Does Vegas try to suppress the offshore industry?

[5teamparlay]

I don't think Vegas cares too much in general. Plenty of online sportsbooks adds can be found all ove the publications they give OUT IN THEIR VERY OWN SPORTSBOOKS and poker rooms.

 

[redpimp]

No kidding. I'm still scratching me head on that one. I don't think the guy was a serious gambler, just your typical square that likes to bet because he loves sports and lives in a gambling culture. But still, I am with you on that.

There are plenty of vegas long time gamblers who have never heard of off shores or dont know that much about them....Walk into the stardust on any given saturday and you will find many a degenerate who knows nothing about offshores. Many people still are computer illiterate and can not trust some book in Managua with their money. (It took me a long time too before i became that trusting....more like my bank roll grew and forced me off shore)

Thats another thing you have to contemplate....I would wager that most of the vegas players are dime players or less (i would say about 95%) I have walked into a casino and asked to play a dime only to see the clerks gasping and acting like i was a some loaded gambler (which i am not, at least not yet)


Lastly, i thought the question he asked was about if Vegas tries to supress offshores... YES THEY DO!!!!!!! ARE YOU KIDDING ME?


Who do you think was behind those attempts to americans from doing business with offshores (the recent WTO ruling that the US goverment was in violation of WTO terms in trying to prevent this kind of business is a must read for all pro gamblers) Vegas has lobbyists in Washington working day and night at trying to curb offshores....
These are the people behind the recent FTC efforts to ban all kinds of promotions of offshores over the radio (and they largely suceeded)
Vegas is very much against offshores and has tried their best to shut it down.

Best people to talk to about this are the sports book managers in vegas casinos. They all secretly hate their admins and will tell you what you need to know about vegas and offshores.

 

[kidslick]

Don't forget a ton of folks are computer illiterate and will stay that way

that is so true

i tell people when i go to the local o.t.b. at times

about the offshore industry for horses . i tell them they can get full tack odd's on triple's superfecta's and so on

i tell them pinnacle does not answer to the I.R.S. if you know what i mean

(wink wink) that is your responsibility and guess what they give you a REBATE 7 percent the next day on total volume


they look at me like i have three heads

and most of them do not know how to turn on a computer:modemman:

 

[SunDodger]

Vegas is very much against offshores and has tried their best to shut it down.

I agree with you on this. It seems like Vegas books want a sportsbettors only option to place a wager is to hop a plane to Vegas, pay the expensive Fri./Sat. night hotel rates and bet at their books. Then, they can turn away or limit sharps to increase their bottom line.

Line shopping before there were internet sportsbooks must've sucked!! It could take all day walking up and down the strip to place wagers.

 

[jdodger]

I do not think that the attitude in Vegas is all that clear cut as being against off shore books, nor even off shore casinos.

True, the state of Nevada has very strict laws regulating gaming. For example, no state lottery, and even when non-profits run lotteries they have to be very careful about how they go about it. And I don't think non profit Bingo is even allowed.

And Nevada does have rules that specifically prohibit off shore gambling of any kind. But, actual prosecution for this offence is rare.

On the other hand, several major corporations with casinos located in Nevada actually looked into also running off shore operations, but this was before the DOJ crackdowns that started a couple of years ago.

Vegas has rarely, if ever, actually been hurt by outside competition. I remember there was all this concern when Atlantic City was opened to gambling. The fear in Vegas was that it would lose a substantial amount of business from the East Coast. For a brief while, it looked like this might have happened to a minor degree, but after a few years, growth of business from the East Coast actually picked up.

Looking back at it, while some customers were indeed lost to Atlantic City, this loss was more than made up for by the number of people who got into gambling having been first introduced to it in Atlantic city, and then later trying their luck in Vegas.

Very similar results have happened over and over again with New Orleans and Indian gaming. And, of course, major corporations with casinos in Vegas also run casinos in Atlantic City and elsewhere.

And its happening right now with Poker. Three years ago Vegas was shutting down poker rooms, and now it is exploding here, despite the huge, apparant "competition" from off shores.

Sports Books are a different story in the sense that Vegas has, indeed, lowered limits compared to many years ago.

