Chase Betting Systems (Also Known As Dog Chase Betting)

If you are an experienced sports gambler you know the old adage, that if you chase your loses you will lose your shirt and be certain to bust your account. It is time to throw all that non-sense out of the window and learn for the first time, that chasing your loses is the best possible scenario. In order to make money using a chase betting system you need three items at your disposal:

1. A decent bankroll (or account balance)

2. A Plan

3. A strong stomach to carry out the plan

The old adage states that: he who chases his losses will burn through his bankroll. This is true, only if you do not have a true plan, a strong stomach and a decent bankroll. Let me explain. The old adage comes from the gambler who bets $100 on Team 1 to win today. Team 1 loses, thus tomorrow the gambler bets $200 on Team 2 to win (he thinks he can not lose twice in a row and plus Team 2 is a sure thing). Team 2 loses, then on day 3 he bets his remaining bankroll on Team 3, he loses and within three days his bankroll busts. The old adage is true, for this gambler…not for you.

You see a chase system uses simple mathematics to ensure that you do not ever lose money. However, you must make sure you bet the correct amount and you must have the guts to follow through with this program. The system is easy to follow regardless of which sport you bet on and regardless of if you are chasing a specific team or a general sport. In 2007, AFSB completed a study of the chase system in the NHL focusing on the Montreal Canadians. The system worked like this: On day 1, $25.00 was bet on Montreal, if Montreal lost, then the next time that Montreal played $50.00 was bet on Montreal, if Montreal lost again, then in the next game $100.00 was bet on Montreal, if Montreal lost that game then $200.00 was bet on Montreal and so on until Montreal wins or you run out of money. Once Montreal wins then the system resets and the next time Montreal won $25 was bet on Montreal in their next game, if they lost then in the next game $50 was bet on Montreal, however, if they won, then in the next game $25 was bet on Montreal.

This simple system made us $1,210.00 in the NBA Playoffs in 2007 (see our Article on Absolutely Free Sports Bets regarding the NBA Dog-Chase System). We again used this system in the 2008 MLB playoffs and picked up a nice $1,373.00.

In the 2010 NCAA Basketball season we are utilizing this system in a more generic manner. We are playing one Dog-Chase and one Favorite-Chase that is not team specific. Click on our Free Picks link to see the details of the 2010 NCAA Basketball Chase System hard at work.

In order to ensure that your account does not bust we recommend that you only bet with 1/4 of the normal amount that you gamble with per game. For example, if you bet $100 per game, then under a chase system you should only bet $25.00 per game. This is why:

The chase system is based upon the premise that you should not be able to incorrectly handicap a game for seven days in a row. If you are betting $100.00 per event in a chase system, and are incorrect 7 times in a row then you will be betting $6,400.00 on the seventh game ($100, $200, $400, $800, $1,600, $3,200, $6,400). To protect yourself you should bet 1/4 of the normal amount, in our examples we assume 1/4 would be $25.00 per event ($25, $50, $100, $200, $400, $800, and $1,600).

Let’s examine the power of the Chase system. Let’s examine one gambler who bets on 14 games (1 per day, over a 14 day period) and this gambler does not do so well, he wins 6 and loses 8. Example 1 below shows if he simply bets $100.00 per game at a normal -110 per game. Example 2 shows the same gambler with the same results, however, he bets $25.00 in a Chase system.

Example 1 – Sports Gambler that wins 6 bets and loses 8

betting $100.00 per game, one game per day

Game 1: Winner, $91.00

Game 2: Winner, $91.00

Game 3: Loss -$100.00

Game 4: Loss -$100.00

Game 5: Loss -$100.00

Game 6: Winner $91.00

Game 7: Loss -$100.00

Game 8: Loss -$100.00

Game 9: Winner $91.00

Game10: Loss -$100.00

Game 11: Winner $91.00

Game 12: Loss -$100.00

Game 13: Loss -$100.00

Game 14: Winner $91.00

This gambler is 6-8 and lost $254.00 over a two week period.

