Messages

Forum Index : Las Vegas : Messages
Author: [Las Vegas] Topic: Will Vegas continue to have sports betting in casinos?
TaterOneNine send a private message View Space | Friends | Playbook |
TaterOneNine
Participation Meter
Covers Rehab
Joined: Jun 2010
Posts: 345
Location:
#1
Posted: 11/28/2010 2:31:15 AM
Just a quick question, going off the Ghost town Vegas thread...

If the sportsbook is such a small part of the revenue for these casinos, and such a hassle why do they continue to offer them? Why not fill the area with more tables/slots and more seats for horse players.

I guess this thread is more along the lines of will we ever see sports betting gone in Vegas casinos, and then have to bet exclusively online?  Sports seem like such a hassle to the casino with the lack of comps/inflated juice and stuff like that.
quote
nc1capper send a private message View Space | Blog | Friends | Playbook |
nc1capper
Participation Meter
MVP
Joined: Aug 2007
Posts: 15581
Location: North Carolina
#2
Posted: 11/28/2010 4:29:44 PM
hopefully Vegas Gourmet will stop by with a better explaination - but short answer is --YES sports gaming will continue and will probably move more towards mobile gaming--VG will explain as he is the resident Vegas guru
quote
VegasGourmet send a private message View Space | Friends | Playbook |
VegasGourmet
Participation Meter
Rookie
Joined: Mar 2010
Posts: 812
Location:
#3
Posted: 11/28/2010 10:34:03 PM

If I owned a casino/hotel, I would put self-betting kiosks everywhere I could, I would also give my guests the opportunity (as does the South Coast), the ability to establish a phone account and make bets from their suites while watching the games and the horses. I would market the hell out of the monopoly that I have in the United States and offer 5% rebates, in the form of food/entertainment comps, for all sports bets and 10% rebates in the form of comps for racing bets. I would have a customer service betting area to answer questions and help "school" the guests in betting knowledge.....My sportsbook would not have any writers, only hdtv's for sports and racing.

That's Part 1 to my answer...what I would do. Part 2 is a much tougher assignment....For the most part, Vegas is run by people that are not terribly bright....forgive me Mr Loveman....they are afraid of making decisions (which can be excrutiating)....None, with the possible exception (in the future) of Cantor Gaming/Cantor Fitzgerald see the brilliance in what Vegas/Nevada has to offer the entrepreneur. I'll give this much more thought and come back another time.

quote
sharpstick send a private message View Space | Friends | Playbook | My Sportsbook: M Resort |
sharpstick
Participation Meter
Captain
Joined: Jan 2010
Posts: 8056
Location: Nevada
#4
Posted: 11/29/2010 2:38:13 PM
It will be hard to get rid of a sportsbook if other casinos don't follow suit.  It is more of an amenity.  Some of the big players like to play sports or horses and if your casino doesn't have that option, they will likely find somewhere else to do it.


quote
VegasGourmet send a private message View Space | Friends | Playbook |
VegasGourmet
Participation Meter
Rookie
Joined: Mar 2010
Posts: 812
Location:
#5
Posted: 11/29/2010 10:50:58 PM

Sharpstick...

Much like a high-limit room at Mandalay or a private poker room upstairs at Bellagio, the hotel has many ways to cater to their limit sports bettors....My idea, actually, would allow them to service these bettors without the bettor having to go into the sportsbook at all.....Internal phone accounts, booked to the room, are quite easy....the cage has all the knowledge it needs to see to it that these bettors are taken care of.

My point about eliminating the physical sportsbook allows the hotel to bring sportsbetting to a much more sophisticated, technical level. The sportsbook, itself, is useless. As I have said a number of times in this forum...I go into a sportsbook to make my bets, not to watch the games....horse racing aside....and then I find where I want to watch the games with good booze and, perhaps, some food....and great tv's.

quote
TaterOneNine send a private message View Space | Friends | Playbook |
TaterOneNine
Participation Meter
Covers Rehab
Joined: Jun 2010
Posts: 345
Location:
#6
Posted: 11/30/2010 1:41:57 AM
VegasGourmet. I really like your idea, but as far as eliminating the physical sportsbook, and people betting in there rooms, are you insinuating that all the feeds for all games will go directly to the rooms as well? I know alot of my buddies when we go to Vegas, put some cash on a game for leisure, and would never bet a game they couldnt root and cheer for there team lol.

