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Betting favorites are expressed with a minus sign and underdogs with a plus sign. Contact reporter Todd Dewey at tdewey reviewjournal. Follow tdewey33 on Twitter. World No. Patrick Cantlay is now the favorite at Perhaps more improbable than Tom Brady leaving New England after 20 years and leading Tampa Bay to a Super Bowl title in his first season there was the manner in which the Buccaneers beat the Chiefs.
February 10, - pm February 10, - pm. February 9, - pm February 9, - pm. And and I think that's a it's a difficult challenge that that's face right now. I mean, one of the one of the things I think about is, you know, when you want to grow the market, you have to grow your number of customers, you have to get more out of your existing customers.
And I completely agree that product and technology will drive that but I think more so. It's about the form of energy sports is a form of entertainment itself. So I think if, you know, we had much more festive experiences around sport that would drive sports betting and introduce, you know, more casual fans, to sports betting, as part of an overall entertainment experience. That's more festive. I think that would go a long way, not only for sports bettors but for franchises.
And I think if you compare some of the big sports franchises out there, compared to other entertainment franchises like Star Wars, you know, there's They don't have the same kind of value because they haven't, you know, appeal to as broad a group as they could. If it were more, you know, entertaining, and I think, you know, you're seeing that start already, you know, years ago used to be sports, where the entertainment in and of themselves now it's much that it's almost like a night out that includes sport as part of a food and beverage or social, experiential type situation.
And then if you create some kind of competition in sports betting, where it's more than just checking your bank statement, it's sort of like seeing where you rank compared to your peers or, you know, sit in stadium experience, and you have people competing against each other competing and other arenas, things like that.
You can create something that's much more interesting than just simple sports. I want to when we started off and just saying the biggest surprise I think one of the other things I've noticed is just how incredibly complicated This is and how many different moving pieces and parts are going to have to come together and work together.
And it is a bit of a speeding car down the highway trying to build it at the same time. I mean, the operators are being pulled in a million different directions trying to get market access, trying to get their product up, trying to make private payment processing better smoother, trying to do deals with the league's and the media companies.
And so there's a lot of things that are going on. And I think to your point about, you know, how do you grow the market? Or how do you there's, there's going to be a whole player acclimation period that's going to have to occur and I say this as someone that does not sports, but and has, you know, really tried to understand and learn, and quite frankly has never really been targeted, you know, to to place a bet.
So women namely are I think a whole market that, you know, has potential as is I think those people that maybe weren't betting or have never met in the past but would be interested in doing so. And it's how do you educate them around the product to get them interested in nothing to place about? What role do you guys think? I mean, when I think about growing the handle, obviously having, you know, professional gamblers who are high volume and putting lots of money through a system and having it the markets evolve more to being like financial markets versus, you know, recreational markets.
Do you think there is an opportunity for that for things like exchanges? Or do you think that's just sort of pie in the sky kind of stuff? I mean, I can take that one since we operate globally the Betfair exchange, which is the largest betting exchange in the world. I think, from the user perspective, the A lot of what the exchange is about is about price and it's tended to be a lower price model.
I think the challenge with the exchange model is what Sarah mentioned, which is the wire x. Thank you for no problem. The I think the biggest challenge of the exchange model in the US is going to be the wire Act, which is the way the wire act works today, you would basically have to have each state serve as its own exchange, and you couldn't share liquidity across state lines.
And so we think that the wire act is going to be the biggest impediment to really building an exchange type product here in the US. So if you guys, do you think that that would be if that were feasible? Do you think that that would be something that you guys would go after? From our perspective, it's it is definitely a product we think there's demand for we would absolutely explore it and you know, the way we look at it is the other big thing to solve is it's a very sophisticated product.
You're talking about backing a better laying a bed and it to Sarah's point about acclamation is there just aren't that many people my illegal market comment aside that are sophisticated enough they would feel comfortable in an exchange today, basically I research right and so part of it is actually about your rethinking and creating a simpler version of the exchange to make sure that people feel comfortable operating in that environment, if that's what they want to do.
I actually think,. And I think we live in a world where, you know, the in in game in line betting, which is when you're betting as a contest is taking place, is future, you know, sports betting is, and I think an exchange really facilitates that. So if I make a bet on a team and in a football game, and they get a couple of lucky, quick touchdowns, I may want to cash in on that, as opposed to see what happens for the rest of the game. Conversely, if I'm down, I may want to punch out and get involved in something else.
