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Nevada approves Olympic betting

02.27.2015     08:20 AM     Printer Friendly
SportsMemo.com blog entry.
Nice to see Las Vegas expand its game with Olympic betting getting the approval of the Nevada Gaming Commission. We don't imagine the market will be all that big, nor will the lines compare to that of Pinnacle or other offshore giants. But it'll be a refreshing option for bettors looking for action prior to the football season. The 2016 Summer Olympics in Rio de Janeiro will run nearly the entire month of August.


“I think we’re going to do something very remarkable and add a new dimension to sports betting,” said commission Chairman Tony Alamo at the outset of today’s hearing. He said it will probably bring in a small amount of revenue, but nonetheless called it a “big deal” that “globalizes the legitimacy of what we do.”






Tags: Las Vegas




Teddy Covers' Las Vegas Wiseguy Report: Betting against the Washington Wizards

02.23.2015     11:45 AM     Teddy Covers     Printer Friendly
Submitted by Teddy Covers

SportsMemo.com blog entry.
Last week in this space, I highlighted a pair of NBA teams that had all the makings of being strong bet-on squads over the final two months of the regular season.  Those two teams – the Indiana Pacers and the Oklahoma City Thunder – combined to go 5-0 SU and 5-0 ATS in their first five games coming out of the All Star break.  I don’t think either one of those squads has even approached their peak yet, still offering tremendous bet-on potential moving forward.  In particular, OKC even without Durant in the lineup is capable of very big things, both SU and ATS.

This week I’m going to look at a single team on the other end of the spectrum – a dead nuts bet-against squad over the final two months of the campaign.  With sincere apologies to the Denver Nuggets, my #1 fade team in the NBA right now is the Washington Wizards.  While Denver is a lottery team that is being priced like a lottery team, Washington is still being priced as a strong playoff contender in the Read more



Tags: NBA Washington Wizards Teddy Covers Las Vegas




Teddy Covers' Las Vegas Wiseguy Report: NBA post All-Star bet-on teams

02.16.2015     10:28 AM     Teddy Covers     Printer Friendly
Submitted by Teddy Covers

SportsMemo.com blog entry.
The All-Star game has come and gone, leaving us headed for the homestretch of the NBA campaign; the final eight weeks of action between the All Star Break and the start of the playoffs.  In this week’s Wiseguy Report, I’ll be taking a hard look at two veteran teams – one from the East and one from the West – that have all the makings of being strong bet-on squads over the final two months of the regular season.

My #1 post All-Star break bet-on team from the East is the Indiana Pacers.  At 21-33 SU, Indiana can only be described as a disappointment thusfar;  a major drop for a team that earned the #1 seed in the Eastern Conference playoffs last spring while making their second consecutive trip to the Eastern Conference Finals.  

Many veteran teams that have suffered through major drop-offs aren’t particularly excited about putting together a late playoff run, only to be outclassed in their opening round matchup.  There’s a reason that a team like Brooklyn, for example, isn’t on this list.  But the Pacers are one veteran team that is capable of pulling off a series upset Read more



Tags: NBA Indiana Pacers Oklahoma City Thunder Teddy Covers Las Vegas




Awesome video of Las Vegas casino demolition

02.10.2015     01:51 PM     Printer Friendly
Hopefully this isn't some sort of metaphor for your evening of betting college hoops.




Tags: Las Vegas




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




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




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: Las Vegas sportsbooks promote "Big Game" parties

01.28.2015     11:34 AM     Printer Friendly
SportsMemo.com blog entry.
Add the NFL to the list of things that suck. The other day we linked to a list of all of the Las Vegas sportsbooks hosting Super Bowl parties. There's one common theme: the sportsbooks aren't allowed to promote their party using the term "Super Bowl." Geesh. "Big Game" seems to be the most commonly used alternative. The NFL dropped the hammer on this over a decade ago but still feels the need to pop it's head in every year for a passive aggressive reminder to never mess with the machine.




Tags: NFL Las Vegas 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, Sammy P Sports, Ian Cameron, and Drew Martin. Listen to these handicapping experts daily on the Sportsmemo Radio Show from Noon-2 pm PST on Fox Sports 920AM in Las Vegas and the web at Sportsmemo.com.  Missed the Sportsmemo Radio Show?  Past shows are available on Sportsmemo.com's radio archive page. Looking for daily sports betting tips and sports betting advice on the MLB, NBA, NCAA, NFL, NHL, AFL, and PGA? Check out the interactive sports betting posting forum, matchup statistics, 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.   Jun 30, 2015 07:28 AM.