Take a day like Sunday NFL, I think the number of bets would be drastically reduced if there was no physical sportsbook showing all games that are going on. and you were reduced to only watching whatever game was on CBS or FOX at that time.

This is especially true during baseball season as I would say 75% of the games are not on TV unless you have the MLB package
quote
VegasGourmet send a private message View Space | Friends | Playbook |
VegasGourmet
Participation Meter
Rookie
Joined: Mar 2010
Posts: 812
Location:
#7
Posted: 11/30/2010 11:19:22 AM

Tater...

I mis-typed earlier...I was using the South Point as an example....If you are a guest of the hotel, you can set up a phone account from your room for betting on the races...then all the racetracks are piped into your room....I can't see why this cannot be done with sports also...

HOWEVER...my point was that watching the games is better done anywhere else BUT the sportsbook....Even Aria with it's 130+ tvs doesn't do it for me....

The number of bets...especially on football...would drastically INCREASE if people could make their football bets from kiosks placed all over the hotel/casino, from their rooms, or internally from phones in the hotel. The bets get charged to the room using a pre-determined betting limit and a private pin code.

There are slot machines now that can make dinner reservations for you while you play and perform a myriad of other services for the guest...WHILE PLAYING THAT SLOT MACHINE...It would be fairly easy to add programming to the slot machine that allows the bettor to make sports bets from those machines also.

quote
rounders69
RSI Wagerline RSI Rating
send a private message View Space | Friends | Playbook | My Sportsbook: Sportsbook.com |
rounders69
Participation Meter
Rookie
Joined: Jan 2006
Posts: 594
Location: United States
#8
Posted: 11/30/2010 11:58:38 AM
Even though the books don't make nearly as much money as slot and table games for the casino they do serve a purpose.  A lot of people go to Vegas to bet games and watch games in that live environment.  A perfect example is the NCAA tournament.  I know a ton of guys that go out to watch this and if there was no book they would not go to Vegas, they would stay home and watch on their couch and bet online.  The books attract people to Vegas and I don't believe Vegas should do anything to discourage people from coming there, especially considering the current economy.  I go out several times a year and used to live there and every time I go Vegas seems more and more empty and it gets cheaper to go every time.  I remember the days when the Bellagio was anywhere between $300-$500 a night and now you can stay many nights of the year for less than $100 a night.  Around five to ten years ago it cost me anywhere from $600 - $800 for 3 nights plus airfare for an above average strip casino.  Now I can stay just about anywhere for less than $500 including airfare for 3 nights, with some exceptions New Years, Super Bowl etc.   The books also serve purpose for those who want to bet large amounts of money on games and want their money now not next week from their local or in a couple weeks from their offshore.   Just my 2 cents.
quote
VegasGourmet send a private message View Space | Friends | Playbook |
VegasGourmet
Participation Meter
Rookie
Joined: Mar 2010
Posts: 812
Location:
#9
Posted: 11/30/2010 12:21:48 PM

Rounder...

Mandalay Bay at March Madness and Las Vegas Hilton at Super Bowl...those are your two anomalies...

I'm not certain what you mean by "live environment".....a sportsbar with a betting kiosk (Leroy's has a number of them..especially at Buffalo Wild Wings) to me, is a "live environment"....

I really think that if you give someone the opportunity to make a sports bet and be comfortable knowing that they will collect their cash as soon as the game is over, they will choose that option over offshore betting.

The more that Vegas gets involved in online gambling...it will come...the more offshore will lose business. Cantor Gaming is, immediately upon approval of its online license, going to go after the estimated 2.5 billion that leaves this state for offshore accounts.

quote
VegasGourmet send a private message View Space | Friends | Playbook |
VegasGourmet
Participation Meter
Rookie
Joined: Mar 2010
Posts: 812
Location:
#10
Posted: 11/30/2010 12:42:43 PM

"Even though the books don't make nearly as much money as slot and table games for the casino".....

