Hockey Betting Systems

Hockey betting systems will do wonders for your betting positions and give you a much better chance of collecting cash from your wins, as opposed to losing money from using trial and error methods. When you use effective hockey betting systems, you can essentially eliminate a large amount of uncertainty that is normally associated with amateur betting (especially amongst avid sports fans and beginners who place bets purely for entertainment purposes).

To set yourself apart from the amateur bettors and on your way to professional betting, the best hockey betting systems will bring you there. Having said that, here are a few betting tips that you can implement into your hockey betting systems:

Betting Against The Public

Basically, the sportsbook will always go along with the public, agreeing upon the public’s betting trends and patterns. Next, the sportsbook will then reduce the odds and thus the value of public betting. Keep in mind that NHL hockey bets are much less compared to NFL football betting, meaning that public bets are usually wrong. Given all of this, using your hockey betting systems to bet against the public. In other words, bet on the underdog team and you will have a better chance of seeing winning results.

Betting Against The Road Trip

Another addition you can implement into your hockey betting systems include betting against a team playing on the road. You can wait for a specific team to have a 3-game trip on the road. Several professional NHL bettors have developed proven statistical analyses that justify the fact that many teams do not play as well as they could on the road compared to when they are playing a home game. So, when a certain team plays a game on the road, you should bet on the home team of pulling off a win. If you end up losing that bet, you can double up on your next bet to a maximum of about three bets. Doing this will show you that rarely you will find that it will ever find its way to the third bet – in other words, you’ll most very likely be collecting profits by then.

Betting On The First Round Of Playoffs

The NHL playoffs are an exciting time of year and can definitely bring in some great winning cash if you use your hockey betting systems properly. One strategy is to put a lower valued bet on the underdog teams during the first two games during the first round of the playoffs. This works because the sportsbooks normally place de-valued figures on the chance of an upset, which often happens on a consistent basis each and every year. It’s a good idea to exploit this opportunity and gain from it since this trend is not looking like it will chance any time soon, statistically speaking.

Implementing the above strategies in NHL hockey betting will increase your chances of winning your bets, and when used in conjunction with effective hockey betting systems, will offer you the fantastic opportunity to become an expert NHL hockey bettor.

For more information, resources, and tipsters on hockey betting systems, visit www.BettingUnderground.info.

Scratch-off Tickets – Start Winning Today!

“Free Scratch Tickets, Real Prizes! Click on the scratch ticket image to play your free scratch ticket for real prizes now! No cost, no registration! You must be over 18 years. This contest is VOID in any jurisdiction within the United States, Canada or elsewhere where participation is prohibited by law.” — MR FREE

The sound of the word “free” is tempting; and the sound of the phrase “real prizes” is even more appealing. What is there to lose? Anyway, it’s all free. The ad said it requires no information and all you got to do is to click the image to play your free scratch tickets. Everything seems like it’s a win-win situation.

You have probably just joined the thousands of people who could not resist scratching the card using the mouse and rubbing off the ticket’s covering… Congratulations you have won!!! Or, have you?

Free scratch tickets, instant win game, scratch off, free scratch cards, scratch and win, scratch ticket, scratcher, scratch to match, scratch2cash, scratch prize tickets, scratch off, scratch game – there are indeed a lot of names for these games. The common goal is to have anything from 3, 6 or 9 and the golden or silver panels are meant to be rubbed to reveal the symbols. Most of the themes are colorful and they range from pictures of pirates, cowboys, space, card symbols or even just anything under the sun. Surprisingly, almost all of the free scratch tickets always reveal winning symbols. Indeed, they’re free; but where is the catch?

Some websites will give you chances to play free online. They won’t ask you to register any information until such time that you would have to be notified if you’ve won the game. So after finishing the game, you would have to reveal your name and e-mail address. Other scratch cards websites are even more intrusive. They would even ask for your address, phone number, occupation, marital status, salary range, age, date of birth, and a lot more of information. In a way, it doesn’t seem free at all. You have given your information and that’s the payment for playing their online free scratch tickets.

