Earlier this week, I became one of the relatively few people who have gambled legally on sports in New England.
There are only 8 states with legal sports books. Rhode Island is the only one of those states in New England. It started accepting bets 53 days ago.
I’m sure quite a few people have placed bets in 53 days, but as you probably know, Rhode Island is a small place, and I doubt people from other states have flocked down here to place a sports bet.
I’m well aware that betting on sports is not a good financial decision. I don’t think I can beat the house. I would be surprised if I place more than 3 bets this year.
I’m not going to say that I believe in signs or fate. However, I think there’s quite a set of coincidences afoot.
- I happened to be in the same town as the casino for another reason. If I had to drive more than 5 minutes out of my way, maybe I wouldn’t have done it.
- I thought it might be an interesting, unique thing to write about. It’s not every day you read a personal finance blogger write about gambling. It’s also a good weekend bonus article.
- I am totally going to beat the house. See I didn’t “think” it (as I said above), I “know” it. (This over-confidence is also going to jinx me.)
Before I go any further, here’s what I’m betting:
For those who don’t know how to read a betting stub, I’m betting on the New England Patriots to win today. Since they are the underdog (likely to lose), I’ll get a little more money than gambled. I gave the casino $50 and they’ll give me $110 if the Patriots win. That’s a net win of $60. If the Patriots lose the casino will keep my $50.
I was going to go into a lengthy list of reasons why I’m confident about the Patriots winning today. Unless you are reading this from 6 states, you aren’t interested in that. Instead, I’ll just say that this is the first time that Tom Brady hasn’t been favored in 69 games. The casino is willing to give me more money than I’m betting and I’ve got the greatest player in history and the best defense. I’ll completely ignore that the Patriots are on the road against who will be the league MVP.
It’s going to be fun.
Update: I won the bet! It’s good to beat the big business of sports betting.
Congratulations!
Who needs the stock market! 105% in one day. That game was freakign painful for 98% of America
It was painful the New Englanders too.
Score! I missed the whole thing. Patriots for the win on Superbowl Sunday? You can bet another $50. :)
I’m very, very tempted.
Well based on the other comments, it sounds like you won? If so, congrats! I think a little gambling once in a while is fun. It’s when we make a habit of it that it gets dangerous. Otherwise, it’s just like any other outlay we work into the budget.
Yep, it worked out that time. I haven’t decided whether to gamble on the last football game of the season. Then I’m pretty much out by default of there not being much more to gamble on (except maybe the Red Sox to win the World Series, but that’s only one other bet too.)