Just an interesting note

When I was in Vegas yesterday, I noticed that the Celtics game wasn't on the board at Caesars. I asked the front desk and they said that their CEO has interest in that team so they don't draw lines... in 2008 did they not draw lines for the NBA finals? Seems like a pretty big loss of money. I mean why anyone would watch a game there in the first place when you have the Bellagio next door is ridiculous, but yeah I wouldn't be surprised if they made an exception for the finals game.

The money that a casino makes on sports bet is very modest, average is $4900 per day for a strip casino. Although Ceasars may make several times that amount it is not worth the risk of the Gaming Commission shutting down the casino for a single day because of a rules violation. Small casinos think of sports bet as a loss leader to get people into the casino.

I know two people who every three years on the average will travel to Vegas for Superbowl Sunday. I've no idea where they stay, but I'm fairly confident it's at a high-end strip hotel. Of course they're objective is to watch the game and place some bets on it. Now imagine if the place they stay at won't post lines because the CEO has ties to one of the teams. They'll go elsewhere next time.

Point is Vegas hotels, whether they make money off sports books or just use them to lure people in, shoulnd't get involved in sports ownership.

I agree, I mean I ended out losing a few hundred at the bellagio while waiting for the games to start/end. Given my small bankroll, that is a lot of money. I think to analyze a situation like this you also have to account for the extra gaming revenue taken in by people throwing down a few sports bets. Also on this, since the bellagio offers free drinks and amazing seats I will never make a bet at caesars again. Its a small thing, but affects a lot.

Quote: Nareed

I know two people who every three years on the average will travel to Vegas for Superbowl Sunday. I've no idea where they stay, but I'm fairly confident it's at a high-end strip hotel. Of course they're objective is to watch the game and place some bets on it. Now imagine if the place they stay at won't post lines because the CEO has ties to one of the teams. They'll go elsewhere next time.

Point is Vegas hotels, whether they make money off sports books or just use them to lure people in, shoulnd't get involved in sports ownership.

You'd think that, but examine the Palms.

At the same time that they have the ultimate basketball fan suite, they are part owners of the Lakers, and therefore do not take any basketball action.

Go figure.

Quote: DJTeddyBear

You'd think that, but examine the Palms.

At the same time that they have the ultimate basketball fan suite, they are part owners of the Lakers, and therefore do not take any basketball action.

Go figure.

Good point. Perhaps the fantasy suites don't appeal to gamblers (in Vegas? Please!) More likely the sports book is such a minor part of business they just don't care.

BTW does the Palms not take any basketball action or do they just forego pro basketball? I hear college sports get as much action as pro sports, and that the college basketball championships in particular draw more bets than anything except the Superbowl.

Quote: DJTeddyBear

You'd think that, but examine the Palms.

At the same time that they have the ultimate basketball fan suite, they are part owners of the Lakers, and therefore do not take any basketball action.

Go figure.

The Maloof family, majority owners of the Palms, also own the Sacramento Kings organization, not the Lakers.

They used to accept no wagers on NBA games, but now I believe they refuse wagers only on games involving the Kings.

I stand corrected - on both points.

A similar situation exist(ed) at Golden Nugget. The owner is (was?) a part owner of the Houston Texans. Therefore any wagers involving the Texans were not accepted, including futures. I believe that the family was in the process of selling their interest in the team, however, which would allow wagers on my beloved Texans at the Nugget.