Not only did the LA RAMS beat the BROWNS they beat up the books in Vegas

[mjp28]

Not only did the LA RAMS beat the BROWNS they beat up the books in Vegas.....  

Believe me this doesn't happen too often. Much more in link.  http://www.vegasinsider.com/nfl/story.cfm/story/1982760

Books take a loss in Week 3 September 23, 2019 By Micah Roberts VegasInsider.com ShareFacebookTwitterDiggMySpace   The Rams 20-13 Sunday night win at Cleveland had a massive effect on how Nevada sportsbooks fared in Week 3 action and let’s just say Joe Public did extremely well to the game which was tied into several of their winning sides from earlier in the day. The books sweated out each of the first 13 games in the day only to have this one powder keg of risk in a game determine their entire day. The Rams opened -3 EVEN and moved up to -4.5 by kickoff in part because of bets but also because of large parlay risk ready to cash with the Rams covering. “We’re getting beat up,” said MGM Resorts sportsbook director Jeff Stoneback prior to kickoff of the late game. “And we can’t get out of it even if the Browns win. There’s no way out, we’re destined to lose and if the Rams win it’ll be a semi-ugly day. Not a Black Sunday type of loss, but still semi-ugly.” MGM books were not alone. Westgate Las Vegas Superbook VP Jay Kornegay said they had a few 10-team parlays cashing (550-to-1 ties win parlay cards) and that they went 1-2 in their biggest decisions before pending Browns decision, who they needed huge. “Our day is up to the Browns,” said William Hill’s head bookmaker Nick Bogdanovich. The books that had good results in the first 13 games also needed the Browns to stay in the black for the day. Caesars Palace sportsbook director Jeff Davis said they were having a “Monster day with the first 13 games, but it’s mostly gone if the Rams get there.” Station Casinos sportsbook director Jason McCormick said before kickoff “We’re OK right now, but Rams and over (48) make it a nothing day.” The combination of sharps doing well, the public hitting a few parlays with the Rams sealing the deal was huge, and then there were also the teasers showing how damaging they can be for the house. “Seven of the eight home favorites in the early games won on the teasers and our teaser loss on the day accounts for half of our overall loss on the day,” Stoneback said.

[Nero]

I didn't understand half of it. 

[mjp28]

1 hour ago, Nero said:

I didn't understand half of it. 

That's from Vegasinsiders.com one of my old favorite sports sites http://www.vegasinsider.com/

A lot of it is the more "professional" bettors playing parlays (multiple teams), teasers (adding or subtracting points from the line at reduced payouts) buying points, etc.

Most of us John Q. Public guys just straight bets or maybe simple parlays.

They have a betting tools link on the far right of their home page defining betting terms if you're interested. Some sites also have tutorials.

One thing the  Vegas Golden Rule    they just don't lose money guess who pays to keep all of the lights on.  

[hoorta]

1 hour ago, Nero said:

I didn't understand half of it. 

Yes, if you get lucky on a parlay, you can win big money on a small bet. Depending on how many teams you bet on (and win) the odds go up. You have to hit them all perfectly though. That article mentioned 550:1 on a parlay.  If you had bet $10,000 (a not unusual amount in Vegas) on that parlay, you would have come home with over $5 million dollars.  A big ouch for the house to pay up on.   

[Dutch Oven]

1 hour ago, hoorta said:

Yes, if you get lucky on a parlay, you can win big money on a small bet. Depending on how many teams you bet on (and win) the odds go up. You have to hit them all perfectly though. That article mentioned 550:1 on a parlay.  If you had bet $10,000 (a not unusual amount in Vegas) on that parlay, you would have come home with over $5 million dollars.  A big ouch for the house to pay up on.   

Watch the movie 'Silver Linings Playbook' Nero. 

First, Jennifer Lawrence is hot. Secondly, it explains a "parlay" very well. 😁

[The Gipper]

Do we care if casinos lose money?

[Tour2ma]

I parley vous parley...

... but WTF is a "teaser"?

[Dutch Oven]

20 minutes ago, The Gipper said:

Do we care if casinos lose money?

Are you playing board content manager again? 

[The Gipper]

12 minutes ago, Dutch Oven said:

Are you playing board content manager again? 

No, I am just saying that if the subject of this thread is that the casinos lost money  on bets on the NFL over the weekend, I am not going to throw a pity party for them.   The system is generally rigged in their favor, so, if they take a bath every once in a while....all the more good for the wagering public.  Like I said/asked:  who here cares if the casinos lose some money?

