Good Article On Super Sunday At South Point
- Thread starter Heim
- Start date
Heim
EOG Master
LAS VEGAS — It was 1:30 a.m., and Chris Andrews, sportsbook director for the South Point hotel, was asleep at home when an unfamiliar customer approached a betting window at the casino, wanting to wager 300 grand on the 49ers to beat the Chiefs in the Super Bowl. A supervisor woke Andrews to approve the bet, only for the customer to realize he didn’t have enough cash on hand.
Andrews got to work Friday morning eager for updates on “Mr. 300,000,” who returned about an hour later carrying a cone from the hotel’s ice cream shop as well as the money, converted to South Point chips, and this time opted to bet $243,000 on San Francisco. Andrews chatted briefly with the man before wishing him luck.
Andrews and his right hands at the South Point, Jimmy Vaccaro and Vinny Magliulo, have a combined 147 years of experience taking bets in Nevada — and a philosophy that dates from a time when relationships and a human touch ruled an industry that has rapidly changed. For them, bookmaking remains a blend of art and science, in which odds are adjusted depending on what respected “wiseguys” are betting. That means being able to size someone up in an instant and know whether they’re sharp or square.
Around town, sharp money mostly backed San Francisco at this year’s Super Bowl, while recreational bettors heavily favored Kansas City. Yet Andrews suspected “Mr. $300,000” was a square, albeit an exceptionally deep-pocketed one, and his wagering history supported that. He had lost about $22,000 to the South Point last Super Bowl, a colleague relayed to Andrews. In other words, the colleague said, “He’s just a gambler.”
Getting a six-figure bet from a square “is like finding a diamond ring,” Vaccaro quipped in the sportsbook’s back office, where the South Point gave a reporter a rare opportunity to observe some of Las Vegas’s most respected bookmakers in action during their busiest weekend of the year.
The South Point doesn’t have the bottomless advertising budget needed to get Peyton Manning or Jamie Foxx to hawk its sportsbook. It doesn’t pay media stars like Bill Simmons and Pat McAfee to promote elaborate same-game parlays that benefit the house. Instead, the hotel’s distinctly old-school sportsbook, located about six miles south of the Strip, lures customers with reasonable odds, friendly service — and $1.50 hot dogs.
One of the last family-run hotels in town, it’s owned by Michael Gaughan, 80, who sat in the sportsbook’s office two days before the Super Bowl with a hint of mustard on his lower lip from a lunchtime frank. He enjoys hanging out there, seated next to a sign on the mini fridge that reads, “Do not drink the Dr. Brown’s root beer. They are for Mr. Gaughan only!” The fridge also contains a jar of Grey Poupon that Andrews keeps for a professional bettor who once complained that the hotel only serves yellow mustard.
Nationwide, the vast majority of sports betting now occurs online, but Andrews said his sportsbook does roughly three-quarters of its business in person, while still managing to take more bets than any operator in the state.
Marveling at the sight of thousands of bettors passing through the casino to wager on the Super Bowl, Andrews reminded Magliulo, “We don’t do it with advertising and other sh--. Value, value, value. That’s our thing.”
Gaughan supports anything that can boost foot traffic, such as serving $2 Budweisers on NFL Sundays or Andrews’s idea to offer -105 odds on the Super Bowl point spread instead of the standard -110 — roughly a five-dollar discount on every $100 wagered.
Ahead of Vegas’s first-ever NFL title game, greed was a frequent topic of discussion in the back office. Corporations “want to kill the golden goose yesterday,” Gaughan said, grumbling about a hotel on the Strip charging $160 for valet parking that weekend.
Five years ago, some Nevada casinos feared that the spread of legal sports betting would threaten their bottom line. Now business is booming here like never before. Nevada took a record $185.6 million in bets on the Super Bowl — more than any of the 37 other states where sports gambling is regulated. Andrews had expected to handle around $10 million of that.
But while sports betting might be more popular than ever, Andrews and his peers are dismayed by much of what the industry has morphed into: shrieking ads, deceptive promotions, astonishing margins. They vent about the “European model” of bookmaking that’s taking hold across the country, in which customers who show winning tendencies are aggressively limited on how much they can bet, sometimes down to pennies.
“It’s not gambling,” said Richie Baccellieri, a former South Point bookmaker who now works at the downtown hotel Circa. “Everybody just wants to fleece the customer.”
The South Point welcomes big bets from sharps so that it can refine its odds accordingly. Last weekend, Bill Krackomberger, a baby-faced, heavyset pro bettor who wears Kangol flat caps, showed up to bet several thousand dollars on Super Bowl props, which involve player and team statistics. Magliulo and Andrews spent a few minutes schmoozing with him and offered to comp a meal.
