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Author: [Las Vegas] Topic: Moving to Vegas...Would appreciate some info
7Up7Down send a private message View Space | Friends | Playbook |
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#1
Posted: 5/17/2011 9:28:23 PM
After pondering this for several years, I am planning a move to Las Vegas in August to start a career as a pro sports bettor and I would really appreciate any help with some answers to these questions from anyone who might be able to answer them. Sorry if they are novice but will be really helpful for me for anyone who has the time to answer them, and it's much appreciated. I also realize there are some that say why do you have to move here, online books are better, etc.. and I respect those opinions but I am moving regardless so while having online accounts is something I do and will keep, im not looking for if I should or if I shouldnt. 1) I would like to spread my money into different sportsbooks so I can obviously shop for the best lines. What is the process of opening an account at one, i.e. do they give you a number and can you just bet without having to pass cash back and forth as long as you have enough money in it? 2) Following up question #1, what books allow you to phone in bets? Obviously for football, it's easier to get down to the strip, but for things like basketball where you are betting every night, or even playing halftime lines in football on Saturdays and Sundays, as a Nevada resident can you for example call in your bets at somewhere like the Bellagio or do you pretty much have to place the bets in person? 3) What are the limits on sides and totals at most places? It seems like the M will allow you to bet whatever you want. Is that different than most places where the limits are fixed? 4) Are their any tax implications to worry about. I know that I am responsible for self reporting, but let's say I open an account up for 50K and cash it out at 150K later in the year, does that casino report it if I take out the 100K? And is it wise to save your losing tickets as well for IRS reporting purposes, or if you are betting on an account, get a printout monthly for your losses? 5) I know the comps for sports bettors aren't like they are for casino gaming, slots, etc...but is it worth doing it or are their any particular books that have good comps programs for sports betting? Or is it better to just keep your anonymity? 6) What is the best place to live at? I am leaning toward renting a house where I can have a nice office with a significant multi TV setup. That kind of rules out a high rise that would be on the strip so what are the best areas in terms of location to look for something in the 1k-2k/month range? Depending on if driving to the strip is going to have to be something done nightly then the closer Id want to be. If I were able to call bets in, then closeness to the strip isn't as important. I dont have kids, I don't have to live in the nicest area in town, but don't want to live in the slums either, and would prefer an area that functions as a civilization outside of partying, gambling, and drinking. Thanks again for your help on answering any of these and any other info or tips anyone has. I really appreciate it.
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#2
Posted: 5/18/2011 2:24:12 AM
maybe you ought to head out and check things out a bit first- how old are you and have you ever gambled before?
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7Up7Down send a private message View Space | Friends | Playbook |
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#3
Posted: 5/18/2011 3:09:43 AM
of course. Im in my 30s, been to Vegas 40 or 50 times. Have been betting on sports for 15 years. I know what Im doing, just asking for help from anyone who has already traveled that path in Vegas.
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#4
Posted: 5/18/2011 2:30:29 PM

The sportsbook business in this town is changing drastically and quickly.....

Cantor Gaming runs the books at The M, Tropicana, Hard Rock, Cosmopolitan, Venetian and Pallazzo and is now finalizing a deal to take over the books for Caesars/Harrahs.

William Hill is acquiring Leroy's/Cal Neva and, strongly possible, will work out a deal with MGM to take over their 12 books.

I would advise you to wait until things settle here next year to see how the industry plays out...especially if both companies move forward with internet gaming.

Both of them will be strongly "account wagering" based...relying on that type of business as their mainstay and less upon the walk-in bettor who plunks down a dime a game.

I have one concern about your knowledge level...and that is the tax part. You should know, since you have been out here "40 to 50 times" that there is no tax extracted on any wagers unless you are getting 300-1 odds and being paid out over $600 in cash....something that you do not see in sports wagering...only in racing and slots.

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#5
Posted: 5/18/2011 3:16:51 PM
Thanks for the info. I was in the Hard Rock's book a few weeks ago, it's much nicer than what it used to be. And I agree with you that I think everythings headed toward online gaming being allowed, eventually in all states, but in Nevada first. When the day comes that you can do this legally sitting in Manhattan or Miami and not have to worry about dealing with the hassle of offshore books, then that will be great.

I did know what you said on the tax part, but wasn't sure that if you took out more than 10K, if they still filed a CTR. For example, if I deposit 25K into an account and 3 months later withdraw the account for 100K. Follow? That's more on what I was curious about as far as tax implications.
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#6
Posted: 5/18/2011 5:30:52 PM
Look into renting a place at Turnberry or The Meridian both are very close to the strip and with the suffering economy you can get a real nice 1 bedroom from 1k-1500. 


