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Government threatens casinos that allow third party sports betting

01.20.2015     07:17 AM     Printer Friendly blog entry.
The U.S. Treasury Department is cracking down on third party betting at sportsbooks including "runners."

“In these cases, the intermediaries rarely voluntarily disclose to the casino that a transaction is being conducted on behalf of a third party, thereby disguising the third party’s role in the transaction and obscuring the source of funds used to place the bet. This poses distinct money laundering risks for casinos,” FinCEN said in the letter.

Tags: Las Vegas

Las Vegas sportsbooks report big volume on tonight's college football title game

01.12.2015     11:21 AM     Printer Friendly blog entry.
Las Vegas sportsbooks say tonight's college football championship has received a ton of betting volume.

"It's as big as any college football game that I can remember," Bogdanovich, a 28-year Vegas veteran, said of the handle.

"It'll be easily as big as one of these games we've got going on today," MGM vice president of race and sports Jay Rood said, referring to Sunday's NFL playoff games. "We'll be into the seven figures (on Ohio State-Oregon)." 

Tags: College Football Ohio State Buckeyes Oregon Ducks Las Vegas

Teddy Covers' Las Vegas Wiseguy Report: NFL Conference Championship matchups are set

01.12.2015     07:52 AM     Teddy Covers     Printer Friendly
Submitted by Teddy Covers blog entry.
The NFL has never embraced the Final Four moniker, but that’s exactly what we’ve got left in this NFL season.  Four teams.  Three remaining meaningful games (sorry, I’m not counting the pro bowl as meaningful, even if you choose to wager on it).  One champion, yet to be crowned.

And there’s one strong commonality among the four teams still standing after two weekends of NFL Playoff action.   Each of the four teams still standing is there because of their quarterback.  As the league has adjusted their rules year by year, making it more difficult to defend the passing game, the very best QB’s have taken advantage of those rule changes, making them nearly impossible to defend.

Bettors probably remember the Patriots gameplan when they travelled to Indy in Week 11; one of four games this year where the Pats were installed as underdogs by the betting markets.  Bill Belichick installed a radically different gameplan than most Pats fans (and their betting supporters) were used to.  New England played for extended stretches with six offensive linemen in power rushing formations, finishing the game with Read more

Tags: NFL Indianapolis Colts New England Patriots Seattle Seahawks Green Bay Packers Teddy Covers Las Vegas

Las Vegas sportsbooks want betting on the Olympics

01.09.2015     07:28 AM     Printer Friendly blog entry.
Las Vegas sportsbooks are pushing to make betting on the Olympics legal. For whatever reason, the Gaming Control Board wouldn't allow it whereas offshore sportsbooks like Pinnacle offer an endless array of both summer and winter Olympic betting options. The next Olympic games is scheduled for Rio de Janeiro in the summer of 2016.

“It’s a different world out there,” said South Point bookmaker Jimmy Vaccaro. “Anything that we add that draws any attention or brings anybody in is a huge plus … They won’t be knocking down the doors to make bets on this, but it’s just one more thing that we think we should be able to do.”

Tags: Las Vegas

Monster October for Las Vegas sportsbooks

12.02.2014     06:40 AM     Printer Friendly blog entry.
October was a big month for Las Vegas sportsbooks as they raked in nearly $27 million in profits.

"It was our biggest month in the last couple years in terms of the amount of bets," said Jason Simbal, vice president of race and sports for CG Technology. "The average bet amount is the same, but there's more people betting."

"Sports betting is still a fairly small blip in the radar, but that may not stay the case in the years to come," Rood said. "There might be some winds of change coming down the road, but I see the trend continuing."

Tags: NFL College Football Las Vegas

Teddy Covers' Las Vegas Wiseguy Report: AFC News and Notes

11.10.2014     08:43 AM     Printer Friendly blog entry.
The Cleveland Browns went into Thursday Night’s matchup at Cincinnati with a winning record, but without much respect from the betting markets.  Cleveland had spent the last month feasting on the weak, facing off against the likes of the Titans, Jaguars, Raiders and Bucs in their previous five games; arguably the four worst teams in the NFL.  The Browns didn’t blow out any of those squads; locked in tight, competitive games each time except their only loss during that span – a blowout defeat at Jacksonville.

Without pro bowl center Alex Mack in the lineup over their previous three games, the Browns offense became completely one-dimensional; a team that couldn’t run the football one iota.  Against Tampa’s shoddy rush D, it was 26 carries for 50 yards.  The week before, it was 25 rushes for 39 yards.  The week before that, it was 30 rushes for 69 yards.  That’s less than two yards per carry against weaklings.

So what did the Browns do in their step-up game on Thursday Night at Cincinnati?  Simple – they dominated on both sides of the football, start to finish, rushing for 170 yards and Read more

Tags: NFL Teddy Covers Las Vegas

NFL Gambling: Sportsbook offers prop bet on Oakland's potential winless season

11.08.2014     07:48 AM     Printer Friendly blog entry.
Las Vegas South Point Sportsbook posted a "yes" or "no" prop bet on whether or not the Oakland Raider would win or tie a regular season game. The "no" is a juicy +1000 whereas the "yes" is -1800. To no surprise 53 of the 54 bets taken were on the "no." Below is Oakland's remaining schedule; likely to be underdogs in eight games. Their best chance could be Week 17 if Denver is locked into a playoff spot and plays its fourth stringers.

vs. Denver
at San Diego
vs. Kansas City
at St. Louis
vs. San Francisco
at Kansas City
vs. Buffalo
at Denver

Tags: NFL Oakland Raiders Las Vegas

Feds illegally weasel their way into hotel room of illegal sports betting ring

10.30.2014     06:44 AM     Printer Friendly

Back in July, a handful of dudes were arrested at Las Vegas' Caesars Casino for running an illegal sportsbook out of their hotel room. Want to know how they got busted? The Feds shut down the internet, acted like repairman, and were able to access the room without a warrant. As a result, there's a chance that the evidence they gained will be thrown out in court.

"They were trying everything they could to get inside without a warrant," Goldstein told the AP.

"Police are allowed to use a certain kind of subterfuge, but what they can't do is create a certain kind of circumstance," Rasch said.

World Cup sports betting ring busted as Las Vegas casino

07.16.2014     07:47 AM     Read more

Tags: Las Vegas

Nevada sportsbooks post big September profits

10.28.2014     02:30 PM     Printer Friendly blog entry.
Reportedly their third greatest month ever with $37 million in profits.

"More and more people are tearing down the belief that betting on sports is a bad thing and realizing that the entertainment value is through the roof," Vaccaro, now with the sports book at the South Point casino, said. "We have 15 windows open from 9 o'clock to 10 o'clock in the morning on Sundays, and the lines are 25 deep. Guys who have been long-time customers are coming up to me and asking about signing up for the phone app, because they're afraid they're going to get shut out. I think that's a big, big reason why you're seeing more ticket transactions. And it's not going to slow down anytime soon."

Tags: College Football NFL Las Vegas

MGM wants to offer on-site sports betting tablets

10.13.2014     11:48 AM     Printer Friendly blog entry.
MGM Resorts are looking into offering interactive betting tablets for patrons of their sportsbooks. It needs to approved by the Nevada Gaming Commission but the target date is the start of the 2015 football season.

“As we thought about that and started trying to grab them by the hair and yank them into the casino, we thought we’d go where they’re at. And where they’re at is mobile phones and sports books, lounges, nightclubs,” Mikulich said. “We thought we’d put some of these devices in those areas to try and engage with them and see what they actually like to do.”

Tags: Las Vegas


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