting format that is more common with MLB wagering but is popular with NFL bettors as well. A more common NFL and NBA betting format is the point spread bet. Here is a typical example of an NFL point spread odds for a game, where the NY Jets are favored and need to win by 4 points to “beat the spread”:
With point spread betting, the payouts are usually even, but the favorite is assigned a negative point hurdle. These points must be covered to win the bet, hence the term “cover the spread”.
In the example above, if the Giants were to lose the game by a field goal (3 points), a bet on the Giants at +3.5 would be a winning wager. As a note, the .5 is usually part of the point spread and is referred to as the “hook”. This half-point is there to support betting action, and avoid ties or a “push”. In the event of a point spread tie on a single bet, you get your wager returned to you.
The point spread is a type of “balancer” to ensure two-way action, given the payout is the same and the Jets are the favorite. Two-way action is essential to the sportsbook in all betting lines. The sportsbook is not in the business of picking winners but collecting their commission with little to no risk.
In our example above, the ideal situation is a large volume of wagers on the game where the total value of the bets is exactly the same for both teams. A betting line that results in equal action on both sides implies zero-risk to the sportsbook. Regardless of the game outcome, the sportsbook collects the maximum commission.
As a bettor, you need to identify value in the odds offered and it is important to know that the sportsbook’s lines are carefully developed to meet this balanced action requirement on every sports event offered.
Before we discuss the basic techniques of betting, we must review the basics of assessing betting odds. A basic understanding of probability theory can provide a good starting point for analyzing the betting lines offered by the various New Jersey sportsbooks.
A bet on any event and the associated payout amounts are driven by an estimate of the probable outcome or expected value. An estimate of the probable outcome times the payout is the expected bet value. It is not necessary to dig out your Stats 101 text, but some basic probability concepts will help bettors apply a consistent betting strategy. When your independent estimate of probable win percentage offers a positive value, then you should make the bet.
Simple Even Odds Example
We can use the simple example of a coin flip to get an understanding of probability as it relates to a typical point spread line.
You and a friend bet on the flip of a coin 1000 times. As we know, with two possible outcomes, the probability of heads winning the flip is 50%, one outcome (heads) out of two possibilities (heads or tails). You would expect that each of you would win 500 times, a win probability of 50% (500/1000). The sportsbook would put up this line for a single “flip” event as follows:
Finding Value in Odds
In this example above we use “implied” odds to find betting value. What are these numbers telling us in terms of a likely win percentage versus the payout?
In this coin flip betting line, we want to look at the "implied” odds for possible value in a Heads bet of $110 for a profit of $100 or a total payout of $210.
The implied odds are determined as follows:
The bet amount divided by (payout + bet amount).
For the Heads or Tails example, the implied odds are as follows: The bet amount of $110 divided by (payout $100 + bet amount $110).
For this calculation we ignore the negative sign: =110/210 = .524, the implied ODDs =52.4%,
Implied odds of 52.4% means a bet on Heads to win a coin flip, expects a win rate of a little more than 52 times out of 100 to break even.
We know the probability is only 50%, so we would pass on this bet. We know we expect to win half the coin flip bets and lose the other half. If we were to bet $110 on the coin flip example, our win payout is a $100 and a loss costs us $110.
What if the bet changed to how likely a random person is to call Heads on the flip of a coin?
In this example, we are not betting on the results of a flip, but what would a random person call pre-flip? Assume we know from our research and preparation that more people are likely to call Heads and we estimate the probability of a person calling heads = 58%.
Given the same odds of -110, we would take this bet, since our expected win percentage of 58% exceeds the implied odds of 52.4%.
The process of finding value in the betting lines requires an analysis of the implied odds offered by the sportsbook compared to your independent win probability. Obviously, the determination of a team’s likely win percentage for a specific game is a lot more complex than the coin flip scenario. It is not necessary to go through the math, but successful sports bettors are consistently improving their sense of likely outcome relative to the odds offered.
Betting for profit requires a business approach and that means planning and preparation. Planning starts in the preseason, or well in advance of a major event, and the preparation will vary by the type of sport.
Prior to the season, examine the off-season trades, coaching changes, contract holdouts and other factors that can impact past performance data. This is a “subject matter” preparation that is important to monitor as you approach the betting season.
