EGamingPulse - Sports betting

For Bookies, Football Is King

info@egamingpulse.com (news manager) — Tue, 18 Sep 2007 00:00:00 -0700

With September now here, Nevada bookmakers are clamoring to get the grand prize of gaming enthusiasts: the hordes of American football fans.

According to recent numbers, last year sports books made over $84M in profits, an astounding 104% increase from the previous year.

Frank Streshley, a senior analyst for the Nevada Gaming Control Board, sees these numbers not as the status quo however, but a correction of the craziness the last two football seasons have provided.

Two years ago, the casinos had a disastrous year and what they explained to me was that favorites were covering in an abnormally high number of games and the books just got hammeredlast year, there was a complete flip flop.

Still, sports books are betting on customers returning, and in even greater numbers. They are offering more and more contests designed for the high rollers, as well as your average fan. So far, it looks like mixed results, with week 1 having the favorites mainly covering the spreads, while last week the underdogs put in a respectable showing.

Despite the betting jump due to football, sports-betting in general has taken a backseat to casino games, gaming analyst Ken Adams surmises.

With a sports book, when you get a game where the numbers are upside down, you lose, according to Adams. But with a slot machine, the mathematics of a slot, over a large enough number of wagers, are guaranteed to hold within a very narrow margin of its theoretical hold percentage.

With football, One big upset, where the books take a bath on a game, show dramatically in the numbers.

Dog Days of Summer For Bookies

info@egamingpulse.com (news manager) — Wed, 11 Jul 2007 00:00:00 -0700

Maybe its the nice weather. Maybe its family time. Or maybe, just maybe, the long grind of the baseball season is to blame. Whatever the reason, most bettors seem to hibernate until the NFL pre-season starts up again. According to Fred White, Racing and Sports Book Director for the Rainbow Montego Bay Casino and Resort in Wendover, UT, most bookies in the past used to close down shop after the NBA playoffs and not open again until the NFL pre-season began. One guy used to put on his door Gone fishin till August 1st, White said.

Summer is known as the deadest time of year according to White because for whatever reason baseball simply doesnt interest gamblers. He guesses it must be the long grind, with so many games every day and 162 games per team in a season. Summer days are even slower than a Christmas Day, White stated. There really is nothing to bet on, just baseball.

When the NFL starts up again, its basically night and day. Bettors come out of hibernation and no bookie would dare miss even the week before pre-season which matters nothing in the standings for fear of losing a tremendous amount of business.

So who then is betting on baseball?

Unless you happen to get a person whos just a baseball nut, its the casual guy who happens to be [in Nevada], White says.

"Bizarre Coincidence" Costs Irish Bookie $13,600

info@egamingpulse.com (news manager) — Mon, 09 Jul 2007 00:00:00 -0700

Paddy Power LLC has some eco-friendly egg on its face after a gaffe on one of its proposition bets cost the Irish bookmaker 10,000 euros roughly $13,600. After listing a bet that Al Gore would be the next high profile American arrested and not specifying if it would be Al Gore, the politician, or his son Al Gore III Paddy Power felt obliged to credit the 50 people who had taken up the bet once the younger Gore was arrested July 4th.

We got a good stoning thanks to the vice presidents son, the company said in a statement.

The bookmaker often presents oddball wagers, or props as they are known. In June it offered 33-to-1 odds that President Bush would be arrested and 50-to-1 odds that Bill Gates would be busted by the feds. When the 24-year-old Gore, who works as an editor for GOOD magazine, was arrested with marijuana and non-prescribed prescription drugs, however, the bookmaker was definitely caught with its pants down.

The arrest came just days before the Live Earth series of concerts that the former vice president was promoting to spread awareness of global warning. Gore stated that his son would seek clinical treatment for addiction.

This was just one in a series of arrests for the high-profile son. In 2003 he was arrested for marijuana possession and as well has two driving arrests one in 2002 for driving under the influence and one in 2000 for reckless driving.

Telephone Betting Pays Off for Ladbrokes

info@egamingpulse.com (news manager) — Thu, 05 Jul 2007 00:00:00 -0700

British bookmaker Ladbrokes indicated this week that despite shortfalls in its over the counter business, an unexpected rise in high-wager betting over the telephone in the past few weeks has helped them reach record highs in profits.

Profits from telephone betting in the first six months of 2007 rose about 45 million pounds ($90.8 million) as compared to the first six months last year. This is a huge turnaround from the news in April, when Ladbrokes reported telephone betting was down close to 10 percent from last years first four months. When asked for the sudden rise in telephone betting, a Ladbrokes spokesman was unaware, stating that betting has not been concentrated on a few events but has been pretty much across the piece.

