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Atlantic City's Borgata ready to accept sports bets

05.23.2018     09:41 AM     Printer Friendly blog entry.
Atlantic City's Borgata Casino (owned by MGM) has a sportsbook in place and is ready to accept wagers once the green light is given. There are already talks of a new $7 million sportsbook eventually being built as well. An issue that has popped up however is that MGM owns the WNBA's Las Vegas Aces which to outsiders looks like a conflict of interest. It's one of many instances in which a casino/sportsbook has financial ties to a professional sports team.

“As soon as regulatory approvals are in place, we will begin taking sports wagers,” Borgata President Marcus Glover said to the Associated Press. “Borgata is uniquely prepared to begin operations as the only Atlantic City casino with an existing racebook.”

Las Vegas sportsbooks brace for Golden Knights Stanley Cup title

05.21.2018     09:19 AM     Printer Friendly
The Vegas Golden Knights are officially in the Stanley Cup Finals. They await the winner of the Washington-Tampa Bay series with the Capitals currently up 3-2 and -130 home chalk for tonight's Game 6. Game 1 of the Stanley Cup Finals is slated for Saturday. According to the Westgate SuperBook, should Washington win, the Golden Knights would be around -140 series favorites. If the Lightning win, they would be -150 series favorites. The real story is the damage the could be inflicted on Las Vegas sportsbooks should the Golden Knights with the Stanley Cup.

Tags: NHL Las Vegas Golden Knights Las Vegas

NBA Playoff Betting News: Betting markets expect Cleveland Cavaliers to come out strong for Game 3

05.17.2018     08:17 AM     Printer Friendly blog entry.
Well, this is interesting. Down 2-0, the Cleveland Cavaliers opened as -5.5 home favorites for Saturday's Game 3. After taking early money, they are now -6.5 both offshore and in Las Vegas. But what's interesting is the first half line. The Cavs are laying -6.5 for the game and as high as -6 (CRIS) for the first half. To compare, Golden State is -7 for the game and -4 in the first half for Sunday's Game 3. 

Tags: NBA Cleveland Cavaliers Boston Celtics

Las Vegas sportsbooks offer blueprint on how to be successful

05.16.2018     08:58 AM     Printer Friendly blog entry.
For states looking to open sportsbooks, the logical blueprint is that of Las Vegas. William Hill is already positioned to operate at Monmouth Park. MGM and Caesars have casinos all across the country. Westgate SuperBook manager Jay Kornegay points out that sportsbooks have a very small margin, meaning in order to turn a profit, they need to be run correctly.

“Most of those that are operating in Las Vegas today are operating in other markets around the country,’’ he said. “I can assure you that those companies are excited about the possibility of bringing their expertise into these other markets as they consider sports betting."

“A Las Vegas sports book works on a very slim margin and its the lowest hold percentage of any casino game offered,’’ he said. “Not to mention it’s very expensive to operate.

“The potential operators out there really need to understand not only how a book operates, but also the financials of a book before they put

Read more

Tags: Las Vegas

Las Vegas' Golden Nugget not taking any action on the Warriors-Rocket series

05.15.2018     09:14 AM     Printer Friendly
Billionaire Tilman Fertitta owns the Houston Rockets and also Golden Nugget Casino. Owning stake in a casino and professional sports franchise can be considered an obvious conflict of interest. As a result, the Golden Nugget has decided to pay out any Western Conference futures wagers on the Golden State Warriors. Bettors are also unable to wager on any individual games.

"We've already graded [the Warriors] a winner," Golden Nugget sportsbook manager Aaron Kessler said. "Bring your ticket and you'll get paid."



Tags: NBA Las Vegas Golden State Warriors Houston Rockets

Supreme Court votes in favor of legalized sports betting

05.14.2018     09:11 AM     Printer Friendly blog entry.
By now you've heard the news: The Supreme Court voted to allow states to offer legalized and regulated sports betting. Props need to be given to the state of New Jersey for sticking with it after years of fending off politicians and various sports leagues. The next step is to sit back and see exactly what regulated sports betting will look like. We've discussed at length that if it is going to stick long term, the product needs to mirror what is available offshore, offscreen, and in Las Vegas. Even your recreational weekend bettor will sniff our poor odds and a limited menu. That won't stop people from playing but if the states want to make this a financially viable entity, they can't be dealing -120 juice or posting games an hour before kickoff. Any offshore or local bookmaker will tell you the best business model is to offer as many betting options as possible, keep a few sharp players around just to balance out the square action, and when CRIS posts openers, copy them a few hours later and let your clientele have at it. Read more