So I think having liquidity and the ability to transact more and take advantage of situations in real time would be beneficial. I mean, I think it's obviously beneficial to the to the fan, but is it beneficial to you guys as operators because clearly, you know, Like you mentioned in play wagering, right one, there's many, there's many layers to white and play wagering is not as big as it should be in the us right now. Some are technical, but some are also risk management.
You guys are not comfortable taking, you know, in play wagers you, you know, it put delays in specifically for risk management, and create somewhat of an unfair game for the sports fan. So, I guess, I guess the question is, like, if you really think about growing handle, isn't it kind of about trying to create, you know, allow all sorts of betters not just recreational betters and worry less about margin and more about volume and ultimately, that will grow handle over time?
I mean, I would I would challenge. Why are we Why are we trying to grow handelman you know, what, like, handle doesn't mean anything. Margin revenue, that's what matters right? So I can I can use that matters to you. Right, the higher margin is really bad for the fans. Right, but that doesn't mean anything to me as an operator.
So our goal as operators is not to increase handle, it's not, you know, you can't look sportsbook, desportes look and say, Oh, these guys have a handle these are be handle and just subtract them and know that, okay, they're operating the same. So it's, I get what you're saying. And I understand that, you know, the professional, better is feeling the the US model as retail books are coming in.
We have lower limits, we have trading risk management, we're not trying to get picked off on bad lines. I understand the debate. I just don't think the answer is to say, okay, allow people to bet more on on markets just to increase handle. But I think Jeff, to your point and we talked about solving for is actually active players, right?
It's not actually handle or revenue. What we want people is more people playing more often. And frankly, even though they're playing last each time, that's okay because to what you're getting at How do you make sure you're delivering something that consumers love. And the way we've always looked at it is the best way to prove that is that it's something that more people want to play, and they want to play more often.
And frankly, you'll figure out the monetization as you go. So that's how we run is we want just more players,. Slightly different notion. I mean, I believe that and maybe it's a function of living here in Las Vegas and always seeing that the best properties seem to do the best and good times and bad is that you should invest if you have a long term view, you invest in your customer base, and that may hurt your short term margins that may hurt your short short term revenues.
But at the end of the day, in , you'll be better off for having invested in that customer base and having that customer base stick with you and decreasing your acquisition or acquisition costs, in creating that extraordinary experience, whether it's through great betting opportunities, or through other things that you get as a benefit for being a sports better I think that pays off.
I like that what you were talking about in terms of sort of customer metrics. So how do you balance? Or how do you how do you balance like customer health versus margin? Because like, if you you know, I, I've sat in meetings with sports with operators, not none of none of which are on this on the stage right now, where they've bragged about the the handle or the whole percentage that they have. And as they say this, I just think like, that's, that's terrible, right. And so, but but I understand you need to make money, right.
So, like, there is a world where there is a reasonable margin business with high customer satisfaction. So how do you think about that from a metric standpoint? And so we look at it through that kind of your time value of entertainment perspective, because the reality is, we're competing for a share of the entertainment wallet, and it's not just about betting, it's about everything else that could be doing and we want to make sure that we're good value for the money.
I just had At one point in this whole thing, which is I think that this is what the opportunity is right? Like when you sit here and you think about innovation in the industry and sports betting was largely restricted to Nevada, in the US, not a ton. So that gives you a flavor for how small a piece of the total gaming revenue, the operators just not focused on it. They didn't invest in it.
They didn't do a lot of research in it. Yeah, I think that's a good a good way of looking at it. And, Matt, I like that, you know, the movie ticket analogy or just the general analogy of entertainment value. It's the best experience ever. I want to come back. Okay, so let's talk a little bit about let's switch to states. We talked a little bit about sort of regulatory taxes. We've talked about competing with the black market, the gray market. But as these states roll out, there is a wide variety in what they are doing from a taxing standpoint, from, you know, sort of like a regulatory standpoint for mobile.
What states do you guys think right now are the models that the other states should be looking at for success for successful innovation, that space. They all said people said Michigan people said Colorado. People said Pennsylvania No, actually no one's in Pittsburgh. Pennsylvania has a very high tax rate.
