High Times
EOG Master
Re: Why Cantor Gaming will either fail or revamp its bookmaking philosophy
No
No
High times -- No. Not at all. I just wanted to know who the pros were. This is the basis for my bookmaking philosophy. Booking to faces where they bet the limits, or something short of that.
The question is how to deal with three bets from pros, or two, at the same number at the same time.
There was a consensus among the pros that it would be first come, first served. It didn't work out if you were second.
I don't believe our positions are even remotely the same. You are trying to take our money and we are trying to use you to get to a better number.
We can't accomplish our goal if we let you manipulate our number. Would we be more profitable if we did not have any professional bettors. Yes.
But then we would have to repeat the process of identifying the good players or line originators or whatever you want.
I know there were many, many legitimate professional bettors who were also above board. We would have guys make a limit bet and then tell us about an injury. I never got upset with that wager.
However, for every stand up bettor, there were many more who would get to our casino high rollers in an attempt to get higher limits.
There were bettors who asked if they could get exclusive access to the openers, or cut in line whenever they needed to make a wager.
Now why would we do that if we were not on the take. We wouldn't.
I think High Times that your job was tough. I think my job was to make it tougher. And that is where we will forever disagree.
I do ask you to put your bookmakers hat on. If your limits were 5k a game, you would not allow three guys to hit you at once on the same number. Why should the nevada books be any different.
Christ HT you are retarded as FUCK.
What don't you understand about bookmaking being a market driven product?
By your logic, if Berkshire sells 10k shares of a stock tomorrow morning, then i want to unload the same amount for the same price AFTER they do, it's unprofessional for the NYSE to refuse my request (even though the price has fallen 10%).
High Times you are simply overstating what transpired. If the manager at the golden nugget called it in and got it approved it was simply a done deal.
You stated that the manager called it in, gave you the ticket and then demanded it back. That was simply not the process. Of course you are really going back in time because the bets were transparent for us in about 1999 or so. (give or take a year or so).
The process was simply who ever got the bet first, kept the bet at that number. We were not 12 different books, but really an extension of one book.
And wantitall4moi we would not let someone key wheel three games with the board. That was well beyond our risk extension back then. Even if the numbers were legit.
In my career, however, I have seldom seen people come in with stacks of parlay cards where they were not taking the best of it.
I'm not saying it never happened. But it was rare.
I'm guessing that one of the world's largest bond traders probably knows a little more about risk management than Robert Walker does. Just a hunch.
That being said, is anyone else surprised by the sudden and vast expansion of these new Cantor sportsbooks, considering the amount of money they're pouring into them up-front? I can understand why the casinos would let them do it (zero risk, fewer employees and associated benefits to pay for, etc.), but is Cantor over-estimating how lucrative the sportsbook business is? I mean, the casinos can't seem to get rid of them fast enough, or so it would seem. Not that the majority of them are necessarily being run in the proper way, but still...
Whatever the eventual result, it'll be interesting to see it play out over the next decade or so.
High times that is not what I said.
You inferred that the Golden Nugget called in the bet, got it approved, gave you the ticket and we asked for it back minutes later.
I said that is not how we did it.
I never said that the manger did not have to call it in, but once he did and if that was the first bet you would've got your ticket and nobody would've came after you.
You know what the procedure was High Times, you know. And it was a fair system for all of the pro players.
I guess I am having a problem understanding why you are having a problem understanding that whoever got the bet first -- got the bet.
We were not stealing from anyone.
What about the ticket writer from the Stardust who walked away with a ton of cash, never to be seen again?
Whatever happened to him?
That happened when Scotty was around.
Nobody ever heard from him again did they?
in nevada, sure. if they are paying that much just to corner the vegas market, they are retarded. but their endgame is being a major factor in national sports betting. getting your feet wet with the software, etc in the vegas market before the internet, mobile, and national betting markets take off is what they are paying for right now. nevada is miniscule on that radarbenefits to pay for, etc.), but is Cantor over-estimating how lucrative the sportsbook business is?
in nevada, sure. if they are paying that much just to corner the vegas market, they are retarded. but their endgame is being a major factor in national sports betting. getting your feet wet with the software, etc in the vegas market before the internet, mobile, and national betting markets take off is what they are paying for right now. nevada is miniscule on that radar
Tennis I don't remember either. It is possible we did not book quarterfinal action based on the number. But one of our biggest losses ever was in tennis, from a Australian high roller. Probably the semis though.
Railbird you were definitely not a bettor that we would cater to. But you are asking me questions that I don't recall, but obviously they were a concern for you.