VEGAS SPORTSBOOKS VS. OFFSHORE SPORTSBOOKS

[Cashew]

I UNDERSTAND THAT VEGAS SPORTSBOOKS ARE NOT MEANT TO MAKE MONEY, THEY JUST EXIST TO KEEP GAMBLERS WHO BET SPORTS AND PLAY TABLE GAMES FROM GOING TO ANOTHER CASINO, IF THE SPORTSBOOK BREAKS EVEN THE CASINO IS HAPPY

SO MOST VEGAS SPORTSBOOKS DON"T MAKE MONEY, YET SOME OFFSHORE SPORTSBOOKS APPARENTLY DO MAKE MONEY

WHY IS THIS? ARE THE OFFSHORES RUN BETTER? I KNOW THE OFFSHORES HAVE LOWER OVERHEAD (OR DO THEY), IS THAT THE DIFFERENCE? IS IT BECAUSE VEGAS HAS LOWER LIMITS OR DOESN"T KICK OUT WISEGUYS OR WHAT?

WHAT ARE YOUR THOUGHTS ON WHY MOST VEGAS SPORTSBOOKS DO NOT MAKE MONEY BUT MANY OFFSHORE SPORTSBOOKS DO??? :D

[Dragon]

I think there are a couple of reasons, the biggest is probaby that offshore requires most to post up the money ahead of time. I was reading where the offshores keep 50% of what gets sent in. So many players never get the chance to make a withdrawal!

[STEVE TURNER]

Cashew: All casinos in Vegas are now run by Corporate America(bean counters) They don't understand the sports gambling business.

If a black jack pit wins 22% each 24 hour period, they don't understand why a sports book in the casino could lose money for a 24 hour period.

In the good ole days of Vegas, I can walk into most sports books and bet $5,000 on a college basketball game. If i walked into one now, I would be lucky to bet $300.

The reason they don't make much money is because they can't stand the heat. If they can't stand the heat, they should get out of the kitchen.

[STEVE TURNER]

Dragon: The statment you made is accurate, but you may have confused the novice bettor. Yes 50% or more of the players never recieve a pay-out, but for the novice this dosen't mean they make a 50% profit.

As we all know they pay out a lot of money. If there hold is 3 to 4% they make good money.

[Cashew]

vegas casinos make you post up too :p :eek: :D :o

[sportshobby]

Vegas sportsbooks make a profit also, I believe. Just not enough to satisfy the corporate managers, when compared to the profit per slot machine of floor space.