It's bet, bet, bet, on the home team

One of the more interesting and complicating problems of gambling on professional and college sports arises when one encounters a game involving his or her home team.

Placing a sensible and intelligent bet certainly requires an open an unbiased opinion of the two teams involved.

But, how are we expected to have an open mind about a team that we, in some cases, know better than our families? Or a team we have lived and died with for our entire lives?

Some steer clear from these games all together, surrendering to their inability to not let it ride on the Celtics +9 at Madison Square Garden with Paul Pierce returning from a three day stomach bug.

This seems sensible, but how can a true gambler bow out so quietly?

Others take a "safe" route and try to place themselves in a "win-win" situation.

For instance, let's take a look at a game that happened two weeks ago -- New England +2 at Miami. Say I had bet $100 on the Dolphins. Here's the thinking.

If the Dolphins win, I'm upset, but $100 is a nice consolation prize. If the Patriots win, then I've lost a hundred in worse ways, plus maybe now the Pats will make the playoffs.

The actual result? the Dolphins' Olindo Mare kicked a field goal with no time remaining. Final score: Miami 17, New England 16.

"Win-win" turned into "lose-lose" at the drop of a hat, not to mention the fact that anyone ever willing to put money down against their home team should be tarred and feathered.

So what is one to do?

The consummate sports fan needs to pick his spots wisely when betting on a home team. The perfect opportunity needs to present itself, and when it does, it's time to take action.

For this New England fan it was Super Bowl XXXVI. Rams -17? That's 5.5 to 1 even money? Making the trip down New Orleans? A $100 debt will certainly not make another Super Bowl embarrassment any worse.

And, while a Benjamin (slang for a $100 bill) could not possibly make a Super Bowl victory any sweeter, it certainly helps while you're celebrating the biggest upset in Super Bowl history on Bourbon Street.