Posted: 10/20/2012 5:16:50 PM
Originally Posted by petek
1) This is an instant for the sportsbooks at the genesis of this idea. When will a sportsbook take an offer that doesn't match? Easy.
Example: Sportsbook X is up for the day entering the last game of the night. They're so heavy on one side of the game that a loss takes away most to all of their day's profits. The director decides to take his win and run. The director will balance the action despite the juice difference and take away the decision making. At most he loses a sparse amount on that juice difference but comes out big for the day.
2) Reduced juice is only one aspect of a betting line. Maybe everyone is at -3 and you want -2 1/2 at whatever juice. That's now a possibility. And now, this will be legal for Nevada residents and visitors. The options you listed are not legal in Nevada.
3) Books won't have knowledge of who's putting up the offer. Likewise, the bettor won't know who matched theirs. Hence, no profiling! Matched offers are by need, nothing else. Totally unbiased.
Matching bets now comes from two venues for the sportsbooks allowing plenty of more action. If someone comes up to the counter and wants to place a wager above their normal limits, the SB can now look at this additional pool of wagers and can take the wager over the counter and match it through the VPN.
SB's in Nevada will more likely take a large football wager at the beginning of the week where they can work to balance that action over the entire week. When a whale comes to town and wants to plunk a big wager 30 minutes before kickoff, the SB can immediately look to see if they can match this and not risk an entire day on one wager so late in the week. Options like this are great for the books and allow bettors what they want.
Cantor Gaming, upon their arrival in Nevada spoke of increasing volume and settling for smaller holds so I beg to differ on that. More handle will increase profits at a lesser hold percentage. No one has a problem with that here.
With all due respect - you totally avoided the issues.
1. You give one example of why a SB might want to take more action. But lets take the other 99% of the time. If I put a 100K offer up on Wed for the current line at -105, NOBODY is going to touch it. If I put up a 100K offer 2 hours before gametime, and no book has an inbalance that would be favorable for them to take it - NOBODY is going to take it.
The ONLY scenario that would benefit the bettor putting out the offer is if a book happens to have an inbalance - and even in that case - doesnt it stand to reason that that book would lay that off by themselves? In other words - if your platform only allows books to accept the offers - then why would they wait for a gambler to hopefully put out an offer, when they could put out the offer themselves?
It doesnt make sense.
2. Seriously? Your answer is that someone wants to buy or sell points and your platform will allow them to do that? Come on. That is such a stretch. So now your platforms market is buyers and sellers of points? And you mean to tell me that SB's are going to somehow accept any offer that is not in line with their current buying and selling of points? Sorry, I dont get this at all.
3. So I understand, books wont know what account is putting up the offer? That will be opaque? You are going to have a serious trust issue with gamblers if this is the case - they arent going to believe you no matter what you tell them.
Sounds to me like what you are building here should already exist. It sure sounds to me like a trading platform amongst SB's so they can lay off their business - between each other. If this doesnt currently exist, and you are providing this service - that sounds fine. But I still have yet to understand what you are offering the GAMBLER.
What is it exactly? Who is your demographic? If I am an above Vegas limit gambler - based on what I have written in this thread - what can you offer me?
Cantor gaming has been the most progressive in vegas. But talk is cheap. You can talk about legality all you want - the simple truth is that anyone who bets anywhere near vegas limits is betting offfshore too. And if they are already betting offshore, they can get what you are offering easier and with more reliability already.