Tag: GamblingView All Tags
Vegas For Beginners / MLB / Baseball / Gambling / Sportsbooks / → All Tags
MLB Spring Training is underway and professional baseball games are on the board and available to bet at sportsbooks. The two most popular sports to bet on, football and basketball, are most often bet using point spreads. Baseball is the third most popular sport for bets and that's possibly because people are simply confused about how to do so. Most bets on baseball use a money line where you just have to pick a winner. The money line can be intimidating because just about every game is different, but it's really quite simple.
The money line is based on bets of $100. For example, +200 means you will win $200 on a $100 bet. On the other hand, if the money line is -200, you must bet $200 to win $100. It’s always easiest way to explain money line betting with an example:
Video Poker / Royal Flush / Gambling / Odds / → All Tags
When we play video poker, we all want the Royal Flush. The Royal Flush in video poker pays exponentially more than any other hand. It’s possible to win in the short term without getting a Royal Flush, but those extra credits go a long way to making us happy.
To non-video poker players, all the games look the same but they aren’t. Payouts are different, giving each game different odds and volatility. The Royal Flush may pay the same 4,000 credits in most games, but it may not come up as frequently from one game to another. Each video poker game has a different Royal Flush cycle meaning you’ll only see a Royal Flush every so often. Here’s a look at the breakdown:
Vegas For Beginners / Players Clubs / Vegas Observations / Survival Strategies / Gambling / Casinos / Tips / → All Tags
We all know that players clubs don’t exist only as a vehicle to give us freebies and discounts. They’re marketing tools that casinos use with much more diligence than you may realize. Rewarding casino customers for their loyalty makes plenty sense, but there’s a rhyme and reason behind every single offering. Casinos look at players clubs as a way to reinvest in their most loyal customers. Casino executives call this “Player Reinvestment” since rewards have historically been based solely on gaming revenue.
What might surprise you is how much casinos value customers. Casinos spend anywhere from 20%-40% of tracked gaming revenue on player reinvestment. As you might imagine, that money isn’t spread equally among customers. The more money a customer brings into the casino, the more the casino will invest in making that person return.
March Madness / College Basketball / Gambling / MGM Grand / The Orleans / Orleans Arena / Thomas And Mack Center / → All Tags
Before the field of 68 is revealed for March Madness, 32 teams will earn their conferences' automatic bids for the NCAA College Basketball Tournament. Four of those March Madness bids will be given out here.
Four conference tournaments will take place in Las Vegas and there will be dozens of live college basketball games over nine days. Unlike most college basketball tournaments, you can bet on the games you're watching. Since the majority of the games take place at The Orleans and MGM Grand you can even walk to the sportsbook from the arena in between games to make some bets.
*The West Coast Conference tournament will take place at The Orleans Arena March 6-11.
*The Pac 12 Conference tournament will take place at MGM Grand March 12-15.
*The Mountain West Conference tournament will take place at the Thomas & Mack Center March 12-15.
*The Western Athletic Conference tournament will take place at The Orleans Arena March 13-15.
Vegas Facts / Blackjack / 3 Card Poker / Baccarat / Sports Betting / Downtown Vegas / Downtown / Gambling / The Strip / → All Tags
It’s no secret we love seeing new data on both gambling and Las Vegas. When you put the two together there’s something magical. The UNLV Center for Gaming Research recently released a paper detailing data from 2013 about gaming win, hold percentage, and handle (total amount bet) for casinos on the Vegas Strip. What’s most interesting isn’t the amounts bet or which games people played most, but how often casinos actually won from players. Each game has a built-in house edge so, theoretically, that’s how much the casino should win. Unfortunately, for the majority of gamblers that’s not the case in a big way.
Casinos won 33.03% of the money wagered in 3 Card Poker. Depending on the casino played, rules and bets made the house edge for 3 Card Poker somewhere between 4% and 7%. This is a big disparity. On the other side of the fence, casinos only win 11.36% of the money played in blackjack. This includes all types of blackjack games (blackjack switch), side bets (lucky ladies) and rules (6:5 for blackjack). Casinos still win less from blackjack than most other games.
The Cosmopolitan / Drinking / Gambling / Blackjack / Video Poker / Bond / Vegas Changes / → All Tags
There was a day where it could be said that the Cosmopolitan didn’t get gamblers. It may be still be true that they don’t get gamblers, but it’s no secret the Cosmo has been trying to acquire gamblers. Over the past year, they’ve been making small tweaks to their casino marketing to draw in more gamblers to supplement their bottom line. One of the more drastic changes to the casino is with Bond Bar.
The Cosmo has copious bars throughout the property making it a favorite place for many to stop, relax and grab a drink. However, gamblers (like this guy) would drop $10 for a drink and head to a casino elsewhere. That’s no longer necessary as Bond has gone from being just a loud Strip-side bar to being a loud Strip-side bar with video poker and table games.