NHL Gambling News: Tampa Bay and Winnipeg betting favorites to advance to Stanley Cup

05.11.2018     09:08 AM     Printer Friendly blog entry.
The NHL Stanley Cup Playoffs continue tonight with Game 1 of the Eastern Conference Finals followed by Saturday's Western Conference Game 1. The Tampa Bay Lightning find themselves in the -180 to -190 moneyline range for Game 1 and the series vs. the Washington Capitals. The Winnipeg Jets are priced as -145 Game 1 and series favorites over the Vegas Golden Knights. One report has Las Vegas sportsbooks on the hook for as much as $10 million should Vegas win the Stanley Cup.

Regular Season Results
2/1: Vegas (+105) 3 at Winnipeg 2 (OT), UNDER 6
12/1: Winnipeg (-195) 7 vs. Vegas 4, OVER 6
11/10: Vegas (+115) 5 vs. Winnipeg 2, OVER 6

2/20: Tampa Bay (-130) 4 at Washington 2, PUSH 6
11/24: Washington (+130) 3 vs. Tampa Bay 1, UNDER 6
10/9: Tampa Bay (-120) 4 vs. Washington 3 (OT), OVER 5.5

Tags: NHL

NBA Playoff Betting News: Cleveland Cavaliers priced as series and Game 1 chalk

05.10.2018     10:30 AM     Printer Friendly blog entry.
The Eastern Conference Finals are set with the Boston Celtics (8-4 SU, 9-3 ATS, 8-4 O/U postseason) taking on the Cleveland Cavaliers (8-3 SU, 4-7 ATS, 5-6 O/U). It's a rematch of last year's finals with Cleveland winning 4-1. The Cavaliers opened series -255 series chalk and were bet up to as high as -280 offshore. A handful of Las Vegas sportsbooks are showing -300. The Celtics opened -1.5 home favorites for Game 1 but like the series, the Cavs have taken money. Cleveland is currently -1 road favorites both offshore and in Las Vegas. Game 1's total opened 203 and was bet up to 205 before settling back at 203/203.5.

Tags: NBA Cleveland Cavaliers Boston Celtics

NBA Playoff Betting News: Houston Game 1 chalk, Golden State series favorite

05.09.2018     11:17 AM     Printer Friendly blog entry.
Unique situation for the upcoming NBA Western Conference Finals. The top seed Houston Rockets have taken money for Monday's Game 1; bet up from an opener of -1.5 to -2. But the Golden State Warriors have seen most of the action from a series price perspective. The Warriors opened as -180 series favorites and were bet up to -190. They opened -170 as Las Vegas' Westgate SuperBook but after a few bets were bumped up to -200.

Regular Season Meetings
1/20: Houston (+2.5) 118 vs. Golden State 108, UNDER 237.5
1/4: Golden State (-4) 124 at Houston 114, OVER 231
10/17: Houston (+9.5) 122 at Golden State 121, OVER 230.5

Tags: NBA Houston Rockets Golden State Warriors Las Vegas

Las Vegas sportsbook tries to weasel out of paying out prop bet

05.04.2018     08:52 AM     Printer Friendly blog entry.
This one is both confusing and alarming. Las Vegas' William Hill offered a prop bet on where different quarterbacks would be drafted. One featured a spread between Baker Mayfield and Lamar Jackson. It was 7.5 spots meaning Mayfield, who went first overall, easily won over Jackson who went 32nd. Yet a for reasons that are never really explained, William Hill initially didn't pay out on the winning tickets and tried to offer a refund. To us, it sounds like a case of a sportsbook hanging a bad line and bettors pouncing on it. Why it went so far that ESPN reported on it and the Gaming Control Board got involved looks pretty poorly on William Hill who has already built a reputation of not being sharp bettor friendly.

"Of course, in any case, any problem regarding the grading of a ticket not resolved to the satisfaction of both of the bettor and sports book operator, is handled as a dispute case. Bettors should always bring grading concerns to the attention of the sports book operator first. If the book is not able to resolve the issue, then the licensee is obligated to let the patron know they can contact the (gaming control) Board to investigate the matter. If there is a disputed amount and it is $500 or more, the licensee must notify the Board."

Tags: NFL Las Vegas


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