Top-ranked DFS player earns spots in DraftKings and FanDuel world championships

The summer’s marquee DFS baseball events got a little more competitive this weekend.

Maxdalury,” one of the top players in the industry, earned spots in DraftKings’ Fantasy Baseball World Championship and FanDuel’s World Fantasy Baseball Championship.

Each event features live finals in Las Vegas next month and $1 million top prizes.

Both of Sunday’s qualifying wins are the first for Max in these events, but he’s a mainstay in the money. Currently, he’s ranked No. 1 in the world on RotoGrinders.com’s overall rankings, Tournament Player of the Year rankings, MLB rankings and PGA rankings.

Leaning heavily on Angels and Lance Lynn on both sites, Max dominated the field Sunday and took three of the top four spots and four of the top six in the FanDuel qualifier. The qualifying wins were only part of Max’s big night; he also brought home $38,500 via three top-10 finishes in FanDuel’s Monster and DraftKings’ Perfect Game tournaments.

Could The Restoration of America’s Wire Act put an end to Nevada mobile betting?

Nevada’s sportsbook operators could become unintended victims if Congress decides to pass a proposed bill that seeks to revise, and perhaps restore, the Wire Act of 1961.

The bill, titled “The Restoration of America’s Wire Act,” states the following objective:

“(To) Amend provisions of the federal criminal code, commonly known as the Wire Act, to provide that the prohibition against transmission of wagering information shall apply to any bet or wager, or information assisting in the placing of any bet or wager (thus making such prohibition applicable to all types of gambling activities, including Internet gambling).”

The state of Nevada, with the help of technology and legislation, has made great progress in recent years by offering expanded betting options; not only with mobile sports betting, which began in 2011, but also with online poker, which became legal in late 2013.

Currently, William Hill, CG Technology, Station, South Point and Coast offer sports betting apps. MGM and Caesars recently announced plans to offer mobile betting, while Westgate SuperBook and Wynn are widely expected to follow their path in the months to come.

Joe Asher, William Hill’s CEO, told KNPR that the proposed bill threatens to deliver a devastating blow to a mobile market that he says represents 40 percent of his company’s handle.

“We don’t necessarily think it is the intent of the bill,” Asher told KNPR. “But perhaps an unintended consequence would be to limit, if not take away, our ability to offer mobile sports betting.”

It remains possible, of course, that the bill will be rewritten to offer protection to online betting and poker within Nevada.

Sportsbooks across the state have at least 3.9 billion reasons why they hope that’s the case.

Everything must go! Sportsbook furnishings among items up for sale at now-closed Riviera

Ever dream of having a Las Vegas style sportsbook in your basement?

Well, beginning today, it’s at least a possibility.

The Riviera Casino, which closed its doors for good on May 4, is selling off all its property—including items found in the sportsbook— starting at 9 a.m. The general public can attend the liquidation for $10 during the first four days, and the sale will continue until everything is gone.

Per NCL Sales, which has an exhaustive list of for-sale items, the following casino related furnishings are available for purchase:

Gaming Tables, Chairs & Stools, Slot Pedestals, Cashier Cage Equipment, Signage, Brass Railing, Flat Screens, Sports Book and much more.

While the Riviera wasn’t among the nicer sportsbooks on the Vegas Strip, it did modernize shortly after William Hill expanded into the US market in mid-2012. The chairs might be a bit musty (and smoky), and the TVs aren’t world-class. But at a likely discounted price, all of it can be yours if you want it.

Report: Vegas-based Caesars joins mobile trend, expected to release sports betting app

Will Caesars Entertainment become the next Las Vegas-based sportsbook operator to develop a mobile wagering app?

It appears so, according to Edge Vegas, who broke the news of the company’s plans in a Thursday post. The revelation comes three months after MGM Resorts announced plans to provide a mobile app by year’s end, and roughly a month after The Westgate hinted at a similar offering.

Caesars has yet to officially name its app (2Bet sportsbook is a possibility) or accompanying website.

There also is no scheduled launch date.

