In this case study, you will learn how the legal landscape of gaming has changed as a result of sports betting. Betting on sporting events is a billion dollar industry that spans across countries and states. It’s important to know what it takes to profit from these wagers in order to take full advantage when placing your bets.,
The “celtics nets prediction tonight” is a bet that took place on the Boston Celtics and Brooklyn Nets. The bet was made by a sportsbook that had an offer for $100 to anyone who would predict the outcome of the game.
The seventh-seeded Brooklyn Nets were favored to overcome the second-seeded Boston Celtics in their first-round playoff series for around two hours late Tuesday night at Caesars Sportsbook.
Shortly after Brooklyn defeated the Cleveland Cavaliers in the NBA play-in round, Caesars set the Nets as -135 favorites to win the series. The Celtics started as -115 underdogs, but those odds were short-lived.
Other bookies were perplexed by Caesars’ early estimates and labeled the Celtics the favorites instead. The Celtics began as a -150 favorite at Westgate Las Vegas’ SuperBook, with the Nets as +130 underdogs. Bettors with a keen sense of opportunity saw an opening.
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It’s a common cliche in the betting industry, but there was free money to be gained for around two hours on Tuesday, from 9:45 p.m. ET until about midnight. Bets flooded in on the Celtics at plus-money at Caesars, while bettors hammered the Nets at plus-money at the SuperBook and other shops that had started with Boston as the favorite. For example, if you bet $1,000 on the Celtics at +115 at Caesars and $1,000 on the Nets at +130 at the SuperBook, you’ll earn at least $150. [Editor’s note: ESPN and Caesars Sportsbook have a collaboration.]
By midnight, the chances at Caesars had swung significantly in favor of Boston. After the early rush of business on the Celtics subsided on Wednesday morning, the bookmaker stated that Boston had received 98 percent of the money staked on the series. The Nets, on the other hand, received 95 percent of the money gambled on the series at the SuperBook.
The Celtics have been placed as -145 favorites by the betting public. On Sunday, Boston is a 4-point favorite against the Nets in Game 1.
A dispute within the odds-making staff led to the decision to begin the Nets as the favorite, according to Craig Mucklow, vice president of trading at Caesars Sportsbook.
In an email to ESPN, Mucklow stated, “We dipped our toe in the water with the notion that the Game 1 line would not be a typical line for the remainder of the series and made the Brooklyn Nets a modest favorite.” “Of course, the money poured in for Boston, which lowered our chances.”
The initial wagers on Boston came from “guys we respect, nothing huge in terms of size, but very smart judges that we moved for,” according to Mucklow.
The Celtics were started as -150 favorites in the series by Jeff Sherman, a vice president of risk management who controls NBA odds for the SuperBook, based in part on the Game 1 point spread of Boston -4 and the implied likelihood that line indicated. Sherman used the Toronto Raptors-Philadelphia 76ers series pricing and Game 1 point spread as an example of how he came up with his opening figures. The 76ers entered as -175 favorites to win the series, despite being 4.5-point favorites against Toronto in Game 1.
“Because of the disparities in the marketplace, it’s really been one-way traffic [on Brooklyn],” Sherman said of the early activity in the Nets-Celtics series.
The cost of an NBA playoff series
[as of Thursday, via Caesars Sportsbook]
Boston Celtics (+125) vs. Brooklyn Nets (-145) Memphis Grizzlies (+310) vs. Minnesota Timberwolves (-400) Golden State Warriors (+200) vs. Denver Nuggets (-240) Dallas Mavericks (+250) vs. Utah Jazz (-320) Philadelphia 76ers (+160) vs. Toronto Raptors (-190) Milwaukee Bucks (+700) vs. Chicago Bulls (-1,100)
The “nets celtics covers” is a bet that was made on the Boston Celtics. The bet was taken advantage of by the Nets, who won against the Celtics in game 3.
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