Next, review your own wagering performance. Have you overlooked the value in certain situations, or had tendencies to over-select favorites, or have other consistent patterns that are not identifying odds/payout value? Are you getting the right data for analysis? Baseball and the NBA are stats-heavy with a high volume of games and in-season data.
The weekly NFL line is a bit more like single event preparation. There are fewer games and recent performance is critical. If you are betting for profit, you need to get all the reliable information possible and do your homework.
If you are looking to make a profit over the sports season or an event series, such as a tournament or a major single event like the NFL Super Bowl, you need as much preparation as possible to increase your profit potential.
There is no magic formula that generates a winning pick 99.9% of the time. If there were, there would be no balanced action and no sportsbook available to wager from. Bettors develop basic techniques over time to consistently find value in certain betting lines. These basic techniques include:
You should always be selective with your bets, limiting your analysis to a single sport and a few teams. The sportsbook will put up a line on just about every sporting event there is, as it needs to balance the action on both sides of every bet. Your advantage is to narrow the focus and look for value.
You must find a good source of meaningful comparative data and information on a few teams. Develop a methodology for your own power rankings. You can start with those you can find on the internet and adjust with the focused research you develop. You must develop a technique that identifies odds/payout value. You find value in a spread that is a bit too high, a moneyline payout that is inconsistent with your probability of a win, or an over/under total that is too low based on your focused analysis.
Finally, it is important to stay disciplined. Remain objective and trust your numbers. Do not get caught up in public favorites and stick with your core process. You will modify your comparative rankings as the season rolls along but stick with your methodology and limited focus.
For long term profits, try to bet on individual games. Avoid involvement with multiple team bets. Multiple team bets rarely offer true odds/payout value.
The definition of strategy is to develop the specific steps necessary to reach a defined set of goals. Further, strategic planning can also be described as a combination of art and science to reach those objectives. In sports betting the goals are two-fold: to have fun and to make a profit in doing so. The combination of art and science also applies to sports betting. It is not all numbers, but understanding the odds/payout factors is very important. In a sense, sports betting can be viewed as a creative process, supported by sound number analysis.
Sports betting does require an ability to apply some intuitive sense about the outcome of a sports contest but also demands objective numbers to support the expected results. One should have an unbiased, creative sense, but not lose track of the underlying facts. This number focus is especially important when planning and controlling your bankroll. Your wagering funds balance is a critical planning component.
Strategy for Beginners
The key first step in making a sports betting plan is to define your goals. If you are betting for fun, then the goal is simple; make your bet and enjoy the game. However, if your goals are more for-profit, the goal should cover a defined period of time. That period of time could be any series of events such as the NFL season, the NCAA Basketball tournament, or the World Series.
Take a Business Approach
The profit goals should define a positive cash outcome over a period of time, recognizing that there will be losses. The bettor’s edge on the odds/payout prospects is fairly narrow, and a solid planning approach is essential. A business approach recognizes the betting opportunities and slight edge you may have on a specific range of sports bets, along with the inherent risks.
Gain an understanding of the types of bets available and start out with wagers on single-game events. Parlay payouts may appear very attractive, but you need to cover every event on the bet. Single-game wagers provide the best odds/payout value and will minimize risk to your bankroll.
It is also important to have a budget and maintain control of your bankroll. Bankroll management is a key aspect of long-range planning for a series of sporting events. You need to selective with your bets and preserve cash flow for the right opportunity. A fixed bet around 1-2% of your budget for the season is the correct bet amount when getting started.
Preparation is Essential
There is no “one size fits all” approach to betting on any sports category. The long-term statistical results and current performance factors that can impact betting outcomes can vary by the type of sport. At the planning stage, reviewing past information is important in developing the right evaluation numbers for the coming season.
Complete your preparation on a very focused list of teams, then test your selection methodology on last season’s results. Play a few weeks on paper before jumping in on live-action.
Before placing a bet, ask yourself the following questions.
Do the numbers make sense?
Can I make an objective case based on analysis or is the bet based on a “gut” feeling?
As the saying goes; hope is not a strategy.
You may have a good sense of opportunities in the betting lines, but you should always have the past performance information that will help you spot trends to back up your betting insights.
Find two or three good on-line stats feeds for the sports leagues you intend to wager. Statistic feeds provide source data for trend analysis on home/away performance, scoring and defensive metrics, as examples.
These are just a few examples of the information types of that can help you develop an edge. The internet offers a variety of sports data sources and team performance statistics. The art is knowing which set applies to the range of sporting events you need to evaluate.
