Sportsbook at Wynn Las Vegas, during Super Bowl XLII, February 2008
A sportsbook (sometimes abbreviated as book) or a race and sports book is a place where a gambler can wager on various sports competitions, including football, basketball, baseball, hockey, soccer, horse racing and boxing. The method of betting varies with the sport and the type of game. The more prominent the event, the more wagering options that are made available.
Winning bets are paid when the event finishes, or if not finished, when played long enough to becomes official; otherwise all bets are returned. This policy can cause some confusion since there can be a difference between what the sportsbook considers official and what the sports league consider official. Customers should carefully read the sportsbook rules before placing their bets.
The betting volume at sportsbooks varies throughout the year. Bettors have more interest in certain types of sports and increase the money wagered when those sports are in season. Likewise the interest in sports varies by country since the level of interest in the various sports is not constant the world over. Some major sporting events that don’t follow a specific schedule, like boxing, can create peaks of activity for the sportsbooks.
Word origin
A sportsbook is a portmanteau, French for “jacket holder,” meaning a suitcase with two storage spaces. Sportsbook combines two meanings into one word for a sports gambling operation, in this case SPORTS and BOOK which is short for bookmaking.
Odds
In the mid 1930s, Leo Hirschfield started a company in Minneapolis, Minnesota called Athletic Publications, Inc., that published and distributed odds to bookies across the country by telephone and telegraph. He had a team of handicappers analyzing the matchups who also studied newspapers across the country. The company was a major provider of odds and prices until it finally disbanded, under fear of prosecution from the Federal Wire Act of 1961.
Today most sportsbooks get their opening prices from other sportsbooks as well as private companies like Las Vegas Sports Consultants. They adjust prices based on the bets coming in, news, injury, and weather information, and the price movement by other sportsbooks.
Nevada sportsbooks
Today there are roughly 150 licensed sportsbooks in the United States, all located in Nevada casinos. Now that many casinos share the same parent company, they offer the exact same wagering choices and odds, which is a disadvantage to the astute gambler who in the past could do more shopping for better prices.
In the 1950s the first Nevada sportsbooks, called turf clubs, opened. They were independent from the casinos, and had an informal agreement with the hotels that they would stay out of the casino business as long as the hotels stayed out of the sportsbook business. The sportsbooks had to pay a 10% tax so they charged a high vigorish to gamblers, but they still brought in a lot of business.
In 1974 the tax was lowered to 2%, (and in 1983 lowered to 0.25%), and in 1975 Lefty Rosenthal, who ran the Stardust Casino, convinced legislators to allow them in the casinos, and soon nearly all of the casinos added them. The turf clubs were no longer able to compete and eventually all closed.
In Nevada casino sportsbooks you will find:
Betting Windows
Numerous big screen televisions
Places to sit and watch
Interactive betting stations
Odds boards, usually computerized
UK sportsbooks
Betting shops are common in the United Kingdom. Companies like Ladbrokes and William Hill have offered walk-in betting shops for decades.
Note: Individual casinos may pay some of these bets at different odds than those listed below. The payoff odds listed are the most common throughout North American casinos. Actual odds, of course, do not vary.
Proposition bets are generally located in the center of a craps table, and often pay off at high odds but with a significantly higher house advantage.
One roll bets that the shooter will make an 11, or “yo” (pays 15-1, actual odds 17-1); 3, or “ace-deuce” (15-1, actual 17-1); 2, or “snake eyes” (30-1, actual 35-1); and 12, “box cars” or “midnight” (30-1, actual 35-1). A “hi-lo” is a combination bet on 2 or 12, paying 15-1 (actual odds 17-1); the stickman places this bet on the line dividing the 2 and 12 bets.
Bets that a shooter will make a hardway number such as 4-4 (before throwing a 7 or an 8 the easy way such as 6-2 or 5-3). The hard 4 (2-2) and hard 10 (5-5) pay off at 7-1 odds (actual odds 8-1), and the hard 6 (3-3) and hard 8 (4-4) pay off at 9-1 odds (actual odds 10-1).
