Sports Betting Paradigm Change

[Waquoit]

Disagree. Not naïve to betting without this, but there are people who wouldn't go to a sports book (often), and wouldn't trust an illegal web site, who will be drawn in this way.

And then what? I'm not buying that this will be a huge negative impact. The more ubiquitous stuff like this, the more the forbidden fruit loses it's appeal. There are slot parlors everywhere these days. If there was a corresponding massive rise in misery I'm sure I would have read about it. When I drove cross country a decade ago, I found myself in bars that had legal, real-deal slot machines. I never saw anyone playing them.

 

[The Viking]

Last I had heard from someone I trust, the state wanted to move forward on this even though there was the threat of the indians trying to tie this up in court
No word yet regarding an app or online element however it was being looked at..I wouldn't bet the mortgage though on the app/online option

 

[Nostical]

One of the reasons Arby’s owners bought BWW for $2.9B in 2018.

ABOUT BUFFALO WILD WINGS...AND SPORTS BETTING
BY BART SHIRLEY

Sports betting and daily fantasy sports company DraftKings is close to a marketing deal with Buffalo Wild Wings. Sources near the deal confirmed that negotiations were proceeding between the two companies.
Sports betting at a Buffalo Wild Wings may seem like one of the more unlikelier scenarios, but it’s actually based in some measure of reality. The restaurant is very interested in expanding into sports betting.

“As the largest sports bar in America, we believe Buffalo Wild Wings is uniquely positioned to leverage sports gaming to enhance the restaurant experience for our guests. We are actively exploring opportunities, including potential partners, as we evaluate the next steps for our brand.”​

The hot wing chain has a long road of regulatory hurdles to clear before it begins accepting wagers on the games it shows. However, a partnership with DraftKings may allow them to jump some of those obstacles.
DraftKings was first to the market with an online Sportsbook in New Jersey and its experience with negotiating the New Jersey gaming regulations would be invaluable to a partner like Buffalo Wild Wings. The presence of DraftKings sports betting booths or kiosks in every Buffalo Wild Wings could attract customers who prefer watching in the more communal atmosphere of a Las Vegas Sportsbook on game days.
Gaming industry experts predict 32 states will have legal sports betting by 2033. Most states already have Buffalo Wild Wings.

 

[whaler11]

One of the reasons Arby’s owners bought BWW for $2.9B in 2018.

ABOUT BUFFALO WILD WINGS...AND SPORTS BETTING
BY BART SHIRLEY

Sports betting and daily fantasy sports company DraftKings is close to a marketing deal with Buffalo Wild Wings. Sources near the deal confirmed that negotiations were proceeding between the two companies.
Sports betting at a Buffalo Wild Wings may seem like one of the more unlikelier scenarios, but it’s actually based in some measure of reality. The restaurant is very interested in expanding into sports betting.

“As the largest sports bar in America, we believe Buffalo Wild Wings is uniquely positioned to leverage sports gaming to enhance the restaurant experience for our guests. We are actively exploring opportunities, including potential partners, as we evaluate the next steps for our brand.”​

The hot wing chain has a long road of regulatory hurdles to clear before it begins accepting wagers on the games it shows. However, a partnership with DraftKings may allow them to jump some of those obstacles.
DraftKings was first to the market with an online Sportsbook in New Jersey and its experience with negotiating the New Jersey gaming regulations would be invaluable to a partner like Buffalo Wild Wings. The presence of DraftKings sports betting booths or kiosks in every Buffalo Wild Wings could attract customers who prefer watching in the more communal atmosphere of a Las Vegas Sportsbook on game days.
Gaming industry experts predict 32 states will have legal sports betting by 2033. Most states already have Buffalo Wild Wings.

you certainly arent afraid to triple down when wrong but the equation for a restaurant is a bit different than a state. there may be an opportunity to lease space to a draft kings type outlet and hope to increase restaurant traffic.

id go hit an otb and realize the last thing youd want is that type of degenerate chasing away your high margin diner - but its going to take conventional wisdom a long time to catch up with reality on this topic.

