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Teddy Covers' Las Vegas Wiseguy Report: Sports betting becoming part of mainstream

02.09.2015     08:35 AM     Teddy Covers     Printer Friendly
Submitted by Teddy Covers

SportsMemo.com blog entry.
Something remarkable is happening in the world of sports betting right now; a strong push towards nationwide acceptance and legalization of our favorite pastime.  I moved to Las Vegas in 1998 and I’ve never seen anywhere close to the level of positive momentum that sports betting is enjoying here in February, 2015.  What has changed and why is it changing when it comes to broader attitudes about sports betting?  Read on to find out.

Over the course of the last few months, there has literally been a paradigm shift is how sports betting is viewed nationally.  I did a TV interview for PBS Newshour before the Super Bowl; an interview that was excerpted in a nine minute piece on the national nightly news about sports betting here in Vegas and across the country from a fairly conservative news organization.  If that’s not an indicator that sports betting has moved to the mainstream, I don’t know what is!

New NBA Commissioner Adam Sliver spent many of his formative years as a league administrator overseas as the league’s deputy commissioner.  His quote from David Purdum’s excellent article in ESPN The Magazine Read more



Tags: Teddy Covers Las Vegas




Judge wants to throw out evidence in sports betting case

02.05.2015     12:56 PM     Printer Friendly
SportsMemo.com blog entry.
Looks like the Feds muffed this one. Evidence used in the case against a Malaysian gambler Paul Phua and his alleged illegal sports betting operation at Las Vegas’ Caesars Casino may be thrown out according to a federal judge.


“The investigators’ suspicions that Phua was engaged in illegal sports betting at Caesars Palace may be borne out by the evidence recovered in the execution of the warrant. However, a search warrant is never validated by what its execution recovers,” wrote U.S. Magistrate Judge Peggy Leen in a report dated Jan. 30.











Las Vegas' Mirage was only sportsbook to take action on Tyson-Douglas fight

02.05.2015     08:14 AM     Printer Friendly
SportsMemo.com blog entry.
Famed Las Vegas bookmaker Jimmy Vaccaro recalls being the only one willing to hang a line on the Douglas/Tyson fight. Despite the historic upset, the Mirage managed to be in a "no lose" situation regardless of the outcome.


"I opened the Buster Douglas/Tyson fight at 27-to-1 and people jumped on Tyson. The first bet I took was for $81,000 to win $3,000. I moved it to 32-to-1 and the next guy bet something like $93,000 to win $3,000. And since we were the only place offering odds, everybody had to come to The Mirage if they wanted to bet. … So, eventually it got up to 42-to-1 and by adjusting numbers to get two-way action, we were in a spot where if Tyson lost we could win $104,000 and if Tyson won we would gain $3,000."






Tags: Las Vegas




Las Vegas sportsbooks make small $3.2 million profit on Super Bowl XLIX

02.03.2015     06:00 AM     Printer Friendly
It was a profitable Super Bowl for Las Vegas sportsbooks but a far cry from last year's 16.5% hold. The Patriots/Over outcome wasn't ideal but combined with prop bets, Vegas sportsbooks pulled in over $3.2 million (2.8%). The $115 million wagered was second all-time to last year's $119 million.

Las Vegas Sportsbook Super Bowl Profits 1995-2015
Year
Matchup
Wagered
Net Profit
Win%
2015
New England 28, Seattle 24
$115,986,086
$3,261,006
2.80%
2014
Seattle 43, Denver 8
$119,400,822
$19,673,960
16.50%
2013
Baltimore 34, San Francisco 31
$98,936,798
$7,206,460
7.30%
2012
NY Giants 21, New England 17
$93,899,840
$5,064,470
5.40%
2011
Green Bay 31, Pittsburgh 25
$87,491,098
$724,176
0.83%
2010
New Orleans 31, Indianapolis 17
$82,726,367
$6,857,101
8.30%
2009
Pittsburgh 27, Arizona 23
$81,514,748
$6,678,044
8.20%
2008
NY Giants 17, New England 14
$92,055,833
($2,573,103)
-2.80%
2007
Indianapolis 29, Chicago 17
$93,067,358
$12,930,175
13.90%
2006
Pittsburgh 21, Seattle 10
$94,534,372
$8,828,431
9.30%
2005
New Engand 24, Philadelphia 21
$90,759,236
$15,430,138
17.00%
2004
New England 32, Carolina 29
$81,242,191
$12,440,698
15.30%
2003
Tampa Bay 48, Oakland 21
$71,693,032
$5,264,963
7.30%
2002
New England 20, St. Louis 17
$71,513,304
$2,331,607
3.30%
2001
Baltimore 34, NY Giants 7
$67,661,425
$11,002,636
16.30%
2000
St. Louis 23, Tennessee 16
$71,046,751
$4,237,978
6.00%
1999
Denver 34, Atlanta 19
$75,986,520
$2,906,601
3.80%
1998
Denver 31, Green Bay 24
$77,253,246
$472,033
0.60%
1997
Green Bay 35, New England 21
$70,853,211
$2,265,701
3.20%
1996
Dallas 27, Pittsburgh 17
$70,907,801
$7,126,145
10.10%
1995
San Francisco 49, San Diego 26
$69,591,818
($396,674)
-0.60%
 
