Sports Betting-Inside the Numbers

 Sports Betting is growing exponentially in popularity.While it has always been part of the landscape in other countries,it is still in the developmental stage in the United States. Prior to the repeal of _PASPA six year ago,legal bets were limited to Nevada. That has now expanded to 38 states. So in an effort to understand the business,I will take you inside the numbers on difference levels.This will allow you to make smart and responsible decisions.

Most articles that you see on Sports Betting will give opinions on who will win the game or who will perform at what level during a contest. I am taking the perspective that the number attached to the event should mitigate the play. The play is the amount of the wager. An example is a star pitcher for the Philadelphia Phillies, Ranger Suarez starting against the Oakland Athletics.The price to wager on the Phillies Money line for that game was -235. The money line is a wager that on who will win the game ,regardless of the score.While the Phillies are the best team reordwise in the MLB and the  A's are one of the worst,the price of taking the money line is exorbitant.The win on -235would bring you $100 and you would have $335 in your pocket. A loss would cost your $235.So you would have to win 3 bets at that money line number to recoup your initial loss. The Phillies loss the game 6-2. 

If you are deadset on making a wager at this price,an intelligent approach is to include the bet in a parlay. While the price will weaken the payoff ,the odds of you hitting the parlay have increased without the cash overlay.

We just went inside the number. Before lookung at the odds that are posted,have a price in your mind that is optimal to yourbankroll.Do not exceed that price regardless of the conditions associated with the teams.While Sports Betting is fun,it's more enjoyable when you are discipline and strategic. 

Check out another sports betting strategy in the videi.

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Monday Motivation: The Return to Work Blueprint

So far, my Monday Motivation posts have been designed to help us stay the course thru COVID-19. Each one,for the past four weeks, has given concepts and suggestions as to what to we should do in the meantime. Now multiple states are planning some form of re-opening. The last phase in each anticipated re-opening are hotels,casinos and entertainment venues. Since that is the majority of my colleagues and followers, this Blueprint was crafted for the gaming. tourism and hotel industries.

We are fortunate that a large percentage of the aforementioned industries have employees that reside in states that are taking the "let the data determine the date" approach. They include Pennsylvania, New Jersey. New York, Nevada and Michigan. If the numbers of people infected does not get to a level  determined by the state as a green stage then there is no choice but to wait until the pandemic subsides.

So when we return to work, the Blueprint requires that the operators and owners of each organization have placed the ultimate value on the safety and well being of the employees that will be returning to the workplace. They will be the most valuable asset the companies have in helping the business return to pre COVID levels. There should be a meeting that informs everyone via phone, email or zoom as to what the strategic plan will be.

That plan must consist of testing of the staff so everyone can feel save interacting with each other. Step two will require a social distancing policy that must be adhered to without exception. It will include the requirement of wearing a mask to protect the staff and the guests from each other. Step 3 will mandate a dedication to having the cleanest work area conceivable. This will gain public confidence that all measures are being taken to insure safety. Step four has a compulsory level of contact tracing. If there is a reported case of a guest or employee being diagnose with Coronavirus, you can have a general idea as to who that person can in contact with. This will be a proactive method to keep the virus from spreading.

In order for the Blueprint to work, there will be changes to the Standard Operations Procedures (SOP). A level of flexibility must be inherent because of a natural tendency to do things the way we have previously. Unfortunately, we won't have the ability to do that initially. Every one must buy in! If we are practical and patient, we will be thriving and fiscally successful. Each organization will have to develop partnerships to move the business incrementally. I can go into more detail but that should be part of a formal conversation. I have some time now, as most of us do, to welcome such an exchange.

This is the moment where we see the light at the end of the tunnel. If you have missed some of my earlier posts on Monday Motivation, I have included two that will bring you to the level we are now.

                                           When this is over  and Casino Life after COVID 

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Sports Betting 101: The Las Vegas Experience

After decades of having a monopoly on legal Sports Betting in the United States, Nevada is now sharing it's spotlight with the rest of the nation. There are several states that are currently offering sports betting with legislation in place for at least 20 more within the next 2 years. So if you are about to make your 1st bet or if you have made a wager on a sporting event outside of Nevada within the past 5 months,we want to give you a glimpse of what the Las Vegas experience.

