Vegas trying not to Gloat

Brock Landers · Jul 25, 2006

Vegas bookies not (quite) gloating

Books resist I-told-you-so admonition

BETTOR checks the odds at Caesars
Palace sports book in Las Vegas.

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07/25/2006 - by Mark Mayer

Las Vegas sports books are not openly gloating over recent government action against offshore betting, but they’re not shedding any tears either.
"Anytime bettors have money in offshore accounts, they’re taking a risk," said Eric St. Clair, director of race and sports for Cannery and Rampart Casinos. "It’s a buyer beware situation. Of course, it’s never good news when anything involving wagering has a negative connotation."
Last week, the U.S. Department of Justice charged 11 people, including BetOnSports CEO David Carruthers, with conspiracy, racketeering and fraud for taking sports bets from the United States.
"I can’t really comment on that situation since I don’t know the particulars, but better there than here," St. Clair said. "People have to do their homework in making a bet and the best place to wager is Las Vegas, where the integrity of the game is utmost and foremost.
"The Nevada Gaming Control Board is the best entity in regulating the industry," St. Clair continued. "Offshore takes away a lot of high-end business from us and doesn’t have to deal with Rule 6A because it is unregulated. Bettors can wager a lot more overseas without having the amounts reported to the government and their names associated with the wager. This just shows that it’s better to do business in Las Vegas."
Suncoast race and sports director Eddie Ricca also noted that offshore wagering is a threat to Las Vegas.
"They have the world to work with," Ricca said. "There’s no difference how offshores are handled compared to the bookmakers that operate out of Chicago and New York. Here, everything is regulated, genuine and clean. Unfortunately, the whole world can’t move to Vegas. We are the pinnacle."
BetOnSports, based in Costa Rica, posted a 65 percent gain in profits and handled close to $2 billion worth of bets for the fiscal year ending Feb. 5, according to an Associated Press report.
"The offshore has nothing to do with us," said John Avello, director of race and sports operations at Wynn Las Vegas. "The offshore has a tremendous clientele, but it really doesn’t affect Las Vegas. So, I don’t pay attention to it.
"I’m not sure what the legal procedures are to knock the offshores out," Avello continued. "Business goes on in Las Vegas with or without them. The only way to bet is to bet in Nevada."
Avello said he’s in a very comfortable situation working in Las Vegas, where sports betting is highly regulated.
"I could see where there would be a bit of envy in Vegas, which is restricted to Nevada bettors compared to the offshore where the world can bet," Avello said. "But, offshore isn’t competition for us."
If the Department of Justice has its way, it may not be competition for anyone

Brock Landers · Jul 25, 2006

The part about not paying attenton to it is one of the biggest jokes i have read in a while LOL

da1prophet · Jul 25, 2006

The whole mentality of Vegas bookmakers is very counterproductive. I get the part about potentially taking money out of their pockets, but if the Fundamentalist kooks get their way offshore its not like Vegas is safe. I seem to remember an effort to ban wagering on college sports a couple of years ago...

Longterm, the best thing for Vegas bookmakers to do is to acknowledge the influence and validity of the better offshore shops. When I listen to a show like "The Stardust Line" and hear them try to allude to an offshore line as being posted in a "far away tropical place" it just makes them sound like morons...

They just need to take a gander across the casino at the packed poker room to see how they could benefit from offshore wagering...

GreenDoberman · Jul 25, 2006

HAHAHAHAHA, No comment.
Boy I wish I could say what I really felt.

Nice picture of the odds, what from the WBC oh about 5 months ago.

GreenDoberman · Jul 25, 2006

The only good part about Gaming Today this week is Carlota on page 3. She is one of our Palace Princesses.

oldirtyku · Jul 25, 2006

Vegas wants online sports betting to be legal.

Do you know how much ceasers.com or stardust.com would make if you could bet on sports? Offshore would no longer exist.

WildBill · Jul 25, 2006

I didn't even bother reading the article once I saw the all-important words "by Mark Mayer". You guys think I am a stiff for a writer, you should hear what people in the industry around Vegas say about this guy. And that is his real job!

Horseshoe · Jul 25, 2006

Disappointed to say the least to hear such a stance by a seasoned vet like John Avello, but as for the Mickey Mouse Fluff-Article-Journalist and the other two No-Name LV BMs..par-for-the-course.

Last week in LV, I stopped into the being-renovated Planet Hollywood, their Mgr said they go off CRIS opening numbers, and yet despite offering no WNBA, still had decent limits.

Caesars Palace, unlike many other fellow LV joints, will grant you $20 rewards tab for every 1K wagered in the Sportsbook, good for say any restraunt via their Harrah's Total Rewards card. I rolled up $100 in rewards in just 2 hours of betting the ponies, and though not like the old days, 'twas better than many other's treatment of modern day sportsbettors.

WildBill · Jul 26, 2006

Ok, I bit and read the article. What do you expect these guys to say? They have been told before that consulting offshore books and sources like Don Best is not explicitly illegal, but could be an issue since it is considered associating with criminal activity. This nugget of genius came from a gaming control board member. So for awhile the books all kept their Don Best screens in the back office and kept paying dutifully to Kenny White to get their openers. But for them to claim they pay no attention to it is a joke. They don't really compete with them, I will give them that, but to say it doesn't affect them is like a Chevy dealer saying what the Honda dealer in town offers makes no difference to him.

JoeFalls · Jul 26, 2006

GreenDoberman said:
HAHAHAHAHA, No comment.
Boy I wish I could say what I really felt.

Nice picture of the odds, what from the WBC oh about 5 months ago.

wish i would've taken some of that korea +350

:Sad Face:

beetman · Jul 26, 2006

I've had more money stolen from me by Las Vegas sportsbooks than online ones! I've never lost any money to an online sportsbook, but I've been shortchanged by Las Vegas sportsbooks before and didn't realize it until I'd walked away from the window.