Tag Archives: sports betting

Super Bowl Betting the Largest Total Ever

Most Super Bowl betting experts predict this year’s Super Bowl to be the biggest in terms of overall traffic and amount of bets placed at the online sportsbooks and in Las Vegas.  

A Las Vegas bookmaker makes the Indianapolis Colts an early four-point favorite to beat the New Orleans Saints in the 2010 Super Bowl and the bookies (both in Las Vegas and online) pushed the line up to -5 ½.  Sportsbetting.com and a few others have moved the line up to Colts -6. 

Sean Van Patten of Las Vegas Sports Consultants recently told the AP that the Colts’ experience on the NFL’s biggest stage (they won Super Bowl XLI three years ago) helped them take the decided edge. 

The total in this Super Bowl, with a number that has remained steady for the most part, is 56 ½, being the highest total ever posted. 

“In the Super Bowl, most people don’t mind if the defense doesn’t show up as much,” Jay Rood, director of the MGM Mirage’s Race and Sports Book in Las Vegas, said in a telephone interview last week with Bloomberg News Friday. “For the most part they like to see a track meet back and forth. This one could deliver.” 

John Avello, the race and sports book director at the Wynn Las Vegas, said he can envision several scenarios that would keep this year’s game from being a high-scoring contest. 

“For the most part I’d believe that the weather will cooperate, but there’s always the chance it won’t,” said Avello, noting that both clubs played their first two playoff games in domed stadiums. “Second, the Colts’ defense is a lot better than people anticipate and the Saints’ defense showed they can get to the quarterback. This game may not be quite the shootout that’s anticipated.” 

“This is clearly the highest total for a Super Bowl we’ve ever had,” said Jay Kornegay, executive director of the Hilton Race and Sports Book. “People like to bet on offense and it’s shaping up to be an offensive game.” 

Despite the high number, nearly 75 percent of those betting the total were still backing the OVER heading going into the contest.

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The Venetian in Las Vegas Adds Aresenal of Pocketcasino Games

More than offering just pocketcasino sports wagering, which Cantor Gaming launched at The Venetian last September, Cantor Gaming, an affiliate of the global financial services firm Cantor Fitzgerald, has announced yesterday that their pocketcasino (only available on the Las Vegas Strip at The Venetian and The Palazzo), is now offering casino style games in addition to in-running sports wagering incuding traditional casino games such as blackjack, video poker and slots.  

Included in the new choice of casino games are innovative games including XtraOdds Blackjack and XtraOdds Baccarat. These games offer extra propositional bets that dynamically calculate odds based on the cards dealt, giving an extra opportunity to press or hedge your bets.  

Pocketcasino gaming promises a dramatic increase to business revenues while allowing casino patrons to multi-task and gamble like never before, including allowing patrons the ability to play casino style games while roaming throughout the high limit slot salon, Grazie gold lounge, race & sports book, and designated public areas currently including  bars, lounges and restaurants at The Venetian and The Palazzo in Las Vegas.

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March Madness Translates into Las Vegas Happiness?

It used to be that the Super Bowl was the zenith of all sporting events for Las Vegas marchmadnesssportsbooks.  However this winter’s celebration of the professional athlete is finding a fierce challenger in the March playoff celebration of collegiate basketball. 

Over the last 20 years there has been a steady increase in the number of visitors booking rooms in Las Vegas during March Madness.  In 2008, February basketball betting was $116.7 million compared to $238.9 million in March, more than doubling the money wagered in Nevada casinos.   

Will this trend continue this year?  Can March Madness help boost the Vegas economy yet one more time? 

The answer for right now seems to be – yes and a guarded yes.  Major Las Vegas sports books at Caesars, Mirage and the Hilton reported late last week that more men than last year showed up for the start of March Madness, while taking the time to lounge in comfy chairs, and more importantly for the Las Vegas economy, drink and eat. 

Though this year’s Las Vegas sports books are taking in a greater number of bets, both men and women are betting fewer dollars per wager- so far.  

“I’m pleasantly surprised in light of the economy,” said a beaming Jim Pedulla, director of Caesars’ race and sports book.  He arrived to work last Thursday and had to immediately find an extra 160 seats for the more than 1,000 people who packed his book by 5:30 a.m. 

While great hotel and restaurant deals in Las Vegas are abundantly available both on and off the Strip, all the Las Vegas hotel sports books are definitely bustling with the brisk post-St. Patrick Day-pre-Spring Break-currently-celebrating March Madness crowds. 

Will this bristling activity be eventually translated into happy – not maddening – Las Vegas revenues?

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