With over 2,500 betting shops across the UK, Ireland and Belgium, Ladbrokes has managed to consistently turn profits despite changing legislation and the growing challenge from Internet gambling.

Italian Prosecutors Question Players Over Illegal Betting

info@egamingpulse.com (news manager) — Tue, 26 Jun 2007 00:00:00 -0700

The Italian soccer betting scandal took another turn on Tuesday as Palermo forward Di Michele, Atalantas Thomas Manfredini, Vicenzas Massimo Margiotta and Mantovas Vincenzo Sommesse were all summoned by the Italian Soccer Federation for questioning by Italian prosecutors over an alleged betting ring. They are accused of making bets, either directly or indirectly, through an illegal bookmaker and are amongst 21 players linked by investigators to bets totaling more than US$14 million in the past decade.

Officials with soccer clubs Udinese, Vicenza and Mantova will also be questioned as a part of the investigation. Meanwhile, Italy striker Vincenzo Iaquinta was one of 15 players and officials cleared of involvement in the betting ring.

Betting was not illegal for players and officials until late 2005, but they are accused of not using a legal avenue with which to make bets. If found guilty, the players could be banned for up to a year.

Economic Hardship Prompts Launch of Sports Gambling for Taiwan

info@egamingpulse.com (news manager) — Fri, 15 Jun 2007 00:00:00 -0700

In order to stimulate economic development in the depressed southern and central areas, Taiwan is preparing to introduce sports gambling on April 15, 2008 according to the director of the Council on Physical Fitness and Sports.

Yang Chung-ho yesterday confirmed that three types of sports gambling would be introduced, including horse and car racing. The latter will probably be the first to be made available as car racing does not require a change in the current laws, while horse racing would require a change to the countrys Animal Production Law, which states that animals cannot be used for gambling purposes. Changing this law could take a fair amount of time, however Chung-ho stated that he anticipated it should move along fairly quickly to help aid the economy of the Southern and Central areas.

The Council is set to meet on September 10 of this year to decide which institution will be in charge of issuing lottery tickets as well.

Winning Streak Comes to an End for Shop Manager Trainee

info@egamingpulse.com (news manager) — Mon, 11 Jun 2007 00:00:00 -0700

Internal Audit reveals employee settled bets in favor win or loss

John Joseph Holden, 21, of Glebe Close, Accrington pleaded guilty last week to three charges of theft after his employer, Coral Bookmaker, launched an internal audit that revealed he had incorrectly logged bets in his favor to the tune of 1,659 (Euros.).

After only four months on the job, Holden had forged several small wager slips over an 11-day span to avoid detection, but to have them always come out in his favor.

Despite his continued action, his lawyer, Jonathan Taylor, stated that Holden must have realized his actions would not go unnoticed.

Every bet is scanned into a central computer and the system is foolproof according to Taylor. He realizes he has been incredibly stupid but these were the actions of a desperate individual.

He said that Holden and his partner had a 20-week old baby and fell into debt preparing for the arrival and caring for the child.

He was remanded on bail, but warned that it could be revoked pending a pre-sentence report.

F1 team order to cost Ireland's Biggest Bookmaker $100,000

info@egamingpulse.com (news manager) — Tue, 29 May 2007 00:00:00 -0700

Paddy Power is Irelands largest and sometimes most controversial bookmaker. They have drawn flack from the public, the catholic church and the government standards watchdog for some of their more risqué advertising campaigns, novelty props and press releases. However the bookmaking firm has decided to refund punters who were set to lose money from the recent and controversial Monaco F1 Grand Prix.

F1s governing body, the FIA has started an investigation into how Lewis Hamilton, a British driver with the Mclaren team was ordered not to challenge team-mate Fernando Alonso. The FIA is concerned that rumored team orders were enforced, something which FIA regulations expressly forbid.

Another British high-street bookmaker, William Hill, suspended betting on the outcome of the drivers' world champion after the FIA started the investigation. William Hill has however confirmed that they would pay out to those who correctly predicted Fernando Alonso as the winner.

The decision to refund bets may cost Paddy Power up to $100,000. "The only fair thing to do is give punters their money back" said a Paddy Power spokesperson. "There's an unwritten rule in betting. If you can't win, you can't lose."

NBA Betting: In 2006 we were hammered, now we are ready to tank

info@egamingpulse.com (news manager) — Wed, 16 May 2007 00:00:00 -0700

Figures released by the Nevada Gaming Control Board indicate that Nevadas Sports Books saw a 17% drop in profit from basketball wagers when compared to the same period in 2006. Opinions on why this is vary, however many agree that there is less general betting interest in the NBA. NCAA basketball and its March Madness tournament however consistently bring good results every March.