The Horn is a bet that involves betting on 1 unit each for 2, 3, 11 and 12 at the same time for the next roll. The bet is actually four separate bets, and pays off depending on which number is actually rolled, minus three units for the other three losing bets. Most players do a “Horn High” bet which involves betting an additional $1 on one of the 4 choices, with the most frequent being a $5 “horn high yo” bet (which means $2 on the 11, $1 each on 2, 3 & 12).
A hop bet is a bet on any combination of the dice on the next roll. For example, hard 8 on the hop pays 30-1 (actual odds 35-1) if two fours appear on the dice on the next roll only. “Easy” combinations may also be bet, such as a 3-5 or 4-6, paying off at 15-1 odds (actual odds 17-1). On most craps tables, hop bets do not have a designated space on the layout; instead, they are kept in front of the boxman, often with a “hop” marker placed on top of the chips.
Craps is a bet that the shooter will roll 2, 3 or 12 on the next roll. The true odds are 8-1 and the casino pays 7-1.
C & E is actually two bets. A player is betting one unit on craps and another unit on 11. One of the two bets will always lose, and the other will pay off as above.
Any Seven is a bet that the shooter will roll a seven on the next roll. The true odds are 5-1 and the casino pays 4-1. This bet is also nicknamed “Big Red,” since the “7″ on its betting space on the layout is usually large and red.
A whirl or world bet is a five-unit bet that is a combination of a horn and any-seven bet. The bet is effectively a push if a 7 rolls, since the 4-1 payoff on the any-seven bet is offset by the other four losing bets.
The field bet is a wager that one of the numbers 2, 3, 4, 9, 10, 11, or 12 will appear on the next roll of the dice. This bet pays 2-1 on the 2 or 12 and even money on the others; many casinos will instead pay 3-1 on the 2 or 12. The house advantage is slightly more than 5%, reduced to 2.7% when the 2 or 12 pays 3-1. This bet is located in a box between the don’t pass line and the come box. Unlike the other proposition bets which are handled by the dealers or stickman, the field bet is placed directly by the player.
The Big 6 and Big 8 wagers are considered by craps players as sucker bets because they pay even money while a player can bet on the same proposition (a 6 will be rolled before a 7) by placing the 6 or the 8, which pays 7-6 (true odds are 6-5). Veteran craps players avoid these bets, and some casinos (particularly those in Atlantic City) do not even offer them. These are located in the corners behind the pass line, and bets are placed directly by players.
Most of these bets are very costly and disadvantageous to the player, because the house percentage on these bets can be 11.1% and up. Knowledgeable craps players often restrict their action to either the pass line or don’t pass line with full odds. More aggressive players can also bet on the Come/Don’t Come with full odds which is statistically identical to the pass/don’t pass bet.
A pick 6 is a type of wager offered by horse racing tracks. It requires bettors to select the winners of six consecutive races. Because of the great difficulty in picking six straight winners, plus the number of betting interests involved, payoffs for successful wagers are quite high, sometimes in the millions of dollars.The pick 6 has its roots in the daily double, the first so-called “exotic” wager offred by horse tracks. To win the daily double, a bettor must pick the winner of two consecutive races, traditionally the first two and the last two races of the program. The pick 6 merely extends this principle. The wager is offered once per program, and is usually offered on six races which conclude with the featured race of the day.
The wager is conducted in parimutuel fashion, with all pick 6 bets going into a separate pool from other kinds of betting. There is one “betting interest” for each available combination, and the number of combinations is equal to the product of the number of runners in all six races. A simplified example: If there are ten horses in each of the six races, then the number of combinations is 10 × 10 × 10 × 10 × 10 × 10, or 1,000,000.
The pick 6 wager actually has two payoffs, one for bettors who pick all six winners, and a smaller payoff for those who pick five out of six. The total pick 6 betting pool is divided by precentage between the two payouts, along the lines of 75% for the six-winner pool and 25% for the five-winner pool.
