Sports Betting Paradigm Change | Page 2 | The Boneyard

Sports Betting Paradigm Change

whaler11 said:
id go hit an otb and realize the last thing youd want is that type of degenerate chasing away your high margin diner
Expand ...
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.
 
Waquoit said:
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.
Expand ...

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.
 
whaler11 said:
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.
Expand ...

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.
 
Fishy said:
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.
Expand ...

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.
 
Fishy said:
It always amazes me how badly gambling impact is always overrated.
Expand ...

Offshore books offer better odds. Bettors are much smarter than they're given credit for.
 
whaler11 said:
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.
Expand ...

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.
 
.-.
Fishy said:
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.
Expand ...

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.
 
5 months in the gross margin in RI is 1.8 million. $900k for the state since they get 51%. gamechanging stuff.
 
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.
 
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.
 
.-.
Fishy said:
When your most reliable demographic relies on the Fung Wah bus to get to your establishment, you be screwed.
Expand ...

Show some GD respect.
 
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.
 
Waquoit said:
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.
Expand ...

It’s a favorite of mine. As if you could even balance the action if you wanted to.
 
whaler11 said:
God the people who write about this stuff are economically illiterate.

Generating 2 billion in bets isnt bringing in 2 billion.
Expand ...
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.
 
Jarhead_1775 said:
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.
Expand ...

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.
 
whaler11 said:
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.
Expand ...
Oh for sure. I remember reading articles about how they were racking up massive debt to fund the marketing campaigns.
 
.-.
Exit 4 said:
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.
Expand ...

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.
 
gwhuskyfan said:
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.
Expand ...
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.
 
Waquoit said:
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.
Expand ...
Not likely. Leg. Session over. No casino expansion, no internet betting. Welcome to CT. Maybe in a special session after Neddy’s toll boondoggle
 
Maybe 10 years ago i would have cared. Bitcoin makes moving money around so easy having a ‘legal’ outlet with terrible odds is useless.
 
Nostical said:
'The floodgates are starting to open..."
www.wsj.com

ESPN and Fox Ante Up for Sports-Betting Jackpot

Sports gambling is legal in only a handful of states, yet many of the major sports broadcasters are grabbing a piece of the action.
www.wsj.com www.wsj.com
Expand ...

They have had terrible shows on for months. The guys on Fox are total losers, I doubt anyone has ever watched the ESPN show. Clay Helton - lol.
 
.-.
whaler11 said:
They have had terrible shows on for months. The guys on Fox are total losers, I doubt anyone has ever watched the ESPN show. Clay Helton - lol.
Expand ...
I caught Follow The Money on NESN a couple of times and thought it was pretty good. But more for the discussions about the nuts and bolts of the business than for the picks.
 
Waquoit said:
I caught Follow The Money on NESN a couple of times and thought it was pretty good. But more for the discussions about the nuts and bolts of the business than for the picks.
Expand ...

That’s the syndicated VSIN show? I listen on XM every once in a while. Most of the guys they bring on are long term losers - flipping coins would lead to a similar outcome.

Sports gambling shows get super boring very fast. Outside of football season they are essentially unwatchable. Some guy guessing at the total on the Brewers game... there is really a big market for that?
 
whaler11 said:
That’s the syndicated VSIN show? I listen on XM every once in a while. Most of the guys they bring on are long term losers - flipping coins would lead to a similar outcome.

Sports gambling shows get super boring very fast. Outside of football season they are essentially unwatchable. Some guy guessing at the total on the Brewers game... there is really a big market for that?
Expand ...
During football season I listen to quite a bit of Mitch and Paul in the morning on VSIN and Chris Fallica and Stanford Steve’s podcast. I’ve gotten some nice winners from them, but I can’t speak to the full body of work. At the very least they’re entertaining to listen.

Totally agree on the other sports though. I just don’t care about a 10 cent undervalued ML in baseball or hockey when I’m only betting pizza money to begin with.
 
You must log in or register to reply here.

Forum statistics

Threads
168,243
Messages
4,559,650
Members
10,447
Latest member
Theuconnguy


Top Bottom