Both players denied ever tanking in games; neither Cobb nor Sweeney were indicted. Kuhn, the acknowledged ringleader on the team, pleaded guilty and was sentenced to 10 years in prison but only served 28 months. A Tulane student and a couple of friends approached player Clyde Eads with the idea of having Tulane fail to cover the spread in a game against Southern Mississippi. Before long Eads had approached some teammates to help and all accepted payments for that game — in which Tulane won but did not cover, paying out the bet — plus a couple of other games later in the season.
By the end of the season, talk of possible match fixing was rampant and New Orleans District Attorney Harry Connick the father of the famed singer made several arrests, including Williams. Coach Ned Fowler and two assistants admitted that they had paid players. School president Dr. Eamon Kelly decided to drop basketball and the Green Wave played no games from the spring of until the season, when the school revived the program.
He died in One of the most recent point-fixing scandals in college athletics involved Toledo football and basketball players in the early s. The Rockets had three football players involved in a sports bribery scheme dating to Two other football players pleaded guilty to conspiracy charges, as did four former Rockets basketball players.
All seven athletes received probation; Manni was sentenced to six years in prison for bribing athletes to fix games, among other charges. Northwestern football was bad enough in the early s without any of its players taking money to try to alter point spreads, ensuring that the Wildcats would fail to cover college football betting lines.
But that happened anyway. The biggest name among several players implicated was Dennis Lundy, who rushed for 1, yards as a senior in Lundy was sentenced to one month in prison in after pleading guilty of perjury for lying to a grand jury that was investigating the Northwestern case. In all, four of his teammates were indicted for lying to the grand jury but only Lundy was accused of point shaving. Lundy briefly played in the NFL in There are many cases where an athlete got in trouble for gambling even though there was no evidence that doing so compromised any of the games he played.
The NFL suspended him in and he sat out what would have been his second pro season for sports gambling, mostly basketball but also college football. Yet among his dozens of arrests in the ensuing decades, mostly related to his gambling addiction, Schlichter has never been charged with betting on any games in which he played, nor of attempting to fix any games.
A much more recent case popped up when Arizona Cardinals cornerback Josh Shaw was suspended for the NFL season for betting on games in But Shaw was not with the team at the time he was on injured reserve and an investigation concluded that none of his teammates or team personnel knew he was betting on NFL games. Bet must be placed using real money in combination with the Odds Boost Token.
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But legalized gambling, boxing, effortless divorce and prostitution made Nevada an attractive tourist destination. The economic condition changed dramatically -- almost overnight -- once gambling was added to the state's coffers. While casino-style gambling was deemed legal, sports betting was still illegal until a regulation was passed by Congress in imposing a 10 percent tax on all sports bets. Of course, in an atmosphere that revolved around gambling, it was probably not difficult for visitors or residents to find someone to take a bet before the new law was passed.
But the new regulations allowed the bookmakers to come out from the shadows and work their trade openly in the public eye. The first legal sports books in Nevada were stand-alone shops which were independent from any of the large casinos. These small operations were sometimes referred to as 'sawdust rooms' because of the wood chips that were spread across the floor to soak up spilled beer and to remove some of the foul odors.
Betting options were posted on chalkboards and cigar smoke was heavy in the air. After the office in Minneapolis shut down, these turf clubs filled the oddsmaking void left by Hirschfield's departure from the industry and the first 'Las Vegas Line' was established.
It was during this time that a man named Jimmy 'The Greek' Snyder became the world's most visible linesmaker. Snyder, who formulated his numbers out of the Saratoga Club, was known by most industry experts as more of a public relations wiz than an astute oddsmaker.
He is, however, often credited as the being the individual that brought sports betting into the public eye like no other before him. Snyder, who ran his own PR firm, wrote a syndicated newspaper column that was published across the county and even landed a lucrative gig on the CBS-TV football pre-game show, where he would make his game selections live on the air every Sunday. That could never happen today. Some say that enterprising book operators found other illegal ways around the tax.
Despite the tax, the turf clubs evidently did quite well during the s and early s. It just kept rolling in. They were the only game in town and it was legit. As long as the hotels would stay out of the sports betting business, the turf clubs promised not to add casino games into their operations.
The two entities ran separately and in harmony until It was during that year that legislation was passed that would change sports betting in the state forever. The 10 percent federal tax imposed on sports bets was deemed unconstitutional and Congress agreed to lower the tax to just two percent.
