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Dear Mark: When playing craps, I am aware that it is best to stay away from any prop box bets.You can’t, Bill, have it both ways. But if you followed trusted lines rather than most of the polls in the 2012 presidential race you knew the results well ahead of November 4th – much to the chagrin of the losing side....

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Hedge betting by using one wager to offset the “negative probabilities” of another wager is just not smart betting on a crap game.This early in the game the sports betting sites will start to see new blood with day traders taking some of their Wall Street efforts to the books and Daily Fantasy Sports players trying something new with better hopes of winning than they may find against the DFS sharks. The logic here is analogous to diversifying your investment portfolio by buying bonds to “protect” against losses that you might experience in the stock market....

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