Tweet
Jimmy V Column 1/4/02
As I See It, by Jimmy Vaccaro
January 4, 2002
Well, here we are, 2002 and time keeps marching on. Sometimes the pace is a bit quicker than I'd prefer, but this is one game that no one beats.
With the passage of time, every industry needs new ideas and sports gambling is no exception. We have talked about the competitive nature of the sports betting fraternity, and I have covered the pro and con about the direction of sports betting both here in Nevada and off shore.
At the end of the day, you can only get so much mileage out of rebates or comps, before it becomes both counterproductive and bad business to keep stretching out these giveaways to the max.
It is one thing to be player friendly, but there are better ways to reward bettors that lets the house keep a fair profit margin while being fair to the customer.
Make no mistake, both sides are giving it their best shot in trying to win. But a shop that gives you a bonus signup, then turns around and charges you -140 on a two-team, seven-point teaser, it comes out a wash in the long run.
Now I'm not going to pick apart these types of props because it would be unjust to do so. Also, everyone can justify their position vis-à-vis their policies and what they are spending to attract new business.
Yes, I understand there are shops that are reasonable as can be on the types of bets and money line straddles they offer, but I believe you get the picture and will understand more as we get into the article.
Essentially, I believe a sportsbook could get more people to come to its property by being a little more creative. Perhaps by following what might look like unorthodox activity at first glance. But with a little tweaking, it would make sense and work very nicely.
I mentioned this article to my friend Roger, who runs Heritage 2000, and said I was going to ask for feedback from players regarding the ideas I put forth.
I have always tried to be ahead of the curve and to implement things that made sense to both player and bookmaker alike.
If I were king and had final say in some joint, I would try some of the following:
* Reverse Teasers. Instead of moving the numbers to the benefit of the bettor, I would reverse them. For example, if Green Bay is -3 this week vs. New York and New England is -6 at Carolina, a reverse teaser on these games would read Green Bay -9, and Patriots -12, naturally with a plus payoff.
I haven't done all the math, but with a few computations I would come up with a pay schedule that was challenging and fair. Of course, the math would also have to be calculated for payoffs to the dogs.
* Scramble. This idea was initiated by a guy named Joe Sliman back in the '70s. He owned a joint called the Royal, and had an 18-point scramble. Players picked three teams and had the choice of using the amount of points on any or all of the three teams. You could chop up the 18 points any way you wanted. The vig we would offer would be appropriate for today's standards.
* True Baseball Line. The favorite and dog would be offered at the same number. Lay -150 or take +150, all the way up and down the line with Maggie Cline. House takes a commission only after you win the bet. Based on preliminary estimates I did, 3-5% juice might work.
* Split the Juice. Some games just lay all week long and don't get much action. You might spice them up by using a line that favors the house, but gives the option of betting with no vig attached. Say a game is 9, would you lay 9 -110 or would you lay 9½ at even money? Same applies for the dog at +9 -110, or 9½ at even money.
Yes I understand if it comes nine, they have a Scoop Jackson, but in the long run a sharp guy who has a feel for the way the number is going to move may have the best of it.
* Surrender. I am sure most of you are familiar with the rule that many casinos offer in 21. After you receive two cards and see what the dealer has showing, you have a chance to surrender half your bet if you do not like your chances. You know the spot when you have 16 and the dealer is showing a queen.
Could this concept be utilized in sports betting? You never know. Here is how I see it. Once again, using the Giants-Packers game this Sunday with GB -3. Say the halftime score is 7-3 Pack. You have bet $110 on the dog at +3, but do not like your chances based on the way you see the game has gone. Would you like to get off by giving up half your bet?
Naturally this choice couldn't be offered every game, such as Nebraska-Miami with the score 34-0 at the half. But certain parameters could be set up in advance so bettors would know what to expect if games were within 1-3 points of the closing line.
This could be a lot of run if offered properly.
I realize that it is easy to offer up new ideas when you do not bear the responsibility of putting them together and backing them financially.
Implementing any of these concepts would require the expenditure of time and resources to make them feasible, as well as the bankroll to back them.
But that is the price that must be paid if a shop is to be progressive and keep moving forward rather than copying everyone else and doing the same old, same old. You have to step up and take a shot.
Could these ideas I have presented work? I believe so. Will we find out? I don't know.
I'd be interested in hearing from others with ideas that they would like me to pass on. Please feel free to send them to me.
Well, last week, I had the Broncos, and that was the last winner I had as the bowl games were pretty sour for me. I was on Kansas State and Michigan, and both games were as bad as you could possibly imagine. And could someone please tell Frank Solich that when you are in the fourth quarter and down by 20 with 4th and 6, an off tackle play up the middle doesn't get it done.
Well, we pay our cash and move on.
With most of this final NFL week's games having no meaning, I plucked out the Browns +7 vs. the Steelers. I am sure by now that everyone has read that Cowher intends to start pulling starters early. However, he has said this in the past and not done it.
This time is quite different, with the bye and home field through the playoffs. I think you could see some early outs that will benefit a Browns team that showed character last week against the Titans, and the points are too good to pass up. Could be an outright win. Schvittzer, this might get you out of retirement.
Comments are appreciated at www.jimmyvaccaro.com or [email protected]. Also read the off shore report at www.legalwagerreport.com.
Daily free selections at 1-800-899-1122.
