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CBS2’s Steve Overmyer explains the dos and don’ts of sports betting. Sports wagering needs to be done in person, which means a trip to Monmouth Park and a sit-down with a sports betting analyst. “Be responsible with your money, do not overextend yourself,” Blackjack Fletcher, a former lawyer, told Overmyer. “There are people who have made a living out of being a sports gambler for a long time. They live in Las Vegas,” he said, adding those people could be making $100,000 a year. But those are the pros. For amateurs, research helps you even the odds. “People are going to look at it and they’re going to say, ‘If the Yankees win 64 percent of their games, I’m just going to bet the Yankees and win 64 percent of the time.’ That’s not right, because you’re going to lay money to bet that team.” A betting line evens things out based on the odds of a team winning. On Thursday, the Yankees were -200. That means you have to bet $200 to win $100.
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