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Sportsbook Scene 11/28
Skill Factor of Poker & Sports Betting
Makes for Not Such Strange Bedfellows
By Buzz Daly
November 28, 2001
A common misperception among non-gamblers is that betting activities are losing propositions, since virtually all games in a casino are based on the house having an automatic edge, while the player is left with negative expectations.
The non-gambler's point of view is, of course, erroneous, since it doesn't acknowledge that not everything offered in a casino is a game of chance, and some risk-taking involves games of skill.
Following that concept out to its natural conclusion, it is not surprising that highly successful professional poker players such as Chip Reese and Doyle Brunson have established notorious reputations among offshore sportsbooks. Applying the same principles that make them world class poker players also pays off in sports wagering.
Additionally, it is not a coincidence that one of the largest, most respected sports betting syndicates is known as the Poker Players. The common denominator is skill, and Brunson, Reese, et al have leveraged their aptitude for making a nice profit in activities that reward intuitiveness, gaming smarts and discipline.
So we were not surprised when we heard several sportsbooks were looking into card rooms as a mode of expanding. Of course, it was our good buddy Mickey Richards from CRIS (www.betcris.com) who asked us to check out a new poker room with which the international sportsbook had recently affiliated.
Just the mention of poker awakened memories of years gone by when we played not just draw and seven-card stud, but such monstrosities as "baseball", "Chicago", and "Mississippi". Even now, we cringe at the convoluted rules of some of the games.
But when we spoke with Mike D'Angelo, general manager of americascardroom.com, it became clear that poker is a passion for a sizable subculture of dedicated players, as well as a pleasurable pastime for many others.
The affiliation with CRIS means that patrons of americascardroom can bet on sports using their poker chips. "That is an advantage not enjoyed by any other online cardroom," said D'Angelo.
The site is a 24-hour operation, with games going about 18 hours a day, he said. Revenue is earned through the rake just like offline card rooms.
Most popular game, observed D'Angelo, is Texas Hold'em followed by Omaha Hi-Lo and Seven-Card Stud. Omaha High and Seven-Card Hi-Lo are also available.
D'Angelo estimated that 80 percent of poker players also like to bet sports. The high crossover is probably due to the emphasis on skill inherent in both poker and sports betting, rather than dumb luck.
Many poker enthusiasts are intense about the game and it is a big part of their life. It is also a sociable activity and a lot of the players at americascardroom.com become friends, exchange emails and develop relationships all across the country and world.
Low roller games with limits of 25/50 cents are offered, all the way up to $20/$40 games, where the pots can reach $1,000 and more.
What distinguishes americascardroom, said D'Angelo, is the intention to make it as much like an offline card room as possible. Two popular options, chopping blinds and straddling, are offered exclusively on the Internet at americascardroom, he said, and kill pots are also available.
"We're trying to make our poker room as realistic as we can, since most of our players also frequent offline card rooms," said D'Angelo.
To spice things up, sports-oriented promotions in which players get a free square in an $800 NFL pool, and a $500 NBA pool, are run weekly.
"The people who built the site had many years of poker playing experience, and wanted to put together a site that was more personal with a friendlier ambiance than other virtual card rooms," D'Angelo explained.
"We have a live chat button that can be clicked so players can talk to staff in real time rather than emails," he added.
Players are allowed one free cashout per week, and deposits are taken via Paypal, Western Union and Firepay.
If nature calls, a player can click a "sit out" button that lets him leave the table for up to seven minutes.
In order to avoid trickery or subterfuge by players, your signup name is the one you must keep after becoming a customer.
D'Angelo estimated that 150,000 people have registered and played online poker throughout the world. As technology makes cyber poker more realistic, that number is expected to rise dramatically.
One phenomenon that D'Angelo said he has noticed is the emergence of a new job category, online poker professional.
Just as they do in California and Las Vegas, many poker players go to poker rooms on a regular basis, almost like a regular job. Right now, he estimated that there are up to several hundred playing online poker as their primary means of income.
A Dubious Perk. In stark contrast to the genuine deals offered by offshore books is this miserly offer mailed out from Harrah's and the Rio in Las Vegas.
"Play table games for a minimum of one hour and receive $5 free cash." Wow! Such generosity could be forthcoming only from a Vegas casino. Oh, yeah, to take advantage of the casino's largesse, you must validate the coupon at the Total Rewards Center, which usually involves standing in a line.
At a $5 minimum table in craps, a bettor can make hundreds of bets in an hour. For roulette and blackjack, a player could easily spend several hundred dollars, even playing conservatively. The idea of a free $5 bet is hardly enticing. In fact, it could be considered insulting.
Conversely, casinos catering to locals routinely offer more generous and attractive deals. Perhaps the most interesting to the average player is Station Casinos' coupons for a free bet at a table game.
A month's worth of coupons is sent to players; the value of the freebie is keyed to your play at the tables. The coupons range from $5 to $100, and can be played right at the tables without a lot of validation red tape.
