Wager all games you want!

September 2, 2008
by Jimmy Vaccaro

As published in GamingToday

With the first full week of college football action done, choices must be made.

For the next 13 weekends, there are full menus that create both good and bad scenarios. Do you play early or late? Do you bet full limits or look for a lead that provides options later in the week? How many games are enough? Did you overbet?

Remember the biggest ally a bookmaker has is actually threefold. The 11-10 goes without saying, aligned with randomness of selections and creating a little confusion. In the movie "Casino," Joe Pesci’s character confronts the guy and says, "No, I wasn’t taking, I was laying." Unfortunately, it is not as easy as that.

First, play when you feel it is appropriate to jump in. Bet early on favorites and late on dogs. Pardon the pun "dogs may not have the bite they once did." I have seen the unsophisticated over bet. The person knows the number will move in his direction only to see that the line backed up like a Georgia mule. There is just a very select group who can do this efficiently season after season. Trust me on this one.

Second, do not go into a week with a predetermined amount of sides you want to be on. The more the better. If you like 10 games go to it.

Conversely, if only a few games look ripe to you then those should be the ones played.

Third, limits are very arbitrary. Really people shouldn’t listen to anyone but themselves on this topic. Just ask yourself what is your threshold of pain and go from there. Are some games worth more than others?

I have seen some people be on polar opposites about this subject. They still play and do all right. I personally believe some betting opportunities should be pushed, but that is my opinion.

Guys like the shotgun effect in betting a lot of games for the same amount. As slight as their edge may be, they know they will never "win" a double bet or "lose" one either.

People with the opposite point of view feel theirs is a better chance of showing a win for the season. But, these people fully understand that even a double play still has the chance of being decided by an unforseen situation.

Whatever you take from this, it comes down to the meaning of the word "gamble." It’s defined as betting on an uncertain outcome. So check your dance card as the party officially starts this week.

I’ll check back with you from Reno.

Art, science form football betting lines

August 26, 2008
by Jimmy Vaccaro

As published in GamingToday

With the first week of college football coming up, it is always interesting to see where games open and close. The pro’s setting numbers makes things easier for various reasons.

We rely on technical, fundamental, and situational criteria for a starting point, but the landscape has changed in the last 15 years for both players and bookmakers. It’s a little easier this year since games have been posted for almost a month.

This creates the ability to see some line movement and decide whether it was caused by money or adjusting to our knowledge of the teams, coaching changes or simply philosophical differences.

The most intriguing game in Week 1 is Utah traveling to Michigan. I opened the game at Utah +6 and been hovering at 3½ and 4 since. Taking $20 dollars a rattle a month out was what I considered a fair bet, but quickly was hit with these two-limit bets and have settled in with the current number.

If we go back to last year’s final power ratings, Michigan would have been a substantial favorite. Eight months later we know the Wolverines have only three offensive starters back compared to seven on defense. There is a new coach (Rich Rodriguez) and a whole different idea on how to run an offense.

Utah comes in loaded with 14 returning starters and averaged nearly 28 points a game. Still, the Utes come from the Mountain West. So where does the art and science come in? Well, science tells you the number should be about where it is. The art falls to the guy behind the counter.

It is getting to the point where you are almost asking Utah to win a game in a pretty hostile environment. I have no idea who will win, but I do know that I will move the game much quicker if money shows on Michigan and much slower if more cash comes in on the dog.

This is where the art comes in.

You can’t go by the manual anymore. Today, bookmakers in top spots push to a side more than you might realize. They are to some degree acting (as they should) as players. Even at this early stage of the season, if I get lopsided with Michigan money and close the game where I started, then I did a bad job on that game.

Forget the outcome because sometimes it’s how you get there that’s a testament to understanding the whole business. We will relive this situation 1,000 times before January so if you save 40 or 50 limit bets, you are deserving to be sitting in the captain’s chair.

Take care and use your head. It’s a long season.

'Lady' is a champ

August 19, 2008
by Jimmy Vaccaro

As published in GamingToday

From the early 1980’s, you saw a whole new dynamic added in the Race and Sports industry – women.

There were always a few before, but now the ladies were becoming an integral part and for the first time handled decision-making situations. I was fortunate to work with women from the outset, having hired Katherine Mannix as the first race book manager in Southern Nevada when we opened the original MGM in 1985.

Katherine managed a first class book in a pre-pari-mutuel era. That meant she booked to extensions as well as anyone I’ve seen before or since. Katherine was taken from us way too early in life.

Lori Ellefson could book sports with ease and had a great feel, especially with high-limit players. Yolanda Acuna could probably build you a book with two nails and a hammer.

Now there were days when the closest you got to a woman was four miles and they let you know it. As the industry grew, women were more involved with the hiring process. With new government and gaming regulations, they wound up being the teachers to adhere to this new way of doing business.

I guarantee that Art Manteris or Tony Miller would never go to a budget meeting without Carolyn or Dori attached to their hip. They show less emotion when handling problems and dealing with customers.

Have you tried to get a guy to do something when the Sunday night game has started? You might as well put him in the front row as he’s cheering for someone to complete his 3-teamer. Go to a compliance or human resources meeting and see who comes back with notes.