Here’s a few details from Caesars (via Edge Vegas):

We will also be launching www.2betsportsbook.com, a mobile betting app where anyone 21 years and older who is located in Nevada can bet on sports directly from their mobile devices (e.g., smartphones and tablets). Customers will be able to wager on in-play events happening in real-time, such as betting the spread, moneyline, and over/under, which update throughout the game. Customers will also be able to bet on a variety of markets that currently do not exist such as “the highest scoring quarter,” “will an individual player exceed a certain number of points scored,” and “which team will score a certain number of points first”, all in real-time while games are in-progress.

There are currently five sportsbook operators offering apps in Las Vegas: CG Technology, William Hill, Station, South Point and Coast. Of those five, only CG Technology and William Hill have a presence on the Strip, meaning the typical tourist staying on Las Vegas Boulevard has very limited options.

Caesars and MGM, which own a combined 18 Strip properties, would dramatically change that by offering apps.

It should be noted that professional and semi-professional bettors have roundly criticized most in-town apps, mainly William Hill and Station, because of lower-than-normal limits and a tendency to restrict or outright ban winning players.

How Baylor is shredding Vegas: Story behind the big bet that jolted the Bears’ BCS odds

A large bet on Baylor to win the national championship has forced one Vegas sportsbook to take drastic measures.

After beginning the season at 200-to-1, Baylor is now 6-to-1 to win the BCS title at the Las Vegas Hotel & Casino SuperBook.

The SuperBook took a big bet on Baylor at 75-to-1 in mid-September. SuperBook head oddsmaker Ed Salmons wouldn’t reveal the exact amount of the bet, but characterized it as “large enough to make us take notice.” It also forced him to slash the Bears’ odds drastically.

“It was a big bet. I don’t need any more Baylor money,” said Salmons, who opened the Bears at 300-to-1 to win the title in January.

The attention-grabbing bet was placed by a house player, a term for a high-roller who frequents the hotel and casino table games, but is not necessarily a sharp sports bettor. The SuperBook normally will take up to $50,000 in liability on a futures bet, but Salmons noted that they’ll extend those limits for house players. At 75-to-1, it doesn’t take much to expose the book.

“We don’t have a lot of tickets on (Baylor), but they are our biggest liability now,” Salmons admitted.

Other Vegas books have the Bears at higher odds to win the national title, but they’re all wary of Art Briles’ team.

Baylor has already done plenty of damage to the books. The Bears have covered the spread in 10 consecutive games, the longest such active streak in the nation. Twenty-three of their last 29 games have gone OVER the total. The books feel helpless.

“The bettors bet Baylor every week. It doesn’t matter what the spread is,” said Salmons, adding that he’s inflating the Bears’ lines every week. “Obviously, they’re inflated. If you break down the line on the West Virginia game (Baylor -30), Baylor is the highest power-rated team in the country. These teams that play in the no-huddle, especially against the weaker teams, you can take their spread and add 10. That’s how silly they are. And it doesn’t matter what you put on Baylor.”

On Sunday, prominent offshore sportsbook Bookmaker opened Baylor as a 10.5-point favorite at Kansas State. The line surged to Baylor -20, before moving back to the current line of minus-17.5.

As of Wednesday morning at the SuperBook, there had not been a single bet placed on the Wildcats plus the points.

“I know one thing: The computers think Baylor is a cross between the Denver Broncos and the Steelers of the 70s,” Salmons said. “One of my buddies has a computer that takes the teams’ scores and compares them. It ranks the teams on who you played and how you did. And it has Baylor No. 1. I know his system is used by a lot of the BCS.”

Salmons added that if Ohio State and Baylor played on a neutral field this weekend, he’d make the Bears 7.5-point favorites.

Baylor isn’t the only team shredding Vegas this season, though.

“Baylor’s been a thorn in my side, but Oregon’s been a bigger thorn,” said John Avello, executive director of the Wynn sportsbook.

The Ducks have covered the spread in seven consecutive games, including all four this season. Avello includes Clemson and Florida State into the group of teams that have been hard for the books to handle.

“If a team can score points, the public is going to bet them,” Avello said. “They aren’t going to worry about covering 28 or 35 points.

