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In this post, I will begin a personal, hence subjective and limited, historical overview of Las Vegas sportsbetting scene. Because I arrived in Vegas in 1983 or 84, I know very little, other than some hearsay, about what happened prior to my arrival. Furthermore, I have probably forgotten more than I remember. Nonetheless, since some of you seem to enjoy reading this type of material, and I enjoy writing it, here goes.
When I first arrived in Vegas, sportsbetting tickets were still handwritten. Naturally, this led to all kinds of corruption. For example, one time I returned to the Fremont, which at that time was independent of the Stardust, to bet an NBA total. However, the line had move against me, and I kind of bitched out loud. Well, the sportsbook manager, who was there alone, heard me and said, "Listen, buddy, I can give you the number you want. How much is it worth it to you?" Anyway, the computerization of sportsbetting in the mid-80s put an end to these types of shenanigans.
Prior to Michael Roxborough, Bob Martin was the Las Vegas linesmaker. Martin made the betting lines by "feel." He likened making the right betting line to the feel one gets by slipping one's hand into the perfect size glove. Anyway, Martin, who had mob ties, got involved in some legal problems, and Vegas needed a new linesmaker. Enter Michael Roxborough.
Michael Roxborough had arrived in Vegas as a long-haired, sandal-wearing hippie who lived out of his van. However, he had a slick tongue, good contacts, and the ear of the right people. He was able to convince Scottie Shettler, then the Stardust sportsbook manager, that he was the man to replace Martin. Thus began the Roxborough reign.
Roxborough cut his hair, put on a suit and tie, and symbolized the transition of Vegas sportsbetting from old-school mob to new- school corporate and computerized.
How good was the Roxborough betting line versus the Bob Martin line? When I posed this question to Lem Banker, the legendary Vegas sportsbettor, he said, "Bob Martin's line was easy for me to beat. Roxborough's is much tougher."
And, I would have to say that Roxborough's line has gotten progressively better over time. Until relatively recently, the opening Stardust betting line generally tended to move toward the Caribbean line created by Monty at CRIS. However, from my observation, lately, the Caribbean line is tending to move more toward the Stardust line. In other words, Roxy now makes the better opening line.
Roxborough is very sharp. He reads all the published sportsbetting material (available through Gambler's Book Club in Las Vegas)and loves to hear from sportsbettors who stupidly tell him what they know. A couple of examples: (1)Years ago, NFL games in dome stadiums tended to be good "over" bets because of ideal weather conditions. Someone told Roxy about this trend and sure enough, the line quickly adjusted, ending any edge knowledgeable sportsbettors had regarding this situation. (2) The strongest angle, in terms of quantity and quality, that I ever found in sportsbetting was: when a NBA team wins at home and plays on the road the next day, bet against them. From the early to late 80's, over seven or eight consecutive seasons, this angle averaged 57 to 58% a year on a high volume of plays. It was sure money in the bank. Then a guy named Andy Iskoe, came out with a book that included this angle, and sure enough, the opening line adjusted and the angle stopped winning. A point in the NBA is worth just under 4%. So, since a bettor must hit 52.38% winners to break even, a mere 1 to 1.5 point adjustment by the linesmaker would negate a player's edge.
For a period in the mid-80's, sportsbettors who made a Sagarin-type computerized betting line had an edge against the linesmakers, particularly in college basketball. However, Roxy is well aware of Sagarin's ratings, and even has his own computer people. Thus, someone must now be extremely sophisticated to write a computer program that makes a better line than Roxy's.
