Sports books at land-based casinos in Las Vegas are suffering for a variety of reasons. The recession has caused declines in gambling dollars bet overall, and predictability within the NFL has given players an opportunity to overcome the books, however the long-term issue often is the flight of patrons to online casinos.Vegas casinos are having a difficult time competing with Internet gambling sites which might be in a position to offer significantly more exotic and specialty bets, while offering standard sports bets at a lower vigorish. While land casinos' pools are constrained to the choice of physical visitors, the international masses from which online casinos can draw gives these operations the risk to chop customer costs and introduce entertaining plays not available at the Strip.
Sports books was hurt by the weird disparity on this season's NFL, which includes a high choice of simply horrible teams, incapable of covering spreads that may has been ridiculous in past years. But such trends are always short-lived, and bookies report money flowing back into their pockets the last several weeks.
However, the fashion to put action at online gambling operations, in preference to finding a pal to put the bet in Las Vegas, could be a more permanent and troubling one for sports books. The power to regulate plays on the last second, with no Vegas trip, has led many former customers of barroom books to online betting.
And the increased interest lets online sports books benefit from the benefits of bigger pools, meaning profits are still secure at 5 percent additions to losing bets, as opposed to the Las Vegas standard of 10 percent. Also, proposition bets, which find almost no action in Vegas and leave books exposed, are a growing industry online.
While Las Vegas has often treated sports betting as a barely tolerated cousin, used mainly to attract players to the tables and particularly slots which enrich gambling resorts, online gaming sites exploit low overheads to customise play for sports betting. And now, Vegas has to fret that if sports betting goes the way in which of the Internet, how far behind can slots and blackjack be?
Published on November 22, 2009 by MattMiller
Read More... [Source: Las Vegas Casinos in the News]
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