Review Your Performance
Your personal wagering performance versus the sports betting lines is an important past performance category. You should always track your actual betting performance.
This tracking process allows you to measure how well you did last season against the spread or the moneyline. Were there positive trends you can build upon this season? Were there obvious negative trends?
For example, were there more point spread losses on home favorites, losses on under bets, or too many losing parlays? The concept is to look at your past performance for specific areas of improvement as you approach the coming season.
If you are new to sports betting, you need to create a past performance. In other words, apply your planned selection methods on last year’s actual spread results. Make a series of wagers on paper to see how well your bet selection methods would have performed. Spend the necessary prep time to work through the numbers and practice your bet selection process.
Regardless of your betting experience, plan on a good deal of “pre-season” preparation effort, well before the actual season gets started. Fully prepare yourself before you start placing real money on the various spread lines, money-lines, or live betting action.
An advanced strategy is simply an extension of the basic betting principles. A carefully focused approach to identifying value in the odds/payout opportunities. There is no single advanced technique that magically generates winning bets - only a disciplined approach that consistently delivers a very slight edge over time.
The key aspect of an advanced strategy is to have a focused methodology tailored for each sport and carefully manage your wagering bankroll.
An advanced strategy requires experience with the basics. Bettors must have the ability to develop a comparative analysis technique to detect “weak” lines. The sportsbook must remain competitive, offering lines on just about every single professional and college game. It will provide lines that minimize their risk by balancing the action. The betting public tends to lean towards popular teams, which can move the betting line to where there is real value in the underdog.
Advanced strategy demands objectivity in trusting the comparative analysis and customized power rankings - not what the betting public may consider a “sure thing”. As a bettor, you do not have to bet on every game. Selectivity is what helps develop your edge.
You need a season-long, disciplined approach that also includes a plan to steer your money to the best odds value. Minimize risk by making several single-game bets while avoiding parlays, except in very specific situations.
A key element in an advanced approach is the ability to effectively manage one’s bankroll. This is discussed in more detail below, but financial management is another aspect of wagering that requires discipline and patience.
There are times to vary bet size, given the right opportunity, but there must be wagering capital available when opportunities come along. Treat your bankroll as business capital.
An advanced strategy requires focused discipline while maintaining an objective and selective process. There are betting opportunities in every professional and college sports event. Many would argue the real opportunities are in the college games - college basketball in particular. While it is a good idea to diversify types of sports, the same disciplined approach must be applied.
The following section covers some of the variations in betting strategy that can be applied to each sport.
Strategy for Each Sport
A “strategy” is often defined as a plan of specific steps or actions to achieve a significant goal. Your strategy is to approach each sport with the necessary steps to find the odds/payout value that returns a profit.
The opportunities and analysis techniques will vary by the type of sport, however, the need for consistent wagering discipline is a constant.
The NFL is the largest sports wagering category in the US. The immense popularity of the game and weekly format on a relatively limited number of games draws in a huge volume of bets.
The strategy for the NFL is to be very selective, and have a well-developed set of comparative power rankings to analyze match-ups.
The betting lines are very tight in the NFL. A “weak” line is almost non-existent. This does not mean there are not opportunities, but with the NFL, bettors must be very selective and very careful to manage their bankrolls.
Current information is essential in NFL spread analysis. Information on injuries, playing surface, weather conditions can all have an impact. The weekly format on limited games means a lot of analysis time between events, and time for the betting lines to move slightly.
The strategy for the NFL is to stay current on team performance, game day conditions, and be very wary of the heavy public favorites. These are the teams that win a lot of games on the national stage but do not do well against the spread. Most value opportunities in the NFL boil down to finding real value in the underdogs.
NBA and MLB
The NBA and MLB sports categories closely follow the NFL in terms of amounts wagered and offer good odds/payout opportunities. There are games scheduled every day and as a result, there is a great deal of statistical data available.
Statistical Value is provided by observations where valid patterns can emerge. Baseball stats can provide insight on critical pitching matchups, runs scored and fielding errors. The NBA is similar to scoring, rebounds, home and away results. The strategy for these sports is to focus on the numbers. Develop comparative analysis on the volumes of stats data available.
Serious bettors in these sports need a daily stats-feed. There are games every single day during MLB and NBA season, and a bettor needs to be ready with objective analysis to gain an edge in this category.