“There’s really been no surprises in college football,” Avello added. “The problem we’re having right now is it’s too predictable. Anytime it’s too predictable, it’s when we’re going to get hurt.

Avello mentioned that, if Baylor and Oregon were to meet in a bowl game, he’d make the total on the game an even 100.

Salmons agreed.

“I’m telling you, we’re not that far away from seeing a college football total of 100,” he said. “We’re getting closer.”

‘Hey, why won’t you cash my ticket?’ A list of Vegas sportsbook rules bettors should know

Nevada sportsbooks are required to post the house rules where patrons can see them.

At the Las Vegas Hotel & Casino SuperBook, the house rules are posted to the left of the betting counter on the wall that separates the buffet from the sportsbook. Bettors may ask for their own copy of the rules at the counter.

The six pages of rules cover everything from teaser odds to rain-shortened baseball games to suspended football games. Jay Kornegay, the LVH’s race and sportsbook director, says that almost all of them have come into play at some point.

One of the most controversial rulings came two years ago this week, when the final score of the USC-Utah game was changed after the game ended.

A quick refresher, courtesy of the LA Times:

The game ended with USC apparently winning, 17-14, and failing to cover the 8½-point spread.

But two hours after time expired at the Coliseum, the Pacific 12 Conference determined that there had been a miscommunication between field officials and the official scorer in the press box and that USC should have been credited with a game-ending touchdown, making the score 23-14.

During that two-hour window, the SuperBook paid out all tickets on Utah. Once the score was changed, they paid all USC tickets. It was a bookie’s nightmare.

“In that case, we viewed it as a corrected score, because the correction was recognized that day,” Kornegay said. “If it would have happened after the close of business, it would have been an overturn.”

The SuperBook does not recognize overturns or protested games. Had the change been made the next day or after the close of business, the final score for wagering purposes would have been 17-14.

Kornegay said he and his staff are constantly reviewing and tweaking the rules to make them clearer and to adapt to new situations as they arise. One such instance occurred in 2003, when a game between the Dolphins and host Chargers had to be relocated to Tempe, Ariz., due to wildfires. The SuperBook’s rules at the time required games to be played at the stated venue for action. Now, games must be played in the “same city or geographic area, but not restricted to a specific arena or stadium.”

“Unfortunately, a lot of people just don’t know the rules,” Kornegay said. “It’s kind of a buyer-beware situation, because you should know the rules that you are betting into. The point of our rules is to make it where it’s not subjective. We go by the rules. People always say, ‘You only did that because you were going to lose a ton.’ Of course, that’s not true. Whatever the rules are, that’s what we go by.”

If you’re one of those who doesn’t know the rules, here’s a brief primer on some of the most often misunderstood rules. Please note that while the majority of rules are consistent from book to book, others do vary. Next time you’re at a sportsbook, ask for a copy of the house rules. If nothing else, it makes for good toilet reading.

* * *

Rules Sports Bettors Should Know

FOOTBALL

  • Both NFL and college football games must go 55 minutes to be considered action.
  • If a game is stopped due to weather or other reasons before 55 minutes have been played, neither the side or total is considered action. This rule came into play in last year’s Florida State-Savannah State game. The game was stopped due to inclement weather in the third quarter with the heavily favored Seminoles leading 55-0. All bets were refunded.

BASKETBALL

  • Professional basketball games must last 43 minutes to be considered action.
  • College basketball games must go 35 minutes.
    • In 2011, a brawl between Cincinnati and Xavier forced the game to be called with 9.4 seconds remaining. Both the side and total were ruled as action.

BASEBALL

  • Major League Baseball games must go five innings (4.5 if home team is leading) before being deemed official.
    • If you bet on the Cubs to beat the Astros, and the game is rained out in the sixth inning with the Cubs on top, you win.
  • Baseball games must go a full nine innings (8.5 if the home team is leading) for run line and totals bets to be considered action.
    • For example, if you bet the Cubs run line and Over 8 and the game is rained out in the sixth inning with the Cubs leading 9-0, both bets are canceled.

OTHER SPORTS

  • Hockey games must last 55 minutes to be considered action.
  • In Motor Racing, the driver must start the race for action. Wager is on the driver only, not team or car.
  • In golf, the golfer must tee off to start the tournament for action.