“This is the old Las Vegas,” Krackomberger told The Post. “I beat them every Super Bowl, and they still want to take care of me.”
Andrews, Vaccaro, Magliulo and several supervisors occupy a small office adjacent to the betting counter. The walls are covered with memorabilia from Andrews’s beloved childhood team, the Pittsburgh Steelers, as well as a poster from the 1939 comedy “The Day the Bookies Wept,” about a racehorse that wins by drinking beer, and a letter to Andrews from Harry M. Reid (D-Nev.) , the late U.S. Senate majority leader. Congratulating him on joining the South Point, in 2016, Reid wrote, “The impact of your work in our community is admired and appreciated.”
Andrews, 67, sits in the middle of the office. Two of his four computer monitors display incoming bets, color-coded by dollar amount. He faces a grid of nine mounted TV screens, one of which was dedicated, until moments before kickoff, to Turner Classic Movies. While booking millions of dollars, Andrews and his confidants got much more animated debating the acting performances in “Roman Holiday” than they did over any oddsmaking decision.
Andrews learned the game, and the customer service that comes with it, from his uncle Jack Franzi, a revered sports bettor who also wrote a little action in the back of a candy store. Andrews was booking classmates by fifth grade and taking bets in the stands when his high school football team defeated Joe Montana’s squad.
Andrews got to work Friday morning eager for updates on “Mr. 300,000,” who returned about an hour later carrying a cone from the hotel’s ice cream shop as well as the money, converted to South Point chips, and this time opted to bet $243,000 on San Francisco. Andrews chatted briefly with the man before wishing him luck.
Andrews and his right hands at the South Point, Jimmy Vaccaro and Vinny Magliulo, have a combined 147 years of experience taking bets in Nevada — and a philosophy that dates from a time when relationships and a human touch ruled an industry that has rapidly changed. For them, bookmaking remains a blend of art and science, in which odds are adjusted depending on what respected “wiseguys” are betting. That means being able to size someone up in an instant and know whether they’re sharp or square.
Around town, sharp money mostly backed San Francisco at this year’s Super Bowl, while recreational bettors heavily favored Kansas City. Yet Andrews suspected “Mr. $300,000” was a square, albeit an exceptionally deep-pocketed one, and his wagering history supported that. He had lost about $22,000 to the South Point last Super Bowl, a colleague relayed to Andrews. In other words, the colleague said, “He’s just a gambler.”
Getting a six-figure bet from a square “is like finding a diamond ring,” Vaccaro quipped in the sportsbook’s back office, where the South Point gave a reporter a rare opportunity to observe some of Las Vegas’s most respected bookmakers in action during their busiest weekend of the year.
The South Point doesn’t have the bottomless advertising budget needed to get Peyton Manning or Jamie Foxx to hawk its sportsbook. It doesn’t pay media stars like Bill Simmons and Pat McAfee to promote elaborate same-game parlays that benefit the house. Instead, the hotel’s distinctly old-school sportsbook, located about six miles south of the Strip, lures customers with reasonable odds, friendly service — and $1.50 hot dogs.
One of the last family-run hotels in town, it’s owned by Michael Gaughan, 80, who sat in the sportsbook’s office two days before the Super Bowl with a hint of mustard on his lower lip from a lunchtime frank. He enjoys hanging out there, seated next to a sign on the mini fridge that reads, “Do not drink the Dr. Brown’s root beer. They are for Mr. Gaughan only!” The fridge also contains a jar of Grey Poupon that Andrews keeps for a professional bettor who once complained that the hotel only serves yellow mustard.
Nationwide, the vast majority of sports betting now occurs online, but Andrews said his sportsbook does roughly three-quarters of its business in person, while still managing to take more bets than any operator in the state.
Marveling at the sight of thousands of bettors passing through the casino to wager on the Super Bowl, Andrews reminded Magliulo, “We don’t do it with advertising and other sh--. Value, value, value. That’s our thing.”
Gaughan supports anything that can boost foot traffic, such as serving $2 Budweisers on NFL Sundays or Andrews’s idea to offer -105 odds on the Super Bowl point spread instead of the standard -110 — roughly a five-dollar discount on every $100 wagered.
Ahead of Vegas’s first-ever NFL title game, greed was a frequent topic of discussion in the back office. Corporations “want to kill the golden goose yesterday,” Gaughan said, grumbling about a hotel on the Strip charging $160 for valet parking that weekend.