Because of the sheer difficulty off successfully choosing six straight winners, plus the large number of betting interests, it is common for there to be no winning wager on all six races. When that happens, the six-winner portion of the pool carries over to the following program, and continues to carry over until it is won. This allows the “carryover pool” to grow to large sums, and tracks usually publicize the fact that their carryover pool has grown to six or seven figures. The five-winner pool is paid out each day, however; if no bettors have chosen five out of six winners, then those who have chosen four winners are paid, or even just three winners (which has happened when a series of longshots have won races). The pick 6 pool is also paid out in its entirety on the last day of a race meet; if there are no six-winner tickets, then the pool is split among five-winner tickets.
Because of the huge number of betting interests involved, bettors will often try to increase their chances of winning by selecting multiple combinations. This can be costly — a bettor who wants to cover two horses in each race muct bet on 2 × 2 × 2 × 2 × 2 × 2 combinations, or 64 combinations, times $2 for each for a total of $128. This method is called “boxing horses,” and is also used with other wagers such as a trifecta or superfecta.
Late scratches
Because all pick 6 wagers must be made before the first of the six races, there are many times when a horse is scratched from a race well after the wager is placed. How this is handled varies according to the rules of the racing jurisdiction. In most cases, the track substitutes the horse that is the post time betting favorite (in the “win” betting pools); if the bettor’s original horse is a late scratch and the post time favorite wins, then the betor is considered to have picked the winner for that race. In other cases, the track may declare combinations involving the scratched horse to have “no action,” and the wager is refunded.
Races moved from turf to dirt
At North American tracks, races which are run on a turf (grass) course must sometimes be moved to the main dirt course, usually due to heavy rain or other adverse weather conditions; sometimes this switch is made after pick 6 wagering is closed. Moving from turf to dirt greatly affects the wagering decisions of astute handicappers, as many horses perform differently according to the racing surface. For pick 6 wagering, different tracks handle this situation in different ways. In New York, a race moved from turf to dirt after pick 6 wagering closes is declared an “all win” race, where picks on any horse in that race are declared successful. If only one race is moved, bettors who successfully pick the other five race winers will win or share the ful six-winner pool, including carryovers. If two races are moved, bettors who pick the other four winners will win or share in that day’s six-winner pool, but no carryover, and the previous carryover pool only goes to the next program. (Few North American tracks schedule more than two turf races in a program.)
A parlay is a single bet that links together two or more individual wagers and is dependent on all of those wagers winning together. The benefit of the parlay is that there are much higher payoffs than placing each individual bet separately since the difficulty of hitting it is much higher. If any of the bets in the parlay loses, the entire parlay loses.For example: Joe placed a three-team NFL parlay on the Lions, Bears and Bengals. If any one of those teams fail to cover the spread, Joe loses his parlay bet. But if all three teams beat the spread, Joe gets paid $600 for every $100 bet.
The Nassau bet is a type of bet in golf that is essentially three separate bets. Money is wagered on the best score in the front 9, back 9, and total 18 holes. The Nassau is one of golf’s most classic and most popular wagers.The amount of the bet is established — often $2 or $5 — for each nine with a third bet for the overall 18-hole match. Points are calculated by scoring each hole as a separate match. The player with the lowest score on a hole wins a point. If the scores tie for a hole, this results in a “push,” or no points won or lost.
Nassau Presses
This is a side bet offered during a Nassau match by the side that is losing in an effort to even their money for either the front or back nine. If the player who presses then beats his opponent over the remaining holes on that nine, he wins the press bet. In effect it is a double or nothing proposition. When a side is two or more points down in the match, they may request a press. The opposition has the option to accept or reject the press, although it is usually accepted.
The press bet runs for the remaining holes to be played on either the front or back nine holes only. Press bets can be re-pressed if the player falls two more points behind. The amount of the press bet is the same as the original match bet. For example, in a $2 Nassau, presses are for $2.
As with any golf game, players of greatly different abilities can compete. Handicaps are used to determine how many strokes one player must give another.
Cho-Han Bakuchi (or Cho Ka Han Ka, or simply Cho-Han) is a traditional Japanese gambling game using dice.The game uses two standard six-sided dice, which are shaken in a bamboo cup or bowl by a dealer. The cup is then overturned onto the floor. Players then place their wagers on whether the sum total of numbers showing on the two dice will be “Cho” (even) or “Han” (odd). The dealer then removes the cup, displaying the dice. The winners collect their money.
