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Teddy Covers' Las Vegas Wiseguy Report: American League Preview

04.06.2015     08:01 AM     Teddy Covers     Printer Friendly
Submitted by Teddy Covers blog entry.
The college basketball season is in the rear view mirror now.  The NBA Playoffs don’t start until next weekend.   That can only mean one thing – baseball is here!  In this week’s Wiseguy Report, I’ll be breaking down the American League, team by team in overview fashion.  I’ll do the same thing next week for the National League.  The goal?  Identify potential market inefficiencies right from the get-go; looking for overvalued and undervalued commodities.  Teams are listed in alphabetical order, by division.

The Baltimore Orioles were, by far, the single most profitable team to support in MLB last year, yet the betting markets aren’t particularly enamored with Buck Showalter’s squad heading into 2015.  The Orioles had the 2nd biggest gap between their FIP (fielding independent pitching) and their ERA last year, a strong indicator for future regression.   And the best home run hitting team in baseball lost big bats Nelson Cruz and Nick Markakis in the offseason.  That being said, the Orioles have been consistently undervalued in recent seasons and they Read more

Tags: MLB Teddy Covers

Money on Pacquiao has Mayweather now less than a -200 favorite

04.03.2015     08:11 AM     Printer Friendly blog entry.
The betting handle for next month's Mayweather vs. Pacquiao continues to climb according to various Las Vegas oddsmakers. The price on Mayweather though continues to drop with less than -200 widely in Vegas and offshore.

"Public on the dog," said Art Manteris, sportsbook director of Station Casinos and a boxing expert. "Some of the best sports handicappers and guys I respect the most are on the favorite. I'm just not sure I agree with them this time."

Tags: Boxing Floyd Mayweather Manny Pacquiao Las Vegas

Reid set to retire but still fighting for online gambling ban

04.03.2015     08:04 AM     Printer Friendly blog entry.
First, the good news. Nevada Sen. Harry Reid recently announced that he will retire at the end of his current term. Now the bad news. Said term runs to January 2017 and in the meantime, Reid appears hellbent on making sure online gambling doesn’t “poison” America.

“Well, we will see what the legislation does — we will see what the House does,” Reid said when asked if he supported Adelson’s push for a complete ban. “But I think, for the state of Nevada, online gaming is not the direction we should go.”

Tags: Las Vegas

MLB Gambling: Of course the Cubs are taking money to win the World Series

04.01.2015     08:37 AM     Printer Friendly blog entry.
Every Tom, Dick, and Harry is reportedly betting the Cubs to win the World Series. Good for them.

"Every year, they bet the Cubs," Jeff Stoneback, assistant manager at MGM race and sports. "I could be their ace and you could be their No. 2 starter, and they'd still bet them."

Tags: MLB Chicago Cubs

NCAA Tournament Gambling: Bettor stands to win $1 million on Sparty

03.31.2015     07:53 AM     Printer Friendly blog entry.
This is pretty impressive. Not that someone made the bet but that a Las Vegas sportsbook actually took the action.

"In my nine years at this sportsbook, I never accepted a bet that could result in us paying $1 million," Miller said. "The most I've ever seen won here was a $100,000 parlay."

Tags: College Basketball Michigan State Spartans Las Vegas

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 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 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 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 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 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.


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