The Betting Scene: Beware the Hype of Huge Winners

Legal sportsbetting is making many people very happy, but excessive marketing tactics and unusual betting options should make even the most seasoned gambler wary...

In many states in the U.S. gamblers can now bet at licensed and regulated sportsbooks in their state. Great, right?

In many ways, yes, it's been a long time coming. But there is also a downside. The endless stream of gambling commercials sporting 'more ways to win' slogans during any TV show or event with a mainly male audience and the tireless stories of players cashing in huge winners, while making crazy bets.

It was inevitable and it's not all good.

This week there was a report that a mystery bettor at PointsBet, a newer U.S. online sportsbook operating in NJ and Iowa, placed a $30,000 wager on the Ravens (-6) at Miami. Huge Wager, but it gets better. The wager was a point-based, maximum win-loss limit bet, where for each point off the spread the bettor would win, OR LOSE, the amount of the bet. The bettors won 600K as the Ravens demolished the Dolphins by 49 points. The bet did come with a max win/loss of 20x, but the player could have chosen 50x!

There's "bet live during the games' marketing pushes and commercials that talk about the number of oddball bets and props that players can 'win' on. And the media eats it up, jamming every big win and bad beat down our throats, coaxing us in, to try it for ourselves.

And this is where the problem comes in. Sure the PointsBet mystery man won $600,000, but he also could have lost that same figure. IF he had lost, we would have even heard about it? No Way. That's bad for business. But big wins, and fast payouts from new land-based sportsbooks are great marketing tools. Hey you, average Joe Bettor. Come play, win 600K. OR LOSE 600K. Play outrageous bets and stupid odds, that by the way are in the favor of the house.

The big issue is that most players have a tough time winning playing a side or total. Picking a three team parlay is tough enough, without throwing in some added prop bets that yes, can be cherry picked, but more often than not, are skewed against the average bettor. I guess what I am getting at is oddball wagers set up novice bettors to lose.

The best advice is to not get sucked in by the hype of using crazy exotic bets to cash in big. Proven betting theories shows that flat betting, using bankroll management and doing homework are the best way to profit!

Players who want to fire on crazy wagers are urged to read the fine print, understand the risks and payoffs and tread very lightly!

One Year Anniversary

Tuesday will mark one year since a player at Costa Rica Sports Betting (CRSB) requested his initial payout. We've reported on CRSB almost since they opened with stories of slow or no pay, yet they continue to operate. 

This player is down to being owed $4,000 and has been told repeatedly that he will be paid in full. And, truth be told, he has received several thousand over the last year. But the continuing stall tactics and broken promises make us wonder if they ever intend to pay him out every last dollar. 

Changing Bonuses

Now that the initial sign-up rush is over for online sports books, almost every online operation has reduced their offers. There are still some 100% free play and cash offers out there, but it's best to check out Sportsbook Bonus page for the lastest updates. 

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