The Winter Olympics start today. Excitement runs high for the games as we get to see sports like bobsledding and ski-jumping on television. And, while you might see them on in the sportsbook if it’s a slow night, you won’t be able to bet on the action. <sad trombone>
Las Vegas sportsbooks aren’t allowed to take wagers on amateur sports besides your typical college sports like football or basketball. This goes back to the early 2000s when there was an attempt to outlaw college sports betting in Nevada. In order to compromise, state officials proposed to ban “other” forms of amateur sports.
A lot of ideas to make gambling easier for the customer are run up the flagpole with the Nevada Gaming Commission (NGC). Some are approved, but most aren’t. A controversial idea and regulation change was just pitched. A company called Sightline is proposing the use of prepaid gaming cards that would be used in slot (and video poker) machines. The idea is that these prepaid cards would be akin to prepaid gift cards. Their use would also be similar to casino players club cards that could be loaded at banks and then used at slot machines to insert and withdraw money.
Gaming regulators have always set barriers between personal bank accounts and slot machines. Since gambling can be addictive, this separation exists so that gamblers couldn't easily drain their bank accounts. ATMs are allowed in casinos, in part, because they have daily limits and don’t directly connect gambling with personal bank accounts.
Football / NFL / Big Game / William Hill / Prop Bets / Gambling / Betting / Sportsbooks / Super Bowl / → All Tags
Betting on the
Super Bowl Big Game has grown almost every year over the past decade for two reasons. Obviously, the increased popularity of the game is a major reason for general growth of the sports, but prop bets (prop is short for proposition) have become more popular every year.
When William “Refrigerator” Perry scored a touchdown for the Chicago Bears in Super Bowl XX it woke gamblers up to the potential for big wins with prop bets when he cashed a 20-1 prop bet for some people. Prop bets have become so popular that there are now around 400 prop bets at most sportsbooks for the Big Game. Almost half of the money wagered will be on prop bets. That’s serious.
The prop bets you can make with sportsbooks in Las Vegas are based on the action on the field. The
silly fun prop bets, like “what color gatorade will be poured on the winning coach?,” are only available online. Those aren't legal in Nevada. The point spread and total were released over a week ago but, as you'd imagine, it takes some time to come up with another 400 prop bets so it took some time for them to be released. They're out now and we're ready to get down! Let’s take a look at a few of the legit prop bets that the William Hill sportsbooks made available on Friday.
TV shows about Vegas or gambling? Sign us up! The new Esquire Network just debuted a TV show about the latter called “Horseplayers”. The series takes us inside the world of horse betting. Besides profiling the life of people that bet on the ponies, “Horseplayers” reveals their betting strategy while featuring beautiful video of different horse tracks. The show's characters seem to be stereotypes of horse bettors. These stereotypes are real and exist for a reason. You can see snippets of the series below and even more here.
Much of the show is filmed on location at race tracks across the country, but as it evolves, you’ll see Las Vegas enter the picture. In fact, the series will be recording scenes for a future episode at Treasure Island January 24-26 when TI hosts the annual National Thoroughbred Racing Association’s National Handicapping Championship (NHC). The NHC is the culmination of a year-long series of NTRA-sanctioned tournaments conducted by racetracks, casino racebooks, off-track betting facilities and horse racing and handicapping websites, each of which sends its top qualifiers to the national finals.
Spending on the Vegas Strip has changed over the past 20 or so years. Visitors are spending more on non-gaming every year. It only took 20 years for casino operators to fully understand this and build more places to eat, drink and shop. We saw this last week when reviewing how Vegas Strip casinos are making and lose money.
This isn't the Vegas that many of us grew up loving. The allure of Vegas was, in part, because of its gambling. Gamblers didn't die out, they just got older and relocated. The gambler in Vegas has been slowly moving away from the Vegas Strip to Downtown Vegas.
Drinking / Gambling / Bars / Casinos / → All Tags
It was on the second night of this four-day vacation at around 2 a.m. when I found my new brown baby at Planet Hollywood. Her name is Macallan.
Enjoying an alcoholic beverage in a casino is a must for many. Some will grab a drink before waiting in the check-in line. It’s a good excuse to yell VEGAS, BABY! Others will wait until they sit down to gamble to enjoy a “free” drink. We know those drinks aren’t free because we’ve already added to the casino's coffers so why not have one? This writer has always enjoyed a little of both. Drink at check-in? Check. Drink at blackjack? Check. Drink in a lounge? Check. I’ll pay for a drink and relax, party or gamble. It doesn’t quite matter. It’s Vegas (baby)!
Almost every year since turning 21, I’ve come to Las Vegas in December with my dudes. We usually rage until our bodies force us to stop. The end of the night used to be 24-26 hours after it first began. As we got older, the end of the night became a little earlier. Six am steak and eggs at Grand Lux at Venetian has turned into late-night secret pizza at the Cosmopolitan. Not bad, but not the same. With age has also come a curiosity to try new, more “adult” drinks. On this last trip, I tried sampling the brown boozes. This is a big step for a vodka and beer drinker.