Bob Scucci recently gave a very interesting lecture at UNLV. Bob is the Race and Sportsbook Manager for Stardust. He was born
in New Jersey and move to Vegas while attending high school, because both his mother and father got job offers from Las Vegas sportsbooks. Well, this is really the case to say that Bob grow up with sports betting in its vein! He assisted for six years the former manager Joe Lupo, before getting promoted to run the show.
The Stardust was the first casino on the Strip to provide sports betting to its patrons. "Lefty" Rosenthal - yes the man portrait in Casino with Robert de Niro, Sharon Stone and Joe Pesci - worked at the Stardust. On NFL games, betting limits are $10,000 for sides and $2,000 for totals, while college football limits are $5,000 for sides and $1,000 for totals. Considering this is the first casino to post lines, at 5:30 p.m. on Sundays, the world of betting - made by bettors, oddsmakers, bookmakers - is literally looking forward to see what the Stardust lines will be.
Bob explained what we all want to know: how are the lines made? Well, lines are made with the help of the only licensed oddsmaker, Las Vegas Sports Consultants. Bob and his team aim to forecast how the public will bet, to achieve profit for the sportsbook. Some bettors think sportsbooks try to predict the outcome of events, which is a just a myth. Sportsbooks are not concerned with the match outcome, because they want to get a profit regardless of who wins and who loses. So, when we talk about lines, it's all about getting the value of the teams in the eyes of the bettors. Another myth is that sportsbooks want to achieve perfect balance on both sides, for every single match. That would be great, but according to Bob is not a realistic goal. They just want to profit in the medium term, that is, the sport season.
Bob supports legalization and regulation of online betting, to satisfy bettors demand. He says that, currently, online offshore sportsbooks are attracting professional handicappers, who want to bet anytime and anywhere they consider it profitable. So, in terms of net win, Stardust didn't lose much due to offshore operators. In fact, sportsbooks aren't a big profit-center in casinos. A 3%-5% annual profit is considered a good result, and if you consider the risk casinos takes while accepting sports bets, it is not a huge return-on-investement. But sportsbooks attract players who then spend the evening playing at casino games, so it's an excellent marketing tool.
He sees betting patterns all season long. Certain players bet underdogs, while others strictly try to "middle" games (lay -2.5 points on one side of a game and then take +3.5 points on the other team). Also, professional bettors never stray from their systems and strategies. They are very disciplined. When they have a bad run of luck, they never double their wagers to chase their money, and they never change their approach to handicapping. They weather the storm to overcome the house edge.
When asked how the Stardust became the top sportsbook in USA, he replies saying they pay the highest odds on parlays and parlay cards. Also, they have one of the largest sportsbooks in town with several TVs to watch the games. But with all the competition recently coming from other properties, there is little left to differentiate them from other books, except the fact that Stardust comes out first with the lines.
The Stardust accepts bets right after the lines are posted, on Sunday evening. So, several bettors go there to be witness how the lines move and to see the general reaction of bettors to the lines. For years, a group of aficionados started queueing very early to be the first to bet. Now, Bob and his team run a free lottery to determine who will bet first. YOu may think this another marketing tool. But that's more of a safety tool... Some years ago, a guy was queueing and left a few minutes to go to the toilette. He then came back and claimed his place in the line. Another guy kindly invited him, showing a gun, to go at the end of line. So, the next Sunday the Stardust lottery was born to avoid any possible... discussion.
Sportsbooks comp players' bets in a different way from the rest of the casino. As told above, the house profit on sports bets is vert tiny, so players cannot receive the same treatment they get while playing keno with a double-digit house advantage. To increase your chances to win, remember to check the "Sports Handicappers Library," located next to the Stardust book in a quiet area, with three walls of statistical information about current sporting events.
Of course, now you can get the opening and current lines without leaving your seat. Just check http://www.stardustlv.com, which also provides extensive coverage of betting rules and the Stardust show on KDWN AM 720.
If you want to know more about Bob Scucci, just make a query on Google. Covers.com, DocsSports.com, OSGA and every other sport betting publication worth its name talked about Bob, so you can get even more insider information about your favourite hobby (or your work if betting is your profession :-).
