CATEGORIES

New Jersey welcomes sports betting

stacks of 100 bills

Get ready for sports betting at New Jersey casinos and race tracks. Governor Christie just signed the new bill into law, and it will be interesting to see if sports leagues like the NFL or the feds try to stop this.

The casinos in Atlantic City have been decimated as more states permit casino gambling, so now they may have sportsbooks to differentiate them again. Hell, I’m even tempted to go there now!

Let’s hope this sticks.

How many shoes does a man need?

Joe Haden tweets out a pic of his shoe closet. Imelda Marcos would be jealous.

Republican prudes take on online gambling

When billionaire casino magnate Sheldon Adelson dangles money, Republicans tend to jump. Adelson is trying to protect his massive casino empire by opposing online gambling, trying his best to make it illegal.

Now politicians like Rick Perry, Nikki Haley and Bobby Jindal are jumping at the chance to impress Mr. Moneybags by coming out strongly against online gambling.

If you believe that the government should stay out of entertainment decisions made by citizens, can you support these clowns?

Setting the Super Bowl lines

So who do you have today? The Broncos or the Seahawks? It’s the biggest sports betting day of the year, and there will be tons of high rollers in Las Vegas, New York and around the country laying money on the game or one of the many prop bets.

Here’s an interesting article on how the lines get set. High rollers of course already know how this works, but the article is pretty good at explaining it and also telling some good stories, like this one:

The handicapper predicts what team will win; the bookmaker doesn’t care who wins. So when Super Bowl XXIII rolled around and the San Francisco 49ers were a 7-point favorite against the Cincinnati Bengals, Gaughan — the man who revolutionized sports bookmaking in Vegas — decided to split the action.

You could have the 49ers at minus-6.5 or the Bengals plus-7.5 at Gaughan’s Barbary Coast property. He’d make the game attractive to both sides, drive as much money on the game as possible, and would likely win on either side. The only way he’d lose — and potentially lose big — was if the 49ers won by 7 and he had to pay both sides.

Going into the fourth quarter, the Bengals led the 49ers 13-6, with the game sitting on that disastrous 7-point margin. Two San Francisco touchdowns would have cost him $18 million.

It wasn’t until three minutes remained in the game, when the Bengals kicked a field goal to go up 16-13, that the game moved off a potential 7-point margin.

“I was in bed with the covers over my head,” Gaughan said. “I’d still be paying it off today.”

Check it out.

Sean “Diddy” Combs loses $1,000,000 in dice game?

That’s the report we’re hearing based in part on Diddy’s Instagram video you can see below. Apparently he lost some bets with fellow rapper Rick Ross.