Both collegiate basketball and football offer good odds/payout value. In fact, many experienced bettors will argue the best betting value is with college sports.
The reasoning behind this is the volume of college games, and again, the fact that the sportsbooks offer lines on just about every college conference. This volume of betting options on non-professional teams of various competition levels can make for some real opportunities.
College basketball is stats-driven and football is more recent, comparative strength-driven. Gameday spread performance can be heavily impacted by:
- "home" and "away" results
- non-conference vs rivalry games
- home-coming games
The college football bowl games are also good opportunities for odds/payout value, primarily with underdogs in the minor bowl games.
The NCAA March tournament will experience a lot of “over-betting” on perennial favorites.
College sports are played by young student-athletes at various competition levels and there is a lot more variability in the spread outcomes. With disciplined research, you will often find more potential betting value in this category versus the professional ranks.
Managing your Bankroll
Working on your strategy for a profitable betting season involves the importance of cash management as part of your overall sports betting plan. You must have the resources available when a good opportunity comes along. Plan for the long run, while adjusting your bets on your estimate of odds value.
As a rule of thumb, you should avoid putting more than 2% of your season bankroll on a single event. However, an important adjustment to this rule is to apply a odds proportional amount, when conditions are right.
Proportional betting involves using your comparative analysis to determine how much of your bankroll to bet. When you determine that you have a 5% edge, you should then bet 5% of your bankroll.
Sportsbooks offer a line that can be translated into an implied odds percentage. If your expected win percentage after implied odds analysis is 5% higher, then wager 5% of your bankroll.
The proportional method has proven to be a better way of increasing your bankroll when winning while minimizing the loss impact. Prepare for lots of losses. At best, with analysis and discipline, you can expect to win 58 of 100 events on an average season. Make sure you have the funds to withstand some losing streaks while having fun and making a profit.
Choosing Where to Bet Online
There are many very secure and very reliable online sites to meet the growing demand for online sports betting. Your sports betting experience requires having the right tools, therefore, selecting the right betting site requires a bit of preparation as well. It is important to select the betting application that meets your betting needs. There are a number of online sports sites currently available that now offer a full range of convenient functions.
The basic evaluation checklist starts with the security of your financial information. Other critical factors include features that allow you to quickly navigate to the events and odds information along with banking functions to track and manage your bankroll. Good customer service support is always important, as well as the turn-around time for cash withdrawals. It also is important to have an app that checks for the best betting odds available in all of the major sports. The spread can vary from site to site and it often pays to shop around.
Product analysis such as reading reviews and familiarizing yourself with product features is a great start to choosing a site.
The wide selection of great betting applications can help you put your valuable time into odds analysis, instead of a trip to the brick and mortar sportsbook. This cuts out all of that time driving, parking, and standing in line. You just need an internet connection and a betting app that meets the criteria needed for successful wagering.
Sports Betting Bonuses
In addition to checking out the tech features and betting content of these betting sites, it is a really good idea to check out the various bonus cash offers these sites offer.
Many of the betting sites offer sign-up incentives to build market share for a rapidly growing customer base These include matching cash incentives that can add real value to your bankroll. These bonuses could include:
- a bonus on your first deposit
- reload bonus offers
- cash amounts for mobile play
First-time deposits can earn up to a 100% deposit match! These offers are designed to help you get started, and ideally, make you a loyal customer. Take advantage of these great offers as you begin your online sports betting experience!
As with other aspects of our modern lives, mobile apps have been developed for sports betting, with all the necessary security and convenience in the palm of your hand. Mobile gaming is a key aspect of today’s sports betting environment. Whether you’re playing for fun or serious profit, use sports betting apps, along with the guidelines covered above, to get started on a great sports wagering experience.
Recommended Betting Sites
When searching for a sports betting site in New Jersey, there is an increasing number of new players in the market.
You need to think about the odds on offer, the bonuses, the in-play betting options, and the different payment methods on offer.
DraftKings is an established name in sports betting throughout the US. They offer a wide variety of different betting options on major and minor sports.
New players signing up for an account with DraftKings are entitled to a matched bet worth $500 and a $25 free bet.
Unlike with online casinos, whatever you win from your free bet is instantly credited to your real money balance 90% of the time. With other sportsbooks with larger free bets, additional restrictions may apply.
William Hill Sportsbook
William Hill is big in both the US and Europe. Their sports betting arm is a highly popular option for players in New Jersey.