Example 2 – Sports Gambler that wins 6 bets and loses 8

betting $25.00 per game (with chase rules), one game per day

Game 1: 25 is bet and Wins $23.00, so in the next game:

Game 2: 25 is bet and Wins $23.00, so in the next game:

Game 3: 25 is bet and Loss -$25.00, so in the next game:

Game 4: 50 is bet and Loss -$50.00, so in the next game:

Game 5: $100 is bet and Loss -$100.00, so in the next game:

Game 6: $200 is bet and Wins +$182.00, so in the next game:

Game 7: $25 is bet and Loss -$25.00, so in the next game:

Game 8: $50 is bet and Loss -$50.00, so in the next game:

Game 9: $100 is bet and Wins $91.00, so in the next game:

Game10: $25 is bet and Loss -$25.00, so in the next game:

Game 11: $50 is bet and Wins $45.00, so in the next game:

Game 12: $25 is bet and Loss -$25.00, so in the next game:

Game 13: $50 is bet and Loss -$50.00, so in the next game:

Game 14: $100 is bet and Wins $91.00

This gambler is 6-8 and WON $105.00 over a two week period with a losing record.

Obviously you can use this system in way you wish, here are some possibilities:

(1) Team specific. In 2007, in the NHL we only used this system betting on Montreal. If Montreal lost, we doubled up on the next game, if they won, then in the next game we reverted back to our starting point.

(2) Position specific: In 2010, we are playing one dog and one favorite every day in NCAA Basketball, if the dog loses then we double up on a different dog the next day, if the dog wins then the next day we revert back to our starting point. (The same is true for our favorite system)

(3) Position specific within a series: In the 2007 NBA playoffs we played on the dog throughout a series, thus the dog could be Team 1 in game one vs. Team 2, but then Team 2 could be the dog in game 2. We played on the dog regardless of who we played on the previous game.

You must be cautioned, there will be a point wherein you find yourself wagering more than you ever wagered before on one game, however, when that game hits your profits skyrocket. Please do not bet your normal unit, bet 1/4 or less.

If you are skeptical, review our article on NBA Dog-Chase from 2007, view our results from the 2008 MLB Playoffs, or just click on the Free Picks link from our web site and see how the system is working in 2010. Once you see how good it works, you will be addicted.

Taxes on Your Gambling Winnings – You Owe Uncle Sam a Piece No Matter How Much You Won

When you’re gambling at a casino, you may win a few bucks here and there and leave with more dollars than you brought with you. It may be as little as $20, or as much as $1,000. When cashing out you were never presented you with a form to declare your winnings to the IRS. If you think you’re home free, think again. As a U.S. citizen, you owe Uncle Sam a piece of the action regardless of the amount. Many players think that just because they were not given a tax form there’re home free. Not so.

So, what does get reported to the IRS? Larger amounts that are won at gambling establishments such as casinos, lottery retailers, horse race tracks and off-track betting parlors. They will issue a form W-2G, one copy to you and one to the IRS. Here are some details:

Machine Games

$1,200 or more won at a slot machine, video poker, video keno, video blackjack, etc. This only applies to a single jackpot payout amount. Accumulated credits are credit meter wins and do not count.

$1,200 or more won at a live bingo game will also trigger a W-2G, and $1,500 or more at a live keno game (minus your wager amounts).

The casino will not withhold any gambling taxes from awards in the $1,200 to $1,500 range provided you present a valid photo ID and social security number. If you do not provide this information, 28% will be withheld.

Live Table Games

Winnings from live table games are not reportable on a W-2G, except if there is a very large prize amount offered for a small wager, such as a dollar bet for a shot at a progressive table jackpot, where the winning odds are over 300/1 and the win is more than $600. For example, Caribbean Stud offers a huge progressive jackpot for wagering only $1, if you’re lucky enough to hit a Royal Flush.

If you win $600 or more in any other wagering game, such as horse, dog racing or sports betting, and the amount is at least 300 times your bet minus your wager amount, the establishment will gift you with a W-2G. If your winnings exceed $5,000 and the amount is more than 300 times your bet, 25% will be withheld. The same withholding percentage also applies to any cash prize of $5,000 or more in poker or other card tournaments minus the buy-in amount.

