08/06/2008 - Baltimore, MD (Sportsbook Betting Lines) - Difficult financial times have forced the Maryland Jockey Club (MJC) and Maryland Thoroughbred Horsemen's Association (MTHA) to slash the stakes schedule for the Laurel Park fall meeting. The racing industry in Maryland faces a shortfall in the purse account by the end of 2008.
Primary among the cancelled stakes is the $300,000 De Francis Dash.
"This is terribly disappointing, but these are serious times," said Tom Chuckas, President and CEO of the MJC. "We remain hopeful that the playing field between Maryland and our neighbors to the west, north and east will be leveled and that we will be able to resume running this prominent race in the future."
The other races cut from the schedule are the Laurel Futurity and Selima Stakes, for two-year-olds, the Safely Kept Stakes, John Schapiro and the Sonny Hine.
Only state-bred or state-sired stakes races, including the 23rd running of the Maryland Million on Saturday, October 4, will be conducted during the 17-week Laurel Park meeting which runs from September 4 to December 27. A 10-day summer meeting at Laurel gets underway this Friday and concludes on Thursday, August 21.
Maryland racing is being squeezed by neighboring states that have slot machine gambling. A slots referendum will be on the November ballot.
In another cost cutting move, Pimlico Race Course will be closed for training and stabling, effective August 31.
"We understand this is an inconvenience to the horsemen and we will work with them to ensure a smooth and fluid transition," said Chuckas. "This was a business decision based on the revenue stream."
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special
In any football or basketball game (the main sports that use point spreads) there are two teams playing against each other.
Those teams, though, are rarely exactly evenly matched – meaning that typically one team has a better chance than the other to win the game. If bettors were allowed to bet on who was simply going to win the game, smart ones would obviously bet on the better team (likely winning more than 50% of the time in the process).
If winning were that easy the Las Vegas and online sportsbooks would stop taking any bets! This is where the point spread comes in: the basic function of the point spread is to balance the likelihood of each team “winning” by adjusting the final score by the point spread. After this adjustment is made you get the Against The Spread result (ATS result for short).
Let’s look at Super Bowl XXXIX, New England Patriots vs. Philadelphia Eagles. Most people believed the defending champ Patriots to be the better team – so if betting were simply based upon which team would win the game, an uneven majority of people would have wagered on New England. But, by using the point spread, the bookmakers adjusted the terms of the bet, evening the proposition so about half the people believed the Pats to be the smart bet, while the other half considered Philly to be the smart bet.
New England Patriots -7 vs. Philadelphia Eagles
The better team, called the Favorite, is expected to win the game and must “give” or “lay” points to the weaker team. The favorite is listed with a minus sign and the number of points they are favored by (e.g., New England -7)
In the case of our example, New England must not only win the game, but they must win by more than 7 points for Pats bettors to have a winning ATS result. An Eagles bettor wins his bet either if:
There was also the possibility that the final score could land exactly on the spread number (for example, the Pats winning 28-21 when -7), which is called a “push” or “no action” and a refund is then issued to bettors of both teams.
The same game with the same point spread can be considered from the weaker team’s perspective: The Underdog (Philly in the case of our example) is not expected to win the game and thus receives or “gets” points given by the stronger team. When a game is stated from the underdog’s perspective the team is listed with a plus sign and the number of points they are underdogs by:
Philadelphia Eagles +7 vs. New England Patriots
Keep in mind that Philadelphia +7 and New England -7 is the same point spread on the same game, simply stated differently. The first is from the underdog’s perspective; the later is from the favorite’s.
Not a must, but for some a mathematical approach is insightful. You can determine the ATS winner by either:
Let’s look at the actual result of Super Bowl XXXIX: New England 24 Philadelphia 21
The favorite, New England, won the game but not by more than the point spread they were favored by (7), so the ATS result was a LOSS for Pats bettors.
Looking at it from the underdog’s perspective, Philly did not win the game, but they lost by less than the point spread (7), so the ATS result was a WIN for Eagle bettors.
Mathematically considered, 24 for the favorite Pats minus 7 equals 17, which is less than the 20 the Eagles scored, so the underdog Eagles win the ATS result (or you could figure 20 plus 7 equals 27 for the Eagles, which is more than 24 for the Pats).
Emily’s boyfriend understood the point spread and wagered $100 on the Eagles at +7. The Eagles may not have gotten a Super Bowl ring, but since they won the ATS result Emily’s boyfriend cashed his bet – giving him money to take her out to a nice dinner.
And now hopefully you understand how to read point spreads, putting you one step closer to joining the fun of sports betting.
To visit this internet sportsbook go to MySportsbook.com for all your football betting and World Series odds.
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