When you register for an account you’re entitled to a $50 free bet when you bet $50. In other words, all you have to do is wager $50 and you’ll receive a $50 free bet win or lose.
They also have a betting app for both Android and iOS devices.
BetMGM is an established name most known for online casinos. However, they’ve recently added a sports betting arm to their range of services.
They offer one of the biggest bonuses around. New players are entitled to a $500 risk-free bet. It comes with certain wagering requirements, though, due to its size.
They’ve also combined their sportsbook with their classic online casino and poker room, so players who want all their gambling needs fulfilled in one place should play with BetMGM.
Caesars Sportsbook is one of the few sportsbooks allowing players to bet for free without even making a deposit. All players are entitled to a $10 free bet without making a deposit.
In an attempt to stand out from the crowd, Caesars also offers a free weekly Pick’Em Challenge during the NFL season. If you’re good, you can win huge prizes without any risk.
There’s also a $300 bonus when you make your first deposit.
PointsBet is a lesser-known name in sports betting, but they definitely offer a great service for new players. Every week you’ll find big odds boosts and specials on certain sports and matches. Saturdays and Sundays allow you to win a huge amount just due to these boosts.
They also have a compelling welcome package. When you deposit $50, PointsBet will give you a massive $150 to bet with.
The odds boosts are some of the best in the New Jersey sportsbook market, so that alone makes this a profitable site to bet with.
Mobile Betting Apps
Sports betting participants need constant access to their accounts as point spreads change quickly due to weather, trades, players' injuries, etc. In online sports betting, mobile access is crucial.
Under the New Jersey law, licensed NJ online sports betting sites can provide their customers with regulated sports betting apps available for download on mobile devices. These regulated, legal online sports betting sites can provide sports betting apps through devices from manufacturers such as Android and Apple. Illegal sportsbooks are unable to provide such commodities through the U.S. app stores and are unable to work with such established manufacturers.
Playing on a mobile app, rather than through a browser, brings a host of benefits and provides a much more reliable experience for customers looking to place bets on-the-go. Players can make wagers, check lines, view loyalty points and make deposits and withdrawals via the smooth app software downloaded right to their smartphone or tablet.
New Jersey Sports Betting Laws
Recent shifts in the public’s sentiment around sports betting have led to important legal changes. Sports gambling is now legal in several US states due to a 2018 landmark US Supreme Court decision that cleared the way for each state to determine their respective gaming laws. For many years, only the state of Nevada allowed sports betting. Today, the State of New Jersey is leading the way towards the implementation of a convenient framework to place wagers on sporting events.
Many other states are now following the New Jersey and long-standing Nevada models. The New Jersey state law that was approved in June of 2018, set the groundwork for the current sports wagering process. The key aspects of the law are the legality and mobile convenience provisions. Here are some key definitions of the New Jersey law and what they mean to sports bettors everywhere, since many states are following this framework.
The law defines an “online sports pool”. This allows wagers on sports events can be made via interactive devices, such as a computer or hand-held mobile devices. It means betting on sports events is legal and convenient when you use an online betting site.
A sports event is defined as any professional athletic event, any Olympic or as any international sports competition. A sporting event also includes most college athletic events. However, you are not allowed to wager on “prohibited sports events. This means you can bet on most sporting events when in New Jersey.
"A “prohibited sports event" is an event in which a New Jersey college team participates regardless of where the event takes place. This means no bets are allowed in New Jersey sportsbooks on Rutgers football or Seton Hall basketball as examples, but you can bet on professional teams, like the New Jersey Devils.
Legal wagers must be placed while geographically located in the state of New Jersey. It is the responsibility of the operators to adhere to this in-state requirement. This means a bettor’s cell phone must have the GPS location to indicate that it is within state limits in order to legally place a bet.
Other Important Legal Notes
There are groups of individuals that are prohibited from betting on any sporting event due to their involvement with specific sports or leagues. This would include professional and college athletes, coaches, and referees. The law prohibits any persons with potential influence or access to non-public information form betting on events they are in some way associated. Any person under the age of 21 is prohibited from betting.
0ne other legal aspect that is very important to sports bettors in the New Jersey law is the provision that establishes reserve regulations that the sportsbooks must adhere to. This provision governs the level of cash reserves needed to cover winning wagers. As a bettor, it is important to know that your payment is fiscally guaranteed.
