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Author: [Gaming Industry - US] Topic: New form of sports wagering coming to Nevada
chichisteve send a private message View Space | Friends | Playbook |
chichisteve
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#76
Posted: 11/7/2012 11:25:43 PM
I live in Nevada.  I stop by the sports book in Jackpot ,Nevada at Cactus Petes.  I go to the sports book that used to be Cal-Neva and it has changed names to William Hill.  There is a big digital sign that says basically wager anytime on your phone.  I ask about the details and the lady says she is not really sure but this is the web site she gave me.....www.williamhill.us.com .  She says you sign up there..  I go to the site tonight and it sure looks like a exchange type deal to me.  Have not signed up but I am very curious and trying to get more information...
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bigvern1013
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#77
Posted: 11/8/2012 5:17:16 PM

Had a few big winning nights in Jackpot over the years. A big one was when Boise St beat TCU in the BCS game, I am not sure of the exact year....2009ish.

The entire casino at Cactus Pete's was full of Boise fans whom had bet on the game; they had brought in projectors and were showing the game on big screens.....so when the final gun sounded Cactus Pete's had closed their sportsbook.  Everyone in the place had bet on Boise +6 and Moneyline, so they redirected the payouts to the main cage.  I remember hearing one of the cashiers say to the boss that there wasn't enough cash on hand to payout all of the bets....so winning tickets had to wait about an hour to cash in while they hit up the vault for the $$$.

I figured that it was a ploy to get  people to hit the tables for awhile and lose some of thier  winnings.... but, management did cough up some drink vouchers for the inconvenience.

For a tiny town in Northern Nevada, I have never had a bad time in Jackpot.

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JOHNPENDRED send a private message View Space | Friends | Playbook |
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#78
Posted: 11/11/2012 9:35:10 PM
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chichisteve send a private message View Space | Friends | Playbook |
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#79
Posted: 11/15/2012 11:08:59 PM
I have poked around the site put still could not really figure it out as far as how it would work...Anyone else have any details that have checked out the site?
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#80
Posted: 12/12/2012 11:38:23 AM

OK. I did some research. I actually got a hold of the guy who has the patent on person-to-person exchange wagering. For one reason or another, he doesn't want anything to do with anyone.

Fortunately upon further review, I found out that his patent is useless in the United States as person-to-person exchange wagering is deemed illegal by Gaming Control Statutes and Regulations.

Why? Because in effect, when an individual accepts an offer, he/she is in fact "booking" the action. And unless that individual has proper licensing, that's not going to fly.

So I am glad my patent is targeted the way it is. The only one who can accept an offer is a legal, licensed sportsbook. It makes sense.

BTW, the project is done and we'll be handing the entire project over to the Gaming Control Board by the end of the calendar year.

Pete

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#81
Posted: 12/13/2012 5:13:17 PM
Pete- When you give it to the Gaming Control Board, who is going to read it to them?
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#82
Posted: 12/16/2012 10:15:20 AM

When we hand it in, they'll have an entire manual to lead them through the process A to Z. It goes through an investigative period (to approve the security) and an enforcement period (to approve that this type of transaction is legal) before we can be approved.

Pete

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#83
Posted: 12/16/2012 11:09:53 AM

Pete- You sound like a pretty smart guy but your idea is never going to happen. It's not even going to get a chance to happen. You're pitching this idea to an agency that is one of two reasons Nevada is in the dark ages when it comes to sports betting. The Nevada Gaming Control Board doesn't know the first thing about sports betting. It's run by accountants who've never made a bet in their lives.

The state and the sportsbooks love things just the way they are. Put up generic lines and keep the parlay cards well stocked and at the end of the year, they'll always make money. Since I got here in the mid eighties, the only major change in betting has been on the horseracing side when the casinos went to parimutual wagering. They love that because it took all the risk out of booking horses and now they have a guaranteed win.

Even if they approve your idea, the sportsbooks don't want anything to do with it because implementing and running it would require effort and brains. That's two things sportsbook directors don't have. 99.9% of the bettors would never be able to figure it out anyway.

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#84
Posted: 1/29/2013 12:41:07 PM
Sounds like this is only meant to benefit the casinos/sportsbooks - and the person trying to sell it to them.
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