And what happens to the prize? Certainly you are given the jackpot prize points that you can spend on their website. You can play more games that give you more chances of winning as you reveal more of yourself. During your visits, you are tempted to play more. You start to gamble and you get yourself in a situation that most internet gamblers are in. Your free scratch tickets have leading you to the road of online gambling. Months will pass and you would become an active member of the online gambling community. Sooner or later, you would find yourself betting more than you can afford.

Free scratch tickets definitely sound appealing. They would always persuade you to start playing and start winning. Nevertheless, as soon as you start winning; you start to keep yourself from resisting or from stopping.

Sports Gambling – How to Know How Much to Bet Per Event

The most common mistake amateur and professional sports gamblers make is betting too much on individual events. A simple hard and fast rule is to never bet more than 2.5% of your sports betting balance on any given sporting event. However, before we get to the details of how much to bet there are a few basic rules that any sports gambler must remember:

Rule 1: NEVER bet more than you can afford to lose. This is the one rule that too many people ignore before it is too late. Ignoring this the rule creates all the horror stories. In sports gambling you must remember that there will be hot streaks and cold streaks and you do not want to subject your rent money or mortgage payment to any risk what-so-ever. If the money you are using to gamble is earmarked for a necessity then you should not be gambling with it. Only gamble with discretionary income.

Rule 2: NEVER bet with your heart. This, again, is one simple rule that many gamblers seem to ignore. If the Dallas Cowboys are your favorite team, you must recognize (despite what you may think) that you WILL be biased in trying to determine the winner of any of their games. The common (mistaken) logic is that because they are your favorite team you know more about that team and therefore, you should be able to make a determination about the winner of their games. Nothing is further from the truth. The problem with this logic is that you listen to biased Sports Radio regarding your team, you read biased Newspaper articles regarding your team and most importantly, you are biased about your team. The best rule to follow is to avoid betting on any game that involves a team that you have ANY allegiance toward.

Rule 3: NEVER bet on a game because it is on Television. It is okay to bet on a game that is on Television, but do not bet on a game SOLELY because it is on television.

Rule 4: ALWAYS bet the same amount on every event that you bet. To state it differently, do not play $250 on Pittsburgh versus Dallas, $150 on New England versus Indianapolis and $500 on Oakland versus Chicago. The only reason Sports Gamblers do this is because they feel more confident about Oakland versus Chicago, less confident about Pittsburgh versus Dallas and slightly confident about New England versus Indianapolis. All too often, the “best” pick of the day, turns out wrong, a back door cover creates a loss or a late interception causes a change in the result of the game. DO NOT FALL FOR THE 5 STAR LOCK OF THE DAY. This is why: Say Steve bets $500 on Oakland +7 versus Chicago; $250 on Pittsburgh +4 versus Dallas and $150 on New England -3 versus Indianapolis. Further say Tom makes the EXACT three same picks, but bets $300 on each game. Both gamblers have bet $900.00. Assume Oakland does not cover but Pittsburgh and New England do cover. Steve won 2 games and lost 1, but has lost $100.00 ($250+$150-$500). Tom on the other hand has won 2 games and lost 1, but has won $300.00 ($300+$300-$300). There is nothing more frustrating than having a winning percentage, but losing money.

Rule 5: NEVER bet more than 2.5% of your bankroll on any single event. If your balance in your sports betting account is $1000.00 then you should bet $25.00 per game. The reason is very simple. If you bet $25.00 per game you would have to lose 40 straight games before your account busted. If you bet $100.00 per game (10% of your balance) you would only have to lose 10 straight before your account busted. In other words, by betting 2.5% of your account balance on any given game, you INSURE yourself that you will be able to withstand even the worst losing streak. Make sure that you follow Rule #4 as well…Do Not bet more money on one game and less on another.

Rule 6: Once you increase the amount you bet per game, DO NOT reduce the amount you bet per game. Further, you should only increase the amount you bet per game once you have increased your bankroll by 25%. Taking our example above further. If the bankroll is $1,000.00 then the bet is $25.00 per game UNTIL the original balance is increased to $1,250.00. At this point, the amount bet per game is increased to $31.25 per game (or 2.5% of $1,250.00). You would continue at this amount until the balance is increased against by 25% (to $1,560). If you would begin to lose and you fall below the last benchmark YOU DO NOT REDUCE the amount bet per game. If you do, you will find yourself in a never ending cycle.