Five years ago, some Nevada casinos feared that the spread of legal sports betting would threaten their bottom line. Now business is booming here like never before. Nevada took a record $185.6 million in bets on the Super Bowl — more than any of the 37 other states where sports gambling is regulated. Andrews had expected to handle around $10 million of that.
But while sports betting might be more popular than ever, Andrews and his peers are dismayed by much of what the industry has morphed into: shrieking ads, deceptive promotions, astonishing margins. They vent about the “European model” of bookmaking that’s taking hold across the country, in which customers who show winning tendencies are aggressively limited on how much they can bet, sometimes down to pennies.
“It’s not gambling,” said Richie Baccellieri, a former South Point bookmaker who now works at the downtown hotel Circa. “Everybody just wants to fleece the customer.”
The South Point welcomes big bets from sharps so that it can refine its odds accordingly. Last weekend, Bill Krackomberger, a baby-faced, heavyset pro bettor who wears Kangol flat caps, showed up to bet several thousand dollars on Super Bowl props, which involve player and team statistics. Magliulo and Andrews spent a few minutes schmoozing with him and offered to comp a meal.
“This is the old Las Vegas,” Krackomberger told The Post. “I beat them every Super Bowl, and they still want to take care of me.”
Andrews, Vaccaro, Magliulo and several supervisors occupy a small office adjacent to the betting counter. The walls are covered with memorabilia from Andrews’s beloved childhood team, the Pittsburgh Steelers, as well as a poster from the 1939 comedy “The Day the Bookies Wept,” about a racehorse that wins by drinking beer, and a letter to Andrews from Harry M. Reid (D-Nev.) , the late U.S. Senate majority leader. Congratulating him on joining the South Point, in 2016, Reid wrote, “The impact of your work in our community is admired and appreciated.”
Andrews, 67, sits in the middle of the office. Two of his four computer monitors display incoming bets, color-coded by dollar amount. He faces a grid of nine mounted TV screens, one of which was dedicated, until moments before kickoff, to Turner Classic Movies. While booking millions of dollars, Andrews and his confidants got much more animated debating the acting performances in “Roman Holiday” than they did over any oddsmaking decision.
Andrews learned the game, and the customer service that comes with it, from his uncle Jack Franzi, a revered sports bettor who also wrote a little action in the back of a candy store. Andrews was booking classmates by fifth grade and taking bets in the stands when his high school football team defeated Joe Montana’s squad.
Heim
EOG Master
Andrews and his colleagues spent little time in the days before Sunday analyzing football while adjusting their odds. “We’ll let the money dictate what we do,” he said.
As his (much younger) colleague Ashley Eck put it, “feel” can be more important to the job than number-crunching. The biggest challenge isn’t coming up with odds, but rather adjusting those potential payouts as money streams in, incentivizing or discouraging certain bets so that, ideally, the house comes out ahead no matter what.
While many of the biggest online sportsbooks set and adjust odds using algorithms and automation, some Nevada operators still make and move their numbers manually. “The computer doesn’t tell us what to do,” Magliulo explained. “We tell it what to do.”
Andrews and Eck spent a few days ahead of the Super Bowl setting their few hundred prop bets. DraftKings, by comparison, offered 1,000 or so Super Bowl props. Major national operators also depend on same-game parlays, allowing customers to stack props for the chance at a bigger payout. Though SGPs are much more favorable to the house, the South Point doesn’t offer them.
The South Point opened Super Bowl betting with a few glaring miscues, like pegging the odds of 49ers running back Christian McCaffrey scoring a touchdown at -400, meaning a $400 bet only stood to return $100. Professionals hammered the opposite side of that wager, moving the odds. “The wiseguys were all over us,” Andrews said. By gametime, a bet on McCaffrey finding the end zone (which he did) paid nearly twice as much.
Super Bowl Sunday was all hands on deck. Gaughan’s son Brendan — the former NASCAR driver — and grandson John manned two of the sportsbook’s 10 ticket-writing windows. Supervisors arrived at 4:30 in the morning. By kickoff, about 6,000 fans had come for free watch parties throughout the hotel. All 138 armchairs in the sportsbook had been occupied for hours.
Andrews, with football-field socks underneath his Skechers, started fidgeting for the first time all weekend minutes before the game started. “I can’t tell if I’m always nervous or never nervous,” he said. The house stood to lose somewhere in the low six figures if San Francisco won and the total score was under 47.
Earlier, Andrews and Magliulo had joked about squares’ willingness to bet on the opening coin toss, even at odds worse than 1-1.