Culture Shock. We heard from an offshore B.M. about an obnoxious New York bettor, who finally opened up a post up account offshore, after being denied a credit relationship.
His first bet was the Jets 50 times. After hearing the readback and signing off on it, he went to watch the game.
The play lost, and when he next called, he was given a figure that indicated he owed $55,000.
"What are you talking about?" he screamed. "I lost $275."
He was told the ticket writer understood the bet to be for 50 dimes.
It was all straightened out eventually, but only after both sides had their fill of agita.
Needless to say, the New York player learned his lesson and now calls in bets properly, sans east coast vernacular.
We should explain many that NY bookmakers take bets in "times", with one time equaling $5.50.
Juicy Jackpot. For those who don't mind bucking long odds to get a big payday, the Weekly Pick-All at Carib Sports (www.caribsports.com) should be right up your alley. Offering a progressive pool with a pot which is now $55,000, bettors put up $5 to pick 15 NFL games straight up.
Any player who goes 15/15 claims the jackpot.
So far, the closest anyone has come to winning was a few weeks ago, when two bettors had perfect cards going into the Monday night game between Tennessee and Baltimore.
Both had Tennessee, which scored the winning touchdown in the final seconds of the game only to have it called back. The Titans still had a chance, but QB McNair couldn't sneak the ball in from one-half yard out.
We asked William J. Caesar, who runs Carib, if he was sweating out that last play.
"Not at all," he laughed. "We love it when our players win big. That is the best publicity in the world.
"But I didn't shed any tears for them. Hell, they could have picked Baltimore."
Radio Interviews. On this week's radio show, The Winning Line featuring Jimmy Vaccaro, we'll be speaking with Greg, the marketing director of the show's sponsor, Score Sportsbook. Score (www.scoresportsbook.com) is one of the key players in the Costa Rica offshore betting scene, and Greg gives forthright answers to questions. Anyone with a question for Greg or Jimmy should email it to me at [email protected], and we'll use it on the show. You can hear the show streamed live Thursday nights from 9 to 10 p.m. Pacific time on www.warpradio.com, or archived at www.audiovegas.com. Links are available at our website, www.buzzdaly.com.
Also, on Friday's Sports Gaming Report featuring Kelso Sturgeon, heard from 10 to 11 a.m. PT, Scott Mackinder of Parlaycard.com will join us live from London, where the specialty website is headquartered. The show can be accessed on the Internet from our website.
Please send comments, questions, etc. to [email protected].
Makes for Not Such Strange Bedfellows
By Buzz Daly
November 28, 2001
A common misperception among non-gamblers is that betting activities are losing propositions, since virtually all games in a casino are based on the house having an automatic edge, while the player is left with negative expectations.
The non-gambler's point of view is, of course, erroneous, since it doesn't acknowledge that not everything offered in a casino is a game of chance, and some risk-taking involves games of skill.
Following that concept out to its natural conclusion, it is not surprising that highly successful professional poker players such as Chip Reese and Doyle Brunson have established notorious reputations among offshore sportsbooks. Applying the same principles that make them world class poker players also pays off in sports wagering.
Additionally, it is not a coincidence that one of the largest, most respected sports betting syndicates is known as the Poker Players. The common denominator is skill, and Brunson, Reese, et al have leveraged their aptitude for making a nice profit in activities that reward intuitiveness, gaming smarts and discipline.
So we were not surprised when we heard several sportsbooks were looking into card rooms as a mode of expanding. Of course, it was our good buddy Mickey Richards from CRIS (www.betcris.com) who asked us to check out a new poker room with which the international sportsbook had recently affiliated.
Just the mention of poker awakened memories of years gone by when we played not just draw and seven-card stud, but such monstrosities as "baseball", "Chicago", and "Mississippi". Even now, we cringe at the convoluted rules of some of the games.
But when we spoke with Mike D'Angelo, general manager of americascardroom.com, it became clear that poker is a passion for a sizable subculture of dedicated players, as well as a pleasurable pastime for many others.
The affiliation with CRIS means that patrons of americascardroom can bet on sports using their poker chips. "That is an advantage not enjoyed by any other online cardroom," said D'Angelo.
The site is a 24-hour operation, with games going about 18 hours a day, he said. Revenue is earned through the rake just like offline card rooms.
Most popular game, observed D'Angelo, is Texas Hold'em followed by Omaha Hi-Lo and Seven-Card Stud. Omaha High and Seven-Card Hi-Lo are also available.
D'Angelo estimated that 80 percent of poker players also like to bet sports. The high crossover is probably due to the emphasis on skill inherent in both poker and sports betting, rather than dumb luck.
Many poker enthusiasts are intense about the game and it is a big part of their life. It is also a sociable activity and a lot of the players at americascardroom.com become friends, exchange emails and develop relationships all across the country and world.