It was a move that would also signal the beginning of the end for the turf clubs. The casinos had decided to stay out of the sports betting game because it didn't offer the high profit margin of other casino games like blackjack, roulette, craps and slot machines. But after the tax was lowered it would be dropped even further, to.
One of these men of vision was Rosenthal, the real life figure who was portrayed by Robert DeNiro in the movie "Casino. In , nearly every large property in the state has a sports book. Back in the mid s, after the new law was passed, the casino operators wasted no time in getting into the sports betting business. Books subsequently "sprang up like cactus" in the casinos, according to Rosenthal. Those two people had more to do with the way things are now than anybody.
Rosenthal created a plush environment for his customers with plenty of seating space and multiple television sets where patrons could keep tabs on their action. He replaced the old chalkboards with electronic boards to display up-to-the-minute on a multitude of sports. Rosenthal's vision for the potential success of the sports book for the overall bottom line of the casino was correct. Customers herded into his book and the casino started to see increases in revenue across the board. If you build an operation that contains horses and sports and do it properly and make it comfortable and luxurious, people will be coming in from various parts of the country.
The turf clubs were not able to compete and they all eventually shut down. With the exception of Little Caesars, which was operated by the late Gene Mayday and stayed in operation until the early s, the casinos rendered the turf clubs nearly obsolete by the mid s. But they couldn't change with the times because they couldn't buy hotels. The hotels could buy them. Martin had established a reputation as a shrewd oddsmaker.
According to Vaccaro, Martin was the "greatest bookmaker that ever wrote down a point spread. Clair, who is currently a Las Vegas bookmaker. In the s Roxborough emerged as a major force in the sports gambling world and he helped usher in the technological revolution.
Roxborough brought legitimacy to the industry as he portrayed an image of the businessman, as opposed to the street corner bookmaker type that had dominated sports betting for so long. While most other oddsmakers before him bet into their own lines, Roxy believed that practice was a conflict of interest and he stopped wagering completely when he started making the lines. Roxborough, who learned the trade during his formative years in Vancouver, B.
Roxborough soon gained a strong reputation throughout the industry and he eventually signed a lucrative contract with the Stardust in the early s to set their opening line. Las Vegas Sports Consultants, Inc. Roxborough took advantage of new technology that was available and used it to provide his customers with -- not only lines -- but also updated injury and weather information. According to Roxy, before LVSC was founded, if a bookmaker wanted to know what the weather was like in Cleveland they would have to call up a contact there and get the information via the telephone.
They would copy thousands of box scores into these notebooks for future reference. Roxborough was the first one in the industry to use a computer and electronics for the storage and transmission of data. As a result of these technological advances, the sports books were able to increase their offerings to the public. Due in large part to Roxborough's new computer-generated power ratings, the betting rotation expanded significantly.
The demand for the business to get bigger and the computerization allowed us to follow more teams and offer more reliable odds. By the time he sold the business in , the company had grown to be worth millions of dollars and it employed a full staff of employees. LVSC is still around today and is still the source of the numbers for most of the sportsbooks in Nevada.
The proliferation of the sports schedule and the resulting increase in handle created the need for bigger and better sportsbooks. The Mirage, designed by casino mogul Steve Wynn, opened in and was then considered the most extravagant hotel -- and sports book -- in Las Vegas. Vaccaro, who had previously helped open books at the Royal Inn and the Barbary Coast, was sought out by Wynn to help him develop and run the books at the Golden Nugget, located in downtown Las Vegas, and at the Mirage.
Vaccaro is often considered the last of the old-school bookmakers in Nevada as he took huge action and didn't turn away the professional bettors. We never refused a bet. The History of the Sports Gambling Industry: Present and Future Nevada sports books have been in a steady decline over the past decade.
According to the Nevada Gaming Control Board, revenues have dropped six out of the last seven years across the state. It is no secret that this can be attributed in part to the massive growth of the offshore industry. But critics of Nevada sports betting -- and Las Vegas in particular -- point to other factors as well.
The consolidation of the casinos by corporations has created an atmosphere where there are only a handful of sports books releasing their own numbers while the rest are just satellite offices of their main book. This reduces the opportunity to shop around for numbers and increases the attractiveness of offshore books where a wide variety of point spreads are available on a wide array of sports.