Winnings on state lottery games such as lotto, numbers, scratch-offs, etc. can be collected at your local retailer up to $600. Any more and you’ll have to visit the main lottery office in your community, where a W-2G also awaits you. This information is from the New York lottery. Other states may have different rules.

Winnings on Daily Fantasy Sports (DFS) contests at this time are considered games of skill. DFS sites will issue a 1099-MISC, not a W-2G for winnings of $600 or more.

Video Lottery Terminals (VLT)

$600 or more in winnings from any class II ​Video Lottery Terminal game will also invite a W-2G. This includes any winnings on machines at jurisdictions that are operated by a state lottery. For example, New York State has nine race tracks with VLT’s that are pseudo slot and video poker machines.

Deductions

The good news in all of this is that gambling losses are tax deductible but only up to the amount of your winnings, and only if you itemize deductions on your tax return.

The IRS wants to make sure that you indeed lost what you claim you lost, so a record of all your losses is required. Win- loss statements are available from most major casinos at the end of the year, provided you used your player’s club card when playing machines. Save those losing scratch-off tickets, Lotto, Powerball, and Mega-Millions tickets, daily numbers, Quick Draw, OTB, etc.

For losses on Daily Fantasy Sports contests, the IRS position at this time is unclear. Because of the skill factor, your winnings are in the hobby category. Therefore, any losses would not be deductible, although this situation could change at any time.

You don’t have to record the tickets on your tax statement, but they may be necessary if you are audited. All the IRS wants to know is the type of wager, the amount of the bet and the date of the transaction.

Always play it safe and check with your tax preparer for your personal needs.

Online Gambling – Its Advantages and Disadvantages

Online gambling has become a popular game now. The history of online gambling is not very old. This game has both a good and a bad side. In certain cases playing online gambling is better than playing at live casinos and in some ways it is not. We can understand this better if we look at the various pros and cons of online gambling.

Let us first see the pros. The market of online casino and gambling is a highly competitive one. Some of the sites offer big bonuses that helps in attracting the players and they can make money. Besides, a number of sites offer various types of promotions and rewards for keeping their players.

As compared to live casinos, the online casino games have better odds and more forgiving rules as they do not posses the same overhead costs as is found in case of real casinos. The greatest advantage is that you can play it directly from your home if you have an internet access there. You do not need to travel for playing the game online.

Playing online casino games also keeps you away from the huge crowd that is found at live casino parlors. You can play at your own convenience at anytime of the day you feel like. There is no one to distract you while you are on with a game. Besides, you also do not require giving tip to the staff. Thus it helps in saving your pocket.

These were so far the positive sides of playing online gambling. Let us now take a look at its negative sides. The withdrawals associated with the game can take a longer time to come. This is not the case with live casinos. However, the money in online gambling gets transferred directly to the bank account.

Another major problem with online gambling and casino is that you do not get customer service instantly, which is true for live casinos. The online casino sites generally have telephonic support or live chat team for the players. However, the service is not that fast.

If you want to try out a variety of games at different online casino gaming sites, then you need to deposit money at each of them rather than carrying the cash around that is possible at live casinos. It depends upon you whether you find it comfortable to play at a live casino parlor or an online casino.

How to Play Bingo Online – Some Tips in Playing and Winning

Indeed, you can now enjoy your favorite bingo game at the comforts of your own home. With the advent of the internet, many casino games can now be played online, and you can still make money from it as well.

With global audience betting on online bingo, jackpot prizes can also be big. Online bingo is also available round the clock and you may need to visit an online bingo game site and sign up so that you can play the game.

You may be asked to download a specific software that will allow you to play the game as well. Like online poker, online roulette and other casino games online, you will be dealing with everything virtually.

Online random number generator will pick the numbers for the game after you will be given a random card through your software. And like the normal bingo game, you will then mark the winning pattern. Of course, the mechanics of the game is still the same. With the random number generator generating the numbers, you can then call bingo if you got the correct pattern.

Although it is a good strategy to play several cards at once, some bingo sites may limit the number of cards you can play. But if you decide to play several cards at once, it is important to pick a number that is manageable. Of course, having a number of cards that you can’t manage to make may be a reason for you to lose in bingo, so make sure to limit it at a number that you can manage.