Nevada and New Jersey are states with full implementation. If your state allows sports betting, you can expect to see similar legal provisions.
The History Behind Legal Sports Betting in NJ
In the beginning, PASPA banned sports betting. President Bush signed a law back in 1992, banning states from regulating or taxing sports betting. This new legislation was known as the Professional and Amateur Sports Protection Act (PASPA). Sports betting itself was already outlawed, prior to this new legislation, however, once the law took effect, states (outside of a few exceptions) were no longer allowed to regulate the activity.
This law made an exception for Nevada, Oregon, Delaware, and Montana. At the time the bill came into effect, sports betting was already a huge commodity in Nevada. The other three states - Oregon, Delaware, and Montana - allowed regulated sports betting in certain places. Although this law was enforced country-wide, reports still continually proved that billions were being gambled yearly in US sports betting.
After regulated sports betting had been restricted for 25 years, New Jersey finally won its battle and the U.S. Supreme Court declared PASPA unconstitutional, giving sports betting law a green light. The 6-3 decision took down PASPA and states gained the right to establish regulated online gambling and sports betting within their own borders.
Since the regulation of sports betting has been made legal within New Jersey state borders, the Garden State has seen record growth. Although they haven't yet caught up to Nevada, New Jersey's monthly handle almost doubled from August to September. $96 million quickly turned into $184 million, however, it still came in behind Nevada's whopping $571 million throughout the month.
Sports Betting Player Safety
NJ online sports betting sites, as well as land-based sportsbooks and casinos, are all regulated by the NJ Division of Gaming Enforcement (DGE), which carries out the lengthy inspections required for these establishments to obtain their licenses. Before acquiring this license, NJ sports betting sites undergo meticulous inspections and vigorous background checks where authorities investigate the companies along with their employees.
This practice ensures the safety of all players involved with legal online sports betting sites. Players can wager their money through protected accounts with the comfort of knowing that their money is in the hands of legitimately licensed establishments. Safe and convenient withdrawal and deposit options are available to players on legal NJ sports betting sites. There is no way for gambling corruption to interfere with player winnings when these legal online sports betting sites are under such strict regulations.
Safe and Convenient Banking
Banking transactions are much smoother and safer through licensed and regulated sports betting sites. A regulated sportsbook offers a number of different safe deposit methods besides depositing cash at the casino's cage. These methods usually include credit cards, bank wires, Neteller, PayPal, and checks. Deposits are seamless and withdrawals are quick. The U.S. banking system does not support black-market sportsbooks, therefore, when dealing with an illegal sportsbook, a player's money moves around to evade the law, putting it at very high risk. On top of the safety measures when participating in legal online sports betting, a player also has the convenience of avoiding operator expenses on their withdrawals.
NJ Betting FAQs
Since the Supreme Court overturned PASPA, the state of New Jersey has been full speed ahead with legalizing sports betting. The recent restructuring of legislation pertaining to New Jersey sports betting and online gambling has brought about many questions. Here are some of the questions most frequently asked regarding betting in New Jersey.
When did legislation pass to legalize online gambling in New Jersey?
On February 26, 2018, Assembly Bill 2578 was signed by Governor Chris Christie, legalizing online gambling within state lines.
What New Jersey venues offer sports betting?
Nine Atlantic City casinos will allow sports betting. Two of which are racetracks - Monmouth Park and The Meadowlands.
Meadowlands Racetrack began offering sports betting on July 14, 2018, and pulled in almost $3.5 million during its first nine days of taking bets. The company announced plans to expand The FanDuel Sportsbook which is located in East Rutherford, six miles from New York City - in the vicinity where the NFL's New York Giants and Jets play.
Monmouth Park Racetrack
This horse racing track became the face of New Jersey's battle to legalize sports betting. Located in Oceanport, New Jersey, Monmouth Park is situated just south of Newark and New York City and about an hour and a half east of Philadelphia. The horse racing track is nearly 150 years old, having opened in July of 1870 as an innovative way to increase trade alongside New Jersey's bustling shore communities.
After spending millions of dollars to build its betting parlor with British bookmaker William Hill, Monmouth Park made its stake in the betting market and is now open seven days a week. The converted sports bar was previously used as the track's cafeteria. There is also a newly renovated grandstand area outside. The company is planning to build a $5 million standalone sports betting facility on the premises in the future. Participants must be at least 21 years old to place bets.