Depending on the situation, the dealer will sometimes act as the house, collecting all losing bets. But more often, the players will bet against each other (this requires an equal number of players betting on odd and even) and the house will collect a set percentage off winning bets.
The game was a mainstay of the bakuto, itinerant gamblers in old Japan, and is still played by the modern yakuza. In a traditional Cho-Han setting, players sit on a tatami floor. The dealer sits in the formal seiza position and is often shirtless (to prevent accusations of cheating), exposing his elaborate tattoos.
Many Japanese films, especially chambara and yakuza movies, have Cho-Han scenes. The character Zatoichi is a noted fan of the game.
A daily double is a type of wager offered by horse and dog racing tracks. It requires bettors to select the winners of two consecutive races. Because of the increased difficulty of picking two straight winners, wining daily double bets often pay off at relatively high odds.The daily double was the first so-called “exotic” wager to be offered by American racetracks. The wager was typically offered only for the first two races of each day’s program, as an enticement for spectators to arrive early for the entire program (and hopefully wager more). As with all other American racing wagers, the “double” is conducted in parimutuel fashion, with the number of betting interests in the daily double pool equal to the product of the number of runners in both races — in other words, if there are ten entries in the first race and eight in the second, there will be 80 separate betting interests, one for each combination. By sheer mathematics, this results in the higher payoffs than those found in straight betting for win, place or show.
For many years, the daily double was the only exotic wager offered. Later on, the exacta was also offered on select races during each program. The wagers were offered only a few times each day largely because of the limitations of electro-mechanical totalisator systems. When computer technology took over, many more exotic wagers were introduced, such as the trifecta, superfecta and pick 6. The higher payouts for these wagers tended to diminish interest in the “old fashioned” daily double, but it is still offered at all tracks, sometimes more than once during a program. (A “late double” is frequently offered on the last two races on a program.)
The “Pick 3″ and “Pick 4″ wagers are derived from the daily double; they require bettors to pick the winners of three or four consecutive races. These are often offered on a “rolling” basis — a rolling pick 3 on races one through three, another on races two through four, and so on throughout the day.
Occasional doubles are offered on important races contested on separate days. The most prominent example of the “Oaks-Derby Double” offered by Churchill Downs, where bettors pick the winners of the Kentucky Oaks and Kentucky Derby. The Oaks is run the day before the Derby.
Jueteng (pronounced wet-teng) is an illegal numbers game played in the Philippines. Jueteng came from China and it means flower (jue) and bet (teng). Although illegal, it is a widely popular game with participation that crosses most, if not all social and economic boundaries, played by rich and poor alike. With long odds and no limits on minimum or maximum bets, the lure of quick riches through a lucrative payout is by far its strongest appeal.The game relies heavily on having a large number of wagers, and there is no limit to the amount of the bet(s). Usually the gambler selects two numbers from 1 through 37, and the winning number is determined by selecting a pair of numbers from a set of 37 numbered balls. Thus the theoretical odds of winning on any one play are one in 37C2, or 1/666. This is unlike the numbers games in the U.S. during the early part of the 20th century, where the last digit of the winning pay out or the number of the winning horse for three consecutive races determined the winning combination.
Although much has been done to curtail or eradicate this form of unregulated gambling by government and community leaders, it appears that such efforts have fallen by the wayside due to its vast popularity, and the poverty which cripples the country.
Scandals
Jueteng was brought to notoriety in 2000 during the impeachment proceedings of deposed Philippine President Joseph Estrada, who was accused of receiving illegal payoffs from gambling profits. Another political scandal erupted in June 2005 involving allegations that relatives of Gloria Macapagal-Arroyo received payouts from jueteng operators.
Bau cua ca cop is a Vietnamese gambling game using three dice. The six sides of the dice, instead of showing numbers one through six, have pictures of a fish, prawn, crab, rooster, calabash gourd and stag. Players place wagers on a board, betting on which pictures will appear. (The game is similar to the English dice game Crown and anchor).
Bau cua ca cop is often played at Tet (Vietnamese New Year).
A bar bet is a bet made between two patrons at a bar. Bar bets can range from wagers about little-known trivia, such as obscure historical facts, to feats of skill and strength. Some bar bets are intended to trick the other party into losing.