 

[Waquoit]

BWW has had NTN game boxes forever. I remember it had a game during football season (maybe it still does) where you got points for predicting run/pass and extra points if you picked long/short left/mid/right correctly. That's a gambling game right there.

 

[Waquoit]

id go hit an otb and realize the last thing youd want is that type of degenerate chasing away your high margin diner

I think that's what happened to Shea's in Manchester when they tried to upgrade their restaurant. It started strong but I think -bombs from losing patrons at the bar chased the crowd away.

 

[whaler11]

I think that's what happened to Shea's in Manchester when they tried to upgrade their restaurant. It started strong but I think -bombs from losing patrons at the bar chased the crowd away.

all you have to do is go to the OTB in south end - nobody is going to eat or watch games around that crowd.

bobby v’s works pretty well because it’s a separate physical space - but that place is empty everytime
Ive been there except a triple crown race or nfl sunday.

 

[Fishy]

PA looks like they received 2 million in March. 2 million is 2 million but sort of proves the point that this isn’t nearly as big as some people proclaimed.

It always amazes me how badly gambling impact is always overrated.

There's always a pie in the sky assumption that putting a casino down somewhere will result in massive revenue. (See the Resorts World Casino that opened in Catskill...it's doing so poorly that it likely will not survive.)

Same with sports books. There are x number of gamblers in the country and they are already gambling. The pie never gets bigger, the slices just get smaller.

Sportwriters and politicians are the slowest to understand that reality.

 

[whaler11]

It always amazes me how badly gambling impact is always overrated.

There's always a pie in the sky assumption that putting a casino down somewhere will result in massive revenue. (See the Resorts World Casino that opened in Catskill...it's doing so poorly that it likely will not survive.)

Same with sports books. There are x number of gamblers in the country and they are already gambling. The pie never gets bigger, the slices just get smaller.

Sportwriters and politicians are the slowest to understand that reality.

The pie is shrinking. The gamblers are dying and the kids aren’t into it.

The casinos are a hilarious oversaturated joke. Boston needs a casino like it needs herpes.

There are three casinos in Rhode Frigging Island. There was a casino in Lincoln - and they opened another one in North Tiverton. It would be like if they opened a casino 15 minutes from the Catskills one.

Go to Mohegan Sun on a weeknight with no big arena event. It’s dead as a doornail.

Foxwoods is selling rooms for $70 on Groupon. The last time I stayed there the restaurants were empty all night and closed at 10.

Anyone know someone who plays daily fantasy sports? Nope because everyone who tried lost their shirts to a handful of quants and moved on.

I hit the Dania Beach casino a few weeks ago. A hundred people maybe at Jai Alai on Thursday night - and maybe 10 people playing the computer craps/roulette/bj games. I dont think I saw anyone playing a slot.

Anyone doubling down on gambling is insane. The more I think about BWW the more I laugh thinking about how it’s the kind of decision that will put them out of business.

 

[zls44]

It always amazes me how badly gambling impact is always overrated.

Offshore books offer better odds. Bettors are much smarter than they're given credit for.

 

[Fishy]

Anyone doubling down on gambling is insane. The more I think about BWW the more I laugh thinking about how it’s the kind of decision that will put them out of business.

Resorts World asked New York State if they could take 2,500 slots out of their brand new casino because they needed to save some money on machine leasing.

They lost about 120M in their first year.

When your most reliable demographic relies on the Fung Wah bus to get to your establishment, you be screwed.

 

[whaler11]

Resorts World asked New York State if they could take 2,500 slots out of their brand new casino because they needed to save some money on machine leasing.

They lost about 120M in their first year.

When your most reliable demographic relies on the Fung Wah bus to get to your establishment, you be screwed.

That’s awesome. The slot revenue at combined Mohegan Sun/Foxwoods has gone from 475 million in 2006 to 250 in 2018. They expected MGM Springfield to knock it down to 200 in 2019.

MGM Springfield was 960 million to build and it was delivered DOA. The review from a degenerate friend of mine “it’s not as bad as I expected”.