Now, Andrews yelled an expletive when the toss landed on heads, which, for whatever reason, bettors always seem to favor. He, Magliulo and Vaccaro watched the rest of the game stoically, while their colleagues enjoyed a spread of chicken wings, pizza and subs. A few staffers discussed their own bets on the game, something Andrews said he gave up long ago. (“I never want to be in a position where I have to choose between rooting for myself or the joint.”)
During overtime, with Kansas City down 22-19 and just a few yards from San Francisco’s end zone, Andrews remembered that teams don’t attempt an extra point after a game-winning touchdown in OT. That meant the final score was 25-22, exactly the total the South Point had landed on. Thus, every customer who bet a “teaser” — a notoriously unwise combo bet that involves getting +6 or more on one team to win, paired with an “over” or “under” total score prediction — got paid.
Half an hour after the Chiefs raised the trophy, customers were still waiting in long lines at the sportsbook to collect their winnings — or bet on next year’s NFL champion.
The South Point ended up taking slightly less on the Super Bowl than the $10 million Andrews projected. But despite getting wiped out on teasers, the house came out ahead on the game and did even better on props. Just as important, many sports bettors migrated to the pit, where the blackjack tables were full deep into the night.
“Mr. Gaughan was happy,” Andrews said.
As his (much younger) colleague Ashley Eck put it, “feel” can be more important to the job than number-crunching. The biggest challenge isn’t coming up with odds, but rather adjusting those potential payouts as money streams in, incentivizing or discouraging certain bets so that, ideally, the house comes out ahead no matter what.
While many of the biggest online sportsbooks set and adjust odds using algorithms and automation, some Nevada operators still make and move their numbers manually. “The computer doesn’t tell us what to do,” Magliulo explained. “We tell it what to do.”
Andrews and Eck spent a few days ahead of the Super Bowl setting their few hundred prop bets. DraftKings, by comparison, offered 1,000 or so Super Bowl props. Major national operators also depend on same-game parlays, allowing customers to stack props for the chance at a bigger payout. Though SGPs are much more favorable to the house, the South Point doesn’t offer them.
The South Point opened Super Bowl betting with a few glaring miscues, like pegging the odds of 49ers running back Christian McCaffrey scoring a touchdown at -400, meaning a $400 bet only stood to return $100. Professionals hammered the opposite side of that wager, moving the odds. “The wiseguys were all over us,” Andrews said. By gametime, a bet on McCaffrey finding the end zone (which he did) paid nearly twice as much.
Super Bowl Sunday was all hands on deck. Gaughan’s son Brendan — the former NASCAR driver — and grandson John manned two of the sportsbook’s 10 ticket-writing windows. Supervisors arrived at 4:30 in the morning. By kickoff, about 6,000 fans had come for free watch parties throughout the hotel. All 138 armchairs in the sportsbook had been occupied for hours.
Andrews, with football-field socks underneath his Skechers, started fidgeting for the first time all weekend minutes before the game started. “I can’t tell if I’m always nervous or never nervous,” he said. The house stood to lose somewhere in the low six figures if San Francisco won and the total score was under 47.
Earlier, Andrews and Magliulo had joked about squares’ willingness to bet on the opening coin toss, even at odds worse than 1-1.
Now, Andrews yelled an expletive when the toss landed on heads, which, for whatever reason, bettors always seem to favor. He, Magliulo and Vaccaro watched the rest of the game stoically, while their colleagues enjoyed a spread of chicken wings, pizza and subs. A few staffers discussed their own bets on the game, something Andrews said he gave up long ago. (“I never want to be in a position where I have to choose between rooting for myself or the joint.”)
During overtime, with Kansas City down 22-19 and just a few yards from San Francisco’s end zone, Andrews remembered that teams don’t attempt an extra point after a game-winning touchdown in OT. That meant the final score was 25-22, exactly the total the South Point had landed on. Thus, every customer who bet a “teaser” — a notoriously unwise combo bet that involves getting +6 or more on one team to win, paired with an “over” or “under” total score prediction — got paid.
Half an hour after the Chiefs raised the trophy, customers were still waiting in long lines at the sportsbook to collect their winnings — or bet on next year’s NFL champion.
The South Point ended up taking slightly less on the Super Bowl than the $10 million Andrews projected. But despite getting wiped out on teasers, the house came out ahead on the game and did even better on props. Just as important, many sports bettors migrated to the pit, where the blackjack tables were full deep into the night.
“Mr. Gaughan was happy,” Andrews said.
Crazy Pete
EOG Addicted
Very interesting article.
A couple things didn’t seem right. There was a reference to same game parlays on props. They said Southpoint does not offer it but a lot of Internet sites do. Correlated parlays I thought were universally prohibited. It’s a no-brainer to beat them. Article should probably have mentioned that there were heavy restrictions on same gameparlays, that you cannot bet any correlated parlays. Maybe the coinflip or length of the national anthem could be parlayed with SF money line, but no correlation.