But, I do not think that the total money being made in Vegas from Sports Book operations is less now than it was 10 years ago. And, this same "trickle down theory" that applied to Atlantic City, Poker, etc is probably taking place as related to sports betting. The additional interest that offshore books has created has created more people who get into it in the first place, and the next time they come to Vegas they might visit the sports book.

The high limit players don't like it, but I would not be surprised if Vegas' decision to cater to the low and middle level player has actually resulted in a better bottom line, and certainly less risk whish upper management hates, than it was 10 years ago. Vegas is finding its niche in the market and seems to be happy with it.

Also, Vegas realizes that it has always been a rogue in the eyes of the Feds and the major leagues and NCAA. Leaders of the industry here have often said that rather than try to ban it, the government should be regulating and taxing it, just like Nevada does.

I think as the various suits that are going on in the Inernational courts and so forth develop, you will actually see amicus briefs being filed by Nevada entities in favor of the legalization, regulation and taxing of offshore sports betting and Casinos.

We shall see.

 

[WildBill]

Vegas is making more money booking sports now than ever. Some of it of course is due to more visitors, but most books are doing just fine in handle, maybe off just a tad thanks to offshore. Stop and think for a moment of how many people here separate themselves from the pack. We do our homework, we do our line shopping, we make moves doing things such as scalping and hedging. Do you think the average Joe does this? Of course not. He just walks up to the window, bets his games, and gets his entertainment out of the bet. That is what Vegas caters to and there isn't anything wrong with that. They have cut limits somewhat, but as most point out it isn't really the limits they are cutting, its the particulars they have decided aren't good for business. And it can't be quite as bad as some think if guys like Fezzik and a few others I know still get decent amounts down on games even though so many places have told them they aren't welcome anymore. And if you have a half million dollar credit line with the house and play in the pits with it, those limits posted on the board obviously aren't going to apply to you.

As for the attitude of the people in the books, 9 out of 10 of them will tell you hey offshore gives you a better deal. No matter what they tell you, rest assured someone is looking at the action offshore for clues on where to move the numbers so they fully respect it. They just don't play into it either because they are happy with what they have in regular books or they are in jobs where such an act could get them fired or lose their license. For the average Joe that walks in twice a year to play, the Vegas guys would probably tell you definitely play offshore while you aren't around, making you a regular player means you will bet more consistently for higher amounts when you are with us.

 

[Objection]

I bet $250 on an NBA total ( the game wasn't circled) this season and the teller called out "key" and the manager came over and OK'd it.I was surprised at needing an OK for a $250 bet and the manager said they were doing it for any bet over $200.Lately to me,the books just look more empty than usual.

 

[TTinCO]

People fear the unknown-especially when the unknown involves sending their money to some 3rd world country.

It's amazing at how much resistance exists in the eyes of the public. Even when I explain the number of very solid sportsbooks and the number of years that they have been in business-a lot of people still look at me like I'm nuts.

 

[miked429]

9 out of 10 sports bettors are impulse gamblers.they bet with casino and locals because it is something to do.think about it in your everyday life how many people do you know like us.most people think gambling is something fun to do.im so focked up i meet a person named chris and i think of offshore sportsbook.i hear someone use the word the pinnacle i think half juice.we are sick group of people but atleast we got each other.:monsters-

 

[TANG]

there is pinnacle golf balls so i think these must be good. also there is a pinnacle truck company near where i work i think a holes if i lost with pinnacle the night before.

 

[TTinCO]

:lolBIG: Very funny way to look at it MikeD (but you basically hit the nail on the head)

 

[charliepeete]

enough i played 1500 on a college bb game at " the paris " in vegas and had to get permission from two "bosses" to accept the wager....

i told them that i could bet 10 dimes in a click of a mouse.. with no problems>>>> just like some of my friends "OLD SCHOOL"

 

[DrunkenHorseplayer]

I like you had the same opinion years ago but after reading internet forums like The RX, I realized that some books like Pinnacle, WSEX and Olympic to name a few, are head and shoulders above Las Vegas Books.

But what happens if it becomes obvious to them that you're a consistent winner? They're going to keep you around and let you take their money?