So it's Yeah,. Indiana's doing a nice job right there. They've gone quickly on sorry, Indiana, Russia, they've moved quickly on provisional licensing. It's a competitive mobile market. It has I think a lot of the same things as New Jersey does. But I mean Indiana was the other one that we noted is doing a nice job.
So New Jersey was an interesting one because while people thought it was a great you know, what they rolled out was great there they gave out so many skins that it becomes a very competitive market right and as operators I think that that's a challenge for you guys to look at that as a good thing when there's that many skins but I mean, I guess the question becomes, is competition good for this industry?
Or is it bad and what is like, do you think all for like all three of you guys Will you guys all have successful sports book businesses in 10 years? I would hope we would all say yes, I think I think competition is good for the market. Obviously, it's tough on us in the short term. It's great on, it's great for customers. I mean, you can go to New Jersey 17 books and get 17 new signup offers and daily promotions everywhere you go.
Obviously, it's, it's competitive, it's costly for us to acquire customers, especially in New Jersey. I put Colorado as someone or a state that I'm excited about their regulatory environment, low tax rate, there's going to be enough operators mobile, but our interaction with them they've been very pragmatic from a product and tech side.
You know, we we have a lot of challenges that we have to deal with day in, day out just to release it's not like the wild Or startup where you can do five pushes a week and have new code out there. Or if there's an issue, you can turn it around and get it solved.
You know, it has to go through lab, it has to be checked off by regulators. So the time to market for everything that you want to do and innovate on takes forever, in Colorados from our interaction so far, they're not live yet, but but we think it's going to be, you know, they're taking a pragmatic approach to understanding these challenges for us and trying to step back and say, you know, we want you to be able to innovate, we want you to be able to be quicker to market.
They don't want to throw up kind of the red tape. But I think I mean,. Mike raises a good point, which is the, the interaction with the regulators is actually going to be what proves a state to be a good state or bad state over a long period of time. And because if you put yourself in the shoes of a regulator other than New Jersey, this is the first online product that any regulator is regulating. And so you have regulators that are just trying to do the right thing which is protect customers first and foremost.
And so the My view would be, which states are the best are going to be? We don't know yet. Because it's going to be the ones that to Mike's point, work most collaboratively with the operators to allow innovation to happen. And I think it's just too early to.
It's interesting, right? Because like, we kind of had this whole thing with the gray market and like, how do we allow? How do we start converting people? And how do we foster innovation? In a regulatory in a highly regulated environment? What are some suggestions you would give to regulators to help? Like one I would think about, that's very relevant for this audience is in most casino environments, and Scott can speak to this better than I, every vendor had to be licensed, and so front, and you kind of get it because a vendor is walking through the cash cages and everything else.
And we've seen regulators that apply that mindset to an online environment. And so I have to go to every single one of my martech vendors and say it If you want to stay in our stack, you need to get licensed in the state. But it has a very big impact on my ability to bring the best technology to bear for customers. And so thinking about things like vendor licensing in an online world, new indistinct, as opposed to simply an extension of what they've done in the brick and mortar world, I think would be one example.
So the best regulars are the ones that take the time to understand the business, understand how technology works, understand the benefits of technology, and how it can actually increase security and in checks and balances and things that a regulator wants.
And because this is a new business for most legislators and regulators, we spend a lot of our time just trying to educate them on that. So if they can get up to speed and understand what we're doing that that'll be the best environment, terms of competition, just to take a step back there.
I think that competition is good for the market, but having healthy operators is also good. So you need to find that inflection point, I was one of the people that mentioned Michigan because Michigan has a lot of the benefits as Indiana, of New Jersey, but with with less comp, less less skins available so that you could have, you know, it operators who can come in and invest in product, invest in people and give people comfort that they're going to be around a while.
So one of the problems of having unlimited competition from a customer standpoint is you may become a loyal customer company that goes out of business. And that's not a good experience, or you may have trouble getting your money back. So I do think there's an inflection point between competition and having healthy, you know, stable operating environment. Let's not talk about like buzzwords, let's actually talking about specific things that you think, you know, may evolve that will change sports betting and will will will make, you know people winners and losers in this, you know, operators winners or losers like what are those types of things now, Matt, you weighed in with, you know, customer service and the whole experience around like how you treat your customer.
