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Teddy Covers' Las Vegas Wiseguy Report: Bettors ready for Super Bowl XLIX

01.26.2015     10:49 AM     Teddy Covers     Printer Friendly
Submitted by Teddy Covers blog entry.
It’s Super Bowl time again.  I use this line every year because it’s true – this IS the moral equivalent of Christmas Day for many sports bettors.  Yet, much like last year, many of the professional full time bettors that I know are rather disappointed with the proposition betting opportunities for Super Bowl XLIX – there’s simply not much low hanging fruit.  The biggest and best sportsbooks (market leaders both here in Vegas and offshore) have learned from previous mistakes.  Weak numbers do NOT abound in 2015.

Let me start with the game itself.  The Super Bowl itself has been an underdog bettor’s paradise in recent years.   The Seahawks were underdogs at kickoff last year in their blowout win over the Broncos. The Ravens won the Super Bowl in 2013, as the underdog, beating the favored 49ers.  The Giants won the year before as an underdog; knocking off the Patriots.  In 2010, the Saints won straight up as a dog over Peyton Manning and the Colts.  In 2009, the Cardinals covered the spread in a tight loss to the Steelers.  In 2008, the Gia nts beat the favored 18-0 Patriots Read more

Tags: NFL Super Bowl XLIX Teddy Covers Las Vegas

Las Vegas sportsbooks gear up for Super Bowl XLXI

01.26.2015     10:43 AM     Printer Friendly blog entry.
Our friends from The Vegas Parlay have compiled a nice list of all of the Las Vegas sportsbook Super XLIX parties. There’s everything from high-end group parties to $1 hot dogs.

Tags: NFL Super Bowl XLIX Las Vegas

WATCH: Sportsmemo Handicapper Teddy Covers in Life On The Line

01.23.2015     02:33 PM     Printer Friendly
With no football this weekend (the Pro Bowl doesn't count) and 200 college basketball games perhaps not your schtick you can sit back and watch the sports betting documentary Life On The Line for free. It features Sportsmemo Handicapper Teddy Covers as they discuss life as a sports bettor in Las Vegas.

Tags: Las Vegas Teddy Covers

Sportsmemo Handicapper Teddy Covers to speak at Mob Museum

01.21.2015     01:50 PM     Printer Friendly blog entry.
Sportsmemo Handicapper Teddy Covers will be speaking at tonight's Courtroom Conversation at the Las Vegas Mob Museum. The topic, of course, will be sports betting! For more info, click here.

“The two greatest blunders in the history of U.S. gaming were the support of the Professional and Amateur Sports Protection Act, which helped create the offshore online gaming industry, as well as prohibiting the expansion of legal sports wagering into other states.”

Tags: Las Vegas Teddy Covers

Season ticket sales key if NHL wants to set up shop in Las Vegas

01.20.2015     01:19 PM     Printer Friendly blog entry.
The NHL is considering an expansion team in Las Vegas but before they pull the trigger, the biggest question remains will there be enough interest? Obviously they’ll draw from the tourist crowd but local interest, particularly that of season ticket holders, will be paramount.

"I've never understood who the Vegas market is," said former Calgary Flames general manager Craig Button. "People live there (because they work there). I don't know any Las Vegans or whatever you call them. I don't know if you can have a professional sports team there if you don't know who your market is."

"If we sell 10,000 season tickets, I believe we will go a long ways to getting the franchise," Foley told USA TODAY Sports. "Ten thousand is our number."

Tags: NHL Las Vegas

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


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