 
$1,778,121,857
$131,732,546
7.40%





Tags: NFL Super Bowl XLIX Las Vegas




Teddy Covers' Las Vegas Wiseguy Report: Looking for NBA teams to bet on

02.02.2015     08:22 AM     Teddy Covers     Printer Friendly
Submitted by Teddy Covers

SportsMemo.com blog entry.
The Super Bowl is in the rear view mirror, and MLB season is still two months away.  That means we’re In the heart of basketball season right now.  In this week’s Wiseguy Report I’ll take a look at a handful of NBA teams that offer legitimate bet-on potential as we approach the All-Star break.

The Cleveland Cavaliers spent the first half of the campaign disappointing their backers every bit as much as their fans.  In fact, the Cavs ranked among the very worst NBA teams against the spread, with a dismal 13-26 ATS mark in their first 39 games.  LeBron James was ailing, Kevin Love looked lost, key low post presence Anderson Varejao went out for the season with an Achilles tear and first year head coach David Blatt was under constant scrutiny, on the hotseat less than half the way through his first campaign.

The return to health of LeBron and a couple of trades have turned things around completely in Cleveland.  The Cavs have gone 10-0 SU, 9-0-1 ATS in their last ten ballgames; orchestrating a complete turnaround on the defensive end of the floor with former Nuggets center Timofey Mozgov anchoring the low Read more



Tags: NBA Cleveland Cavaliers Memphis Grizzlies Minnesota Timberwolves Teddy Covers




Super Bowl XLIX Gambling: New England and Over not a good outcome for Vegas sportsbooks

02.02.2015     07:43 AM     Printer Friendly
SportsMemo.com blog entry.
Early indications suggest that New England's win over Seattle was not an ideal result for Las Vegas' sportsbooks.


“I don’t know what everyone else thought but I was sitting with 11 guys and 11 guys didn’t say a word,” Bogdanovich described the scene in William Hill’s war room. “We just sat there with our jaws dropped. It’s just dumb that they wouldn’t run Marshawn Lynch.”

“That was our one losing scenario,” said Nick Bogdanovich, William Hill sports books’ director of trading. “We had a big start with the futures, so it’s going to be close but the game couldn’t have been worse.”






Tags: NFL Super Bowl XLIX New England Patriots Seattle Seahawks




Super Bowl XLIX Gambling: Late money comes in on Seattle Seahawks

02.01.2015     09:02 AM     Printer Friendly
SportsMemo.com blog entry.
Here are the top consensus bets (side, total, and moneyline) for Super Bowl XLIX courtesy of Bookmaker. After spending much of the last two weeks as a 1-point favorite, the New England Patriots find themselves as the underdog at a number of offshore sportsbooks. There's been strong push towards the Seattle Seahawks over the last 24 hours. In Las Vegas, nearly every shop has the game as a pick 'em. The total sits 47/47.5 offshore while a few 48's remain in Vegas (Wynn, Mirage, and Coasts). Note that the percentages are based on the number of bets made not total handle.

SIDE
66.5% - New England +1

TOTAL
57.6% - Over 47

MONEYLINE
72.5% - New England +100




Tags: NFL New England Patriots Seatte Seahawks Super Bowl XLIX




Nevada sportsbooks crushed in 2014

01.30.2015     01:56 PM     Printer Friendly
SportsMemo.com blog entry.
Nevada sports books enjoyed their biggest year ever thanks to an all-time high of betting volumue.


"[Sports] betting volumes have set records in five consecutive years and win totals have set records in two consecutive years." Lawton said. "This year without a doubt, sports betting was the growth story."






Tags: Las Vegas




Nevada's Black Book adds another name

01.30.2015     07:24 AM     Printer Friendly
SportsMemo.com blog entry.
The Nevada Gaming Commission recently added another name to its famed Black Book running the total up to 33. According to the rules, the only way to have one's name removed from said book is death. 




Tags: Las Vegas




Super Bowl XLIX Gambling: Betting public loads up on safety prop

01.29.2015     08:03 AM     Printer Friendly
SportsMemo.com blog entry.
Two of the most popular Super Bowl prop bets from the betting public have been "yes" on will there be a safety or overtime. Amazingly, the last three Super Bowls have featured a safety -- each time a big kick in the nuts to sportsbooks. According to Las Vegas' MGM, 70 of the first 71 bets on the safety prop were on "yes."


"This is a sign that people will bet anything," Jay Kornegay, vice president of race and sports operations at the SuperBook, said with a laugh. "We've got one ticket on Seattle scoring exactly four points at 9,999-to-1."






Tags: NFL Super Bowl XLIX



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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.   Aug 28, 2016 01:44 PM.