Rounders....They make less than 2% of what the casino makes....That's a helluva lot less than "nearly as much money"...

Vegas is incapable of marketing their sports betting monopoly....Have you EVER seen a commercial about Vegas with sports betting in the commercial?....NEVER...

The ONLY way that Vegas can increase its business in sports betting is by going more technical....The "personal" touch is so far down on the food chain that no one really cares about it....Just look at some of the negativity in this forum about the writers in the sportsbook, or the lack of free booze flowing 24/7 to those that bet.... 

quote
rounders69
RSI Wagerline RSI Rating
send a private message View Space | Friends | Playbook | My Sportsbook: Sportsbook.com |
rounders69
Participation Meter
Rookie
Joined: Jan 2006
Posts: 594
Location: United States
#11
Posted: 11/30/2010 12:52:13 PM

VG:

I agree 100% that if you give someone the opportunity to make a sports bet knowing they will collect right away is absolutely better than offshore that is what makes the good Vegas books great.  I believe more and more people are going back to locals because offshore it is getting harder and harder getting money in and out of offshore.  I don't know about you but for some strange reason I have a hell of a lot more fun in Bellagio and Hilton books than I do on my couch or at a local bar or restaurant.   I definitely agree that the books don't make as much as slots or table games, but Vegas doesn't need any more of those because casino's can't barely fill 20% of Slot Machines and 50-75% of table games anymore.  It is tuff to beat the environment in a Vegas book on a College Football or Basketball Saturday or even NFL on Sundays.  I hope they don't ever get rid of the books.

quote
rounders69
RSI Wagerline RSI Rating
send a private message View Space | Friends | Playbook | My Sportsbook: Sportsbook.com |
rounders69
Participation Meter
Rookie
Joined: Jan 2006
Posts: 594
Location: United States
#12
Posted: 11/30/2010 12:59:36 PM

VG

I agree books make nothing for casino comparatively speaking, but they do attract people to Vegas who spend their money not just in books while they are their.

The free booze issue is a joke like you said.  People betting $5 on one game and expecting free drinks all day.  Vegas should however in my opinion offer free booze to everyone that wagers a minimum of $500 on any given day.  Not just give out one free drink ticket like at Ceasars.  That is why most people in these forums are going to Bellagio and Hilton Books because to my knowledge they are the only strip locations that still offer free drinks plus tip of course. 

quote
TaterOneNine send a private message View Space | Friends | Playbook |
TaterOneNine
Participation Meter
Covers Rehab
Joined: Jun 2010
Posts: 345
Location:
#13
Posted: 11/30/2010 2:40:43 PM
The idea of betting from the comfort of your own room to me is glorious. (as long as all the games/races are piped back to teh room TVs).  As of right now, when I go to Vegas, I literally rent the cheapest room at the cheapest hotel possible on the strip, because I am actually in my room for no more than 5 hours a day.  4 to sleep, and an hour to shower, and get ready. If I could bet, and watch games from my own room, I would have no problem renting a suite or something really nice with my buddies.  I think Vegas would make a lot more money from this, as many people would do the same. I think it would also increase there revenue on things like food room service which is marked so ridiculously high already.


quote
rubberband-man send a private message View Space | Friends | Playbook |
rubberband-man
Participation Meter
Prospect
Joined: Jul 2007
Posts: 339
Location:
#14
Posted: 11/30/2010 6:40:48 PM
weather they make money off it or make a little off it as any business owner will tell you every penny counts so they will keep it and probably find a way to exploit people who have no idea what they were betting on
quote
TaterOneNine send a private message View Space | Friends | Playbook |
TaterOneNine
Participation Meter
Covers Rehab
Joined: Jun 2010
Posts: 345
Location:
#15
Posted: 11/30/2010 7:19:04 PM
QUOTE Originally Posted by rubberband-man:

weather they make money off it or make a little off it as any business owner will tell you every penny counts so they will keep it and probably find a way to exploit people who have no idea what they were betting on