TEASERS

  • Teaser ties equal refunds.
    • This is one of the rules that vary, but most shops will at least refund any teaser wagers in which one of the games ends in a push.
  • If a bettor places a three-team wager, wins two of the bets and the other one ends in a push, the teaser will be paid at odds of a two-team teaser.
    • At the Wynn, however, teaser bets that include a push are refunded. Executive director John Avello says that will change next year, after the book’s technology is updated.
  • At some shops, teaser bets that include a loss and a push also are graded as refunds. It’s particularly important to confirm the teaser rules and payouts at your book of choice.

GENERAL RULES

  • Overtime periods are counted in the final score for totals.
  • Overtime periods are included in second-half bets.
  • No refunds on futures wagers, unless otherwise specified.
  • Money-line parlays, like those in baseball, are calculated by multiplying the decimal equivalent for each team’s money line in the parlay by the amount wagered. Maximum payoff on any single money line parlay is 200/1.
  • Sportsbook tickets are honored for 120 days after the day of the event.
  • Many Vegas sportsbooks will not let you buy on or off the key number of 3 in football.
  • All bets are final. Once the ticket is printed, it’s an official bet. (Mistakes can be corrected at the window at book’s discretion.)
  • Reminder: Check your tickets before leaving the window!

Note: The majority of the above rules are directly from the SuperBook’s house rules. Please check your sportsbook’s rules carefully to avoid confusion. 

COMMON OFFSHORE RULES (Some apply in Vegas, too)

  • Wagers made against an obvious erroneous line, even if a result of human error, may be ruled no action or voided.
  • Correlated plays, those where one outcome directly affects another, are not allowed. (This is especially common when parlaying props.)
  • Football parlays involving a single game are permitted if the ratio between the side and total is greater than 3-to-1.
  • In golf futures and head-to-head matchups, wagers on golfers who do not tee off to begin the event will be graded “no action.” In matchups, if you bet on a player who tees off but withdraws mid-round, you’re out of luck. It will be ruled as action. (Call it the “Peter Hanson rule.”)
  • Dead heat rules apply in golf. (You should familiarize yourself with them.)
  • In tennis, a match has action once a ball is served at some books, while at others, a set or even two sets is required. All bets will remain pending until completion, regardless of delay, next-day completion, etc.
  • If games are canceled or suspended in Grand Salami wagers, the bet will be graded “no action.”

LVH SuperContest 2013: Record-setting field turns in one of the worst weeks imaginable

The biggest field in the history of the LVH’s NFL SuperContest put together one of the most forgettable collective performances the event has ever seen.

In Week 1, only three of 1,034 contest participants went a perfect 5-0, which is well below what you’d expect. As WagerMinds noted, a field this large would be expected to produce 32 perfect entries even if picking games at random.

Consensus plays went a combined 0-4-1 ATS, and the overall contest record was 1,766-2986, a win rate of just 37.2 percent. (Two people failed to submit their picks, which might be an even bigger failure.)

How’d our BettingTalk entry perform? Well, we mostly sucked.

Here was our Week 1 card: 

  • Chiefs -4 over Jaguars – WIN
  • Bengals +3 over Bears – PUSH
  • 49ers -4.5 over Packers – WIN
  • Giants +3.5 over Cowboys – LOSS
  • Texans -4 over Chargers – LOSS

For those interested in following along, we’ll try to provide our contest plays every Saturday evening or early Sunday morning. If you have an easy winner you’d like to share, email us at [email protected].

We’ll need all the help we can get.

Has Cantor Gaming changed? Sportsbook has its critics, but Billy Walters remains a supporter

Cantor Gaming, Las Vegas’s most controversial sportsbook operator, is under investigation by Nevada Gaming Control and under fire from bettors over the company’s seemingly changing philosophies.

But the biggest bettor of them all, mega-Vegas pro Billy Walters, adamantly supports Cantor.

“Cantor Gaming is one of the few bright spots from the sports betting standpoint that a bettor has,” Walters said. “They better pray that Cantor Gaming doesn’t go away.”