Sports books in Las Vegas have a synergy that flows thru the hotel. The sports book is as much a staple of a property as the restaurants and the slots machines. But a great sports book experience will compare to being at Xfinity Live on Eagles game day. People will drive 50 to 100 miles to be a part of it. It will be excitement. The crowd will engage with each other and strike up conversation during breaks in the action. Those conversations will range from "who do you like today to where are you from."

The bets on the boards will cover all the major sporting events for that day or week. The busiest days are the weekends. The best offering for wagers is on Monday. Monday has MNF or Monday Night Football. It is the get back night. You are trying to get back the money you lost earlier that day or weekend.Many props bets that would not be available during the week will be offered. Be selective!

The sports books in Vegas range from the stadium style seating you find at casinos that feature blackjack,roulette and baccarat to plush lounge chairs and couches that provide special amenities. We will expand on which of these are trending as we continue this series. 

If any organization wants to innovate your Sports Betting operation from your competitors then watch what we post in 2019.

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Why is Sports Betting exploding?

Donovan Mitchell exploding for a dunk!

Sports Betting is exploding in several new jurisdictions. From the player perspective, the ability to

wager legally outside of Nevada is long overdue. So casinos and racetracks are merely giving the people what they want. States were anticipating a repeal of PASPA by the Supreme Court. That is why so many put laws in place so pundits like myself can share content and opinions. States all over the US also saw the millions of dollars that Americans will wager on sports.

Las Vegas Sports Betting is coming to a state near you!

So the race is on! What state will be the leader?  Which operator offers the best odds?  FanDuel and DraftKings  are in a prime position because of their expertise with Fantasy Sports. Will this carry over to Sports betting? With so many options to choose from, the betting public is in the driver's seat.

Operators take heed! Location is important. But that alone will not be enough. But enough for now.

Get the answers to the above questions by following me on social media,

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The effect of legalizing Sports Betting on Atlantic City and Las Vegas

After the monumental decision to legalize sports betting this week, Las Vegas and Atlantic City captured the spotlight. While most pundits shared opinions on ways to enjoy this practice legally in their own states, these two cities have the major ramifications. We will share  two of them.

Las Vegas will capture the attention of organizations that are adding sports betting to their gaming venues. This will include casinos and racetracks. They will emulate Vegas and attempt to do it on the same level but with a higher tax structure. Imitation is good but the results will not suffice. Look at the profit margin for most sports books. Casinos and Racetracks should lobby their state legislatures to come up with a tax rate that will allow them to make a profit and grow the market simultaneously.

Atlantic City will change the tourism paradigm of the Northeast and Mid Atlantic regions. During March Madness and the Super Bowl weekends, thousands of gamblers fly to Nevada to bet on the aforementioned events. They don't have to anymore. This effects air travel and hotel occupancy. Nevada goes down slightly while New Jersey goes up, The airport in Atlantic City gets a facelift. More flights into Philly and New York from the South and Mid West because of the reduction in travel time. Gamblers despise traveling across country when they have other options available. Gas

prices will inch up in the months of January thru March. Expect an increase in tolls that lead to AC in the next 12-18 months.

We will share more in the weeks leading to the #ECGC22. Look forward to seeing you then.
Here is the link to the top gaming conference this year. East Coast Gaming Congress


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Pennsylvania Gaming Expansion: Will Taxes limit Interest in Online Gaming?

Pennsylvania Gaming Expansion has an extremely high rate of taxation for I Gaming. While the rate for table games and fantasy sports are moderate and in the teens, the legislature took a more aggressive posture with slot play. The tax on slots for casino operators is at 54%. While this matches the amount that brick and mortar facilities pay presently, it is high for a online situation. The initial thought is that will diminish interest in the product. 

Our take is a resounding no. It is too large an upside not to take part of. We will share one creative way that intelligent operators can find success in the I Gaming world. Look at the compact agreement that Delaware, New Jersey and Nevada have. They can share players and increase liquidity. Imagine the entire Commonwealth of Pennsylvania added to such an agreement. The monetary upside would be worth the cost of investment.