Low roller games with limits of 25/50 cents are offered, all the way up to $20/$40 games, where the pots can reach $1,000 and more.
What distinguishes americascardroom, said D'Angelo, is the intention to make it as much like an offline card room as possible. Two popular options, chopping blinds and straddling, are offered exclusively on the Internet at americascardroom, he said, and kill pots are also available.
"We're trying to make our poker room as realistic as we can, since most of our players also frequent offline card rooms," said D'Angelo.
To spice things up, sports-oriented promotions in which players get a free square in an $800 NFL pool, and a $500 NBA pool, are run weekly.
"The people who built the site had many years of poker playing experience, and wanted to put together a site that was more personal with a friendlier ambiance than other virtual card rooms," D'Angelo explained.
"We have a live chat button that can be clicked so players can talk to staff in real time rather than emails," he added.
Players are allowed one free cashout per week, and deposits are taken via Paypal, Western Union and Firepay.
If nature calls, a player can click a "sit out" button that lets him leave the table for up to seven minutes.
In order to avoid trickery or subterfuge by players, your signup name is the one you must keep after becoming a customer.
D'Angelo estimated that 150,000 people have registered and played online poker throughout the world. As technology makes cyber poker more realistic, that number is expected to rise dramatically.
One phenomenon that D'Angelo said he has noticed is the emergence of a new job category, online poker professional.
Just as they do in California and Las Vegas, many poker players go to poker rooms on a regular basis, almost like a regular job. Right now, he estimated that there are up to several hundred playing online poker as their primary means of income.
A Dubious Perk. In stark contrast to the genuine deals offered by offshore books is this miserly offer mailed out from Harrah's and the Rio in Las Vegas.
"Play table games for a minimum of one hour and receive $5 free cash." Wow! Such generosity could be forthcoming only from a Vegas casino. Oh, yeah, to take advantage of the casino's largesse, you must validate the coupon at the Total Rewards Center, which usually involves standing in a line.
At a $5 minimum table in craps, a bettor can make hundreds of bets in an hour. For roulette and blackjack, a player could easily spend several hundred dollars, even playing conservatively. The idea of a free $5 bet is hardly enticing. In fact, it could be considered insulting.
Conversely, casinos catering to locals routinely offer more generous and attractive deals. Perhaps the most interesting to the average player is Station Casinos' coupons for a free bet at a table game.
A month's worth of coupons is sent to players; the value of the freebie is keyed to your play at the tables. The coupons range from $5 to $100, and can be played right at the tables without a lot of validation red tape.
Culture Shock. We heard from an offshore B.M. about an obnoxious New York bettor, who finally opened up a post up account offshore, after being denied a credit relationship.
His first bet was the Jets 50 times. After hearing the readback and signing off on it, he went to watch the game.
The play lost, and when he next called, he was given a figure that indicated he owed $55,000.
"What are you talking about?" he screamed. "I lost $275."
He was told the ticket writer understood the bet to be for 50 dimes.
It was all straightened out eventually, but only after both sides had their fill of agita.
Needless to say, the New York player learned his lesson and now calls in bets properly, sans east coast vernacular.
We should explain many that NY bookmakers take bets in "times", with one time equaling $5.50.
Juicy Jackpot. For those who don't mind bucking long odds to get a big payday, the Weekly Pick-All at Carib Sports (www.caribsports.com) should be right up your alley. Offering a progressive pool with a pot which is now $55,000, bettors put up $5 to pick 15 NFL games straight up.
Any player who goes 15/15 claims the jackpot.
So far, the closest anyone has come to winning was a few weeks ago, when two bettors had perfect cards going into the Monday night game between Tennessee and Baltimore.
Both had Tennessee, which scored the winning touchdown in the final seconds of the game only to have it called back. The Titans still had a chance, but QB McNair couldn't sneak the ball in from one-half yard out.
We asked William J. Caesar, who runs Carib, if he was sweating out that last play.
"Not at all," he laughed. "We love it when our players win big. That is the best publicity in the world.
"But I didn't shed any tears for them. Hell, they could have picked Baltimore."
Radio Interviews. On this week's radio show, The Winning Line featuring Jimmy Vaccaro, we'll be speaking with Greg, the marketing director of the show's sponsor, Score Sportsbook. Score (www.scoresportsbook.com) is one of the key players in the Costa Rica offshore betting scene, and Greg gives forthright answers to questions. Anyone with a question for Greg or Jimmy should email it to me at [email protected], and we'll use it on the show. You can hear the show streamed live Thursday nights from 9 to 10 p.m. Pacific time on www.warpradio.com, or archived at www.audiovegas.com. Links are available at our website, www.buzzdaly.com.
Also, on Friday's Sports Gaming Report featuring Kelso Sturgeon, heard from 10 to 11 a.m. PT, Scott Mackinder of Parlaycard.com will join us live from London, where the specialty website is headquartered. The show can be accessed on the Internet from our website.
Please send comments, questions, etc. to [email protected].
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