The unique thing about this proposal is that Kansas has been through this before. We had horse and dog racing (before the owners of the Woodlands got into a pissing match). Not much different now.

Hmm... the Woodlands would be great for a new stadium. Great access, lots of parking and infrastructure already built in.
[Reply]

Still no launch date in sight, week one of NFL season likely to be a miss


The government ruins everything
[Reply]

I heard my first ad for the Barstool Sportsbook on the radio yesterday but no timeline disclosed. Sucks ass
[Reply]

Saw a bunch of KS Draftkings Sportbook commercials on MLB.tv and got signed up for the free bets for whenever it is they launch, but I'm sure the government is still squabbling over who gets to skim what off the top of our bets.
[Reply]

Yeah, I've heard that week 2-3 is more feasible. Whatever. We've waited this long, at least we're gonna have live sports betting here within this season.
[Reply]

All this legalized sportsbetting is fools gold. The vig they put into their lines is completely usurious. You can be the most enlightened sports prognosticator in the world and you won't be able to make a long term profit with the prices that these approved, regulated books offer.

Imagine someone you would acknowledge as the best poker player of all time. Doyle Brunson, for many, or for the younger generation, Phil Ivey. There are others of course. Now imagine that poker player being at a game where the table rakes 50% of the pot each hand. That guy, Brunson or Ivey, whoever you want, would have 0% chance of making profit in that game, because too much money is being sucked up by the house. Even him, Brunson or Ivey, Hellmuth or Negreanu, anyone - would be a sucker at that game, specifically because it is an unbeatable game.

That's what these new, legal sportsbooks do.


[Reply]

I'm not a big sports bettor but I would like to be able to place a bet here and there without BTC in and BTC out while everyone skims some off the top along the way
[Reply]

I hear ya man, the hoops you gotta jump through using crypto are annoying as hell, and yeah, somehow there are like 4 middlemen in that transaction that all want their cut. Totally hear ya.

But with state-legalized betting, the cut they take is downright insane. 50 cent lines in NFL football, which is the easiest sport to handicap in the world. In the good old days of Pinnacle, they would have 5 cent lines on all sports. That got shut off to Americans pretty quick, but then there was matchbook, where you actually shop for lines that others are putting out like an ebay. That was an amazing concept but it didn't take off. Then there was 5dimes, that still offered 5 cent lines on their MLB overnight lines and 10 cents thereafter until game time. Nowadays I see 40 cent, 50 cent lines on NFL, and huge marketing campaigns that are being funded somehow. It just isn't beatable.

They key is to have a local. An actual guy that you talk to and he takes your bets and you settle up weekly or biweekly or whatever. That's been my method. Of course, you take a lot of credit risk doing that, but just stay away from huge parlays and futures that would likely break your bookie if you hit, and I find that's the way to go. Only way to go.
[Reply]

So do you have any recommendations on how to find out the betting lines that would reflect a more reasonable vig? Not necessarily to be able to place a bet on the more reasonable vig but just to see the cost to the consumer of these state approved sportsbooks.

I suppose a mathematician could look at the two money line numbers and have an idea of the percent vig.
[Reply]

It doesn't take a mathematician. Just some googling. https://bookies.com/guides/what-is-the-vigorish

Excerpts:

Some of the math:

Here’s an example featuring NBA odds:

In the moneyline for an NBA game, the L.A. Lakers are -300 and the Dallas Mavericks +200.

The formula for Implied probability is risk/return, so a bet on the Lakers means 300 (wagered)/400 (return) = 0.75, or a win probability of 75%. A bet on the Mavericks means 100 (wagered)/300 (return) = 0.33, or a win probability of 33%.

Add the two implied probabilities (0.75) + (0.33) = 1.08 total implied probability. That means an overround of 8%. Theoretically, that bookie will pay out $100 for every $108 in wagers accepted.

The vig formula is 1-(1/overround) x 100. In this case, that’s 1- (1/108) x 100. That calculates to 0.740, or a vig of 7.40%.

The vig calculators save time and are a good way for a player to evaluate what each sportsbook charges on every wager.
[Reply]

This is the absolute worst thing about BTC. The God damn fees to transfer it anywhere.
[Reply]

Sure. And if you're sports (or any kind) of betting as a part of your financial plan or a way to make money, you're gonna be hard pressed to do that unless you are a Ace Rothstein type. But for the casual or fun bettor, it's some of your entertainment budget with an opportunity to increase that budget on a weekly basis.

For instance, earlier this year I won a decent amount (not life or even year changing per se, but nothing to scoff at) at a casino on a table game mini jackpot. I put the cash straight back into my entertainment account. All it really means is that I won't need to pull money out of my actual account for gambling for a couple years. It's not money I needed nor is it money I would spend buying something I couldn't afford usually. It's the epitome of "fun" money and I think most casual bettors, or at least ones who like to gamble but don't consider themselves "professionals" would view it kind of the same way. So kind of an "easy come, easy go" scenario. And in terms of sports, it adds a little fun to watching a game. Winning or losing a few sheckels is besides the point.
[Reply]

FYI you should probably hold off on these sign up bonuses. They’ll get way better as they actually launch. DK has a $1000 sign up bonus in Iowa right now, for example. Only thing I’ve seen in Kansas is $100 in free bets.
[Reply]

I give you shit all the time, but you do know your stuff in this thread. However, it’s very possible to make good money on sportsbooks right now. Books are in total land grab mode and are giving away way too many promos, odds boosts, and sign up bonuses. That doesn’t even factor in the fact that their lines aren’t very good right now. Very easy to get good lines using same game parlay, while the books don’t care because those lines are so juiced. I’m up over $25k this year (and I haven’t even done any sign up bonuses). Football season should be even better for me.
[Reply]

Also tons of good people on Twitter to follow who analyze the profit boosts/promos etc. I’ll post links to some of the better ones if anyone is interested.
[Reply]