A branch of the financial company Cantor Fitzgerald, L.P., Cantor Gaming arrived in Nevada in 2006 with plenty of bravado, publicly stating that it would take any size bet from anyone. It strived to create a bettor-friendly atmosphere at its books and was innovative, becoming one of the first in Nevada to offer mobile and account wagering.

“At Cantor, you can actually do business the way people are doing business in the 21st century,” said Walters, a wealthy Las Vegas businessman who has risen to the top of the sports betting industry over the last 30 years. “You don’t have to carry cash or stand in a long line.”

Upon arrival, the biggest bettors in Vegas flocked to Cantor’s hub, The M Resort, an off-Strip book that catered to the sharp players that other books were often reluctant to deal with. There was buzz coming out of The M about million-dollar bets being placed by high-profile customers like boxing champion Floyd Mayweather.

Things changed in October.

Former Cantor Gaming Vice President of Risk Mike Colbert, one of 25 people nationwide named in a federal indictment, was arrested on various charges and was terminated shortly after. (Colbert has pleaded not guilty, and his legal case continues to play out in a New York court.)

Nevada Gaming Control has been investigating whether Cantor Gaming had knowledge of Colbert’s alleged missteps for more than a year—an investigation that could be wrapped up in the months ahead.

“Whatever issues Cantor Gaming has, I’m really pulling for them to get those resolved,” Walters said. “And I believe whatever issues they have, I think they’re isolated. I certainly don’t think it extends past maybe one individual. I don’t think it extends to the organization.”

Walters says he hasn’t noticed any changes with how Cantor operates. When asked if his limits have been impacted since the indictment, he scoffed, “Shit, no.”

But other serious bettors, albeit of lesser stature than Walters, have seen changes. Their limits have been reduced. One bettor claims to have been banned from two Cantor books after a recent winning streak.

Sal Albert has been betting seriously with Cantor Gaming for two years. When he first started, he says he was told there were no limits. He regularly bet a few thousand up to $15,000 on mainly college football and basketball and never had any issues.

Suddenly, in late October, around the same time of Colbert’s arrest, Albert was informed that he could only place a maximum of $1,000 per wager. Shortly after, Albert says he was banned from playing at The M altogether. He moved over to another Cantor book, the Hard Rock, went on a winning streak during the NBA playoffs and was cut off there, as well, he says.

“Before Colbert got popped, I had no issue placing any wager at Cantor,” Albert said. “It’s much different now. I don’t know if it was that specific event that changed their philosophy in terms of catering to sports bettors or if it was a bottom-line issue. But they were an option that was unlike any other option in town at that time. Not anymore.”

Cantor recently eliminated some of the types of wagers it will accept. For example, parlay bets on UFC fights are no longer allowed, a Cantor employee confirmed.

William Burton, another established bettor, began traveling to Las Vegas to bet on UFC fights a few years ago. He had been stiffed out of $30,000 by an offshore sportsbook and craved the security Vegas books provide in terms of payment.

Burton said Cantor in 2011 would take $12,000 bets on a UFC card. When he visited in August, he was limited to only $2,000 and was told he needed to have an account to get that amount.

“They are math guys now, not bookmakers. A manager even told me that they might take (UFC) off altogether, the way things are going,” Burton said. “Another manager said the risk team is different now. They don’t take the kinds of wagers that they used to.”

Burton said his return on investment from his earlier trips to Vegas compared to his most recent visit has been reduced by more than 60 percent. He provided betting records as proof.

“I’m done with Vegas, because of this stuff,” Burton said. “They’re almost forcing you to play offshore.”

While Walters isn’t happy with the state of sports betting in Las Vegas, he says Cantor Gaming’s books are still the best in town for big players.

“As far as taking a decent bet and consistency, Cantor Gaming is actually the most stable company that I’ve ever done business with in sports,” Walters said. “There are really only two places in Las Vegas to play, if you’re a bettor of any substance—Cantor and MGM Mirage. There is no place else. People better pray that more people like Cantor come along in Vegas, because if the options get much more limited than they already are … well … it’s a joke.”

Cantor Gaming, which operates books at The M, Cosmopolitan, Hard Rock, Palms, Silverton, Tropicana and Venetian, declined to comment on this story.

