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MVP Sportsbook First Annual Golf Invitational for sports handicappers proves a huge success

Christopher Costigan, www.sports911.com


First off, I want to start by saying that the MVP Sportsbook First Annual Golf Invitational was one of the most carefully orchestrated events I have ever attended within the industry. To say it came off flawless would be an understatement. Sure a few of those in attendance got food poisoning from some bad shrimp on the second to last day and another participant ended up with a serious case of crabs (we're not talking the type that might cause food poisoning here either), but these things do happen and simply cannot be avoided.

We were treated like royalty the entire weekend while in Costa Rica. Dalton Wagner, CEO and founder of MVP Sportsbook, even arranged to have the country's secret service tag along with us upon venturing into town.

Here is one of the points I would like to make that might shock a lot of Sports911 readers. Getting a bunch of sports handicappers together for a weekend might seem like a fiery proposition. After all, touts (as they are often referred to as) are often seen as overly confident and at times arrogant. Consider Wayne Root for example and you can quickly understand what I am referring to. One would also expect quite a bit of fighting among the various sports handicappers, all of whom are likely to think they are better than the next guy.

This group, however, was far from the expected stereotype. Dalton has aligned himself with some really good guys and if anything can be gained from this weekend, I feel this is one of the most valuable revelations. Nearly everyone I met was level headed, cordial and placed great value on their clients well being. These guys as a whole were a far cry from the Wayne Roots and Kelso Sturgin's of the world, and for the MVP Sportsbook organization, this is a tremendous plus.

Wagner places great value in the relationship he has with these handicappers, for whom he considers "partners in the business".

"We are looking for partners," Wagner stated during a sports handicapping workshop held at the fabulous Los Suenos Marriott Resort. "I don't know squat about handicapping, I just want you guys to bring me clients."

Dalton explained that his company looks for poor to average looking websites that MVP Sportsbook can help to build and hopefully make profitable for both parties, hence the partnership.

"If you can help me come up with ideas, we will invest the money."

And Wagner is far from shy when it comes to such investments. His organization looks for $250 a head conversion for every client sent in. This is the average cost of acquiring a player for most post up operations.

"We will gladly invest $1000 for your site (per month) provided you bring us at least four players," Wagner stated, alluding to the 4 x 250 formula.

One of the more flamboyant figures among the group was Dave Scandalioto, better known as Meat and Potatoes. The "Meatpot", another nick given to him, emerged as a top handicapper way back when America Online featured its very popular "Post Your Picks". Scandalioto's website and radio broadcasts net MVP Sportsbook a nice chunk of change, enough so that Wagner is willing to invest anywhere from $10,000 to $12,000 per month on the show.

Mike Foreman, Marketing Manager for MVP Sportsbook, admits he did not think much of the Meatpot's initial proposal.

"I wasn't going to even look at it originally," Foreman said. "But this guy was such a great promoter on his radio show, this was something we couldn't turn down."

Scandalioto shows a genuine love for his audience, and this really came through during the course of the weekend. It is no wonder he delivers so effectively.

These are the types of people Dalton, Mike and the gang are looking to align themselves with. And, outside of the possible exception of Yours Truly, they tend to stay clear of potential troublemakers.

It All Happened By Accident

Dalton Wagner did not come to Costa Rica back in 1998 looking to open an online sportsbook. In fact, Wagner knew nothing about bookmaking and might not be the most adept person when it comes to sports either.

Back then Wagner was running one of the largest headhunting firms in Dallas, Texas, a very lucrative business that allowed him to easily take in a mid-200,000 figure annual salary.

"I did not like it though," Wagner disclosed. He would later leave his chosen profession after a chance encounter while in Costa Rica.

One of his recruits, a workhorse by the name of Mathew, trotted along for the journey to Costa Rica. Both men brought their wives as well.

While playing cards in the Intercontinental Casino and getting a bit hammered in the process, they came across two Americans who said they now lived in Costa Rica.

"Back then it was rare for Gringos to live in Costa Rica," Wagner said.

The two men turned out to be none other than Scott Barrett and Mike Hale, the original founders of Betmaker.

"Scott Barrett came down (to Costa Rica) with six credit cards and ended up selling his company for $20 million. We did not know a thing about bookmaking, then we get home to see Scott and Mike in GQ Magazine. I was barely a sports bettor. We are business people."

Dalton and Mathew soon packed up all their belongings and along with their wives moved down to Costa Rica for good. Like Scott Barrett, they were undercapitalized so they chose to partner up with someone else who was undercapitalized (if that makes any sense), a gentleman by the name of Leo who from that day forward would set the lines for MVP. They also had help along the way from one of the major offshore players, BetonSports.

In the early days, Wagner's company was known as "The one behind the locked black door in the Mall San Pedro". Many of us familiar with the complex used to wonder what secretive outfit lay hidden behind that door. It is here where BetonSports rules and MVP was able to rent a small amount of space from them. Dalton also disclosed how he hired his first employees after interviewing them in the lower level food court.

His newly formed company originally launched Players Superbook as a wagering call center. After consulting with leading industry analyst, Buzz Daly, Wagner started one of the first internet-only books, V-Wager. Dalton points out that Buzz Daly advised him at the time there might not be a market for a strictly online sportsbook. They soon found out otherwise as V-Wager became a huge success.

Last year, Wagner moved his company into a sprawling two story complex across the street from the Mall San Pedro.

"I Have Always Dreamed of the Guy Sitting There Who Says: 'I Have the money if you have the ideas, let's work together'. This is the MVP Sportsbook Philosophy

Joe Duffy was practically a "nobody" before MVP Sportsbook came along and discovered this true talent. He was a controversial figure on the various posting forums.

"He would get a lot of flack for calling himself Mike Godsey and naming his service after God, God's Picks," Wagner said.

After joining forces with MVP, Duffy quit his day job and launched his own website. He modeled his company after that of big name tout, Stu Feiner, but hated the boiler room mentality.

Duffy was chosen as MVP Sportsbook's most valued partner this year.

Wagner expressed three goals he set out to accomplish with this much heralded event. First, he wanted to review past success. Second, he wanted to encourage future success. Thirdly and wanted to make sure that everyone understood his company's commitment to their business partners.

"We will be spending a minimum of $6.5 million on marketing this year," Wagner disclosed. "I can convert you in addition to getting the $250.00 per head. Rather than spend money on expensive print and radio ads, I would prefer to spend money on you if you have ideas that are worthwhile. Put together a mini business plan and we are ready to pay you."

Wagner has witnessed his fair share of models failing. That does not appear to be one of his major concerns. He would much rather learn this on his own, but you can't learn from not trying.

A Conflict of Interest?

One might ask why if someone is a decent handicapper a sportsbook would want to team up with them. The answer is simple. Bettors are not that good.

If you give a bettor a straight play, they are likely to stick it in a parlay with two other players, one of which is bound to lose.

Mike Mumbauer, otherwise known as The Animal from AnimalSportsPicks, also brought up an interesting fact.

"Some clients bet every game on the board."

They also bet other handicapper's plays.

Wagner's company helps in the promotion and site building. He does not share in any of the revenue derived by handicapper's picks.

"If I took your handicapping revenue that would be a huge conflict of interest," Dalton explained.

In the meantime, Wagner's company continues to grow. This week he debuted a "Pay per head" format that allows other bookmakers and interested parties who have their own players to utilize MVP Sportsbook's services in writing up wagers.

The company is likely to witness continued growth over the next few years. Already, Sports911 ranks MVP Sportsbook among the top 5 largest wagering operations offshore today.
 

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