If you want more shrewd ways to build your online experience as an operator or a player, you can reach out to us.

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Responsible Gaming Week

This week is Responsible Gaming Week. The members of the AGA want to promote an environment that does not take advantage of the weakness of many that can not control the urge to wager and venture into addiction. They want to insure that minors and underage people are not part of any gaming institutions. Procedures that advocate these principles should be prominently displayed.

Pamphlets that tell patrons about the gamest offered and the odds of winning should be available upon request.

Guests will make an educated decision if all the facts are presented to them. We have a responsibility to engage with the patrons and have conversations about what is responsible gaming behavior. Tact and diplomacy are key components to having these discussions. We suggest that every team have someone that is capable of having an exchange  that is part of our corporate duty to all of our customers. Here are some activities that you can do with your management team.

Include questions on quiz in the EDR to be submitted in drum, with properly completed quizzes being entered into a prize drawing.

Distribute RG quizzes around property for employees to pick up and complete. Providing details on where to submit quiz for chance to win a prize.

Roving RGA quiz questions - Have supervisors or other property employees roam the floor and ask employees an RG- related question. If the employee answers it correctly, he/she may be given a prize on the spot. 



If you need further info contact  the AGA.

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Sports Betting:It's Time

The Supreme Court is scheduled to hear New Jersey's case that they be allowed to have sports betting. The timetable to hear the case is this fall with a decision being rendered at the end of the year or the spring of 2018. While it still a long shot that the court will rule in New Jersey's favor, this is the ray of optimism proponents of sports betting desire. The AGA has been extremely influential in letting the legislators in Washington know the ramifications of Sports Betting. A billion dollar industry that currently operates largely in an illegal market. The tax revenue for the states and federal government would be tremendous. The amount of job creation would range in the thousands.The revitalization of the economy in Atlantic City would turn the shore from a 3 month entity to a year round destination.

At least several other states are watching this development closely. They include Pennsylvania.

Nevada would welcome the lifting of the sports betting ban because they could expand their reach into other jurisdictions that would allow the use of a mobile app to wager on games. This could happen if you have an account set up with a casino located in Nevada. The public is already betting on games. The consensus is that this activity is more socially acceptable than recreational marijuana.Cannabis is currently legal in some states and being considered in others.

                                                                It's Time!


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What Pennsylvania Gaming Expansion Means to You

We predicted this at the being of the year so this comes as no surprise. Check out our bold predictions for 2017. So let's look forward to what the expansion means to you.

You will be able to play casino styles game legally online The same games that you play at a brick and mortar facility will now be on your mobile device and your computer. This is comparable to shopping at Macy's in Cherry Hill and ordering the same items from your house. You save time and money while getting what you want.

You can play video terminal games or slots in places like bars,airports and OTB sites. While this will detract from the current slot revenue that casinos have, it will give a added appeal to local small budget establishments. We see regulation concerns that should be addressed.

Fantasy Sports Wagering will be part of the gaming industry. If you enjoy fantasy sports similar to US Fantasy in Nevada and Colorado then you can have those same experiences in the Commonwealth. This will create marketing and job opportunities.

Pennsylvania is looking at a budget shortfall of approximately 3 Billion dollars. This won't fix it but with taxes, jobs and license fees, this is a step in the right direction.

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This Week in Gaming Review

The 2nd week of 2016 provided statistics that made operators in Pennsylvania and New Jersey nothing less than ecstatic.  Pennsylvania posted record numbers last year to $3.17 billion, topping the previous high of $3.16 billion set in 2012. This information was released by the PGCB on Friday.

 

The four casinos in the Philadelphia area had $1.19 billion in revenue, up 3.9 percent form $1.14 billion the year before. Slots revenue was up 2.8 percent locally, while table games revenue gained 6.6 percent. The 4 Philly casinos include Parx, SugarHouse, Harrahs and Valley Forge. These outstanding numbers are a prelude to the Philly Live project that is expected to start construction within the next 11 months.