Famous bar bets
The annual Midnight Sun baseball game played in Fairbanks, Alaska (the only game to be contested after midnight without the use of artificial lighting) was established in 1906 as the result of a bar bet. 2
Two of Tony Hawks’ books, Round Ireland With A Fridge (ISBN 0-091-86777-0) and Playing The Moldovans At Tennis (ISBN 0-091-87456-4), were written describing Hawks’ attempts to win two bar bets.
The film To Have and Have Not is supposedly the result of bar bet between Ernest Hemingway and Howard Hawks, with Hemingway betting Hawks that Hawks couldn’t make a good film from Hemingway’s worst novel.
It is widely believed that the creation of Scientology was the result of a bar bet between L. Ron Hubbard and Robert A. Heinlein. According to Scientology critic Lindsay this is “definitely not true”, no such bet was ever made, it would have been “uncharacteristic of Heinlein” to make such a bet, and “there’s no supporting evidence”.
Three Bar Bets Involving Fire. Daily Lush Magazine. Retrieved on 2005-12-19. — The Daily Lush describes a bar bet as being the “last remnant of a great American con artist tradition” and gives examples of bar bets.
Rub Cruit (October 1985). 175 Ways to Win a Free Drink: The Complete Book of Bar Bets. Dodd Mead. ISBN 0396085865.
Henny Youngman (1974). Bar bets, bar jokes, bar tricks. Citadel Press. ISBN 0806504048.
Alan Ericksen (1981). Bar games, bets and challenges. Warner Books. ISBN 0446906484.
Links
Gerry Riskin. Want to win a bar bet?. Amazing firms, amazing practices. Retrieved on 2005-12-19, 2005-10-14. — An example of a trick bar bet. Riskin describes a bar bet where the correct answer to the question about a photograph of a man tied to a chair is not the obvious one.
Even and Odd Permutations. Introduction to Group Theory. Retrieved on 2005-12-19. — Another trick bar bet. The trick lies in the even and odd parity of the initial and final conditions.
Poker Room at the Trump Taj Mahal, Atlantic City, New Jersey
Poker is a card game, the most popular of a class of games called vying games, in which players with fully or partially concealed cards make wagers into a central pot, which is awarded to the player or players with the best combination of cards or to the player who makes an uncalled bet. Poker can also refer to video poker, a single-player game seen in casinos much like a slot machine, or to other games that use poker hand rankings.
Game play
Poker is played in hundreds of variations, but most follow the same basic pattern of play.
The right to deal each hand typically rotates among the players and is marked by a token called a button or buck. In a casino a house dealer handles the cards for each hand, but a button (typically a white plastic disk) is rotated among the players to indicate a nominal dealer to determine the order of betting.
For each hand, one or more players are required to make forced bets to create an initial stake for which the players will contest. The dealer shuffles the cards, he or another player cuts, and the appropriate number of cards are dealt to the players one at a time. After the initial deal, the first of what may be several betting rounds begins. Between rounds, the players’ hands develop in some way, often by being dealt additional cards or replacing cards previously dealt. At the end of each round, all bets are gathered into the central pot.
At any time during a betting round, if a player makes a bet, opponents are required to match it or to surrender their cards and forfeit their interest in the pot. If one player bets and no opponents choose to match the bet, the deal ends immediately, the bettor is awarded the pot, no cards are required to be shown, and the next deal begins. The ability to win a pot without showing a hand makes bluffing possible. Bluffing is a primary feature of poker, one that distinguishes it from other vying games and from other games that make use of poker hand rankings.
At the end of the last betting round, if more than one player remains, there is a showdown, in which the players reveal their previously hidden cards and evaluate their hands. The player with the best hand according to the poker variant being played wins the pot.
Most popular poker variants can be loosely classified as draw poker, stud poker, or community card poker; miscellaneous poker games exist. The most commonly played games in these categories are five-card draw, seven-card stud, and Texas hold ‘em, respectively.
in ring game (cash game or live-action game) and tournament formats.
