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January

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What we can learn from prediction markets

07.18.2012     09:31 AM     Printer Friendly
Cool article from the New York Times on prediction markets.

 

(It is sometimes said that Las Vegas-type sports-event betting markets, such as the one that produced the odds on the Chicago Cubs, are not pure prediction markets because some participants are bookmakers and others are casual bettors, so the odds do not reflect precisely how the money is bet. But that’s my point: successful prediction markets do not consist solely of insider traders).











Handicapper Teddy Covers gives the scoop on summer football betting in Vegas

07.17.2012     12:46 PM     Teddy Covers     Printer Friendly
Submitted by Teddy Covers

SportsMemo.com blog entry.
The LVH Superbook is most assuredly a wiseguy friendly establishment, consistently ranked along with the Cantor books as the best sportsbooks in town. Jay Kornegay and his staff are industry leaders – the betting boards at LVH are loaded with a bevy of wagering opportunities that many books in town don’t offer; particularly around Super Bowl time.

Kornegay doesn’t ratchet up the juice either, offering ten cent lines during baseball season and twenty cent lines for his win totals on both NFL and college football. On their future book, the LVH is willing to adjust in both directions. For example, within the past week, the LVH adjusted their Odds to Win the Division for the 2012 NFL season on ten of the 32 teams.

Five of those teams are now more expensive to buy – less of a return on investment since last week. But five of those teams are now cheaper to buy, offering better value than they did a week ago. Many sportsbooks in town simply adjust odds down from their openers in response to the bets they’ve received, but the LVH is one book willing to adjust upwards in an effort to attract more handle.

The LVH took center stage Read more


Tags: NFL College Football Teddy Covers




NFL Gambling: San Francisco 49ers are Super Bowl favorites at MGM

07.17.2012     07:33 AM     Printer Friendly
SportsMemo.com blog entry.
Grantland's Bill Barnwell provided an update on the current football markets in Las Vegas. He pointed out that the San Francisco 49ers are currently Super Bowl favorites at the MGM sportsbooks.


The San Francisco 49ers??? That's correct: The Niners have gone from opening at 10/1, where they were tied as the fifth favorites alongside the Saints, to 4/1 favorites at the MGM family of sportsbooks to win Super Bowl XLVII. You know, the Niners with Alex Smith at quarterback who have just one winning season in the past nine years.






Tags: NFL San Francisco 49ers




World Series of Poker whittled down to final nine after today

07.16.2012     12:17 PM     Printer Friendly
SportsMemo.com blog entry.
The World Series of Poker is winding down its summer session as the nine finalists for October's final table will be determined later today. First prize is $8.5 million. Montreal's Marc Ladouceur is currently in first place with over 15,000,000 in chips.



Tags: Poker




Vegas oddsmakers talk customer comps

07.16.2012     07:13 AM     Printer Friendly
Various Las Vegas sportbook directors discuss their philosophies on customer comps.


"It's difficult when you have a different operator running the casino than you do the book," said Vic Salerno, chief technology officer and chairman of the board at William Hill in Las Vegas. "There is an automatic conflict between the two businesses."

"The comps have really dwindled ... with each property being different," said Mark Goldman, director of race and sports operations at Cantor Gaming.

"We've kept it pretty much the same for 23 years," Kornegay said. "We've made some adjustments over the years to recover costs, but that's it."






Tags: Las Vegas




Teddy Covers' Wiseguy Report: WSOP edition

07.09.2012     11:05 AM     Teddy Covers     Printer Friendly
Submitted by Teddy Covers

SportsMemo.com blog entry.
Even the sharpest bettors in the world don’t spend 100% of their time focusing on sports. This week in particular is arguably the lightest sports betting week of the entire year.

Baseball is on their annual All Star Break through Friday. There’s no Canadian Football or Arena Football scheduled until Thursday, and between the two leagues, the dozen games on tap for the week offer fewer potential betting opportunities than a single day with a full slate of MLB action. Wimbeldon is in the rear view mirror for tennis bettors, as is the Euro 2012 for soccer bettors and UFC 148 for MMA bettors. It’s the time of year where most professional bettors are either on vacation or engaging in another positive expectation activity. Here in Las Vegas, that activity usually involves the World Series of Poker.

In the four decades since its inception, the World Series of Poker has grown from a tiny tournament attracting only a small handful of bettors into the modern behemoth at the Rio; a true spectacle even for seasoned pros. The 2012 WSOP features a whopping 61 different bracelet events over a more than six week span. In this week’s Vegas Wiseguy Read more


Tags: Teddy Covers




Poker player jumped outside Vegas club following second place WSOP tourney finish

07.05.2012     06:19 AM     Printer Friendly
SportsMemo.com blog entry.
Not cool. Following Sam Trickett's second place finish at the World Series of Poker's 'The Big One For One Drop" event he was reportedly roughed up by six dudes outside of a Las Vegas club. He obviously didn't have the $6.5 million is winnings on his person and his girlfriend later claimed it wasn't that big of a deal outside of Trickett getting his face worked over.


“Was having a great day until 6 guys did this to me. Seriously Wtf? Couldn’t be more angry… #cowards.”

“Is this what happens if ur successful? literally beat the shit out of me and spat in @NatashaSandhu face all over nothing.”






Tags: Poker




NFL Gambling News: Oddsmakers agree that later start time means bigger handle

07.03.2012     11:10 AM     Printer Friendly
UPDATE

Article from ESPN's Chad Millman on the NFL's decision to push back the start of the late afternoon games.


"It will help, there is no doubt. And since they are doing it, I'd like to see the league stagger the schedule even more," says Vaccaro. "Let's start some games at 10 a.m. Vegas time and others at 11 a.m. And let's turn Monday nights into a doubleheader every week."

"For years, sports-book directors have been saying this was necessary," longtime Vegas reporter Dave Tuley told me last night. Added Lucky's Jimmy Vaccaro, "The 4:15 start had been getting tight. Now I don't think we will ever shut anyone out."







Bettors rejoice after NFL pushes back afternoon start times

06.28.2012 Read more


Tags: NFL




NFL Handicapping: Bettors not bullish on Baltimore Ravens

07.02.2012     12:28 PM     Printer Friendly
SportsMemo.com blog entry.
Las Vegas bettors appear to be shying away from the Baltimore Ravens in the futures market. Station Casinos opened the Ravens 8/1 to win the Super Bowl but due to a lukewarm reception at the betting window, their odds were dropped to 15/1. The Saints were another team that hasn't drawn much interest having dropped from 6/1 to 18/1 to win the Super Bowl.


“A tough schedule and the loss of Terrell Suggs have the Ravens headed in the wrong direction at the sportsbooks,” wrote National Football Post’s Joe Fortenbaugh. “Plus, it’s not like Joe Flacco is inspiring the masses to rush to the counters with Baltimore love in their collective hearts.”



Baltimore Ravens Futures @ Pinnacle
Season O/U Wins: 10
AFC Championship: +857
SUPER BOWL XLVII: +1897




Tags: NFL Baltimore Ravens




William Hill continues to make waves in Nevada

06.29.2012     08:05 AM     Printer Friendly
SportsMemo.com blog entry.
William Hill is doing everything it can to take over sports betting in the state of Nevada.


“We have developed strong relationships with the Affinity Gaming team, providing a first-class betting product and collaborating on creative marketing programs, and we look forward to expanding the partnership,” Joe Asher, William Hill U.S. CEO, said in a statement. “We will be investing in these properties, bringing in new customers and enhancing the customer experience through our wide ranging betting product and technology.”










48

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