Some say that the government has over regulated the industry and that cash transaction reports requiring big players to identify themselves have scared off many of the larger bettors. Others say that sports book managers are in constant fear of their jobs and that, as a result, they are not willing to take any risk -- as opposed to the old-style bookmakers in Las Vegas who took any bet and relied on the strength of their numbers.
While the Stardust had the distinction of setting the 'opening line' for several decades, many offshore books release their numbers even earlier on the Internet.
Known as the Dean of Vegas Sports Betting, Barnhart utilizes proprietary research, advanced analytics and algorithms to reach sports betting guru status. Larry Ness - This Vegas legend is entering his 37th year atop the sports handicapping world.
Rocky Atkinson - Rocky takes a different approach for each sport he handicaps and believes in long-term profit over short-term rewards. Rocky holds several 1 finishes and places consistently in the top His most memorable streak was calling 17 consecutive NBA wins. Penny - A professional handicapper since the early 80s, AJ has been beating the sportsbooks long before he turned pro. Jim Feist - Jim has been a leader in the business and sports handicapping world for five decades.
Beginning in the '70s Jim launched National Sports Services, utilizing the first telephone line services and Sports Tracker, the former publisher of the Official Nevada Rotation. He also hosted and produced "ProLine", the longest running sports handicapping show in America. Jim has won numerous handicapping contests, including the Stardust Championship "Winner Takes All" and twice won first place in the Philadelphia Inquirer's Handicapping Contest.
Our consumers will have access to the greatest group of consistent winners imaginable. In , the United States Supreme Court decision allowing States to legalize sports betting has changed everything, creating tremendous opportunity. Twenty-two states plus Washington DC. GoooGreen, Inc. Revenues are expected to accelerate due to the explosion of sports handicapping arising from the Supreme Court decision that States have the right to approve sports gambling and the resulting State by State rapid approval of sports gambling.
Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks.
Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. He appeared on all three major network nightly news shows as well as "Nightline," "Crossfire" and "The McLaughlin Group" , and in he was No.
I caught up with Roxborough over the summer to discuss his roots, his career and whether he sees sports betting being legalized on a national level anytime soon. A redheaded kid from British Columbia, Canada, Roxborough's education took place partly at Exhibition Park in Vancouver, as he had an early love of horse racing. Nowadays he's spending his retirement in Bangkok, Thailand, but he usually returns to the U.
In the late s and early 70's, the long-haired hippie attended American University in Washington, D. Roxborough dabbled in bookmaking on campus and learned a valuable early lesson in risk management. In , he didn't think the expansion New York Mets would win the World Series, so he took a bunch of futures bets from New York homers on the team that would become known as the "Miracle Mets. He returned to Vancouver and was booking there, but like so many bookmakers and bettors, he was drawn to Las Vegas -- a place where he could legally ply his trade.
He visited Vegas off and on and finally moved there in At that time, Bob Martin was the pre-eminent oddsmaker in Las Vegas and the country. He put up his openers at the Union Plaza in downtown Vegas and other books would use them before they spread all over the country.
In , Martin was convicted of violating the Wire Act by transmitting betting information across state lines a story for another day , which left a hole in the market. I didn't know every casino was going to add a sportsbook and allow my business to grow the way it did. It also helped that the excise tax the IRS levied on every legal sports bet was lowered from 10 percent to 2 percent during the '70s, and again to 0.
Prior to that, it wasn't feasible for casinos to have sportsbooks on their property, but the lowering of the excise tax opened the floodgates, and Roxborough rode the wave. I remember buying my first fax machine in The problem was, very few sportsbooks had fax machines, so I had to send to the corporate offices. They either had to have someone constantly running back and forth to the administrative offices, or they'd get it the next day in the interoffice mail.
That doesn't work [well] in a sports betting environment. And of course every book wanted to know where they were on the calling list because time is money. Roxborough said Las Vegas Sports Consultants merged with DBC Sports, a data broadcasting company, in , and linked all the sportsbooks by computer so they could see real-time line moves at other properties.
At first, computers were used to store all the data that in the old days was compiled in loose-leaf notebooks, but then oddsmakers began to incorporate them into their handicapping by using them to search for trends and run programmable power ratings. LVSC provided odds for 90 percent of Nevada's sportsbooks and, Roxborough said, its competitors didn't have the resources to keep up.
