At this time last year, the rise of “prediction markets” like Intrade and the Iowa Electronic Markets heralded a new age for betting on politics. And Hillary Clinton was the prohibitive favorite to become the next President of the United States of America.

Whoops. It turns out the wisdom of crowds has its limits. But it’s still useful for bettors to know that shares in Barack Obama and the Democrats are trading around the $60 mark, which translates to a 60-percent “chance” that Obama will be the next president. If the prediction market is to be trusted, then Obama is too expensive at –270 on the futures market, and John McCain has value at +180. The big question of the day is whom Obama will choose as his running mate. Jim Webb is the favorite at Intrade, but shares are trading at just $20 with a wide field of potential VP candidates. Tim Pawlenty is the Republican fave at $19.20.

It only took a few days for the top clubs at Euro 2008 to separate themselves from the pack. Spain blasted Russia 4-1, Germany crushed Poland 2-0, and Portugal put the cleats to the Czech Republic 3-1. Those victories only solidified their grip on the top three spots on the tournament odds list:

Germany 7-2
Spain 4-1
Portugal 9-2
Holland 5-1

Holland? If you missed it, the Netherlands swarmed Italy 3-0 to put the Azzurri in grave peril. They join France and Romania in Group C, the Group of Death. Italy (10-1) might have to beat France (12-1) on June 17 to advance to the quarterfinals.

Assuming the Dutch side makes it through, taking either France or Italy out of the picture makes life easier on the top favorites from Germany. No disrespect intended to the very talented Netherlands team - they just haven’t had much success internationally since winning Euro 1988. France and Italy have.

The road to the Triple Crown has seemed more like a presidential campaign. Big Brown is inches away from the most prestigious accomplishment in thoroughbred racing. Now the pundits are wondering if he can finish the job.

This Saturday’s Belmont Stakes in Elmonte, New York is the chance of a lifetime for Big Brown and jockey Kent Desormeaux. After cruising to victory at the Kentucky Derby and the Preakness, they’re 1-3 favorites to make history by winning the first Triple Crown in 30 years. But the Belmont is not like the first two races – it’s 1.5 miles long, longer than any other race Big Brown has run.

Trainer Rick Dutrow Jr. has been effusive about Big Brown’s invulnerability. Still, there’s the matter of the crack in his hoof, and the presence of Japanese-trained Casino Drive (7-2), a horse related to the previous two Belmont winners: Jazil and Rags to Riches. It’s a typical Triple Crown-spoiling situation.

Today’s new gamers usually play games like poker, blackjack or slots. Many don’t play the older games like roulette or baccarat. These games have been around a long time, and some of the best odds in the house can be found while playing them.

Roulette has bets that are near even odds. Outside bets like red/black or odd/even give you over 48% to win. If you play, make most of your bets outside bets and play around with a couple of the higher odds bets. Roulette is a social game that’s a favorite with the ladies.

Baccarat is a simple game where you either bet on the bank or the player. The dealer handles the rest. You can bet on a tie, but it puts you at a disadvantage to do so. Bank bets hold a small edge, but you have to pay a small commission when you win one.

The death of filly Eight Belles in the Kentucky Derby has hit the horse racing industry hard this year. Animal rights activists have been up in arms over the cruelty that horses endure to become racers. This is not a new thing; animal lovers have been putting pressure on the racing industry for years. Horse racing has attempted to correct and improve whatever they can, but the dangerous Sport of Kings still has to improve a great deal if it’s going to continue to be accepted in mainstream society.

Improvements have been made to running to surfaces, although this technology is only in its infancy with only a handful of tracks now running synthetic surfaces. But that’s only one aspect of the industry that needs to be addressed. More concern is arising over the breeding practices in thoroughbred racing. Many believe they are leading to degenerative problems in new offspring.

If you’re up to the challenge, Big Brown is attempting to make history at the Belmont Stakes by becoming only the 12th horse in the history of American thoroughbred racing to win the Triple Crown. Bet on Big Brown to win.

This Saturday is Big Brown Day at Pimlico. That’s the plan, anyway. The Kentucky Derby winner is 1-4 to win the 133rd running of the Preakness Stakes. The second favorite in the current field of 12 horses is Behindatthebar at 10-1.

Or you can get all 11 of the underdogs in a package deal. The props market has a bet that asks if the Derby winner will double up at the Preakness. “Yes” is priced at –330, which is actually a deal compared to 1-4. “No” is priced +230.

