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February

22

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Bettors gear up for Super Bowl 51 Prop Bets

01.24.2017     06:34 AM     Teddy Covers     Printer Friendly
Submitted by Teddy Covers

SportsMemo.com blog entry.
When I talk with casual fans in the week leading up to the Super Bowl, they tend to be interested in my opinion about who is going to win the big game. But when I’m talking with bettors, not fans, the topic inevitably turns towards props; where sports betting and fantasy sports collide.

Props have been on the Las Vegas betting boards for thirty years. It all began when the juggernaut 1985 Chicago Bears were facing the Patriots in Super Bowl 20. Legendary Vegas oddsmaker Jimmy Vaccaro was a very creative bookmaker at the Mirage (at the time), looking for ways to increase their betting handle. Vaccaro posted odds on whether 350 pound defensive lineman William ‘Refrigerator’ Perry would score a touchdown in the big game. Vaccaro certainly didn’t think it was likely, offering attractive underdog odds for those who wanted to bet on The Fridge would hit paydirt in the end zone.

Vaccaro’s unique offering attracted all kinds of attention both from bettors and from media types. It also accomplished his goal of increasing betting handle, with money pouring in on the ‘Yes, Fridge will score a TD’ side of the prop at big (but Read more



Tags: NFL Super Bowl LI Las Vegas Teddy Covers




Raiders take another step towards Las Vegas

01.20.2017     08:45 AM     Printer Friendly
SportsMemo.com blog entry.
So this Raiders to Las Vegas thing sounds like it's really going to happen.


"Today, the Oakland Raiders submitted an application to relocate their franchise to Las Vegas, as is provided for under the NFL policy and procedures for proposed franchise relocations," the NFL said. "The application will be reviewed in the coming weeks by league staff and the stadium and finance committees."






Tags: NFL Oakland Raiders Las Vegas




Sportsbooks love to talk about getting thrashed by the betting public

01.17.2017     09:22 AM     Printer Friendly
SportsMemo.com blog entry.
Sportsbooks are a business and a lot of their profit is generated from casual bettors; the "betting public." So when the postseason hits you tend to read a lot of articles about the "betting public" getting the best of the sportsbooks. Last week, outright wins by the Steelers and Packers reportedly proved costly. The week prior it was Clemson's win over Alabama that "crushed the books." What you generally don't read is articles about games in which 80% of the tickets are on one side but 80% of the money is on the other; the old square/sharp divide. That wouldn't be good marketing.




Tags: NFL Las Vegas




College Football Betting News: Clemson's win over Alabama crushed the books

01.11.2017     10:22 AM     Printer Friendly
SportsMemo.com blog entry.
Clemson's win over Alabama was not an ideal outcome for Las Vegas sportsbooks.

 

“It was definitely our worst college football game ever, and I’m pretty sure it was our biggest loss in a single game,” William Hill sports book director Nick Bogdanovich said.

“It’s the highest single-game handle I’ve ever seen, which proves that college is catching up,” veteran South Point oddsmaker Jimmy Vaccaro said. “It keeps telling me I’ve been wrong for 20 years saying that we can’t get much better and we can’t write more tickets. The public keeps telling me, ‘Jimmy, go sit down. You’re wrong.’

“The intriguing thing to me was we wrote more on that game than we did on the first NFL game of the weekend.”






Tags: College Football Clemson Tigers ACC Alabama Crimson Tide SEC Las Vegas




NFL Betting News: Lack of upsets continues to hurt sportsbooks

11.28.2016     08:35 AM     Printer Friendly
SportsMemo.com blog entry.
It's been a tough two weeks for Las Vegas sportsbooks in the NFL. From an ATS perspective, favorites are 16-11-1. But straight up, 24-4 which means moneyline parlays and various teasers where cashing like crazy. 


“We’re not getting a lot of upsets right now. The teasers and money-line parlays seem to continue to beat us. You need a couple of upsets every week. Luckily, the Buccaneers came through and upset somebody.”






Tags: NFL Las Vegas




Las Vegas sportsbooks look to get in on the Olympic betting action

08.03.2016     09:12 AM     Printer Friendly
SportsMemo.com blog entry.
For the first time since 2000, Las Vegas sportsbooks will be offering betting lines on various Olympic events.