Billy Walters sounds off: ‘Sports betting in Las Vegas is at an all-time, all-time low’

Billy Walters, America’s biggest and most well-known sports bettor, is frustrated and fired up.

Football season is here, and he’s absolutely disgusted with the state of sports betting in Nevada.

“Sports betting in Las Vegas is at an all-time, all-time low,” said Walters, a wealthy Las Vegas businessman considered by many to be the most successful sports bettor ever. “It’s a joke. A sad joke.”

A Kentucky native, Walters first arrived in Las Vegas in the early 1980s. He estimates there were 40 sportsbooks competing for business back then. Some books offered better odds than their competitors. Others had superior customer service, shorter lines and friendlier staffs. In short, bettors had options.

That’s changed, he said, as Vegas has consolidated.

Approximately 10 companies run all the sportsbooks in Las Vegas. Only a handful offer Internet wagering. And even fewer will take a big enough bet to make it worth Walters’ while, he says.

“Today in Las Vegas, I can bet about 20 percent of what I used to be able to bet,” Walters explained in a Wednesday phone interview. “College football totals are a good example. You can bet more money on them with one sportsbook outside of Nevada than you can at all of the sportsbooks in Nevada combined.

“Now, if you’re a hundred-dollar bettor or a nickel bettor or if you’re a stone sucker and give your money away all the time, maybe you won’t even notice the difference,” he added. “But I can tell you, if you live in Las Vegas, you’ll notice the difference. “

Walters says you can really see the lack of competition in the Vegas futures markets, like the odds to win the Super Bowl.

“To be honest with you, if you compare the futures odds at any casino in Las Vegas, they’re not close to what’s being offered in Europe or what’s being offered offshore,” Walters said. “Many times they’re 20 to 25 percent higher in the UK or offshore, but they get away with it in Las Vegas because they have a monopoly. We don’t make many futures bets here anymore.”

The lack of mobile and Internet wagering at most shops is a bigger issue, says Walters. Long lines and poor customer service, including grumpy ticket writers, add to his frustration with the entire process of placing a bet.

“If you want to bet in Las Vegas, you have to go stand in a line; you have to put up cash or have chips, and the only way you can get chips is with cash, and you have to give an ID and fill out CTRs, which most people don’t have a problem with that,” Walters said. “Or you can sit in the comfortof your home, you can bet over the telephone or over the Internet. In many cases, lay -105 instead of 11-to-10 and you can do it 24/7 in the comfort of your home. If you’re in L.A., why would you get on an airplane and come to Las Vegas to bet sports on the weekend?”

The obvious reason, as Walters concedes himself, is the guarantee of getting paid.

“Clearly, there’s a lot of guys offshore who won’t pay you. There’s that consideration,” Walters said. “You have to know who you’re dealing with. That’s something you have to factor into the equation. The majority of the major guys offshore, I don’t know of anyone they ever stiffed.”

Another positive about betting sports professionally in Las Vegas, according to Walters? The presence of Cantor Gaming, his preferred Nevada sportsbook.

We’ll have more on this tomorrow.

The SLS Hotel & Casino, slated for Fall 2014 opening, will feature a William Hill sportsbook

The Las Vegas Strip’s first new casino in three years will feature a William Hill-operated sportsbook, the company announced early Thursday.

The sbe-owned SLS Hotel & Casino, located at the old Sahara on Las Vegas Blvd., is planning to open sometime next Fall. The announcement caps off a big week for William Hill, which rolled out an updated version of its mobile betting app on Wednesday.

“We are delighted to be partnering with sbe as they create a new Strip experience with SLS Las Vegas,” said Joe Asher, CEO of William Hill US. “As we move toward opening next year, we look forward to working with them to create a world-class sports book environment.”

William Hill currently has 12 sportsbooks scattered throughout Las Vegas, with most of them found downtown at places like The D, Binion’s and the Plaza. Before adding the SLS to its roster, the only Strip location was at The Riviera.

According to a release, the sportsbook will feature an expansive HD video wall and plans to offer in-running wagering on several games.

Construction at the SLS is already underway.