Even though he's technically been out of the business for 16 years though he's done some consulting work and maintained most of his contacts , he follows the developments of the industry and the moves towards legalization, especially the efforts in New Jersey. He has a unique perspective on that, as he was firmly entrenched as the nation's top oddsmaker when New Jersey had the chance to replace Nevada as the country's sports betting capital.
Roxborough didn't go as far as to rename the company New Jersey Sports Consultants, but he scouted out office space at Atlantic City Race Track and the Boardwalk, and he started hunting for a house. We would have had to get licensed, but since we were licensed in Nevada we would've had a leg up on any competition and locked up most of the casinos. With the three-hour time difference, you know the Jersey books wouldn't have waited for Vegas books to open, so the opening lines would have come from New Jersey, just like ended up happening later with the offshore books in the Caribbean.
In the unknown world of sports and sports betting, this was as close to a lock as you were ever going to see. However, in a major upset, New Jersey dropped the ball as the bill, opposed heavily by the NFL, stalled in the New Jersey Assembly and died in committee. The Professional and Amateur Sports Protection Act -- the law the state has spent the last few years trying to overturn to get back in the game -- passed in without an exemption for New Jersey.
But though it's easy to be critical of what New Jersey did or didn't do , Roxborough said Nevada wasn't perfect in its handling of sports betting, especially when the offshore sportsbook industry popped up in the late s. State regulators were leery about the legality of Internet wagering and prohibited land-based casino companies from getting involved, even though the feeling has always been that customers would much rather send their money to a well-known, brand-name Vegas casino than an offshore outfit whose owners mostly lurked in the shadows.
As for whether he thinks New Jersey will get sports betting or if it will be legalized nationally, Roxborough is skeptical on both counts. Fast forward 42 years, and Nevada is still the only state -- or province for that matter -- that accepts legal sports betting on single games. But Roxy adds that even if sports betting is legalized, it will be hard to make it economically feasible for sportsbooks to operate effectively and offer fair or even attractive odds.
Nevada pays the lowest tax of any sports betting jurisdiction worldwide. On sports bets, 0. There is no way that will be a model for the rest of the country if Congress or even other states pass legal sports betting. Taxes will be [higher]. Like Voltaire loosely said, 'You don't want to see how the law is made.
The illegal bookies will be more competitive. Roxy says a better system would be to have something more like a betting exchange such as Betfair, but that system won't work either if the government or the leagues are asking for a big piece of that pie.
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His most memorable streak was calling 17 consecutive NBA wins. Penny - A professional handicapper since the early 80s, AJ has been beating the sportsbooks long before he turned pro. Jim Feist - Jim has been a leader in the business and sports handicapping world for five decades. Beginning in the '70s Jim launched National Sports Services, utilizing the first telephone line services and Sports Tracker, the former publisher of the Official Nevada Rotation.
He also hosted and produced "ProLine", the longest running sports handicapping show in America. Jim has won numerous handicapping contests, including the Stardust Championship "Winner Takes All" and twice won first place in the Philadelphia Inquirer's Handicapping Contest.
Our consumers will have access to the greatest group of consistent winners imaginable. In , the United States Supreme Court decision allowing States to legalize sports betting has changed everything, creating tremendous opportunity.
Twenty-two states plus Washington DC. GoooGreen, Inc. Revenues are expected to accelerate due to the explosion of sports handicapping arising from the Supreme Court decision that States have the right to approve sports gambling and the resulting State by State rapid approval of sports gambling. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements.
These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks.
Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
Much of their business was being done with online offshore sportsbooks, most of which were located in Costa Rica. Many of the proprietors of the websites headquartered there were people who had learned the business as illegal bookmakers in the United States. Spanky flew down and worked out deals with the bookmakers to give him credit, rather than requiring him to post large sums of money and cash out through e-wallets like Neteller every time he won. If he could bet on credit, they could settle up stateside in cash.
And bookmaking in Costa Rica was legal. So nobody was doing anything wrong, they figured. One day, while Spanky awaited the birth of his daughter in the hospital, his partner went to a Dunkin Donuts to pick up some money an offshore book owed them. Then, as they got in their cars to leave, they were surrounded by police officers with their guns drawn. Trap door? For what? The other employees, shaken, followed him out the door.
He even expanded his operation beyond middling games, and together with his new brain trust developed new models that allowed him to take positions on games. Fundamental analysis is handicapping. You make numbers. Technical analysis, you look at the market. His team started spending their days watching screens with lines from sportsbooks all over the world, and using finely tuned models to analyze the various line movements and interpret what they meant.