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#7
Posted: 5/22/2011 1:39:33 AM
you have no chance
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7Up7Down send a private message View Space | Friends | Playbook |
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#8
Posted: 5/22/2011 6:23:16 PM
QUOTE Originally Posted by CovasBrotha:

you have no chance

Thanks for the advice dickhead. If you have nothing to add to the thread, then get out of your mom's basement for a few hours and try getting a friggin life.
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ndsent1 send a private message View Space | Blog | Friends | Playbook | My Sportsbook: 5Dimes |
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#9
Posted: 6/4/2011 1:59:52 PM
Mom's basement.......That is the truth 7up hey enjoy it out there I was thinking about moving there as well........It's a great market to bye in.
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#10
Posted: 6/11/2011 1:35:21 PM
QUOTE Originally Posted by MilesZona:

Look into renting a place at Turnberry or The Meridian both are very close to the strip and with the suffering economy you can get a real nice 1 bedroom from 1k-1500. 



I live in the Meridian,  perfect place if your into the Gaming world. Walking distance from the strip, I wager at the Las Vegas Hilton and the train station stop is right outside entrance from front gate. Don't have to use car.  My neighbors are strippers and lawyers.  I  pay $1010. for a 2 bedroom,  great place to get started.  
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#11
Posted: 6/11/2011 1:39:06 PM
Also when I moved in to Meridian until my computer was hooked up and my home office was set up Mgmnt let me us there computer room for several days.  It's a ggod place, the pool is great.  Females everywhere, alot of them are strippers, cocktail serveres.
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thomas6512 send a private message View Space | Blog | Friends | Playbook | My Sportsbook: BetOnline.ag |
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#12
Posted: 6/11/2011 1:40:21 PM
After sometime LV Hilton gets to know you and tellers will take your phone calls on wagers,  not always but.  
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#13
Posted: 6/26/2011 9:51:11 PM

thomas6512-

Gotta few questions about the Meridian I'd like to ask you about on PM.Thanks

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#14
Posted: 6/27/2011 12:57:11 AM

I really doubt that Jay Kornegay lets his writers take bets over the phone....the NGC would dearly frown on that happening....If it  was discovered, the Hilton sportsbook would turn into a Carl's Jr overnight and Jay Kornegay would be flipping burgers.....

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#15
Posted: 6/28/2011 2:45:10 AM
would the vegas books kick you out if you start winning from them? anyone has experience with this? i too am thinking about moving to vegas one day. i'm a 5 hr drive
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#16
Posted: 6/28/2011 2:02:03 PM

jumba.....and others:

There is no one...repeat, no one...who would be denied action.

The amount of the action can vary depending upon the position that the book is in on a particular side....as in any business operation.

Additionally....If you are a recognized player at a particular book, you will have access to a higher level of action than someone who is unknown to the book.

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#17
Posted: 6/28/2011 5:09:45 PM
stay put.
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#18
Posted: 6/28/2011 8:04:04 PM
QUOTE Originally Posted by thomas6512:

Also when I moved in to Meridian until my computer was hooked up and my home office was set up Mgmnt let me us there computer room for several days.  It's a ggod place, the pool is great.  Females everywhere, alot of them are strippers, cocktail serveres.


YESSS! haha 
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#19
Posted: 6/28/2011 8:27:56 PM
i cant understand why people use standart books. offshore books are way better. laying -110 is for dinosaurs, lol.

move to canada, use pinnacle. beats vegas..
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#20
Posted: 6/28/2011 8:29:19 PM

Sound like you are not ready for Vegas as the town will probably eat you alive.  If you go, here are a few links:

http://stationsportsconnection.com/

http://www.vegasinsider.com/nfl/odds/las-vegas/

http://wizardofvegas.com/guides/sports-survey/

http://forums.viewfromvegas.com/user/Discussion.aspx?id=250557&gmtOffset=-300

http://www.leroys.com/

Plus, there are other phone accounts available if you live in Nevada

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#21
Posted: 6/30/2011 4:24:28 PM
QUOTE Originally Posted by JoshLewis:

i cant understand why people use standart books. offshore books are way better. laying -110 is for dinosaurs, lol.

move to canada, use pinnacle. beats vegas..

give me a working visa, free healtcare and i'm there

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#22
Posted: 6/30/2011 6:22:40 PM
QUOTE Originally Posted by VegasGourmet:

jumba.....and others:

There is no one...repeat, no one...who would be denied action.

The amount of the action can vary depending upon the position that the book is in on a particular side....as in any business operation.

Additionally....If you are a recognized player at a particular book, you will have access to a higher level of action than someone who is unknown to the book.

VG - I've heard this many times but am curious as to why the higher action is reserved for recognized players?  Any insight as to why this is?

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#23
Posted: 6/30/2011 11:40:27 PM
In college sports especially, the line moves based more on WHO is making the bet than just the amount of the bet....some bets are "steam" and the line moves in advance of more bets coming....there is no one definition of why or how it happens...and each book can be different in their approach to accepting bets....
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#24
Posted: 7/3/2011 12:35:19 PM
QUOTE

Originally Posted by thomas6512:

After sometime LV Hilton gets to know you and tellers will take your phone calls on wagers,  not always but.  

Can I go to this Fantasy World, regardless gl with everything and here s to + days

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