When Scottie Shettler ran the Stardust in the 80's, it was ultra-corrupt. He and his two supervisors, Richard and Syl, had a deal going with Sam Brown, probably the greatest middler-scalper in Vegas history. Sam, an old Jewish guy in his 70s, would sit in the front row all day at the Stardust. Then, to use baseball as an example, when a phone bet came in, they would jump the line in a quantum-like 10 cent increment (note: this was prior to the acceptance of the penny line in Vegas) and ol' Sam would waddle to the counter, bet 5 dimes, then saunter to the pay phones and scalp the game with one of his private bookies, among them the legendary Doc and the Chinaman. I would venture to guess that in the course of a typical day, Sam would probably get 30+ 5 to 10 cent 5-dime baseball scalps. Do the math and imagine the profit. Naturally, Scottie, Richard, and Syl, and later a red-haired gal named Patty, were well taken care of by Sam. Of course, line movement tended to stop until Sam returned to his seat. I was read the riot act and nearly 86ed out of the Dust when I tried to compete with Sam. I could not afford that at the time, so I had to survive on the leftovers.
Sam actually liked me, since I was bright, a hustler, and also Jewish. He offered to hire me. My job would have been to go around and get him numbers at sportsbooks around town. Unfortunately, I declined. It would have saved me immense headache and heartache if I would have done that instead of starting my own operation. I probably could have eventually taken over Sam's gig and gotten access to his incomparable connections and privates.
Sam, who claimed that he had been robbed 7 different times, did give me some invaluable advice: always write down your ticket number on a separate slip of paper. Because of this, I was able to recoup $30,000 worth of outstanding tickets when I was robbed( The robbers were identified and eventually caught when they tried to cash the stolen tickets, all because we had called the casinos in advance with the ticket numbers.)Another time, I carelessly lost my wallet with $20,000 of sportsbetting tickets. Again, I simply referred to my sheet, called the casinos, and the guy with my wallet was apprehended and my tickets returned to me.
One final piece on Lem Banker, who, if not Billy Walters, is the most famous sports bettor in Las Vegas history. Lem has an ego that won't quit. Example: Whenever I saw him in a Vegas casino--naturally he was always bedecked with gold jewelry--he would immediately greet me with an unsolicited "Today I really like so-and-so..." As if I cared! Lem did not impress me with his wisdom. Sources have told me he made most of his money from shading. He would get huge orders on games, say an NFL game at +7, find a +7 and-a-half, and when the game fell 7, 'ol Lem would rake in the doe. The last time I talked to Lem, his advice to me, believe it or not, was to invest in Ginny Maes (not sure of spelling), some type of money market
investment. This from a world-famous gambler!
When I first arrived in Vegas, sportsbetting tickets were still handwritten. Naturally, this led to all kinds of corruption. For example, one time I returned to the Fremont, which at that time was independent of the Stardust, to bet an NBA total. However, the line had move against me, and I kind of bitched out loud. Well, the sportsbook manager, who was there alone, heard me and said, "Listen, buddy, I can give you the number you want. How much is it worth it to you?" Anyway, the computerization of sportsbetting in the mid-80s put an end to these types of shenanigans.
Prior to Michael Roxborough, Bob Martin was the Las Vegas linesmaker. Martin made the betting lines by "feel." He likened making the right betting line to the feel one gets by slipping one's hand into the perfect size glove. Anyway, Martin, who had mob ties, got involved in some legal problems, and Vegas needed a new linesmaker. Enter Michael Roxborough.
Michael Roxborough had arrived in Vegas as a long-haired, sandal-wearing hippie who lived out of his van. However, he had a slick tongue, good contacts, and the ear of the right people. He was able to convince Scottie Shettler, then the Stardust sportsbook manager, that he was the man to replace Martin. Thus began the Roxborough reign.
Roxborough cut his hair, put on a suit and tie, and symbolized the transition of Vegas sportsbetting from old-school mob to new- school corporate and computerized.
How good was the Roxborough betting line versus the Bob Martin line? When I posed this question to Lem Banker, the legendary Vegas sportsbettor, he said, "Bob Martin's line was easy for me to beat. Roxborough's is much tougher."
And, I would have to say that Roxborough's line has gotten progressively better over time. Until relatively recently, the opening Stardust betting line generally tended to move toward the Caribbean line created by Monty at CRIS. However, from my observation, lately, the Caribbean line is tending to move more toward the Stardust line. In other words, Roxy now makes the better opening line.
