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Teddy Covers' Las Vegas Wiseguy Report: Bettors gear up for Final Four

03.30.2015     08:17 AM     Teddy Covers     Printer Friendly
Submitted by Teddy Covers

SportsMemo.com blog entry.
The dust has settled from the madness that is March, with only four teams still standing in the NCAA Tournament.  And frankly, since the insanity of that opening Thursday morning when top seeds were falling like flies (Baylor, Iowa State, SMU), this tournament has not seen a bevy of upsets. 

In fact, the Vegas favorite advanced in 48 of the last 54 Big Dance games (48-6 SU, not ATS) since midday on the opening day of the tourney.  For only the second time this century, three #1 seeds reached the Final Four.  In this week’s Wiseguy Report I’m going to try to answer the question that everybody is asking: can anybody beat Kentucky; winners of 38 consecutive ballgames since the start of the season.

Since Kentucky is the most hyped team in recent memory, I’ll start with the Wildcats first.  Yes, this team won the title in 2012, going 4-2 ATS in the process during the Big Dance.  Yes, they reached the championship game last year; an undervalued commodity in March as they covered all four pointspreads on the way to the Final Four.  

But this year’s Kentucky team has simply gotten too much Read more



Tags: College Basketball Kentucky Wildcats Wisconsin Badgers Duke Blue Devils Michigan State Spartans Teddy Covers Las Vegas




NCAA Tournament Gambling: Utah-Duke ending causes betting apocalypse

03.30.2015     07:29 AM     Printer Friendly
SportsMemo.com blog entry.
It took a couple of rounds but last weekend we finally got to witness the NCAA Tournament's Top Betting Shenanigan at the end of the Utah-Duke game. 


"It caused a million-dollar swing with parlay liability, to the bad," MGM vice president of race and sports Jay Rood told ESPN.






Tags: College Basketball Utah Utes Duke Blue Devils




First weekend in May promises to be huge for Las Vegas

03.30.2015     07:20 AM     Printer Friendly
SportsMemo.com blog entry.
If you're into sports betting and thinking about making a trip to Las Vegas the spring, the first weekend in May looks to be ideal. For starters you have both NBA and NHL playoffs in full swing. Then there's the Kentucky Derby. And to close out the evening one of the biggest fights in history with Mayweather vs. Pacquiao at the MGM Grand.


“Other than Super Bowl Sunday, the single day will be as big as we’ve written in years.  Look for May 2 to be approaching the Super Bowl handle on Super Bowl Sunday, and that’s saying a lot.”






Tags: Las Vegas




Nevada sportsbooks may soon offer group betting

03.26.2015     06:27 AM     Printer Friendly
SportsMemo.com blog entry.
Nevada is trying to pass a bill that would allow "groups", not just individuals, to place bets at state run sportsbooks.




Tags: Las Vegas




Gamblers may have to give back winnings from casino gaffe

03.23.2015     08:00 AM     Printer Friendly
SportsMemo.com blog entry.
Here's a blast from the past. Back in 2012 a bunch of gamblers took advantage of a card shuffling blunder at Atlantic City's Golden Nugget Casino. The group of 14 gamblers won $1.5 million but are NOW being asked to return their winnings.


"By ordering the patrons to return the monies that were paid out by (the Golden Nugget) nearly three years after the game ended sends incredible conditional messages to the public: A win isn't necessarily a win, and that casinos will go after winning players who are without fault" if the casino or one of its agents were to blame, the gamblers said in a court filing asking the judge to reverse her February ruling in favor of the casino.











Teddy Covers' Las Vegas Wiseguy Report: Sweet Sixteen Betting Preview

03.23.2015     07:48 AM     Teddy Covers     Printer Friendly
Submitted by Teddy Covers

SportsMemo.com blog entry.
The insanity that is March Madness just provided bettors and fans alike with one of the more memorable opening weekends of NCAA Tournament action.  Now that the dust has settled, it’s time to take a look at the 16 teams still standing in the Big Dance from a pointspread perspective.  Which squads offer some semblance of betting value moving forward and which do not?  Read on to find out.

Two conferences stood out above the rest this past weekend.  The ACC sent a whopping five teams to the Sweet 16 out of six Big Dance entrants while going 11-1 SU.  But bettors didn’t make a dime supporting those ACC teams, who combined to go 5-7 ATS.  Duke was the lone ACC squad to notch a pair of pointspread covers.  Notre Dame was one of two teams (Kentucky being the other) to go 2-0 SU but 0-2 ATS.