Also it said that the “ McCaffrey scores the first touchdown” was -400, so sharps took the opposite side. On that genre of bet, like MVP or ‘ who scored first‘, South Point & Vegas books don’t offer “opposite side” bets.
A couple things didn’t seem right. There was a reference to same game parlays on props. They said Southpoint does not offer it but a lot of Internet sites do. Correlated parlays I thought were universally prohibited. It’s a no-brainer to beat them. Article should probably have mentioned that there were heavy restrictions on same gameparlays, that you cannot bet any correlated parlays. Maybe the coinflip or length of the national anthem could be parlayed with SF money line, but no correlation.
Also it said that the “ McCaffrey scores the first touchdown” was -400, so sharps took the opposite side. On that genre of bet, like MVP or ‘ who scored first‘, South Point & Vegas books don’t offer “opposite side” bets.
railbird
EOG Master
draftkings will add some booster odds to attract new bettors
Draftkings and Fanduel have profit boosts on 3 leg SGP’s all the time. It’s actually the most popular boost on both sites.
Heim
EOG Master
“The computer doesn’t tell us what to do,” Magliulo explained. “We tell it what to do.”
Raise your hand if you believe that...
Aside from football, their handle isn't big enough on other sports to move accordingly. They need a higher power to minimize risk.
They recognize Fezzik's beards but not this!?
Sure they get Krack and Fezzik (parlays) in and a few big bettors. Vaccaro has said, 99 percent of their bets is under a dime in the past.
Raise your hand if you believe that...
Aside from football, their handle isn't big enough on other sports to move accordingly. They need a higher power to minimize risk.
They recognize Fezzik's beards but not this!?
Sure they get Krack and Fezzik (parlays) in and a few big bettors. Vaccaro has said, 99 percent of their bets is under a dime in the past.
Viejo Dinosaur
EOG Master
Thanks Heim for the very interesting articles…I know all those gentlemen from South Point and I respect their ideas and opinions….
Heim
EOG Master
True. I don't remember who said it on Fezzik's, but when they go in they cover their eyes from the board and pick up some parlay cards.
FISHHEAD
EOG Master
They show little respect to the VEGAS KNIGHTS, it's quite sad.
Murphy’s Best
EOG Dedicated
Have they resolved their differences??
Heim
EOG Master
It's a old story, I think Chris is allowing Fezzik to play parlay cards within reason. You'll notice the issue was parlay cards.
They'll have a limo pick him up if he wants to play sides.
Murphy’s Best
EOG Dedicated
I figured they had made up & found a happy medium.
fifty cint
EOG Dedicated
Thanks for posting this.Appreciate it....Jimmy V is a cool dude
Sportsrmylife
EOG Master
Fezzik messed up
Won't take responsibility for this angle shot at South point
Someone isn't telling the entire truth
Won't take responsibility for this angle shot at South point
Someone isn't telling the entire truth
FISHHEAD
EOG Master
There wasn't any...........
Murphy’s Best
EOG Dedicated
What is nonsense?
FISHHEAD
EOG Master
LOLOL
Sportsrmylife
EOG Master
Steve must love the bjs from Patrick everytime he comes on this show
Patrick praises Steve as if he cured cancer
Patrick praises Steve as if he cured cancer
Sportsrmylife
EOG Master
He did have a good mlb breakdown
Steve should specialize on a cbb conference so that Saturdays aren't so overwhelming for him
Steve should specialize on a cbb conference so that Saturdays aren't so overwhelming for him
Sportsrmylife
EOG Master
It was a good bit by Steve
As much as I knock him he has moments of good info
Damn it lol
As much as I knock him he has moments of good info
Damn it lol
Heim
EOG Master
They like to puff how they commiserate to make a line or prop. The number comes out and it mirrors offshore. The one prop with McCaffrey above they sent out was pounded immediately.
They have experienced bookmakers, unfortunately booking now is on auto pilot.
Neveragain
EOG Dedicated
Patrick loves having Fez on the show.
He can fill a 2 hour show with Fez just by stroking his ego a bit then giving him the stage.
Steve is like the energizer bunny.
Sportsrmylife
EOG Master
Patrick loves to talk. He is the guy who played but was a glorified manager getting towels and the balls for practice.
He's a complete douche and his side kick dusty just soaks up the douchery.
I just get annoyed with talk shows with zero push back for their plays.
It is a reason I like listening to teddy covers on the wagertalk show when he counters capper with their plays.