Farmers Insurance signs four-year extension for San Diego event

Golf Betting Lines

03/15/2010 - Ponte Vedra Beach, FL (Sportsbook Betting Lines) - The PGA Tour announced Monday that the Farmers Insurance Group has signed a four-year deal to remain as the title sponsor for the Farmers Insurance Open at Torrey Pines.

Farmers was the title sponsor for the first time earlier this year when Ben Crane fended off Michael Sim, Brandt Snedeker and Marc Leishman by a single stroke.

"We're absolutely delighted that Farmers, based upon its positive experience with the 2010 tournament, has agreed to continue as title sponsor over the next four years," stated PGA Tour Commissioner Tim Finchem. "Farmers Insurance did such an outstanding job of becoming fully engaged with the tournament on such short notice and in maximizing its role as title sponsor. We now look forward to working with Farmers Insurance on a long-term basis along with the host organization, the Century Club of San Diego, to continue the growth and local impact of the Farmers Insurance Open."

Buick had been the tournament's sponsor since 1992 prior to Farmers taking over this year.

With the new agreement, the tournament purse will climb $500,000 from $5.3 million to $5.8 million in 2011.

"We are extremely pleased to announce this continuing partnership with the PGA Tour, the Century Club and the city of San Diego," stated F. Robert Woudstra, Chief Executive Officer of Farmers Insurance. "Farmers Insurance has a proud, 82-year history of strong national and local community leadership and charitable giving."

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SPORTS BETTING

NFL Football Betting Online

In terms of sports wagering, the NFL is "the most popular game in town." The explanation behind that is easy.

It is called the "pointspread."

Many years ago, NFL games, as well as the more popular college games, used straight odds as a vehicle for betting. For example, if the Bears were playing the Giants, and it shaped up as a competitive contest, the Bears might be, say, a 7/5 favorite. If they were playing an also-ran, it might be 10/1. Well, there is a point where a line becomes prohibitive, as far as betting the favorite. And who would waste money betting an underdog that has virtually no chance? Such a setup did not contribute to promoting betting action.

But in modern sports betting, a "pointspread" is used.

A NFL pointspreads are exactly that, a pre-established point difference between the two sides that will, for all intents and purposes, create a handicap that evens things out, and in doing so, produces comparable wagering activity on both sides of that proposition. So in lieu of a odds figure in which to bet the team to win outright, the Bears might be a three-point favorite over the New York Giants, and a 17-point favorite over the also-ran. Now that the team that is the underdog can "get" points, there can be equal action on both sides.

In sportsbooks, this is usually done with efficiency by charging the losing bettors 10% extra - in effect, bettors are laying 11/10 on those games. So they are actually betting $110 to win $100. If they lose, they pay the "vig." If they win, they simply collect.

The establishment of the pointspread as the corner stone around which team sports like football can be wagered upon was truly what brought gridiron betting into the stratosphere.

Don't believe it? Just take a look at what happens around the Super Bowl.

Stay with us here as we take you through the best in NFL action on a consistent basis, with advice columns as well as handicapping selections. If you're looking for college football betting, that's in our NCAA section, which you can reach by clicking here. And if you're looking for a different kind of football, such as the Canadian Football League, which we'll deal with occasionally, or the Arena Football League, which we really like, you can find it in our Miscellaneous section by clicking

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