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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.

Low rollers rule Las Vegas

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The game is changing in Las Vegas. There are still plenty of incredible ways to enjoy the place if you’re a high rollers, but now the low rollers are arriving in droves. They love to party and hit the clubs, but they’re really not into gambling that much. Time has a story focusing on the new trend.

Vegas is packed again, but the casinos aren’t making the gaming revenues they saw in past years. We’ve discussed this many times, as the trends have been obvious.

One issue is that the casinos don’t cater to serious gamblers like before. The new corporate entities are so obsessed with maximizing every inch of the casino that they are flooding them with slots. Blackjack doesn’t get the attention we saw in the past, but this is one of the games that attracts people who like to gamble. The casinos have played with the rules way too much.

It’s harder for a group of guys who want to gamble as a group to find a table in the best casinos that will satisfy everyone in the group. Limits are too high, so while a casino might not want guys who play the $10 tables, their friends might be the ones who bet $100 per hand.

I think casinos need to think about catering to guys who love to gamble, and that will help create environments that attract more high rollers.

Today’s gamblers in Las Vegas

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Things have been changing for years in Las Vegas.With so many options on there for the gambling fan, Las Vegas is no longer the only viable option out there. This is true whether you’re a high roller or a casual one-armed bandit. For example, you can go to these sites if you’re a high roller, so now there are more options to meet your needs. Sure, high rollers love junkets to Las Vegas and all of the fringe benefits that go along with it. But many guys just love the rush of gambling and the thrill of winning, and now people can get that whether they go to Vegas or not.

Las Vegas is now selling the overall experience and entertainment just as much as they’re selling gambling. You can see that with new spots like the Cosmopolitan which is the latest hot spot where the beautiful people like to congregate. It can be fun as hell, but that also affects the gambling crowd. It seems like the casual gambler is much less educated these days, so the casino plays around with the table games offered. They haven’t messed with craps much, but games like blackjack are manipulated with the decks and the odds. Ignorant gamblers don’t know any better, so they’ll sit down at a one-deck game thinking they have an advantage, but not realizing that the altered blackjack payouts are screwing them.

This is less prevalent in the high roller areas, as those gamblers are usually much more educated. But the casinos have been messing with the formula on the casino floor for so long that they’re chasing away the guys who aren’t quite high rollers but will come to Vegas with a $1,000 bankroll. If you mess with them too much, you lose them to other outlets, like online options or the casinos around the country. It will be interesting to see how the gambling experience continues to evolve.