John Avello is the director of race and sports operations at Wynn Las Vegas. "The (17 percent) is not really a surprise. People just dont care about the NBA regular season. Avello also said that NBA figures in March have declined over the past three years. He does, however, expect it to flatten out.

"I think it has reached rock bottom," he said. "The Lakers and Celtics are not the teams they were and the superstars seem to be drawing less attention from the public. However, in betting, the gap between March Madness and the NBA narrows. There is no doubt that the NBA cant compete with the NCAA tournament as a more attractive event."

"The NBA is the only league that allows teams to tank games, said Tom Foster, race and sports supervisor at the Golden Nugget, "Teams are trying to get as many ping pong balls (for the NBA draft lottery) as they can."

"In 2006, we were hammered in the NBA," Foster continued. "This year we were ready for the tanking. We recognized when Paul Pierce would have a phantom injury or when Michael Redd would be benched in Milwaukee games for the final quarter. The lines here were adjusted and bettors didnt want to bet."
Basketball fans and bettors alike acknowledge that the NBA is "big-market driven" and that sports gamblers, knowing the New York Knicks were out of the playoffs in late March, may have been swayed by the adjusted odds and opted to sit those games out.

It would seam that the decline in NBA betting during March did not apply to all sports books in Nevada. The Las Vegas Hiltons SuperBook reported that their overall handle was up on the NBA in March 2006.

NCAA Thinking Anti-Gambling, Not March Madness.

info@egamingpulse.com (news manager) — Tue, 20 Mar 2007 00:00:00 -0700

March Madness is second only to the NFL season as a sports wagering phenomenon, and this fact has one NCAA department not thinking about college basketball but about curbing betting by student athletes. The NCAAs Agent, Gambling and Amateurism Activities department in partnership with two other groups has launched a sports wagering curriculum titled "When Gambling Takes Control of the Game." The text was designed to heighten awareness of gambling's addictive dangers to high school athletes. According to the NCAA, it also aims to teach the difference between positive and negative competition, and the tell tale signs of the gambling addiction.

Pat Fowler is the executive director of the Florida Council. He said that students, and in particular boys aged 10 to 12 years old taking their interest in wagering on sports and carrying it through to college.It isn't necessary to have something at risk to enjoy the sport," Fowler said. "It's a short-term solution to, hopefully, a long-term problem for some of these students. When Gambling Takes Control of the Game is available at the NCAA website. http://www.ncaa.org/wps/portal

New type of Sports Betting operation comes to Curacao.

info@egamingpulse.com (news manager) — Fri, 16 Mar 2007 00:00:00 -0700

Curacao was one of the first locations to offer online sports book companies a safe haven from which to operate. One of the provisions for obtaining a sports betting license from the Government of the Netherlands Antilles is that an operator shall not offer its online gambling products to the residents of the island. But a new sports betting product that uses the internet to place a bet does just that. iSports Stands is a betting kiosk that allows its customers to use a credit card to make picks on sports. Designed for use in areas outside of the gaming floors, hotels that have a casino but not a sportsbook can now offer sports betting to their patrons. Winners are issued credits, which they can cash out with a cashier or use for more betting. The iSports Stand also has non-gambling functions. You can use a credit card to buy a show ticket or an island tour for example. Another feature, and one attractive to the casino owners, is the kiosks ability to serve adds. Businesses can advertise on the kiosks side panels and via banner ads on the kiosk screen.

In Curacao, the Casino Awasa in the Otrobanda Hotel was one of the first to offer the iSports Stand. I have had a lot of requests for sports betting over the years and have always had to send people somewhere else to make their bets. Now the Otrobanda is able to offer this service, without remodeling or hiring additional employees. said Martin Eustatia, manager of the Otrobanda Hotel.

The iSports kiosks hit Las Vegas in late January, and have started appearing in greater numbers on and off the strip. Bill Stearns is president of kiosk manufacturer ISI Ltd. of Las Vegas, maker of the iSports Stand, and he says the machines cant ever hope to replace the Las Vegas sports book experience. Similar to banks, bank tellers still exist and have their functions," Stearns said. "We're ATMs for sports books." Stearns went on to say that he expects sports wagering to increase overall as betting becomes more convenient.

Beat the bookie and ace your office NCAA pool

info@egamingpulse.com (news manager) — Tue, 06 Mar 2007 00:00:00 -0700

Office pools popular where you work? Your results from the NFL and Oscar pools not so hot? You still have a chance to scoop the NCAA Basketball March Madness pool from your work colleagues. The NCAA tournament starts March 15 and the championship game will be played on April 2. This time of year is insane for online sports books, second only to the NFL season. The NCAA college basketball tournament also gives both college basketball experts and fans alike a good chance to earn cash and most importantly bragging rights around the water cooler.