In some ways it was similar to what day traders might do in the stock market. By , middling and steam betting had made Spanky what he deemed a fortune, and he had made a name for himself. After Congress passed the Unlawful Internet Gambling Enforcement Act in , it became next to impossible for American gamblers to deposit and withdraw money from offshore gambling sites.
Not all bookmakers decamped from the Caribbean, however. Those who stayed behind had to largely forgo doing business with the American market. Johnny Aitken, who went from working as a runner for a major gambling syndicate in Australia all the way up to becoming CEO of the Australia-based sportsbook PointsBet, watched it happen.
But recreational gamblers either get lucky and win or they go broke, and if they get too lucky, too often they get banned. Either way there is a law of diminishing returns for the bookmaker who will tolerate no risk, unless that bookmaker can continually locate new, untapped pools of players, like an energy company constantly looking for new pockets of oil or gas buried beneath the shale. These became the two prevailing models of bookmaking. On one side were the European-style books. On the other side were companies like Pinnacle, who offered lower odds and took on larger bets.
Pinnacle and BetCRIS were known to let certain sharp players bet their lines before they went public. One side gets a bet at house limits, the other side gets valuable information. This is the way it worked for many years, more or less.
But according to Peabody, the days of posted limits and sharp players being able to bet started to end when William Hill arrived in Nevada. Of the physical sportsbooks in Nevada, William Hill operates more than If someone is good enough to beat you why not use that information internally?
Take the bet at a smaller amount and use it to move your line. It is completely false to say that we ban people simply for winning. There are literally tens of thousands of customers in Nevada that are winners at William Hill. In the rare situation where we do prohibit someone from wagering with us, there are a variety of reasons why. If someone tells you that the reason that they are prohibited from wagering with William Hill is because they are winning, they are not telling you the whole story.
Total, total, utter bullshit and you can quote me on that. By , Spanky says he was allowed to bet directly in only five places in the entire world. He had three kids, with a fourth on the way. His business had been profitable and predictable. His employees were happy. He was becoming a wealthy man. But the European-style changes in the market could potentially kill his livelihood.
That meant that he needed to keep millions of dollars in action to earn enough to support his family and his employees. And with so many sportsbooks refusing his action, he needed to get creative. They would provide Spanky with their own accounts to bet into with other bookmakers, and they could split the proceeds. These bookmakers already knew he was a winning player, and most leaped at the opportunity to make a profit off his plays, while at the same time taking a bite out of their competition.
Bookmakers were more skittish about taking on risk than Spanky had ever seen before. With so little independent data and analysis of their own lines, bookmakers were flinching at every shadow. I give him the money and take the betslip, then return to my chair in the front row. The game then appears on the screen, only the line is now Xavier They should have given Toledo MORE points, not fewer, to get someone to take the other side of the game and balance out my bet.
Instead, by moving the line in my direction, they were trying to entice me to bet more! I clutch my backpack and go back up to the counter to speak to the manager. He punches it into the computer and waits for word from the trading office in Las Vegas. When I return to my seat, the game flashes again, and this time the line goes back to Back to the counter, and another bet approved.
This time, the line moves to You can keep sending people with new names and fresh money. He was betting much smaller amounts. Instead of reacting to my bet, William Hill reacted to the lines moving at all the places Spanky was betting, from -5 to When I left the casino the line was already at One of the people Spanky partnered with in to make bets for him was a bookmaker in Allentown, New Jersey. Investigators overheard Spanky talking to the bookmaker about money he was owed.
I was just a bettor. Through those wiretaps, investigators traced an intricate web of bookies and bettors that stretched across the globe, and involved both illegal street bookies and a major Wall Street financial firm, Cantor Fitzgerald.
They took him away in handcuffs. In all, they arrested 25 people in five states. Spanky says he was a victim of a misunderstanding about how his business worked, that he was mistaken for a bookmaker when he was merely a bettor. He was placing bets through so many accounts and with so many partners, often with bookmakers who themselves were operating illegally in the United States, that it created a confusing web of cash moving back and forth among many parties on both sides of the law.
In all, Spanky was charged with enterprise corruption; fourth-, third-, second-, and first-degree money laundering; first-degree promoting gambling; and fourth- and fifth-degree conspiracy. As Spanky and Mike sat in jail, they contemplated their future. Perhaps they should get out of the gambling business.