For the poker table seating, most casinos apply the rule first-come, first-served. Some poker rooms allow the use of the phone to ask to be placed on a list. If there is a break at a poker table, the players can inform the manager and their places will be held until they will be back.
The usual currency for the games are the chips, that can be purchased from the casino dealer, from cashiers, or from chip runners. Some will allow players to buy chips from each other at the table, and some allow to play with cash.
Usually there is a fee charge for conducting the game. The rake is the scaled commission fees taken by a casino operating a poker game. This fee structure is common in low-stakes cash games. For ring games, it is generally 5-10% of each poker hand, up to a predetermined maximum amount. This fee is sometimes referred to as the “drop” since the dealer will drop the rake into a container at the table.
In mid or high stakes games, there is sometimes used an hourly charge for renting a seat. It might be sometimes combined with a rake.
The usual fee for tournaments is 10% of the buy-in.
Some common rules in U.S. public cardrooms wrote by Bob Ciaffone in his book Robert’s Rules of Poker:
Players must protect their hands, either by holding their cards or placing a chip or other object on top of their cards. An unprotected hand may be mucked by the dealer in turn.
Players must act in turn. Players should not telegraph or otherwise indicate intentions to act prior to their turn to act.
In the event of an action out-of-turn, the action may be binding if there is no bet, call or raise between the out-of-turn action and the player’s proper turn.
Verbal declarations are binding and take precedence over non-verbal actions.
Betting actions without a verbal declaration must be made in a single motion or gesture (“no string bet” rule).
Knocking or tapping the table is a check. Tossing or pushing cards away is a fold.
In the absence of a verbal declaration of “Raise,” if a player puts in chips equal to 50 percent or more of the minimum raise, he will be required to make a full minimum raise. Otherwise, the action is deemed a call and the excess chips should be returned to the player.
In limit games, an oversized chip will be constituted to be a call if the player does not announce a raise. In no-limit, an oversized chip before the flop is a call; after the flop, an oversized chip by the initial bettor put in the pot will constitute the size of the bet. In pot-limit and no-limit, if a player states raise and throws in an oversized chip, the raise will be the maximum amount allowable up to the size of that chip.
Bets should be placed in front of the player’s cards. Chips should not be thrown (splashed) into the pot.
Wagers must be at least the size of the previous bet or raise in that round, unless a player is going all-in.
“Show one, show all” – Hole cards, including folded hands, should not be revealed to other players until showdown. If a player reveals his hole cards to another player active in the current hand, all players have the right to also see the hole cards. Also, if an uncalled winning hand is shown to only one player, then any other player at the table has a right to see the winning hand. Note that, contrary to a common misinterpretation, “show one, show all” does not refer to the number of cards in the hole – an uncalled winning hand may expose a single hole card without revealing the other hole card.
Players may not verbally disclose the contents of their hand.
Players may not advise other players how to play a hand (“One player to a hand” rule).
Cards may not be removed or held below the table or otherwise concealed from view.
Players in hands cannot reveal their hole cards to convince other players to fold; if so, the player’s cards are considered a dead hand.
Players must keep their highest denomination chips visible at all times.
Except for small denominations used to tip for food or drinks, players may not remove a portion of their chips from the table (called going south or ratholing) unless they cash out and leave the game. Players must not sell or share chips with another player at the table.
Cards speak for themselves and prevail if a player misstates the value of his hand at the showdown.
Speaking in foreign languages at the table is prohibited.
Players should not discuss or otherwise influence the hand-in-progress after folding.
Cell-phone use at the table is prohibited.
Profanity is prohibited.
In U.S., some local laws may limit the type or nature of poker games offered in public cardrooms. For example,
North Dakota has a limitation of $25 per individual hand, game or event.
In Montana the maximum size of a won pot is $300.
In San Jose, California, no single bet may exceed $200.
San Jose cardrooms have “spread-limit” games to finesse this rule.
Florida requires that in limit games, all bets be no more than $5, while in no-limit games the maximum buyin is $100.
In Florida, poker tournaments are exempted from the betting structure rules and may use any betting structure the cardroom wishes. Tournament formats are used to circumvent gambling rules in other states as well. Unlike some other forms of gambling, tribal gaming may be subject to state laws governing poker.