Roxborough is very sharp. He reads all the published sportsbetting material (available through Gambler's Book Club in Las Vegas)and loves to hear from sportsbettors who stupidly tell him what they know. A couple of examples: (1)Years ago, NFL games in dome stadiums tended to be good "over" bets because of ideal weather conditions. Someone told Roxy about this trend and sure enough, the line quickly adjusted, ending any edge knowledgeable sportsbettors had regarding this situation. (2) The strongest angle, in terms of quantity and quality, that I ever found in sportsbetting was: when a NBA team wins at home and plays on the road the next day, bet against them. From the early to late 80's, over seven or eight consecutive seasons, this angle averaged 57 to 58% a year on a high volume of plays. It was sure money in the bank. Then a guy named Andy Iskoe, came out with a book that included this angle, and sure enough, the opening line adjusted and the angle stopped winning. A point in the NBA is worth just under 4%. So, since a bettor must hit 52.38% winners to break even, a mere 1 to 1.5 point adjustment by the linesmaker would negate a player's edge.
For a period in the mid-80's, sportsbettors who made a Sagarin-type computerized betting line had an edge against the linesmakers, particularly in college basketball. However, Roxy is well aware of Sagarin's ratings, and even has his own computer people. Thus, someone must now be extremely sophisticated to write a computer program that makes a better line than Roxy's.
When Scottie Shettler ran the Stardust in the 80's, it was ultra-corrupt. He and his two supervisors, Richard and Syl, had a deal going with Sam Brown, probably the greatest middler-scalper in Vegas history. Sam, an old Jewish guy in his 70s, would sit in the front row all day at the Stardust. Then, to use baseball as an example, when a phone bet came in, they would jump the line in a quantum-like 10 cent increment (note: this was prior to the acceptance of the penny line in Vegas) and ol' Sam would waddle to the counter, bet 5 dimes, then saunter to the pay phones and scalp the game with one of his private bookies, among them the legendary Doc and the Chinaman. I would venture to guess that in the course of a typical day, Sam would probably get 30+ 5 to 10 cent 5-dime baseball scalps. Do the math and imagine the profit. Naturally, Scottie, Richard, and Syl, and later a red-haired gal named Patty, were well taken care of by Sam. Of course, line movement tended to stop until Sam returned to his seat. I was read the riot act and nearly 86ed out of the Dust when I tried to compete with Sam. I could not afford that at the time, so I had to survive on the leftovers.
Sam actually liked me, since I was bright, a hustler, and also Jewish. He offered to hire me. My job would have been to go around and get him numbers at sportsbooks around town. Unfortunately, I declined. It would have saved me immense headache and heartache if I would have done that instead of starting my own operation. I probably could have eventually taken over Sam's gig and gotten access to his incomparable connections and privates.
Sam, who claimed that he had been robbed 7 different times, did give me some invaluable advice: always write down your ticket number on a separate slip of paper. Because of this, I was able to recoup $30,000 worth of outstanding tickets when I was robbed( The robbers were identified and eventually caught when they tried to cash the stolen tickets, all because we had called the casinos in advance with the ticket numbers.)Another time, I carelessly lost my wallet with $20,000 of sportsbetting tickets. Again, I simply referred to my sheet, called the casinos, and the guy with my wallet was apprehended and my tickets returned to me.
One final piece on Lem Banker, who, if not Billy Walters, is the most famous sports bettor in Las Vegas history. Lem has an ego that won't quit. Example: Whenever I saw him in a Vegas casino--naturally he was always bedecked with gold jewelry--he would immediately greet me with an unsolicited "Today I really like so-and-so..." As if I cared! Lem did not impress me with his wisdom. Sources have told me he made most of his money from shading. He would get huge orders on games, say an NFL game at +7, find a +7 and-a-half, and when the game fell 7, 'ol Lem would rake in the doe. The last time I talked to Lem, his advice to me, believe it or not, was to invest in Ginny Maes (not sure of spelling), some type of money market
investment. This from a world-famous gambler!
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