Nevada Made More Money On Baskets Than Foots Last Year

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02-13-12, 03:49 PM
jjgold

Nevada Made More Money On Baskets Than Foots Last Year

Nevada Casinos won $44.2 million (3.3% hold) in the football category, which includes both college and pro, according to Nevada Gaming Control Board statewide numbers released last week. Meanwhile, pro and college basketball brought in $48.8 million (6.6%) combined to the bottom line showing just how important these next two months are to the sports books.
Granted, parlay cards generated $17.6 million in win for a whopping 28% hold -- the majority of play of which comes during football season, and football also wrote more action on the year. But many people are astonished to believe that basketball actually has that type of impact on a comparative level with football in the sports books.
02-13-12, 03:51 PM
Jaug

28% hold on parlays :surrender:
02-13-12, 03:54 PM
Reload

More games, more $$$ overall. The volume from all of March Madness alone would add up to more than what's taken on the Super Bowl.
02-13-12, 03:58 PM
Smoke

Good find Mike..
02-13-12, 04:00 PM
wantitall4moi

still nothing. Vegas Casinos make about 11 BILLION a year combined overall, sportsbooks account for 140 million of that. So just a little more than 1%. So despite all the hype about sports and the money spent on sports collectively by all the networks penny slots make the books about 20 times as much.
02-14-12, 08:09 AM
BigdaddyQH

And people wonder why pros know that Parlays and Teasers are sucker wagers.
02-14-12, 08:15 AM
d2bets

Quote:

Originally Posted by wantitall4moi

still nothing. Vegas Casinos make about 11 BILLION a year combined overall, sportsbooks account for 140 million of that. So just a little more than 1%. So despite all the hype about sports and the money spent on sports collectively by all the networks penny slots make the books about 20 times as much.

Absolutely. They make more money off sports betting from the foot traffic that it brings in during big events, not from the actual gambling itself.
02-14-12, 08:23 AM
CappinTerp

jj do you happen to know the baseball numbers.?
02-14-12, 08:32 AM
wantitall4moi

Quote:

Originally Posted by d2bets

Absolutely. They make more money off sports betting from the foot traffic that it brings in during big events, not from the actual gambling itself.

Yup a guy goes in to bet a few $5 parlay cards but loses 50 bucks in a slot machine or at a roulette table.

Most people dont get it, they think sports betting is big business. It is world wide and on the illegal side. Trick is to get it legalized everywhere and reap the fruits of the whole tree. But most analysts and economists or any other 'ist' you want to name dont think 5-8% is enough. Horse tracks cant make it on 30%, and horse racing is still bigger than sports gambling. Lotteries and powerballs and all that other shit is well hidden and the handle and hold isnt widely known, plus it has the promise of a huge pay off at the end. Sports is a grind or a pass time. Which people get their fill of illegally for the most part.

So legalizing sports betting isnt worthwhile for the most part. The taxes on it just arent there. Even if they can get 100 billion in action, and books profit say 7 billion a year what is the government likely to expect to get in taxes? Even if its 15% thats only a billion dollars. Sounds like a lot of money but when you see that the debt is 15 trillion, 1 billion isnt even going to register. That number itself is even assuming a lot. Lie a 7% hold and 100 billion in handle, neither of which are highly likely. But used as a 'simple' math ratio.
02-14-12, 08:57 AM
Tower

Quote:

Originally Posted by wantitall4moi

Yup a guy goes in to bet a few $5 parlay cards but loses 50 bucks in a slot machine or at a roulette table.

Most people dont get it, they think sports betting is big business. It is world wide and on the illegal side. Trick is to get it legalized everywhere and reap the fruits of the whole tree. But most analysts and economists or any other 'ist' you want to name dont think 5-8% is enough. Horse tracks cant make it on 30%, and horse racing is still bigger than sports gambling. Lotteries and powerballs and all that other shit is well hidden and the handle and hold isnt widely known, plus it has the promise of a huge pay off at the end. Sports is a grind or a pass time. Which people get their fill of illegally for the most part.

So legalizing sports betting isnt worthwhile for the most part. The taxes on it just arent there. Even if they can get 100 billion in action, and books profit say 7 billion a year what is the government likely to expect to get in taxes? Even if its 15% thats only a billion dollars. Sounds like a lot of money but when you see that the debt is 15 trillion, 1 billion isnt even going to register. That number itself is even assuming a lot. Lie a 7% hold and 100 billion in handle, neither of which are highly likely. But used as a 'simple' math ratio.

I agree with most of that, but you also have to incorporate how much of an increase you would see in gambling if it was legalized. You would be naive to think that it wouldn't increase. A lot of people I know don't gamble for many reasons, legality, morality, hard to get money in and out of online books, don't trust them.. etc... Now how much that number would increase is another argument. would it be 2 fold? 10 fold?? 50 fold??
02-14-12, 09:07 AM
smoke a bowl

Quote:

Originally Posted by Jaug

28% hold on parlays :surrender:

Parlay cards, big difference. I'm sure they are holding between 3-8% on regular parlay action.
02-14-12, 09:12 AM
wantitall4moi

Quote:

Originally Posted by Tower

I agree with most of that, but you also have to incorporate how much of an increase you would see in gambling if it was legalized. You would be naive to think that it wouldn't increase. A lot of people I know don't gamble for many reasons, legality, morality, hard to get money in and out of online books, don't trust them.. etc... Now how much that number would increase is another argument. would it be 2 fold? 10 fold?? 50 fold??

Vegas had a good year and took in a little over 100 billion is wagers. But if it were legal everywhere how much woud their handle drop and how much would it go up everywhere else? THAT is the $64K question.

A lot of way to do it. Allow anyone with money to open an internet book, have it be vegas only brick and mortar with internet access. Or any combination. But how much would it increase? Maybe 2 or 3 times since it would be new and a novelty. To think everyone everywhere would start betting on sports is a little foolish. But you might get 50-100 bux a month out of a few people here and there.

I would also contend that a lot of the 'illegal' guys have agents in Vegas so part of that 100 Billion bet there legally is made by guys laying off illegal handles. So all the talk abot how much money is wagered illegally is up for debate and I think it overestimated simply to romanticize it. Back 10-15 years ago sure. But so many big time bookies have been arrested and ratted out the illegal side has taken massive his.

But even if it came to 500 billion and the government could get a full 2% of it, that is still 'only' 10 billion' dollars. Thats still 1/10 of what Vegas casinos made last year over all.

Like I said guys who have access to everything we guess about have more than likely looked at this a hundred ways. Since it is not legalized and barely getting any run whatsoever it isnt something the government feels they can exploit. They can raise tax on a gallon of gas by a penny and make more.