“Any event that receives a lot of attention from the media, there’s a good chance that we could post it,” he says. “Whether it’s popular because of controversy or a great story and or an American competing for a gold medal.”

“We expect it to be very minimal,” he says. Also, he doesn’t expect to take any bets on rowing. In fact, despite the diversity of sport in the Olympics, Kornegay is certain that basketball, one of the boring old big four, will draw the majority of betting action this summer. “It won’t even be close,” he says.






Tags: Las Vegas




CG Technology CEO resigns

07.21.2016     08:04 AM     Printer Friendly
SportsMemo.com blog entry.
Things aren't looking all that great for Las Vegas sportsbook CG Technology these days. It was recently fined by the Nevada Gaming Control Board for failing to correctly pay out winning wagers. Now news has come out that CEO Lee Amaitis will resign at the end of August. As of now, CG's sportsbooks (Cosmopolitan, Venetian, Palms and M Resort) will continue to operate though will be heavily monitored by a third party.


"The Board will not tolerate improper or incorrect payments to patrons by gaming licensees, and therefore takes this matter extremely seriously," Nevada Gaming Control Board Chairman A.G. Burnett told the Las Vegas Sun, which first reported the settlement. "This settlement contains several harsh punishments and requirements for remediation that reflect those concerns."






Tags: Las Vegas




Football Handicapping: Las Vegas offers an endless array of contests

07.19.2016     08:04 AM     Printer Friendly
SportsMemo.com blog entry.
While the Westgate's famed SuperContest takes top billing, Las Vegas sportsbooks are offering a multitude of football contests for the upcoming season.




Tags: College Football NFL Las Vegas




SuperContest no longer 100 percent payback

06.27.2016     09:05 AM     Printer Friendly
SportsMemo.com blog entry.
Due to growth, the world famous NFL SuperContest will no longer offer a 100 percent payback. Instead, the Westgate will take 8 percent to cover the cost of running the contest.


“I know it’s not something that’s looked upon in a positive way, but we just can’t have a loss leader,” Kornegay said. “We’re not looking to make it profitable, but we’re trying to cover our expenses. We thought this number is fair.”

“We reviewed the contest over the offseason, and the numbers were not really flattering,” Kornegay said. “When we had 400 contestants, it wasn’t that big of a deal. But as it escalated in growth the past four or five years, the costs have really grown.”






Tags: NFL Las Vegas




MLB newest league to consider Las Vegas for expansion

06.22.2016     08:42 AM     Printer Friendly
SportsMemo.com blog entry.
What is with everyone wanting to set up shop with a professional sports team in Las Vegas? The NHL is giving it a go, the Oakland Raiders are efforting, and now MLB is saying it "would not disqualify" Sin City -- whatever that means.


“I think the whole, ‘You can’t go to Vegas because there are casinos there,’ we passed that by a long time ago. There’s casinos all over the place. I see Las Vegas as a viable alternative. I would not disqualify it just because of the gambling issue.”






Tags: MLB NHL NFL Las Vegas



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Copyright © 2007 SPORTSMEMO, INC, 1-800-575-3069. Sportsmemo.com is the nation’s premier resource for sports betting and handicapping information. Get free football picks, free NFL picks, free college football picks, free baseball picks, free NBA picks, free college basketball picks, free hockey picks, free golf picks, and free soccer picks from the nation’s top handicappers. Sportsmemo's sports betting insight and analysis comes from some of the most respected sports handicappers in the sports gambling industry including Ted Sevransky (Teddy Covers), Brent Crow of Alatex Sports, Rob Veno, Erin Rynning, Otto Sports, Andrew Lange, Ian Cameron, Drew Martin, and Alex B. Smith. Listen to these handicapping experts daily on the Sportsmemo Podcast Monday-Friday at Sportsmemo.com.  Missed the Sportsmemo Podcast?  Past shows are available on Sportsmemo.com's podcast archive page. Looking for daily sports betting tips and sports betting advice on the MLB, NBA, NCAA, NFL, NHL, CFL, and PGA? Check out the interactive sports betting posting forum, power ratings, expert handicapping blogs, and original sports betting articles from the Sportsmemo team that specializes in sports information from a pointspread perspective at Sportsmemo.com.   Feb 22, 2017 01:59 PM.