That makes sense. But, I mean, we're talking about again, like this idea that I as I'm not a millennium middle millennial, I'm way too old for that. But like, the millennial that wants to go in, makes a bet and then waits four and a half, five hours for that to be settled. That's not the experience millennials want. So what is what is the real innovation that's going to happen in this space? Like if you could, you know,. I have cash out available. I have Play average football game I have over and play markets running,.
So look, I think that's not to say there's not a lot more we can do. Like, I think one of the things that, you know, we're spending a lot of time with is personalization. So if you think about in for the average NFL game, we have different markets, so different things somebody could bet on. That's a lot. And it's very overwhelming to the casual fan, but it it's the level of flexibility that people want. And so one of the things we have to figure out is how do I build a user interface that makes that breath of choice that limitless betting digestible to the average fan and Overtime learns what they want to bet on, and then serves them that content in a much easier way.
So, personalization will be one area where I'd say, you know, we have to catch up to what a lot of the other tech companies are doing. Because as we add more capabilities, it's going to become more overwhelming for people if we're not careful. And I would, I would say, I was gonna, I think it's a really good point. And just the subtlety of how this is all handled. I mean, if you look around the world and what happened in the UK, and this sort of in your face direct advertising for sports betting, and I think those days have kind of come and gone.
I think the operators are pushing back on some of the media companies and the league's about, you know, how much money they're going to spend and what they want them to do as far as ad ad placement, everything else. And I think that it is much more of a customization process. And again, I get back to that sort of acclimation period.
You've got a lot of grand dreams right now and hopefully they come true with in play prop betting on baseball and hockey and basketball. But there is a lot of work that's got to happen between now and then for that to be 16 Aspel I mean, I think the ultimate dream, right is to have an in play products, people are sitting at home, watching the game being a little bit on every single play.
But again, I get back to it's all got to work together. And again, from a consumer standpoint, this is such new territory for me like, what does this mean? How does it work? So again, I think there's just a lot of work that's got to be done on the front end for that to actually come to fruition. Yeah, I think from a product side and the competition side, I think 10 years from now, as you're trying to get to, it's going to be a totally different industry, we're going to be across the states, but competing in specific separate markets in every state.
So you can have different competitors, every market, you're going to have different dynamics, every market, you're going to have a move towards being local in every market. I think that's going to bleed through the product. I think you're going to see customization but you're also going to see the people the millennial like really the Gen Z and 10 years that you're trying to get They're not the person that came up betting on an illegal sports book, or they're not someone that as we were talking about in today's, you know, environment, they're already kind of familiar with products like this, I think education is going to continue to be bigger and bigger and bigger as you become more and more recreational.
In today's word, recreational just means not professional, but it doesn't mean sports fan.
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But offshore sportsbooks closed betting on the battleground state more than 90 minutes ago, when Trump was a -4, favorite. In fact, Pinnacle made Trump a favorite to win Florida at p. So how did the offshore books have Trump as a heavy favorite to win the state so much earlier than the news networks?
He was -1, to win South Carolina and -5, to win Alabama. Biden was -1, to win Colorado, and Trump was -5, to win North Dakota. But Trump is a heavy favorite on Betfair Exchange to win both states. Biden was -3, to win Connecticut, and Trump was , to win Arkansas.
Biden was -3, to win New Jersey, and Trump was , to win Arkansas. Florida, Georgia, North Carolina. Trump was -5, to win West Virginia. Trump leads overall in electoral votes right now. He was -5, to win Tennessee. Trump was , to win Kentucky.
None of those is a surprise. Biden was , to win Massachusetts, -5, in Maryland and -5, in Delaware. Trump was , in Oklahoma. Biden was -5, to win the state. CNN projects he will win Indiana and its 11 electoral votes. Trump was -2, to win the state on Betfair. Favorites are expressed with a minus sign and underdogs with a plus sign. Here are some key state races, with the favorite at Betfair. The odds are as of Monday night to give a picture of where the race stood before Tuesday:.