New Jersey Online Gaming hit a new monthly revenue high in December and full-year revenue improved by more than 20 percent. The Atlantic City leaders in December were Borgata and Caesars Interactive.

Borgata

According to figures released Wednesday by the Division of Gaming Enforcement, state-licensed online operators reported revenue of $14m in December, 6% more than November reported 13.2 million and 30.8% higher than December 2014’s total. The online casino vertical rose 39% year-on-year to $12m, while poker revenue fell 3.6% to just under $2m. For the year as a whole, the state’s online revenue came to $148.8m, 21% higher than 2014. Total online casino revenue in 2015 came to $125m, up one-third from 2014, while poker revenue fell 18% to $23.8 million. This is confirms that online gaming is trending in the right direction.

 

Governor Brian Sandoval

Lastly, Gov. Brian Sandoval officially reconvened the Nevada Gaming Policy Committee to discuss skill-based games and daily fantasy sports, among other issues.

According to a statement from his office, Sandoval signed an executive order to reconvene the 12-member committee, which includes the governor, select members of the legislature, a tribal representative, members of the public and other appointees, including gaming regulators and licensees.

"The industry is constantly changing as more states and countries enter into this increasingly competitive field, and I believe the changes we are witnessing demand the attention of Nevada’s policy leaders," Sandoval says in the statement.

According to the statement, "The objective of the Committee is to gather input from various constituencies, including the public, on gaming policy issues, for possible future consideration by Nevada’s Gaming Control Board and Gaming Commission, as appropriate."

The committee meet no later than March 15 and deliver non-binding recommendations before October. I am curious to see which licensees will be on the committee. I'll report that information in a future post.  I want to note that the Associated Press was the source of the Nevada related news. It was condense to fit this post.

 

 

I was 2-2 last week during NFL wildcard weekend with the best bet losing. Texans + 8.5 in a teaser.

This week my best bet is #Seattle + 8.5 in a teaser. Enjoy the games.

 

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Fantasy Sports is not Sports Betting: The Myth that came True

Nevada regulators handed down a ruling that Fantasy Sport sites can not operate in the Silver State

without a license. NBC News reported this. FanDuel and DraftKings can no longer take action in the state where gambling on almost anything is legal. This comes one week after the employee of   DraftKings  hit on the FanDuel site for $350,000. They both have institute a ban that prohibits employees from playing. Does the ban prevent the employees from sharing information with friends? Hmm!

 

FanDuel vs. DraftKings

 

 

                                                                

 

 

 

                                                               

 

                                                                  The Myth

The Trojan Horse is a tale from the Trojan War about the subterfuge that the Greeks used to enter the city of Troy and win the war. After a fruitless 10-year siege, the Greeks constructed a huge wooden horse  and hid a select force of men inside. The Greeks pretended to sail away, and the Trojans pulled the horse into their city as a victory trophy. That night the Greek force crept out of the horse and opened the gates for the rest of the Greek army, which had sailed back under cover of night. The Greeks entered and destroyed the city of Troy, decisively ending the war. A "Trojan Horse" has come to mean any trick or stratagem that causes a target to invite a foe into a securely protected bastion or place. This passage was provided courtesy of Wikipedia.

 

                                      So how did the myth come true?

 

Daily Sports Fantasy is the millennial Trojan Horse. The American operators pretend that it not gambling under the auspice of the 2006 Internet Gambling Enforcement  Act. 9 years later, the public is swayed by conventional wisdom  that this is the substitute for legal action on a game because it  is  technically not gambling. The selection of players from multiple teams does not constitute a "real" contest. The states are the protected place. We are allowing an unregulated form of wagering.

                                             

                                  Fantasy Sports = Sports Betting?  Hmmm!

 

The advertising dollars spent to entice players are outrageous. It does seem to be working. The incident that happen with the employee did not lower the interest in wagering on either site. It did alert the government to look at regulating Daily Fantasy Sports. I see partnerships that extend beyond licensing agreements and commercials. Casinos and Racetracks could connect with a site like Yahoo and DraftPot to offer Fantasy Sports. They have the facilities and are regulated. The sites have the software. The states could sell licenses for a fee. Everybody Wins. Hmmmm!