Following these 6 simple and rather basic rules you will find that sports gambling will become less stressful and more fun.

Gambler Loses Twice – Thanks To Tax Court

Jimmie Clemons, retired, received a Form W-2G reporting $44,800.00 in winnings from a casino. As his gambling losses for the year were more than $44,800.00, he did not report any winnings or losses on his 1040.

The Tax Court, in Jimmie L Clemons T.C. Summary Opinion 2005-109, upheld the IRS position that gross gambling winnings must be reported as income on Page 1 of the tax return, with losses, to the extent of winnings, allowed as a “miscellaneous” Itemized Deduction. The losses can be deducted in full on Schedule A, and are not subject to the 2% of AGI exclusion.

While Jimmie was able to deduct $44,800.00 in losses to wipe out his $44,800.00 of income, the fact that the winnings were included in his Adjusted Gross Income caused 85% of his Social Security benefits to be taxed!

As a tax professional with a practice in New Jersey, and my share of regular lottery players and senior citizens who frequent the casinos of Atlantic City as clients, I have seen many examples where a taxpayer with net gambling losses for the year is royally screwed by “Uncle Sam”.

* Because of the way Social Security and Railroad Retirement benefits are taxed, there often exists a situation where you would be taxed on $1.85 for every additional $1.00 of income. If you have $3,000.00 in gambling winnings and $4,000.00 in substantiated gambling losses you could end up increasing your AGI by $5,550.00 ($3,000.00 x 185%). Even if you can take full advantage of an itemized deduction of $3,000.00 in losses, you still could end up paying $383.00 in federal income tax in the 15% bracket, or $638.00 in the 25% bracket, on a net loss for the year of $1,000.00.

* Even if you can deduct enough losses to wipe out your gambling income, an increased AGI could reduce your allowable medical and miscellaneous job and investment related deductions, reduce or even wipe out a multitude of deductions and credits that are affected by AGI, and even cause you to fall victim to the dreaded Alternative Minimum Tax (AMT).

* You can only receive the full tax benefit from deducting gambling losses if the total of your other Itemized Deductions equals or exceeds the allowable Standard Deduction. What if a single taxpayer with $5,000.00 in winnings and $6,000.00 in losses has only $2,000.00 in other deductions (i.e. state and local taxes and charitable contributions). While he can deduct $5,000.00 in gambling losses, he only gets a tax benefit for $2,000.00 of the losses: $5,000.00 losses + $2,000.00 other deductions = $7,000.00 Schedule A – $5,000.00 Standard Deduction = $2,000.00 tax benefit. If he is in the 25% bracket he still ends up paying $750.00 in federal income tax on $1,000.00 in losses.

I should point out that losses from any type of wagering transaction can be deducted against your gambling winnings. If you win in the slots your deduction is not limited to losses from slot machines. You can deduct losses from the lottery, 50-50s, bingo, table games such as poker and blackjack, charity raffles, horse racing, keno, etc., up to the amount of your total winnings. It is a good idea to keep your losing lottery, raffle and racetrack tickets for the year, and keep track of slot activity by using a player’s card, in case you make a big score. If you are unlucky enough to be chosen for an audit of your losses here is a word of advice – make sure your losing racetrack tickets to not have footprints on them.

You should also know that winnings from a “no purchase necessary” marketing sweepstakes or contest are not considered to be gambling winnings for the purpose of calculating deductible gambling losses. The IRS defines gambling winnings as winnings from a “wagering transaction”. A recent IRS “Technical Advice Memorandum” (TAM 200417004) states that such winings are not gains from a “wagering transaction” because the winner did not furnish “consideration” for the chance to win the prize. If you win the Publisher’s Clearing House sweepstakes, or a trip to Club Med by being the 10th caller to a radio station, you must report the winnings, or the market value of the trip, as income on your Form 1040, but you cannot deduct any losing lottery tickets, slot machine losses, or any other kind of gambling losses against this income.

The unfair way gambling winnings and losses are treated on the 1040 is similar to the unfair way most taxable legal awards and settlements and the related legal fees are treated. Let us hope that the President’s Advisory Panel on Federal Tax Reform will address these inequities in the tax code in its report.