Challenger, Gray & Christmas is a U.S. based research firm, and their studies show that up to US$1.2 billion in productivity could be lost this year due to office workers participating in March Madness pools.

That is a lot of employees spending a lot of time concentrating on things they should not.
But all of this doesn't mean you dont have a chance at winning the pool where you work.

Money magazine published some good tips based on common sense and respected Saint Louis University math professor Bryan Clair contributed to the picks. Clair advises to go with the highest seeds in the first two rounds of the tournament. Most office pools utilize a format that awards more points for your correct picks as the rounds advance. So it's usually best to go with the top seeds. Professor Clair studied the probabilities for the championship game, and it may go against what you may be thinking. Many pool entrants will select first or second-seeded teams to win the tournament. However, if you pick the third, fourth or fifth-seeded teams, you will have a good chance at winning. Importantly, if the underdog does take the top place, you will have less competition for the prize pool as most entrants would have backed the top seeds.

Australian Bookmaker looks to Cell phone betting.

info@egamingpulse.com (news manager) — Thu, 22 Feb 2007 00:00:00 -0700

Centrebet, the Australian based online gambling company, has reported a net profit after tax of A$6.2 million during the six months to December 31. This figure includes the costs for the company's initial public offering in July.

Centrebet managing director Con Kafataris said "Centrebet is confident of exceeding its full year forecasts for total revenue, EBITDA (earnings before interest tax, depreciation and amortisation) and NPAT,"

The company went on to say that a focus on customer retention and better risk management will allow it to surpass its full year profit forecast.

"I am pleased to say that our targeted marketing strategy to retain and reactivate existing and dormant wagering clients, continued improvements on our risk management, coupled with favourable sport and racing results and efforts to grow profitable turnover are proving successful," Mr Kafataris said.

Cell phones, or mobile phones as they are known down-under, figure prominently in the companys expansion plans and the phone and PDA platforms offer another way for punters to place sports wagers and play online games.

"We have a number of strong growth initiatives in the pipeline that will place the company in good stead for the years ahead," Kafataris said.

Centrebet reported that revenue from poker did grow, but due to third party technical issues lower than expected $3.2 million during the period.

NCAA: Dont Bet on It

info@egamingpulse.com (news manager) — Tue, 13 Feb 2007 00:00:00 -0700

The National Collegiate Athletic Association (NCAA) is working with the National Federation of State High School Associations and the Florida Council on Compulsive Gambling (FCCG) in an attempt to reduce sports gambling amongst teenagers and young adults. These three bodies all have a strong focus on elevating general awareness about the dangers associated with gambling.

A curriculum has been designed to educate student-athletes about the different forms of gambling and its potential addiction. This curriculum is the latest component of the NCAAs ongoing Dont Bet on It campaign.

A recent NCAA study found close to 45 percent of student athletes surveyed made their first sports wager in high school or before. A FCCG study showed sports gambling is in the top three forms of gambling among Florida residents.

Pat Fowler, executive director of the Florida Council on Compulsive Gambling said:
Gambling has become a serious problem for many young people and we are gratified that the NCAA and NFHS are actively launching prevention curriculum, Our joint program empowers students to make informed decisions that can impact their lives in the short and long-terms. It also provides the means by which students and student athletes can access help for a gambling problem in a secure and confidential manner.

WillHill closes book on Prince William's wedding

info@egamingpulse.com (news manager) — Sat, 06 Jan 2007 00:00:00 -0700

Prince William has been linked with one Miss Kate Middleton for some months now. The two were students at St. Andrews and house mates at the same Scottish University. The relationship has obviously moved past that of school chums, as they have been sited at several romantic dinners at swanky London restaurants. In fact, early this week the couple was seen leaving a London nightclub with no less than 10 police officers forming a security cordon. All of this has been a catalyst to rumors of an engagement announcement.

William Hill, the UK high street and online bookmaker offers a range of "celebrity props", and they report that interest in a possible royal wedding and more specifically when it will take place is intense.

"One punter wanted to place a 1,000 pound bet (US$1,930)that the couple will marry on July 19 a William Hill spokesman told Reuters this week. The spokesperson went on to say that , "we're no longer accepting wagers on that day." In fact, betting on the date of a royal wedding is so high that William Hill stands to lose more than US$95,000 if the couple marry in 2007. If the date is set at July 19 William Hill will have to pay out to the tune of US$40,000.

Closing the book or stopping additional bets being placed on a particular date or outcome of an event is common bookmaking practice, and allows the bookie to limit his liability.