 

 

 

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Gaming Mid Year Review 2015

In case you missed it, we have hit the halfway point of 2015. If you are into gaming entertainment,this has been 6 months of speculation throughout the industry.

Here are the highlights of 2015 with my bold predictions of what happens by the end of the year.

 

 

 

 

Casinos proposed in North Jersey with tax revenue going to Atlantic City. Prediction -No.

Governor Christie supports it. New Jersey has a 30% approval rate of him. They will reject

his initiative.

Atlantic City has the Pier and Revel reopening.  Prediction - The Pier reopens while Revel

does not. Bart Blatstein's track record in Philly shows he can develop a project and make it

appealing. Nothing definitive for Revel until 2016.

 

    

Pennsylvania gets online gaming this year. Prediction - No! The interest is there but the difference on the tax rate will morass the process. The budget for fiscal year 2015-16 will take center stage with taxation and educational expenses. Gaming will take a backseat.

 

 

California and New York will have online Poker. Prediction - No! Not enough support to sustain traction. They will revisit the issue in 2016 to beat a proposed federal ban.

Sports Betting will be approved outside of Nevada. Prediction - Yes. This is the year of acquising to popular opinion. A landmark Supreme Court ruling regarding marriage. The legalization of marijuana use for recreational and medicinal purposes is a further example of giving in to public demand and making a profit. Can you spell prohibition? Sports Betting is something that is accepted by the public and some of the professional sports leagues. Fantasy Sports wagering is just the precursor to allowing gambling on a live event. Once approved in New Jersey, Pennsylvania will lobby for it as well.

                           Share a comment if you choose. Have a wonderful Fourth of July!

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Poker or Fantasy Sports: Which one is the skill game?

Poker and Fantasy Sports are getting a lot of conversation. Both are receiving more consideration as games of skills and not chance. This interpretation makes both of them socially acceptable and widely popular. I decided to compare the two and give my assessment.

Poker has the statistics to determine probability of what may happen based on what cards you have. Stats in poker are constant and absolute. Psychology has a part to play, but a solid understanding of math and probability will increase your chances of winning. The hand and the chances of winning with it have a percentage that is comparable to the other players in the game. When watching shows like Poker Night in America , you are updated as what each poker player's chances are throughout.

Analytical variables are given to players in fantasy leagues that give them value based on past performance.  During the NFL playoffs, a prognosticator was giving predictions based on analytics related to the point spread. Variables in fantasy are subject to exponents that fall outside of the player's control. Weather, illness  and coaching decisions are things that can alter a fantasy player productivity. Think how many people wagered that Marshawn Lynch would score more than 1 touchdown during Super Bowl 49. We all know how that ended.

Poker is the true skill game of the two. I think that fantasy leagues will have a more diverse following that will include women. Poker is played predominately by males.  While there is a poker community that is established, there is not enough liquidity yet for it become profitable. Delaware Lottery reported a combine total of $600,000 for the year ending 2014. This number included casino and slot play. In 2014, several of the online gaming sites in Nevada and New Jersey shut down. Trump Taj Mahal just closed their poker room in Atlantic City. They anticipate reopening in the summer.

The acknowledgement of the professional leagues will build the support for more fantasy leagues. Fan Duel has commercials that air during ESPN telecasts.  DraftKings has added two more teams to its growing list of partnerships in the NBA . Shortly after announcing a deal with the Los Angeles Clippers, DraftKings has struck separate deals with the Sacramento Kings and the Golden State Warriors.  There is also a  Daily Fantasy Expo this year in Miami. The Expo will focus on management, technology and marketing for the fantasy sports industry. Since 2006, fantasy sports has grown from USD $1.6 billion industry to a USD $15 billion industry. It's meteoric rise is considered the tip of the iceberg, given the new dynamic of Daily Fantasy Sports.

Imagine That!

The upside for poker is it can be played for low limits in the online gaming world.  Borgata and Caesars  are two of the top poker sites in  New Jersey. 888  is one of the leading software providers. Many states are talking about the legalization of poker. We will see who enters the game in 2015

.

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