I tried to put the Sunday NFL games up once and all I got was "The Andy Griffith Show" and "Ozzie and Harriet."

Ladies are all over the map now. Jamie Shea is at the Hard Rock, Glynis Mickelian at Primm among many others.

It is long overdue, but the time is coming for a full-fledged race and sports director to wear a skirt. So next time you’re in a book, ask for the lady of the house and say thanks for all the things they do.

Next week: College football begins. Is it more art or science?

Good or bad, we're not hesitant to plan ahead

August 12, 2008
by Jimmy Vaccaro

As published in GamingToday

Webster’s defines the word idea as "a plan for action."

Now a lot of us have plans and we like action, but how does it come together in sports gambling? On the south side of the counter you want action. The other side wants to gamble, but with an idea that can create synergy and a random result that would make the 11-10 work well in the long run.

I have had hundreds of ideas over the years and am batting about 50 percent, which is all anyone can expect. To think you are going to win them all is a mistake. At times we pull things off the shelf if they do not show a good profit at once. This in turn will curb the creative side.

You must have some patience and belief in what you’re doing and hold on for awhile. I will mention some good ones and bad, hoping to bat 50 percent from here on out.

A good one is NFL regular season wins, brought about by one customer at the Golden Nugget asking for the Dallas Cowboys. The futures prop is still in use today and has broadened into other sports. I didn’t beat it every year, but it was worth the wager.

A bad idea was in progress quarter betting. First and goal from the 8 and the dog is down by 4 with the ball. I made the dog -3. What do you do with it?

Because of only a few minutes between quarters, the scene at the Mirage was like the film "Trading Places" when they opened bidding on O.J. futures. A bad idea.

A good idea: The Mike Tyson-Buster Douglas fight with us the only place from here to Pluto to offer a bet number. And did we write tickets on this baby! If memory serves me correct, we wrote nearly $7 million on a fight that was out of the country and on tape delay.

When Douglas came up with the upset, we made a great payday and were featured on every talk and TV show in existence. I ran into (Mirage owner) Steve Wynn a few days after the fight and he grabbed me by the shoulder and sternly said "What are you doing back there?"

I thought I was in trouble, but as the big grin came over his face he said, "Go back there and think of something else." A great idea.

Bad idea: The Pat Lawlor-Roberto Duran fight that was the undercard to Tyson-Razor Ruddock. This was coming off a rare Duran loss, so I thought I would pick up a bet. I posted Duran 30-1 over Lawlor. If anyone ever got a gander at Pat, he was a guy straight out of "tough guy fights" who wore a hat with a ball on top when he entered the ring.

Bingo, Duran quits in round 6. We blow about $54,000 on a walkover. We could have won, but the bad idea side came from me pushing something that wasn’t necessary.

Ideas should be thought out. Get a few opinions from people you respect and act on it. After all, what is the worst that can happen besides losing your job? There is always another idea.

Next week: Women in the race and sports place.

Keeping it basic

by Jimmy Vaccaro
August 5, 2008

As published in GamingToday

A lot has changed since I wrote my last article for GamingToday both personally and professionally.

Personally I got older, took my first airplane ride in almost 15 years, got drenched by Shamu at Sea World and spent some time at the Atlantis Resort on Paradise Island Bahamas.

Professionally, I took a position with Joe Asher and Lucky’s Race and Sports Book, which surely will pop up in conversation as the weeks roll on. Being reintroduced to the industry after almost 12 years away, I quickly found a myriad of changes, good and not so.

As Willie Mays said about baseball, "You throw it and I’ll hit it. You hit it and I’ll catch it." Pretty basic stuff.

In our world, it comes down to you at the counter reaching in your left front pocket laying 11-10. Either you come back in three hours for your cash or there’s a receipt worth no more than the paper it was written on. I will discuss the basics, but with the intention of showing the morphing of the industry from the 70’s and where both you and I believe it will go.

Remember it was a short 30 years ago that the Super Bowl was simply side and total with an occasional spot putting up a halftime. Now you need three days just to go over the menu for the big game. Could you ever conceive that a game like Oklahoma-Nebraska would be pre-empted by Dixie College vs Portland State? And then there’s March Madness with two games and cut-ins from the first Thursday through Sunday.

I could go on, but you get the point. We have made massive strides, but I will be a point of contention of not moving quickly enough and being creative in ways that have not been addressed or tried. Sports gambling can be entertaining, romantic, challenging, and most important "humbling." I have seen this racket bring down more men than the Wall Street crash of 1929.

We will discuss issues such as the cell phone ban and where it will go if repealed. I believe there will be many aspects to this story and maybe some not real pleasant. We’ll examine the general apathy at times of the industry, whether it was better years ago or just hollow old men rooting to be younger again?

This column will be aided by anyone who has bellyed up to the window and joined the fraternity. No diploma needed, just some heart and always a little cash. So we’ll discuss sports gambling issues woven in with a few old stories, but always looking ahead.

Hey, even I have come a long way with the plane ride and staying at Sea World.

Next week: Some good ideas and bad ones.

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