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May

16

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Local bookies don't appear worried about regulated sportsbooks

05.16.2018     09:20 AM     Printer Friendly
SportsMemo.com blog entry.
But about the local bookie? Most are saying fear not, especially if regulated sportsbooks fail to offer what bettors can get offshore or offscreen with a local bookmakers.

 

“It’s absolutely ludicrous. Bookies in Philly are probably laughing,” said Brett Smiley, a Penn grad who’s cofounder of SportsHandle, a news site covering the business of sports betting. “I would be shocked if there aren’t conversations happening right now between casino operators and the state to lower that tax.”

“It’s going to be more a thing with the kids who bet $20 a game, that stuff,” Jerry said.



 









Paddy Power-Betfair seeks purchase of FanDuel

05.16.2018     09:14 AM     Printer Friendly
SportsMemo.com blog entry.
Let the race begin! Corporations are already starting to jockey for position following the Supreme Court’s decision to allow legalized sports betting. Sportsbook giant Paddy Power Betfair is reportedly eyeing the purchase of FanDuel.


 “This decision allows us to bring the passion and engagement we have seen among our users to new and expanded marketplaces and create a sports betting product that fans will love,” the company said.



 









Regulations will be key in determining popularity and growth of sports betting

05.16.2018     09:09 AM     Printer Friendly
SportsMemo.com blog entry.
There are a slew of different numbers being tossed around with regards to exactly how much profits legalized sports betting will yield. One analyst gave a range of $62 million to $2.9 billion. The key though will be the regulations -- everyone wants to get paid but will there be enough to go around?


 "A set of regulations and taxes need to be put into place, and we don't know what those are," Katz said in an interview. "We have seen situations in gaming where regulatory bodies are set up and tax rates are set up that's a structure so onerous that it doesn't benefit the operators to pursue it. The returns aren't good enough. It winds up being a much smaller business than anyone expected."



 

 

 









Las Vegas sportsbooks offer blueprint on how to be successful

05.16.2018     08:58 AM     Printer Friendly
SportsMemo.com 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



May

15




Sports Betting Update: New Jersey's Monmouth Park ready to start taking bets

05.15.2018     10:06 AM     Printer Friendly
UPDATE

New Jersey's Monmouth Park is reportedly expected to start taking sports wagers within two weeks. Sportsbook giant William Hill will serve as operator. 


"It's my intention, unless somebody stops us, to be up and running in two weeks," Monmouth Park operator Dennis Drazin said during a news conference at the Oceanport track. "If the Legislature or the governor says 'slow down,' I'm gonna listen to them."







Supreme Court will reportedly decide on New Jersey sports betting case this week

04.23.2018     10:08 AM     Read more



Tags: New Jersey




MLB Handicapper Free Betting Pick: Cleveland Indians at Detroit Tigers

05.15.2018     10:00 AM     Otto Sports     Printer Friendly
Submitted by Otto Sports

SportsMemo.com blog entry.
Cleveland (Tomlin) at Detroit (Liriano) +125 O/U 9.5
Recommendation: Detroit

A month and a half into the season and only two games separate the Cleveland Indians (20-20) and Detroit Tigers (18-22) in the standings. The separation between the two squads will undoubtedly grow as the season progresses but even when we account for projection and overall gap in talent, I have a hard time buying into Josh Tomlin as a -135 road favorite. Tomlin, who sports an 8.06 ERA and even worse 9.69 FIP, hasn't pitched in 10 days. Perhaps his only redeeming quality is that he tossed five scoreless innings against Detroit back on April 10; a game that featured a very pitcher friendly 38 degrees. Yes, the Tigers are without Miguel Cabrera. But without Cabrera, the Tigers have still managed to produced offensively. In 10 games since he hit the DL, Detroit is 5-5 an has averaged 4.4 runs per game. And unlike Tomlin, Francisco Liriano has been rock solid with three runs or less allowed in all seven starts. He's ripe for a little regression (.226 BABIP) but is far more trustworthy than his counterpart for this evening. This matchup should be line at or Read more



Tags: MLB Cleveland Indians Detroit Tigers OTTO Sports




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."



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Tags: NBA Las Vegas Golden State Warriors Houston Rockets




May

17


May

14


 
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