As there are many websites online that offer online bingo games, you can also choose from sites that have fewer players. Fewer players can mean good chances in winning the jackpot, and of course, having a lot of players in one site can mean slimmer chance of grabbing the prize. However, you have to also keep in mind that fewer players may also mean a smaller prize money. But if course, it is still better to get winnings in a site with fewer people than not winning at all in a big crowd of bingo players.

What is great if you play bingo online is that, you can play anytime, switch game rooms anytime and you can play anywhere in the world for as long as you have your internet connection. Even though you are at home playing, you can still feel and see a simulated bingo hall as if you are actually in a bingo hall and you can also interact with other players through chatting.

Indeed, you can play bingo online and can still feel the fun that comes along with it. However, it is important to keep in mind that although bingo games can make you win good money, the game is still a good one for fun. Making extra cash may just be a plus factor.

In such a risky gambling game, it is not practical to invest a lot or all of your money to it as there can be more risks than certainty when it comes to gambling games like bingo.

How to Be Lucky When Gambling in a Casino, Poker Game, Lottery Or Horse Racing Using Proven Methods

Luck is the most important part of gambling, as anyone who has spent any time in a casino, at the race track betting on horse racing, playing the lottery, poker, blackjack or any game of chance can tell you. Some people seem to be luckier than others and demonstrate the truth behind the old saying, “I’d rather be lucky than good.” How true that is. Good luck will get you through almost anything and no matter how deep you may appear to be in the soup, you may come out smelling like a rose if you have good fortune.

Of course, most people believe that it is impossible to change destiny or fortune so it is impossible to control your luck, but that may not actually be the case. Science has demonstrated that there are times when people win more and lose less. In his book, “The Conscious Universe,” Professor Dean Radin analyzed the results of four years of data from casinos. He was looking for a correlation between the phases of the moon, strength of the Earth’s geomagnetic fields, and casino payout percentages. During the full moon the Earth’s geomagnetic field is usually at its weakest. Professor Radin believes there may be some connection between the Earth’s magnetic fields, the moon, human psychic ability, and gambling.

One scientific study that Prof. Radin mentions in his book did demonstrate that people seem to be more psychic during the full moon, then their abilities seem to wane during the quarter moons and increase again during the new moon. This fluctuation in psychic ability seems to also follow luck because four years of casino data showed that payouts increased at the time of the full moon and decreased at other times for most casino games studied. Perhaps our intuition or psychic ability really does help us to win, whether it is picking the slot machine that is about to pay out, or knowing whether to hit a 13 at the blackjack table, or which horse will win the race. Poker players can certainly use intuition to their benefit.

The conclusion he reached was that if gamblers avoided the casinos during the quarter moons and gambled around the time of the full moon, they would decrease their losses or even win a profit. Of course, these are just generalizations and should not be considered an inducement to gamble, but they show promise for really understanding how to be lucky.

Lotteries showed a different trend. It appears that Pick 3 style lotteries pay out more during the times of the quarter moons and lower payouts during the full moon. Fluctuations in the magnetic fields of the earth, once again, seemed to have an effect. While the phase of the moon or strength of the earth’s fields will not guarantee you a winner, it may be a good idea to start making your winning and losing days on a calendar and watch where they fall according to the moon’s phases.

Other studies have shown that when people have a positive attitude and expect to win, they actually do win more often. That makes sense, doesn’t it? If you expect to win you may make choices that will have a positive effect. For instance, if you are in a casino and looking for a blackjack table and expect to lose, you won’t be too fussy about which table you sit at. But if you expect to win you may take more time selecting the table and finding one where the gamblers seem to be happier and smiling, meaning they are winning and the table is paying out better. You may not do it consciously, but you could do this and other things subconsciously just because you have a winning attitude and expect to win. We make a lot of choices when gambling whether we are at the race track betting on horse racing or choosing a place or game in a casino or even selecting lottery numbers.

So my advice to you is that you keep track of your winning and losing days and the phases of the moon. Also, keep a positive attitude. If you expect to win, perhaps it is a good day to take a chance, but if you expect to lose or just don’t feel lucky, maybe it would be better to save your money until you feel the earth’s fields, moon, or just plain old luck are working for you.