Mike suggested they open up a hot dog stand. He took his first break from betting in 12 years. He joined a touch football league. He played in board game tournaments. Eventually he wondered what he was doing with his life. This is all I know how to do. His Princeton guys got scared and quit.
His betting partners worried he was hot, maybe working with the feds. And his wife was terrified the police might come kicking in the door again. She asked him to promise it would never happen. What he could promise her was that he would live his life out in the open. There would never again be any doubt which side of the counter he was on.
Over the next few years, Spanky and Mike worked hard to build their business back up. They started betting again, building their bankroll back up. They had a few good football seasons. Things appeared to be getting back on track for them. It was like a dream come true. The work that Spanky had done his entire life—work that once required him to hide his identity, to meet people in back alleys to trade sacks of cash, work that led to his phones being tapped, his nest egg being confiscated, and his reputation dragged through the mud—he would finally be able to do with his head held high.
Showing astute foresight, William Hill signed a deal with Monmouth Park in , a full five years before the PASPA decision, at a time when few people were predicting the law would be overturned. But Mike thought it was worth a shot. The first day Spanky arrived at Monmouth Park, the place was packed, and people were betting with both hands.
Could it be possible that bookmaking in New Jersey was going to be a return to the good old days? Spanky interrogated the manager for the video. From then on, Spanky was a man on a mission. As each new sportsbook opened in New Jersey, Spanky showed up. Each time he negotiated bet limits. Each time he was welcomed by the sportsbooks with open arms.
Casinos usually salivate over players willing to bet large amounts, wining and dining them and putting them up in free suites. The new sportsbooks in New Jersey were no different. Four weeks I was there. Once I started winning, I had a big weekend and held 32 percent, they cut me off.
Sometimes it was after a week of taking his bets. Sometimes within a couple of days. Each time he recorded it and posted the videos on Twitter. Each time his followers grew, cheering him on. After Pennsylvania legalized bookmaking and Parx Casino opened its sportsbook, Spanky tweeted that he was planning to go check it out.
Not every sportsbook in New Jersey has banned Spanky. The Hard Rock, the most recent sportsbook to open in Atlantic City, welcomes his action. He was the manager of the famed Stardust sportsbook in Las Vegas in the s and early s. While others are run by large international conglomerates pooling money from bets taken all over the world, the Hard Rock is backing the sports bets it takes with its own money.
Johnny Aitken at PointsBet is also hoping to make a big splash in New Jersey by going against the grain and allowing sharp players to bet big, and he hopes it will even help give his book an edge. The three-day event was a trade show for the technology and data companies, many of whom are European, that hope to break into the fledgling American market.
Data and technology are the driving forces in sports gambling now, more closely resembling a bizzaro version of Wall Street. Bookies are now traders. Bets are positions. Instead of talking about fumbles or points or vig or juice, you hear talk of Python and stacks and hold and risk. Old-school bookmakers are being replaced by algorithms that do the work once done by armies of traders, whose jobs are now to oversee the systems that power the trading floor. Well, I call them traitors.
Gambling, it seems, is only what the customer is doing. Gambling is for suckers. It is simply finance. And it must never, ever lose money. Now these guys who run these casinos do not even gamble. Jon Kaplowitz, the head of interactive for Penn National Gaming, which is partnered with William Hill, was asked about their risk management strategy.
I myself have personally been kicked out of all of your sportsbooks, as well as several of my colleagues, for the action being quote-unquote too sharp. After some uncomfortable snickers from the audience, and an answer from Kaplowitz about how he has to manage between giving customers a great experience and making a profit, Asher grumpily responds. Later that evening, one conference attendee tells me he heard Spanky threatened to go after Asher with a baseball bat. When I tell him what Spanky actually said, the man seems a little disappointed.
And other gamblers were patting him on the back and thanking him for taking a stand against the greedy corporations. Long gone were the days of bettors grousing about his steam play, of calling him a bottom feeder. Spanky Kyrollos, however, knows a guy, and we get in no problem. All of the bets I made were either for games the following day or games currently being played. My work is already done. The couple at the table next to ours interrupts Spanky.
They recognize him. Spanky is gregarious in chatting with them. If there is such a thing as New Jersey charm, Spanky exudes it.
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