These odds may have already changed by the time you read this. The field was still in flux at press time; Gayego’s trainer, Paulo Lobo, has been making preliminary moves toward getting his horse ready for the Preakness. A firm decision is pending results on bloodwork tests. Gayego finished 17th at the Derby, but he’d still be the only horse besides Big Brown to make the trip from Louisville to Pimlico.

So I was on the internet the other day, as always, reading blogs and I stumbled upon one that mentioned gambling as a path to hell. I must admit, this made me laugh right out loud. Anyone who believes that there is an actual place that you can go to called hell has a few screws loose.

They did bring up some good points however on gambling addiction which is defined as gambling when it becomes compulsive and the person is no longer thinking rationally about what they are doing. The way I look at gambling it’s not a bad thing, a ‘sin’ or something to be ashamed of. I believe, like many modern day philosophers, that as long as I am not hurting my self or others there should be no problem. From here we can debate what the definition of ‘hurt’ is but no matter how you look at it casual gambling using a rational mind, there is nothing wrong with it.

Taking a quote from this article: As the time passes, lying becomes a characteristic feature of the gambler and the family persons learns not to trust the individual. Gambling is always associated with physical symptoms like anxiety, headaches, and depression leading to smoking and alcohol consumption.

I feel that this statement is misleading. It is not the gambling that is wrong, it is the person. Do we not have control over our own actions? Do we not have a choice to make in every second of our lives? If you really think hard about these questions the only answer you have left is yes. These ‘symptoms’ of gambling are just mere choices that the person is making. Gambling does not have the power, the people do and they make the choice to throw it away.

If you feel differently about this, I’d like to hear your thoughts.

He came close to losing out big time, but Roger Federer is back and just in time to face his No. 1 clay court rival: Rafael Nadal.

Rafael Nadal, who has been playing some of the best tennis of his career in Monte Carlo this past week, goes head-to-head against Federer in the Monte Carlo final for the third year in a row on Sunday. If he wins, it’ll be Nadal’s fourth successive title at Europe’s opening ATP Masters Series event.

Nadal leads 8-6 in all meetings against Federer and is 6-1 ahead in their matches on clay. Read more about the Federer-Nadal rivalry here; and get all your tennis odds at the Bodog Sportsbook (where Nadal is the -250 to win).

Winning the NBA’s Most Improved Player award must be a lot like winning a silver medal at the Olympics. You can almost taste the condescension. But the kind of player that usually wins this award is exactly the kind of player handicappers love: undervalued.

Last year’s winner, Monta Ellis, was a key contributor to Golden State’s 44-37-1 record against the spread (plus 6-4-1 ATS in the playoffs). Statheads already knew about Ellis thanks to his promising 11.13 Player Efficiency Rating as a rookie. Boston’s Glen “Big Baby” Davis (11.35 PER) could follow the same path as Ellis, from second-round draft pick to emerging star.

It isn’t always sophomores who win the MIP. The very likely winner this time will be Orlando’s Hedo Turkoglu. The eight-year veteran stayed relatively healthy in 2007-08, and with Rashard Lewis put next to him on the Magic frontline, Turkoglu enjoyed a career season with 19.5 points per game and a 17.81 PER. Orlando supporters profited at 50-29-3.

Baseball used to be known as the national pastime but not anymore. Gambling has taken over.

Sports gambling is America’s gamble of choice. The numbers produced by sports gambling are stunning. According to the U.S. Congress’ Gambling Impact Study, over $380 billion dollars is wagered on sports annually in the United States, making sports wagering the most widespread form of gambling. That $380 billion is more than the entire U.S. auto industry at $350 billion or the entire women’s clothing industry with $90 billion. According to USA Today, more than one out of every two adults in America places a bet on sports each year, with the Super Bowl being the largest betting event in the world.

So why is sports gambling so popular? Maybe it has to do with how lazy we have gotten, but its simple; you don’t have to leave your couch to bet on sports. We are a nation of sports lovers; we love competition and most are money hungry. Sports betting brings all 3 together in one nice little package. Now with online Sportsbooks and Racebooks it’s no surprise that it has become so widespread.

So the next time you sit at your favorite pub, watching your favorite game, hoping for one more win, take pride in knowing you’re helping build Americas new pastime. Good luck!