Thank you and let us all have a good year in all ways,
Jimmy Vaccaro
January 4, 2002
Well, here we are, 2002 and time keeps marching on. Sometimes the pace is a bit quicker than I'd prefer, but this is one game that no one beats.
With the passage of time, every industry needs new ideas and sports gambling is no exception. We have talked about the competitive nature of the sports betting fraternity, and I have covered the pro and con about the direction of sports betting both here in Nevada and off shore.
At the end of the day, you can only get so much mileage out of rebates or comps, before it becomes both counterproductive and bad business to keep stretching out these giveaways to the max.
It is one thing to be player friendly, but there are better ways to reward bettors that lets the house keep a fair profit margin while being fair to the customer.
Make no mistake, both sides are giving it their best shot in trying to win. But a shop that gives you a bonus signup, then turns around and charges you -140 on a two-team, seven-point teaser, it comes out a wash in the long run.
Now I'm not going to pick apart these types of props because it would be unjust to do so. Also, everyone can justify their position vis-à-vis their policies and what they are spending to attract new business.
Yes, I understand there are shops that are reasonable as can be on the types of bets and money line straddles they offer, but I believe you get the picture and will understand more as we get into the article.
Essentially, I believe a sportsbook could get more people to come to its property by being a little more creative. Perhaps by following what might look like unorthodox activity at first glance. But with a little tweaking, it would make sense and work very nicely.
I mentioned this article to my friend Roger, who runs Heritage 2000, and said I was going to ask for feedback from players regarding the ideas I put forth.
I have always tried to be ahead of the curve and to implement things that made sense to both player and bookmaker alike.
If I were king and had final say in some joint, I would try some of the following:
* Reverse Teasers. Instead of moving the numbers to the benefit of the bettor, I would reverse them. For example, if Green Bay is -3 this week vs. New York and New England is -6 at Carolina, a reverse teaser on these games would read Green Bay -9, and Patriots -12, naturally with a plus payoff.
I haven't done all the math, but with a few computations I would come up with a pay schedule that was challenging and fair. Of course, the math would also have to be calculated for payoffs to the dogs.
* Scramble. This idea was initiated by a guy named Joe Sliman back in the '70s. He owned a joint called the Royal, and had an 18-point scramble. Players picked three teams and had the choice of using the amount of points on any or all of the three teams. You could chop up the 18 points any way you wanted. The vig we would offer would be appropriate for today's standards.
* True Baseball Line. The favorite and dog would be offered at the same number. Lay -150 or take +150, all the way up and down the line with Maggie Cline. House takes a commission only after you win the bet. Based on preliminary estimates I did, 3-5% juice might work.
* Split the Juice. Some games just lay all week long and don't get much action. You might spice them up by using a line that favors the house, but gives the option of betting with no vig attached. Say a game is 9, would you lay 9 -110 or would you lay 9½ at even money? Same applies for the dog at +9 -110, or 9½ at even money.
Yes I understand if it comes nine, they have a Scoop Jackson, but in the long run a sharp guy who has a feel for the way the number is going to move may have the best of it.
* Surrender. I am sure most of you are familiar with the rule that many casinos offer in 21. After you receive two cards and see what the dealer has showing, you have a chance to surrender half your bet if you do not like your chances. You know the spot when you have 16 and the dealer is showing a queen.
Could this concept be utilized in sports betting? You never know. Here is how I see it. Once again, using the Giants-Packers game this Sunday with GB -3. Say the halftime score is 7-3 Pack. You have bet $110 on the dog at +3, but do not like your chances based on the way you see the game has gone. Would you like to get off by giving up half your bet?
Naturally this choice couldn't be offered every game, such as Nebraska-Miami with the score 34-0 at the half. But certain parameters could be set up in advance so bettors would know what to expect if games were within 1-3 points of the closing line.
This could be a lot of run if offered properly.
I realize that it is easy to offer up new ideas when you do not bear the responsibility of putting them together and backing them financially.
Implementing any of these concepts would require the expenditure of time and resources to make them feasible, as well as the bankroll to back them.
But that is the price that must be paid if a shop is to be progressive and keep moving forward rather than copying everyone else and doing the same old, same old. You have to step up and take a shot.
Could these ideas I have presented work? I believe so. Will we find out? I don't know.
I'd be interested in hearing from others with ideas that they would like me to pass on. Please feel free to send them to me.
Well, last week, I had the Broncos, and that was the last winner I had as the bowl games were pretty sour for me. I was on Kansas State and Michigan, and both games were as bad as you could possibly imagine. And could someone please tell Frank Solich that when you are in the fourth quarter and down by 20 with 4th and 6, an off tackle play up the middle doesn't get it done.
Well, we pay our cash and move on.
With most of this final NFL week's games having no meaning, I plucked out the Browns +7 vs. the Steelers. I am sure by now that everyone has read that Cowher intends to start pulling starters early. However, he has said this in the past and not done it.
This time is quite different, with the bye and home field through the playoffs. I think you could see some early outs that will benefit a Browns team that showed character last week against the Titans, and the points are too good to pass up. Could be an outright win. Schvittzer, this might get you out of retirement.
Comments are appreciated at www.jimmyvaccaro.com or [email protected]. Also read the off shore report at www.legalwagerreport.com.
Daily free selections at 1-800-899-1122.
Thank you and let us all have a good year in all ways,
Jimmy Vaccaro