Typically, online poker rooms generate the bulk of their revenue via four methods:
The rake. Rake is collected from most real money ring game pots. The rake is normally calculated as a percentage of the pot based on a sliding scale and capped at some maximum fee. Each online poker room determines its own rake structure.
Pre-scheduled multi-table and impromptu sit-and-go tournaments are not raked, but rather an entry fee around ten percent of the tournament entry fee is added to the cost of the tournament.
Some online poker sites also offer games like black jack or side bets on poker hands where the player plays against “the house” for real money. The odds are in the house’s favor in these games, thus producing a profit for the house.
Online poker sites invest the money that players deposit. Since the sites do not have to pay interest on players’ bankrolls, this method can be a significant source of revenue.
Many online poker sites offer incentives to players in the form of bonuses. Usually the bonuses are given after a certain number of raked hands are played.
In addition, several online cardrooms employ VIP Managers to develop VIP programs to reward regular players and additional bonuses exist for players who wish to top-up their accounts. These are known as reload bonuses.
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Balderton Capital (formerly Benchmark Capital Europe) is financing the UK-based gambling company betNOW. This way gamblers can place bets via text message, with the actual wagers charged to phone bills. Winnings can be picked up at local post offices. Balderton Capital invested also in Betfair. I know myself another big UK company with activity in the domain of mobile communication that started to invest in gambling, too.
Balderton Capital is a different kind of venture firm – one that’s based on teamwork, superior service to entrepreneurs and an intense dedication to building companies of lasting value, the leading venture capital firm behind Bebo, Codemasters and Setanta.
Robert Urwin, co-founder and CEO of betNOW said: “betNOW is the fastest, simplest and most intuitive way to place a bet in the UK. We’re delighted to partner with Balderton Capital at this exciting early stage in our development.”
Tim Bunting, partner at Balderton Capital said, “betNOW is a thoroughly innovate service providing a whole new take on the remote sports book market. It’s great to be working with Robert and his team to help launch betNOW throughout the UK and develop a rollout of the business internationally.”
In December 2007, Hop-On Inc introduced “its newest phone for AT&T and Verizon Networks. The GSM/CDMA Dual Mode PDA 2001 model, complete with GPS capability, utilizes the latest technology in the most cost-effective manner. This new PDA phone will have the ability to become the world’s first handheld slot machine, bingo, video poker or black jack device.”“The 2001 PDA offers the latest in GPS technology for a fraction of the cost of similar phones,” says Hop-on’s President, Peter Michaels. “This particular phone has the ability to actually play interactive casino type games utilizing the touch screen features of the phone. This phone is a computer, which can handle casino type wagering.”
Mobile gambling specialist company Cometa Wireless has signed a partnership agreement with Cashcade, an important UK online interactive gaming provider.
“The mobile market is rapidly becoming a vital channel for online gambling providers,” says Simon Collins, the CEO of Cashcade. “Players no longer have to be at home, in front of their computer. The ubiquity of mobile and the convenience of the phone in the user’s pocket or purse makes it a unique way for players to interact, no matter where they are. With consumers working longer hours and commuting long distances, the attraction of having their favourite online services at their fingertips is hard to beat.”
London-listed mobile technology company Probability plc, successfully demonstrated a gambling service running on an Apple iPhone in December 2007, leading the mobile gambling field in the technology. The company has developed a fully working version of Blackjack, boasting that it is the first online casino game to have been built and demonstrated in real money play mode on an iPhone in the UK.
So, what we see as the common features of all these news? “UK companies”, including non-gambling companies, and “mobile gambling”. Two keywords that will make the future of the online gambling in the near future.
This trend will be helped a lot by the major sport event of this year, the 2008 UEFA European Football Championship, commonly referred to as Euro 2008, that will take place in Austria and Switzerland, from 7 to 29 June 2008.
Mobile gambling refers to gambling done on a remote wirelessly connected device, such as wireless tablet PC’s, mobile phones and other non traditional mid-level networked commuting devices.
Analysts place the value of the market space at US$20 billion by 2010.
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Sportsbook at Wynn Las Vegas, during Super Bowl XLII, February 2008
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