Double Down Sports Betting

• About The Double Down The Double Down was launched to provide a hub for all the latest news and information across a wide range of sports, betting and technology industries. Our team bring decades.
• Sports betting—and, in particular, online sports wagering from mobile phones—has quickly become the hottest trend in the U.S. Gambling industry. The business has mushroomed since the Supreme.
• Colorado bettors doubled down on sports wagering in August, raising the total to $128.6 million, the Colorado Division of Gaming announced this week. The return of professional sports for a full.

Double Down Double down is a blackjack term and is the name of one of the decisions that a player can make as the game goes on. In most variants of blackjack, the player is allowed to double his initial bet.

Deutsche Bank research analyst Carlo Santarelli said the sports betting landscape will get more competitive when sports returns as he highlighted further investments in BetMGM that positions it to gain market share.

MGM Resorts International and GVC Holding issued a joint statement Wednesday related to their capital commitment to the ROAR Digital joint venture, Santarelli said. The second financing round includes a $250 million contribution from partners, bringing the total investment in the joint venture to $450 million since formation, he said.

“We believe the deal, if nothing else at present, while sports remain on hold and iGaming remains limited to a small subset of states (New Jersey, Pennsylvania and Michigan) serves as another reminder of just how competitive the sports betting and iGaming arenas will be over the coming years,” Santarelli said in a report. “With the two daily fantasy operators off to a meaningful head start in the race for market share, some critical partnerships we believe to be on the horizon, and large operators putting capital together, we expect an aggressive customer acquisition spending spree upon the commencement of sports.”

MGM Resorts unveiled its new sports betting experiences across its Las Vegas properties in March when it announced the launch of BetMGM in Nevada.

Santarelli said the ability to acquire and retain customers “will be critical over both the near and the medium term, given the commoditization of the offering within the sports vertical. We believe the MGM Resorts brand, its partnerships, and the capital behind the customer acquisition push, positions MGM well to gain share when sports relaunch. We also believe the level of investment required to achieve these goals, within the spectrum of MGM and GVC’s footprint and cash flow generation, in a normalized environment, is a strategic advantage relative to certain peer operators.”

BetMGM is projecting more than $130 million in revenue in 2020 despite limited sports betting, Santarelli said. That’s driven primarily by iGaming in New Jersey. The joint venture has licensed access to 19 states that account for about 50 percent of the U.S. population of which seven have launched and four are expected to launch by the end of 2020, Santarelli said.

Management assumes an $8.5 billion in sports betting gross revenue marketing in 2025.

BetMGM generates an 18 percent share of iGaming gross gaming revenue in New Jersey. Borgata gross iGaming revenue through May was $63 million with April and May up 75 percent from the pre-COVID January and February results, Santarelli said.

The M Life program has 34 million members of which six million reside in states in which MGM plans to have an active online presence by the end of 2020, he said.

“Upon the relaunch of sports, BetMGM will launch to the 64 million monthly active users of Yahoo, one of the largest domestic daily fantasy platforms,” Santarelli said. “GVC management was direct in its message as it pertains to being aggressive with spend to get to its market share targets over time.”

Ever walk into a casino sports book and feel like you’re looking at the mission control of an alien spaceship? It can be an overwhelming experience as a first-time bettor, especially if you don’t know what the numbers on the digital boards mean. All you know is that you’re confident this team is going to beat that team and you’d like to lay down some money on it.

Well, that’s called betting the moneyline.

Like any hobby, sports betting is one of those activities with its own language, set of best practices, and house rules. Rookies have to learn what all of this entails, often from a friend who is already confident in their knowledge. Once you learn a handful of sports betting tips for beginners, you’ll feel confident placing a bet on a legal sports gambling app like the one from BetMGM or strolling up to a cashier to wager on a game or team you like.

Similar to our guide to NFL betting tips, we wanted to put together a little piece that explains some of the basic things you need to know about sports betting before putting your hard earned cash on a game.

How does a spread work?

In games like football and basketball you’ll see two teams listed. For example, on opening night of the NFL season this year, the Kansas City Chiefs are -9.5 vs the Houston Texans. What this means, is that if you want to bet the Chiefs, they need to beat the Texans by 10 points or more in order for you to win. If the Chiefs win by 7, then you didn’t “cover the spread” and that would be a loss. On the opposite side, you can bet the Texans +9.5, which means you would win if the Texans lose by 9 points or less, or win the game outright.

What’s a moneyline bet?

In baseball, you will see bets like this: New York Yankees -200 vs Toronto Blue Jays +175. What this means is that you are betting the moneyline, which is just betting a team to straight up win. However, the more likely a team is to win, the more expensive the bet is. In this example, you need to put up $200 to win $100 on the Yankees. But if you bet $100 on the Blue Jays in this bet, and they win, you will win $175. Betting favorites on the moneyline can be expensive!

What is the “juice”?

When you bet a game with a spread, you’ll notice that most of your bets will say -110 or -120. That means that you need to risk $110 in order to win $100. This is called the “juice” or the “vig”. This is essentially how the casinos make their money.

What’s a parlay bet?

A parlay is a bet where you group together a bunch of bets, but must win all of them in order to cash the ticket. These bets can be fun, and depending how many bets you put in, can offer a huge payoff with very little cash to risk. Below is a table that shows general odds on parlays if you are betting regular -110 spreads. This chart is based on risking $100. Remember though, while four teams may hit for you in your five team parlay, that one loss makes the entire bet a loser. So choose carefully!

Have multiple places to bet

The odds on bets are not necessarily the same from sportsbook to sportsbook. The Chiefs in the example above may be a 9.5 point favorite on one book, but only a 9 point favorite on the other. That’s a pretty important thing, as if you bet the Chiefs -9.5 and they win by 9, you lose your bet. But if you bet them at the other book at -9, then you would have pushed, and gotten your money back. Always look at multiple sites and get the best line possible!

Stay within your means

We are betting on these games to be entertained. If you go on a losing streak, it happens to everyone. Don’t get out of control and start doubling up, trying to get your losses back. Bet the games to have some extra fun, but don’t go over your head!

Where should I bet?

Double Down Sports Betting

Find reputable books to bet on, ones that are approved by your state. The great thing about these books, is they are always looking to get new customers, and offer some great promotions – like this $600 risk free bet from BetMGM! Before signing up, make sure you do a quick google search on that specific site, there are usually some great deposit bonuses available that will get you some extra money to place on some bets

—

Best Online Betting Sports

Double Down Sports Betting

The BroBible team writes about products and services that we think you want. Occasionally, we write about items that are a part of one of our affiliate partnerships and we will get a percentage of the revenue from sales.