at this point, I guess you are right..even thought they would much rather have slots and tables full where the sportsbook is now, but with the economy now, and the struggles to fill what they have now. Sportsbooks are here to stay
quote
DesertMenace send a private message View Space | Friends | Playbook |
DesertMenace
Participation Meter
Banned
Joined: Nov 2010
Posts: 14
Location: Nevada
#16
Posted: 12/1/2010 5:29:47 AM
quote
pinoy1da
RSI Wagerline RSI Rating
send a private message View Space | Friends | Playbook | My Sportsbook: 5Dimes |
pinoy1da
Participation Meter
Captain
Joined: Oct 2010
Posts: 6006
Location: California
#17
Posted: 12/3/2010 5:41:23 AM
QUOTE Originally Posted by TaterOneNine:

Just a quick question, going off the Ghost town Vegas thread...

If the sportsbook is such a small part of the revenue for these casinos, and such a hassle why do they continue to offer them? Why not fill the area with more tables/slots and more seats for horse players.

I guess this thread is more along the lines of will we ever see sports betting gone in Vegas casinos, and then have to bet exclusively online?  Sports seem like such a hassle to the casino with the lack of comps/inflated juice and stuff like that.

Noooo Dont say that bro.
i wanna reach my golden age and get action in Vegas 

cmon mannn! ahaha.

well back to the subject.

I hope they continue. especially BIG Wagers

i wouldnt trust online with that type of wagers with the stories of peoples account getting frozen 
quote
VegasGourmet send a private message View Space | Friends | Playbook |
VegasGourmet
Participation Meter
Rookie
Joined: Mar 2010
Posts: 812
Location:
#18
Posted: 12/8/2010 7:28:52 PM

Reid's 'Net betting bill would aid his casino backers

  Two Las Vegas casino companies that were big contributors to Nevada Sen. Harry Reid’s re-election would benefit from an Internet gambling measure that the majority leader is attempting to add to a massive tax cut bill, lobbyists and staffers tell NBC News.

quote
winddust send a private message View Space | Blog | Friends | Playbook |
winddust
Participation Meter
Rookie
Joined: Mar 2008
Posts: 918
Location:
#19
Posted: 12/9/2010 4:34:28 AM

The casino is that a casino.   The casinos have poker rooms but they do not generate much revenue.  They have restaurants they do not generate a lot of money.  The tables do not always have a strong hold.  Its a business and every aspect of the Casino generates money.  A lot of times money goes from one place to another.  So we can say the sportsbook generate a small percentage of money.  But whats not to say that a majority of people who win at the sportsbook will go lose it in the machines or at the tables.   The more people for sportsbetting or concerts or whatever it might be the people are more apt to spend there money somewhere else in the casino.  They just want to attract as much people as possible to set foot in the door.   I often times see guys playing blackjack big then go bet on games.  If they win they just go lose it right back at the slots or tables.  When people lose they pull out more money and lose.  There is a lot more to a casino that meets the eye.   Like rubber said every penny counts.  If you did have the live sportsbook there nobody would come watch the games.

quote
VegasGourmet send a private message View Space | Friends | Playbook |
VegasGourmet
Participation Meter
Rookie
Joined: Mar 2010
Posts: 812
Location:
#20
Posted: 12/9/2010 7:17:20 PM

The Director of Cantor Gaming disagrees strongly with you...

"...the day of 25,000 square foot sportsbooks is over..."....

More and more you will see technology replace live people.....you can put tv's anywhere and you can put betting kiosks anywhere...you can bet from your smartphone or your laptop....or from a device given to you by a customer service rep at the "sportsbook"....

If that guy at the blackjack table can use his hand-held monitor to place a sportsbet while watching it on a 36" hdtv at the blackjack table....he will be quite happy.....

...and that day is coming a lot sooner than anyone on this website understands....

Remember....you only pay for a computer once.....You pay for employees every day....

quote
Forum Index : Las Vegas : Messages
You have entered the forum as a GUEST. 
You must login/register to post or reply.