What’s the solution for Sun/Foxwoods?

You guessed it ANOTHER casino they run together in East Windsor between Hartford and Springfield.

Between 07-15 the rake for the two casinos in CT fell by 31%. Foxwoods defaulted on $2 billion in debt in that period. Best I can tell between them their debt is combined around 2.5 billion currently. Good luck collecting that.

 

[whaler11]

lol. #cashcow

 

[whaler11]

5 months in the gross margin in RI is 1.8 million. $900k for the state since they get 51%. gamechanging stuff.

 

[The Viking]

It's clear that if you want to make money you legalize online gambling. I believe that Lamont acknowledged recently that WHENEVER they finally come to an agreement with the Indians, there will be an online element to it.

 

[Waquoit]

I think the tribes want the state to break the compact more than they want sports betting.

 

[Exit 4]

Let’s put tolls all the way around the two Indian casinos and then let some idiot build the casino of their dreams in BPort. That ought to be a tax revenue wash (especially in 5 years) and break ourselves from this absurd compact which inconveniently gums up a lot of issues like sports gambling and other gaming ventures.

 

[zls44]

When your most reliable demographic relies on the Fung Wah bus to get to your establishment, you be screwed.

Show some GD respect.

 

[Waquoit]

When it comes to sports betting, the CW is the house wants to even both sides out and pocket the vig. That's not true, they want to beat you. There's not enough money for them in just the vig.

“There’s 12, 14 games on a Sunday—what we really want to do, we really don’t want to be balanced on each game,” says Vic Salerno, the founder of Leroy’s Horse & Sports Palace and an inductee in UNLV’s Gaming Hall of Fame. “If we win three games we will probably break even. If we win four, we’re making money. If we win five, we’re going to make a tremendous amount of money.”

I know this isn't news to everyone, I just happen to see it in print today.

 

[whaler11]

When it comes to sports betting, the CW is the house wants to even both sides out and pocket the vig. That's not true, they want to beat you. There's not enough money for them in just the vig.

“There’s 12, 14 games on a Sunday—what we really want to do, we really don’t want to be balanced on each game,” says Vic Salerno, the founder of Leroy’s Horse & Sports Palace and an inductee in UNLV’s Gaming Hall of Fame. “If we win three games we will probably break even. If we win four, we’re making money. If we win five, we’re going to make a tremendous amount of money.”

I know this isn't news to everyone, I just happen to see it in print today.

It’s a favorite of mine. As if you could even balance the action if you wanted to.

 

[Jarhead_1775]

God the people who write about this stuff are economically illiterate.

Generating 2 billion in bets isnt bringing in 2 billion.

Honestly. They're making a small percentage on bets and now couple it with the infrastructure and management costs. I wonder how they stay in business at all.

 

[whaler11]

Honestly. They're making a small percentage on bets and now couple it with the infrastructure and management costs. I wonder how they stay in business at all.

They boot winners and offer horrible odds.

The amount they have to spend on advertising to generate new customers is their long term issue.

Remember when every commerical on TV was FanDuel or Draft Kings.

 

[Jarhead_1775]

They boot winners and offer horrible odds.

The amount they have to spend on advertising to generate new customers is their long term issue.

Remember when every commerical on TV was FanDuel or Draft Kings.

Oh for sure. I remember reading articles about how they were racking up massive debt to fund the marketing campaigns.

 

[gwhuskyfan]

Let’s put tolls all the way around the two Indian casinos and then let some idiot build the casino of their dreams in BPort. That ought to be a tax revenue wash (especially in 5 years) and break ourselves from this absurd compact which inconveniently gums up a lot of issues like sports gambling and other gaming ventures.

This. I'm really surprised Lamont hasn't gone hardball with the tribes about putting tolls if they don't ease up on the sports gambling exclusivity claims.

 

[Waquoit]

This. I'm really surprised Lamont hasn't gone hardball with the tribes about putting tolls if they don't ease up on the sports gambling exclusivity claims.

Not even remotely worth the bother. There's not that much money at stake unless the state does something stupid to void the compact. I bet they find a deal.