Gov. Phil Murphy made a name for himself, casting the very first legal sports bet in New Jersey at a ceremony hosted by Monmouth Park Racetrack on June 14th, 2018.
The Borgata Hotel, Casino and Spa
The Borgata Hotel opened its sportsbook on June 14th, 2018, the very first day that sports betting became legal in New Jersey, making it the first Atlantic City casino to offer New Jersey sports betting. NBA star, Julius Erving, stepped up to place the first bet, which was $5 on another Super Bowl victory for the Philadelphia Eagles. On August 22, 2018, Borgata began sports betting, however, only taking bets through Android devices to start off. This ambitious casino raked in a whopping $562,830 in sports betting income in the month of July alone.
Bally's, Caesars, & Harrah's Casinos
These three Atlantic City casinos are all owned and operated by Caesars Entertainment. Bally's Wild Wild West casino hosted the launch of Caesars' sports betting on July 30th, 2018. Caesars Casino resides next door, therefore the company doesn't see a reason to open another sportsbook there. Guests at either property are permitted to use Bally's sportsbook, so there are no current plans to open another one at Caesars.
A few days later, on the first of August, Harrah's Casino launched sports betting at their establishment.
Caesars Entertainment claims both locations are temporary as the company works towards building the permanent locations for sports betting.
Golden Nugget Casino
Atlantic City's Golden Nugget casino began with sports betting in mid-August. Located next to the Borgata in New Jersey’s Marina district, the Golden Nugget Casino started online sports betting through PlaySugarHouse.com.
Golden Nugget launched online sports betting in August 2018, through PlaySugarHouse.com.
Ocean Resort Casino
Ocean Resort Casino began offering sports betting on June 28, 2018, the day it first opened its doors to the public. William Hill’s partnership with Ocean Resort casino allowed for the operation of over 100 race and sportsbooks in Nevada along with a mobile betting app. This 7,500-square-foot property is situated in the middle of the casino's gaming floor along with a bar, an area for video, and a space for live in-play betting odds. This casino pulled in the most sports betting revenue out of all the Atlantic City casinos less than a month after launching sports betting, reeling in over $1 million.
Resorts Casino began offering online and mobile sports betting before they started taking in-person bets, kicking off on August 15, 2018. The Resorts Casino Hotel Sportsbook is equipped with six betting windows, a 12-foot video wall displaying 15 television screens, along with four betting kiosks. Resorts Casino had partnered with The Stars Group and DraftKings in order to provide mobile and online sports betting.
What are New Jersey’s sports betting limits?
The wagering limits in New Jersey vary from sport to sport. They can even vary between customers as well.
Why are college sports betting prohibited in New Jersey?
New Jersey State Sen. Ray Lesniak passed a voter referendum in 2011 in an attempt to alter the state constitution to allow sports betting. Included in these amends, he specified that wagering on collegiate events would be prohibited, therefore removing this clause would require another amendment to the constitution.
Why doesn’t Bally’s have an NJ online betting site?
Almost all of the Atlantic City casinos run at least one legal NJ online gambling site. To the surprise of many, Bally’s Atlantic City Hotel & Casino is the only one without an online presence.
Bally's two casinos were built in 1979 at Park Place and the Boardwalk, under the ownership of Caesars Entertainment. This property, alongside Harrah’s Resort Atlantic City and Caesars Atlantic City Hotel & Casino, consists of over 220,000 square feet and holds 5,000 slot machines.
Caesars Entertainment administered its online gambling licenses altogether, through Harrah's, WSOP NJ, 888 NJ, and of course Caesars online NJ. Therefore, creating another online casino for Bally's brand would just lead the company to compete with itself even more. To the parent company, this seemed unnecessary.
How does geolocation work and what is it used for?
Geolocation is a technology using a global positioning system as a way to pinpoint the approximate coordinates of players. The system uses WiFi signal triangulation and IP address tracking.
Most betting sites will require players to run a plug-in on their computer in order to run geolocation software. This allows the system to check a player's location when they connect and then will sometimes check on their location as they play.
States with legalized online gambling require players to be within state borders in order to play. Players are not required to be residents, however, the state laws insist upon them being inside state lines when they play. The responsibility lies under the online gambling operators to enforce this policy.
Geolocation is the solution to this enforcement. In fact, most betting sites are required by state law to use this new technology.