Pattern of season’s baseball betting comes into focus: Gamblers betting a less than last yr

[clevfan]

Pattern of season’s baseball betting comes into focus: Gamblers betting a little less than last year, casinos winning a little more

By Jeff Haney
LAS VEGAS SUN
Wed, Aug 13, 2008

Baseball gamblers in Nevada risked less money in the state’s sports books in June compared with last season, but fared a little better at the windows, according to the latest figures from the Gaming Control Board.

Of course, “faring better” is a relative term: As is usually the case, it means gamblers did not win, but lost at a lower rate in June than they did in the same month a year ago.

The most significant number for sports bettors in the state’s latest report was the “handle,” or total amount wagered on baseball in June.

The baseball handle checked in at about $88 million statewide in June, a drop of about 8 percent from the previous June, when bettors risked $95.6 million on baseball.

Casinos this year “held,” or won, about $5.4 million of that total, a rate of 6.2 percent. By comparison, in June 2007, casinos held 8 percent of the total wagered, or $7.6 million.

Even with the drop-off in the June handle, the season-long baseball betting picture, which is coming into focus, looks similar to last year’s. Gamblers have risked a little less money although casinos have won slightly more this season compared with numbers from the same point last season.

Through June this year, bettors risked $241.7 million at the windows in Nevada sports books and casinos won about $17.1 million, or 7.1 percent, of that total.

Through June 2007, bettors had risked $251.5 million, with casinos holding $16.8 million, or about 6.7 percent, according to the Gaming Control Board.

For the entire 2007 baseball season, bettors legally wagered a record $528 million in Nevada, with casinos holding about 4.8 percent of the money bet, or nearly $25.4 million.

That figure represented 20 percent of the nearly $2.6 billion wagered last year in the state’s sports books.

It also represented an increase of about 15.5 percent from the $457 million bet on baseball in Nevada in 2006.

Barring an unlikely rally in the baseball handle from now through the World Series, the 2008 season won’t see a comparable increase.

Ryder Cup

Led by PGA Championship winner Padraig Harrington of Ireland, who has won three titles in golf’s past six major championships, the European team has opened as a small favorite against the U.S. team in the 2008 Ryder Cup, according to odds at the Las Vegas Hilton sports book.

Bettors are required to lay minus-110 on either side (risk $1.10 to win $1) and to lay a half-point on favored Europe at the Hilton. Because of the structure of those odds, bettors who back the United States would win their wagers if the Ryder Cup ends in a tie even though Europe would retain the trophy.

Europe is coming off three consecutive victories in the biennial event heading into this year’s cup, set for Sept. 18-21 at Valhalla Golf Club in Louisville, Ky.

Captain Paul Azinger will announce four wild-card picks Sept. 2 to join Phil Mickelson, Stewart Cink, Kenny Perry, Jim Furyk, Anthony Kim, Justin Leonard, Ben Curtis and Boo Weekley on the U.S. team, which last won in 1999 by a score of 14 1/2 to 13 1/2.

Handicapping seminar

Registration is available for a free football handicapping symposium scheduled for Aug. 23 and 24 at Red Rock Resort.

The seminar, sponsored by the Vegas Insider sports betting Web site, is scheduled to feature presentations by oddsmakers and sports handicappers concentrating on betting pro and college football.

In the oddsmaking segments, the speaking panel will include Ken White of Las Vegas Sports Consultants and Art Manteris, Jason McCormick and Micah Roberts of Station Casinos.

On the handicapping side, appearances are scheduled by Las Vegas handicappers Bryan Leonard, Andy Iskoe, Fezzik, Erin Rynning and Jim Kruger, among others.