The PAC-12, on the other hand, produced both SU and ATS success for bettors this past weekend.  The four PAC-12 entrants combined to go 7-1 SU, sending three teams to the Sweet 16.  Even more impressively, the conference combined to go 7-1 ATS; the lone non-cover coming in Arizona’s 21 point opening round win as 23 point Read more



Tags: College Basketball Teddy Covers




Teddy Covers' Las Vegas Wiseguy Report: Top Ten NCAA Tournament Betting Tips

03.16.2015     10:37 AM     Teddy Covers     Printer Friendly
Submitted by Teddy Covers

SportsMemo.com blog entry.
Times have changed.  Betting strategies for March Madness are not a static entity.  Betting markets, like all other markets, evolve over time.  Concepts that worked ten years ago don’t necessarily work as well in 2015. 

I first wrote a Top 10 Tournament Betting Tips piece for Playboy Magazine back in 2002.  I’ve updated it a couple of times over the years, but it definitely needed a thorough rewriting for the modern era.  Even with the edits, there are no surprises here – veteran bettors know this stuff already, but it never hurts to think about these concepts again as the Big Dance begins. 

1.) Look to fade teams that looked great last weekend.
First of all, this is a value based enterprise.  The single best betting strategy for any sport is similar to the best stock picking strategy or the best real estate investment strategy – buy low, sell high.  And it’s hard to buy low with teams that looked great in their conference tournaments.

There’s no such thing as carrying over momentum from conference tournament weekend to the Big Read more



Tags: College Basketball Teddy Covers




Teddy Covers' Las Vegas Wiseguy Report: Who has what it takes to win the Big Dance Part II

03.09.2015     06:12 AM     Teddy Covers     Printer Friendly
Submitted by Teddy Covers

SportsMemo.com blog entry.
In Part I of this article last week, I took a basic look at the profile of the past 16 NCAA champions.  From that profile, I was able to make a short list of potential champs in 2015, consisting of the following 12 teams:  Virginia, Duke, Notre Dame, Louisville, Kansas, Baylor, Villanova, Wisconsin, Maryland, Arizona, Utah and Kentucky.

However, since that article was written last week, one of those 12 teams has been bounced from consideration, with Baylor suffering their eighth loss of the season at Texas in overtime.  I don’t think the Bears were serious contenders to win the title, but now that they are above the seven loss cut-off line, we can eliminate Scott Drew’s squad from the discussion entirely.

The next step in the elimination process is to look at the team’s records away from home.

The NCAA championship is not won on a team’s home floor.  Even with a favorable location one weekend, a team is still going to have to win Read more



Tags: College Basketball Teddy Covers Las Vegas




Bitcoin poker website gets pinched

03.06.2015     12:21 PM     Printer Friendly
SportsMemo.com blog entry.
Crazy story about police raiding the house of an employee of an alleged illegal poker website that used Bitcoin as its currency.


“I’m a victim of the unfortunate systemic police state that has taken over the United States,” Micon said in a recent Skype interview from Antigua, where his family had already planned an extended vacation. “I was charged with no crime, yet armed men broke down my door, pointed many guns at me — of course, traumatized my family — and then proceeded to steal all of my good electronics.”

“Using Bitcoin technology does not generally make any activity more or less legal than it would be otherwise,” he said. Bitcoin isn’t a “get-out-of-jail free card” or a “cloak of invisibility,” Gzesh said, noting that if a site is operating without a required license, it’s doing so illegally, “whether you’ve used Bitcoin or not.”









Tags: Poker




Pacquiao the early betting choice over Mayweather

03.04.2015     08:37 AM     Printer Friendly
SportsMemo.com blog entry.
After opening as a +250 underdog, Manny Pacquiao has taken most of the early money for the May 2 fight vs. Floyd Mayweather. Mayweather has settled in as a -200 favorite.


“I’ve never seen Mayweather this low eight weeks out before the fight,” said Jimmy Vaccaro, who has booked money on every big fight for the past four decades in Las Vegas. “This is as close as we get to a legitimate pick ‘em fight since Mayweather fought (Oscar) De La Hoya.”

“It’s a one-way attack on Pacquiao,” Vaccaro said. “We’re well into a six-figure loss right now if Pacquiao wins.”






Tags: Boxing Floyd Mayweather Manny Pacquiao



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