Pro Bettor James Holzhauer’s Key to Success

“Holzhauer has dominated “Jeopardy!” like no one else since the current version of the television game show had its premiere in 1984. He won again on the episode that aired Wednesday, pushing his total earnings above $1.1 million, second on the all-time list behind the legendary Ken Jennings.”

The NY Times interviewed Holzbauer in the spring of 2019, asking him several questions of how he was so successful on the popular show.

The big key to his success was going aggressive from the opening bell.  He would go right for the $1,000 questions, skipping the lower tier amounts.

As stated in the NY piece, you could make an analogy to sports betting or poker tournaments. There are big advantages to having a lot of chips early on in a poker tournament. Consequently, the bettor can make plays that other people can’t.

Would you describe the traditional way of playing “Jeopardy!” as overly risk-averse?

“I would definitely say it’s too risk-averse,” explained Holzbauer.  “The funny thing is, my strategy actually minimizes the risk of me losing a game. There’s times in a football game where a team goes for a big TD pass. If you don’t take a risk like that, you’re not going to win. Really, the big risk is never trying anything that looks like a big gamble.”

You can read the full Times interview of Holzhauer here.

 

The People’s Horse in this Year’s Kentucky Derby?

LOUISVILLE, Ky., July, 2020 /PRNewswire/ — This year’s Kentucky Derby could feature a “People’s Horse” like never before. Max Player, the Linda Rice-trained colt who currently sits 15th on the official Road to the Kentucky Derby leaderboard, is now available for a second public investment.

Prior to the son of Honor Code’s impressive 3rd in last month’s Belmont Stakes, more than 500 individual investors snapped up shares in the Triple Crown contender through SportBLX Thoroughbreds – a corporation that owns interests in several racehorses, including a 14% stake in Max Player.

Max Player also spearheads SportBLX’s latest offering, Annestes Thoroughbreds, which focuses solely on Kentucky-bred horses raised on SportBLX owner George Hall’s farm in Versailles, KY.

Hall – who owned 2011 Belmont Stakes winner, Ruler On Ice, and is the breeder and majority owner of Max Player – anticipates that more than 2,000 individual owners could be cheering the colt to win this year’s Run For The Roses on Saturday, September 5th.

“Owning a share of a horse that runs in the Kentucky Derby is the dream of millions of racing and sports fans, and we are thrilled to potentially be able to make that dream come true for so many of our investors this year,” said Hall.

In addition to racehorses, SportBLX’s technology platform enables sports fans to purchase shares in professional sports assets, including revenue-share interests in player earnings and equity interests in teams.

Max Player will next contest the Grade 1 Travers Stakes at Sarasota on August 8th.

Fans and investors have until 2:00 p.m. on August 8th, to purchase shares in Annestes Thoroughbreds via the SportBLX website. The offering is open to accredited and non-accredited investors and can be found at https://sportblx.com/offerings/annestes-thoroughbreds/.

For a video of Max Player click here

About SportBLXSportBLX is a technology platform that enables sports fans and investors to purchase shares in horse racing and sports assets via an online platform, including revenue-share interests in player earnings, and equity interests in teams. The company partners with existing brokers/dealers that distribute the securities. For more information visit www.sportblx.com.

New Jersey Sports Betting Handle Smashes Own Record With Over Half a Billion in 1 Month

New Jersey Sports Betting Handle Smashes Own Record With $562.7 Million In NovemberThe New Jersey sports betting market exploded to a new record high for total dollars wagered in a single month — $562.7 million in November, the first time Garden State sportsbooks handled in excess of half a billion dollars in a single month. This now makes three consecutive months […]

While it is no longer possible to pinpoint the exact betting handle at every online sportsbook, barring self-disclosures, we can see that the combination of FanDuel Sportsbook and PointsBet — operating through partnerships with the Meadowlands Racetrack — produced $12.2 million in revenue in November.

Couple that with $2.67 million in revenue via the physical FanDuel Sportsbook located at the Meadowlands, about eight miles from New York City, and it’s almost $15 million, or nearly half of the entire state’s combined operator gross revenue.

More about New Jersey Sports Betting Handle:

NY and CA are prime examples of why all states don’t have sports betting . . . yet

New York and California are prime examples of why all states don’t have sports betting . . . yet Off Shore Gaming Assocation Hartley examines why just a handful of U.S. states have passed sports betting laws, despite the repeal of PASPA nearly seven months ago.

Source: NY and CA are prime examples of why all states don’t have sports betting . . . yet

Daily Fantasy Tax Reporting

Sports betting“At the onset of Daily Fantasy Sports, there was much debate as to what type of “activity” individuals are engaging in. The IRS determined that playing DFS was a game of skill and technical ability. Players had to develop a strategy, research athletes, and build a team that will gain the most points possible in order to win a “set prize.” Compared to gambling activities, where the IRS views those activities as a game of “luck,” winning an undeterminable amount (the professional gamblers in the community would disagree). This distinction caused DraftKings and Fan Duel to mail out Form 1099-Misc to their participants. This opens up DFS income into a grey area of taxation. Is your playing style a hobby or full time job/business? We will discuss further.

Note: You cannot write off gambling losses against your DFS income. They are two different activities with different tax rules. Sorry!

If you have winnings of over $600 from any daily fantasy sports site, such as FanDuel or DraftKings, you will likely receive a Form 1099-MISC with the amount shown on Box 3. It is advised that you to report all earnings on your income tax return and not just earnings reported to you on a 1099-MISC or other tax forms…”

Daily Fantasy Tax Reporting.  Read the rest below.

RotoGrinders: Daily Fantasy Tax Reporting

NJ horse racing group sues major sports leagues over bet losses

The action filed by the New Jersey Thoroughbred Horsemen’s Association claims the leagues acted in bad faith when they sought a restraining order in 2014 to block Monmouth Park Racetrack from offering sports betting, because the pro leagues were actively promoting and endorsing businesses that made millions from fantasy sports games that rely on …

Source: NJ horse racing group sues major sports leagues over bet losses

Daily Fantasy Sports (DFS): Is it gambling?

A Game of Skill or Gambling?

Some states, such as Nevada recently banned sites like fantasy sports website DraftKings after accusations surfaced of employees participating in the contests with insider information. Some believe the websites should be regulated like gambling websites.

Source: Daily fantasy sports: Is it gambling?

NJ’s Christie to Attend Sports Betting Arguments at U.S. Supreme Court

A “cautiously optimistic” Gov. Chris Christie will be at the U.S. Supreme Court Monday to to lend moral support as New Jersey lawyers try to convince the justices to allow legal sports betting at Garden State racetracks and casinos. “I’m looking forward to being in court,” Christie told reporters at a public event in Newark Wednesday.… [Read more…]

N.J. is prepping for legal sports betting, but what will court rule?

Sports bettingOCEANPORT — It was supposed to be the first of its kind in New Jersey: a lounge at Monmouth Park racetrack where people could legally bet on sports games — just like they do in Las Vegas. Four years after it was built, not a single bet has been placed. The lounge at the Oceanport track… [Read more…]

N.J. Sports Wagering Case stuck in limbo with U.S. Supreme Court

TRENTON — Monday was expected to be the day the U.S. Supreme Court would announce whether it will hear New Jersey’s years-long effort to legalize sports betting at casinos and racetracks. But a decision never came, either for or against the state. Now, experts say, the nation’s highest court could make an announcement Tuesday — though… [Read more…]