does most people hear bet on the playoffs?

[FrostedMoose]

dont take the dolphins. i bought the other side of this bet to cancel it out because of the coldness in kc.

[disneysteve]

you said bookies decide the line. they don't. oddsmakers do. the opening line is just the opening line. it moves with bets. most betters on a game didn't take the opening line. betters decide the lines just like the stock buyers decide the value of a stock. bookies just take bets and pay out bets for a fee.

Yeah, I was lumping together the bookies and the oddsmakers. Thanks for the correction. My point still stands that the odds for a sports bet are nothing more than educated guesses unlike a casino where they are mathematical facts. There's no opinion or algorithm or consultants involved in determining the odds for craps or roulette or blackjack.

[myrdale]

There's no opinion or algorithm or consultants involved in determining the odds for craps or roulette or blackjack.

Would poker be the exception to this? If you're playing against other people verses just the house, not that luck (random chance) isn't a big part of it, but some level of skill as well?

[disneysteve]

Would poker be the exception to this? If you're playing against other people verses just the house, not that luck (random chance) isn't a big part of it, but some level of skill as well?

There is some skill involved in whether or not you win, but the odds are the odds. If you ever watch poker on TV, they often show the odds for each player as cards are dealt. They are mathematically determined. There's no such determination in sports. Horse #3 might have a better record than horse #7 but a dozen different things could happen to impact how the race turns out. The weather, track conditions, jockey, pole position, and more can all play into it. None of that is true at a poker or blackjack table. Odds are not impacted by outside forces. The dealer's foot slipping mid-hand isn't going to alter the outcome but it could in a sporting event.

[myrdale]

So, what was the final outcome?

[FrostedMoose]

The whole playoffs I only lost $3588. the wild cards kinda screwed me.

[disneysteve]

The whole playoffs I only lost $3588. the wild cards kinda screwed me.

It must be nice to be so wealthy that losing $3,600 isn’t a big deal to you. Most of us don’t have that kind of money to throw away.

[FrostedMoose]

It must be nice to be so wealthy that losing $3,600 isn’t a big deal to you. Most of us don’t have that kind of money to throw away.

I really blame the Cowboys coach. i lost big on that one. goof ball gets blown at home in a wildcard game. thats pretty bad

[Fishindude77]

It must be nice to be so wealthy that losing $3,600 isn;t a big deal to you. Most of us don;t have that kind of money to throw away.

I don't mind a little incidental gambling and $3600 wouldn't terribly disrupt my life, but that amount could really do someone (besides a bookie) some good.
I'd much rather give it to a person or cause I cared about rather than p#ss it away gambling.

[disneysteve]

I don't mind a little incidental gambling and $3600 wouldn't terribly disrupt my life, but that amount could really do someone (besides a bookie) some good.
I'd much rather give it to a person or cause I cared about rather than p#ss it away gambling.

We leave next Sunday for a week at an all inclusive resort in Riviera Maya. The entire trip with air, hotel, food and drink, etc. isn’t costing much more than that.

[ua_guy]

Speaking of gambling losses, ouch... Husband was in Vegas for a convention but played some in his spare time. No big deal, it's expected, he enjoys doing that every now and then for entertainment.

He basically won as much as he lost. The casino issued a tax form. When mocking up our taxes this last week, he is required to pay taxes on the winnings, which is expected. We assumed there would be a deduction offset for the losses. Nope. So we pay taxes on money that he ultimately lost. It's been a week so the reason escapes me, but I recall it needing to be an itemized deduction which we can't use.

[james.hendrickson]

I don't mind a little incidental gambling and $3600 wouldn't terribly disrupt my life, but that amount could really do someone (besides a bookie) some good.
I'd much rather give it to a person or cause I cared about rather than p#ss it away gambling.

I want to point out that $3,600 invested in the stock market at 7% would double in ten years.

Why would anyone want to gamble away a car down payment or a big chunk of your kids college tuition?

[QuarterMillionMan]

Speaking of gambling losses, ouch... Husband was in Vegas for a convention but played some in his spare time. No big deal, it's expected, he enjoys doing that every now and then for entertainment.

He basically won as much as he lost. The casino issued a tax form. When mocking up our taxes this last week, he is required to pay taxes on the winnings, which is expected. We assumed there would be a deduction offset for the losses. Nope. So we pay taxes on money that he ultimately lost. It's been a week so the reason escapes me, but I recall it needing to be an itemized deduction which we can't use.

Offsets allowed only when itemizing deductions for 2023 a single filer's standard deduction was $13,850. In 2023, I won a $4000 hit but since I don't itemize and claim the standardized deduction of $13,850, I will have to pay taxes on the full $4000 win.

[myrdale]

I want to point out that $3,600 invested in the stock market at 7% would double in ten years.......
Why would anyone want to gamble away a car down payment or a big chunk of your kids college tuition?

Keep in mind, $3,600 was the net loss from this series of bets. The total amount wagered was $23,000. It could have been much.. much.. worse.

To reframe your question "Why would anyone want to gamble away a car, or your kids college tuition?"

[myrdale]

The whole playoffs I only lost $3588. the wild cards kinda screwed me.

Thank you for the update!