Sportingbet spends $8.1 million

[Snoop Scoop]

Sportingbet consolidated its position as the world's largest online betting company today with the acquisition of fellow UK internet betting group Sporting Odds but warned that a Brazil victory today and again in Sunday's World Cup final would take the smile off their faces. Sportingbet, which has more than 600,000 customers worldwide, said it has bought Sporting Odds, the fixed odds business of spread betting firm Sporting Index, for a total of $8.1 million.


More in today's Insider:

http://www.bettorsworld.com/web/oddswiz/insider.shtml

[sportshobby]

The "world's largest online betting company" will take a maximum wager of exactly what on U.S. sports?

[brink]

My guess is that they take a smaller wager than the likes of Jazz, Aces Gold, Premiere League, Dunes, Caribi and a long line of others.

Some books can't win. They either get blasted for not taking a big enough bet or they get blasted for taking on the world and going out of business.

[Blowfish]

I'd rather make a lot of small bets and get paid than make huge bets and get stiffed or thrown out.

[Cons]

Brazil wins both games and Sportingbet picks up the tab.

[Reliable Source]

Brother Cons,

Nice pic of the star & crescent.
Shoot me a private msg when you get a chance.

AEKDB

Reliable

[sportshobby]

Of course every reliable sportsbook has to set their limits based on their total handle and bankroll. I have no problems with a small book having small limits. But it seems ironic that the "world's largest sportsbook" would have small limits.

[Blowfish]

Ironic? Yeah, but pretty smart. Unfortunately, while the large bettor brings in large deposits for post up, they also tend to be sharper and withdraw even larger amounts. These guys want the small every day player, the guy who just likes to bet. You will see more and more people cut limits as they realize they can't just book on their egos. It's one thing to say you have the balls to take a big bet, but another to actually have tuck you balls between your legs when you lose and can't pay.

Now of course these guys could pay.....and they have been known to take big bets, but they make sure they know who they're taking them from. Just as you want to make money, and make a living doing this for the forseeable future, so do they.

[sportshobby]

Let's take a blackjack game, players wander in and there are limits posted. Then one player plays very sharp, doubling down and hitting by the book. Suddenly, he is told that his limit has been cut to 1/5 that of the other players, because he is a sharp player. Is that a fair game?

I have no problem with a sportsbook limiting their wagers - it is a must to remain solvent. But doing so based on profiling the players isn't ethical in my opinion. A sharp clientele can be beat - if not, then CRIS, Olympic, and Grande wouldn't be in business. But it is more difficult, requires bookmaking expertise, and may involve smaller profit margins than sucker business.

[Blowfish]

They may not want to deal with smaller profit margins. They may not like the risk vs. return and are probably very happy operating with the near absolute certainty that they will be able to pay their players on demand no matter what. Every book profiles to some extent...when a player is branded as sharp or a wiseguy, their limits are slashed, while the square may be allowed to bet ten dimes a game.

Many books deal more than one line as well...and even some of the books that take sharp action will run two or more sets of lines.

[speedy gonzales]

Is Sportingbet the book that is talking with Bruce Willis about being an investor? They've been acquiring other books lately

Can Scoop Snoop confirm or deny this? if not, can SS at least reveal whether the book Willis is talking to is in Costa Rica or the U.K.???

[Snoop Scoop]

Speedy--Let's see, Sportingbet had office in both the UK AND Costa Rica and Mr. Willis was recently in London....now Sportingbet isn't centrally located in London BUT...

[Te tutava nei matou]

HEY SCOOP SNOOP...CUT THE SH|T ALREADY!!! IS WILLIS NEGOTIATING WITH SPORTINGBET OR NOT? YOU'RE A REPORTER, FOR CHRISSAKES, REPORT THE NEWS!!! IT'S NOT YOUR JOB TO PROTECT WILLIS OR ANYONE ELSE, WHO ARE YOU, HIS PERSONAL JOCK SNIFFER??? JUST TELL US THE FACTS

[Snoop Scoop]

Lighten up. If you can't figure it out from the post above yours.......come on. YES, that is the story.

[Te tutava nei matou]

snoop: has this willis thing been reported in the british papers?