Contact Jim Barnes at jbarnes reviewjournal. Contact Todd Dewey at tdewey reviewjournal. Follow tdewey33 on Twitter. Review-Journal staff writer Adam Hill contributed to this report. World No. Patrick Cantlay is now the favorite at Perhaps more improbable than Tom Brady leaving New England after 20 years and leading Tampa Bay to a Super Bowl title in his first season there was the manner in which the Buccaneers beat the Chiefs. Las Vegas books reported a win their 29th Super Bowl in the 31 years since the Nevada Gaming Control Board started tracking the game in Democratic presidential candidate former Vice President Joe Biden visits with residents across the street from the Joseph R.
Biden Jr. Aquatic Center in Wilmington, Del. Democratic presidential candidate former Vice President Joe Biden speaks to reporters during a campaign stop in Wilmington, Del. Trump and Biden have starkly different visions for the international role of the United States — and the presidency.
Don't miss the big stories. Like us on Facebook. Offshore sportsbook refunds bets on Super Bowl streaker. February 10, - pm February 10, - pm. February 9, - pm February 9, - pm. Worst bad beat in Super Bowl involves Italian soccer. Nevada Super Bowl betting handle lowest since February 9, - am February 9, - pm.
Glitches cause issues for some betting outlets during Super Bowl. February 8, - pm February 8, - pm. Our guide to how the Coronavirus has affected Vegas election odds goes into further detail about primary postponements, President Trump's odds, candidate odds, and more.
Relatively early on, the Presidential candidates were finally narrowed down to just two, Joe Biden and Donald Trump. The Democratic field started with 27 candidates, but the field has slowly eroded away to the remaining candidate. Other Third-Party candidates and Independents were expected to run and did so , but there were only two real candidates for the Presidential election. You can find valuable information on those two nominees and other potential candidates in our political news section.
With the general election all but over, it appears that Biden has the edge on Trump to win the White House. The results are sure to be contested, and you can bet that there will be plenty of betting lines and props on all the intrigue that's headed our way in the aftermath of November 3. In addition to betting on the Presidential election, there were other political betting options available to US bettors during the latest cycle.
The following types of election betting lines can't be found in Vegas, but online, the political betting options are endless. Vegas odds on the Presidential election have been a highly sought after commodity this year, and as the November 3rd Election Day neared, gamblers were becoming even more active on political betting lines. Political wagering involves unique nuances and distinctions that other betting markets do not touch on and taps into a very personal and emotional segment of the wagering experience for American gamblers.
Never before has a United States Presidential election been so volatile or included such controversy, and this could be the new norm. Record-breaking early voting statistics are both a result of the most dramatic Presidential election in American history and a big influencer on the odds boards.
The following are some of the most frequently asked questions concerning Vegas odds on the Presidential election and how bettors can participate in this popular trend that is taking the gambling entertainment industry by storm. As long as your are placing your bets at a legally licensed and regulated online sportsbooks located outside of the United States, then yes, it is perfectly legal for US gamblers to bet on the Vegas election odds and all other election lines.
The sportsbooks featured in this guide are all operating legally within the industry and offer legitimate wagering opportunities to American bettors. There are no US federal laws that prohibit Americans from enjoying online political betting at a legal online sports betting site that holds the proper credentials and operates overseas.
Unless you live in the state of Washington or Connecticut, state gambling laws do not make it illegal to participate in licensed online political betting from offshore destinations. However, the anti-online-betting laws in WA and CT are historically unenforced, though you proceed at your own risk.
Note: You will currently not find election odds at domestic Vegas sportsbooks or other physical or online venues based in the US. However, it usually isn't technically illegal for these books to offer political lines. Instead, state gaming regulators are simply reticent to offer such lines to the public.
That's why offshore betting remains your best bet for political wagering. You will find that the Vegas odds on the Presidential election do not always line up with the latest polls released by various media outlets. This is due to several reasons. First, the polls are often manipulated and manufactured in order to influence public perception and sway the masses. Secondly, political polls simply are not reliable due to the many variables involved in authentic polling and tracking.
When the oddsmakers are determining the relevant and current odds, they use a more effective and well-rounded series of data and research to reflect the actual pulse of the American voting public. It is in their best interest to achieve a clear and concise understanding of how the voters are leaning in order to ensure the integrity of the betting action and to minimize their risks.
In many ways, the Vegas betting odds for who will win the Presidency are more reliable than any political poll. While you will certainly find Vegas odds on who will become the next President of the United States, you will also find betting odds and lines that cover a host of other categories, including the following:.