[hoorta]

8 minutes ago, The Gipper said:

No, I am just saying that if the subject of this thread is that the casinos lost money  on bets on the NFL over the weekend, I am not going to throw a pity party for them.   The system is generally rigged in their favor, so, if they take a bath every once in a while....all the more good for the wagering public.  Like I said/asked:  who here cares if the casinos lose some money?

Of course no one cares if they lose money, they're not in business to lose money. So they took a bath this weekend. I have to think with a lot of states legalizing gambling, the people willing to travel to Vegas to gamble has to have gone down.  

[mjp28]

3 hours ago, Tour2ma said:

I parley vous parley...

... but WTF is a "teaser"?

I'm glad you asked......

A teaser (or a "two-team teaser") is a type of gambling bet that allows the bettor to combine his bets on two different games.^[1] The bettor can adjust the point spreads for the two games, but realizes a lower return on the bets in the event of a win.

A teaser is a type of wager used in sports betting, most commonly in basketball and football. This wager is a multi-team wager, allowing the bettor to choose a minimum of two teams up to, in some cases, 15 teams. The bettor will get points on his favor to add or subtract to the teams chosen to improve the point spread chosen.

There are two types of teasers. The first kind, known as a "Super Teaser," "Special Teaser," "Big Teaser," or "Monster Teaser, " allows the bettor to choose three, four, or in some cases five teams, and gives a larger number of points to add or subtract to the spread of the selections chosen. In return, the bettor will receive less money than the one risked in the bet.

The second type of teaser, known as a "Vegas Teaser," or simply a "Teaser," is more of a combination between a parlay and the first teaser explained. In this case, the bettor will receive fewer points to adjust the spread of the selections chosen, but the more teams chosen in the wager (from two to 15 in some cases), the higher the payout will be.

Normally, if these bets are played together as a parlay, a bettor will win $260 on a $100 bet. However, with a teaser, the bettor will win $100 on a $110 bet, 10 to 11 odds. The reasoning is that one will get 6 points to adjust the spread (in either direction).

If one bets on Pittsburgh, a +2.5 underdog, they are now +8.5 underdogs (+2.5 + 6).

If one bets on Green Bay, a -2.5 favorite, they now become +3.5 underdogs (-2.5 + 6).

Bet on the over and the line is 39.5 (45.5 - 6).

Bet on the under and the line is 51.5 (45.5 + 6).

Many bettors like the teaser bet because it gives the bettor more cushion, but like a parlay, one must hit all aspects of the bet to win. There is still debate among experienced sports bettors if teasers are good wagers or not. Opinions vary on the subject, with some believing they are poor option, while others believe they are worthwhile, especially as more games tend to fall close to the point spread.^[1]

Many sportsbooks also offer teaser cards (similar to parlay cards). In most cases, teasers must involve 3 or more teams, and spreads and totals have half points to avoid ties. Cards are usually printed in the morning (Every Wednesday morning for football) and the lines on the cards are fixed, though the book reserves the right to take the games off the board.

[Nero]

6 hours ago, Tour2ma said:

I parley vous parley...

... but WTF is a "teaser"?

I was thinking about a film teaser or, given that we are talking about Vegas, a hooker. 

[Tour2ma]

Adjusting lines out of a pool of purchased points... interesting.

Once upon at work I started a "Pick'em" game with a twist. Each week's winner got to set the lines of the following week's games. Some used the Vegas lines, which was fine, others, like me, made our own lines based upon how well our poorly matched we felt the teams were. It produced some interesting lines to say the least...

 

One aside... I made a bet with a Manager once on the Bears-Pats SB... yes, those SB shufflin', '85 Bears. I think the Vegas line was in the low teens... I offered 15... After the handshake he smirked and said he's have taken 10 to which I counter-smirked and said I'd have given 20.

 

He did pay me.

[Tour2ma]

Meanwhile back at the thread...

I wonder how much the legalized sports betting in NJ is hurting Vegas.

When the number of bettors declines it's obvious that the profitability declines, but beyond that you now have the potential for regionalized bias. And in this case that would put LA's LAR money out of balance with east-of-the-Mississippi money.

[mjp28]

9 hours ago, Nero said:

I was thinking about a film teaser or, given that we are talking about Vegas, a hooker. 

Same thing.  

[mjp28]

1 hour ago, Tour2ma said:

Meanwhile back at the thread...

I wonder how much the legalized sports betting in NJ is hurting Vegas.

When the number of bettors declines it's obvious that the profitability declines, but beyond that you now have the potential for regionalized bias. And in this case that would put LA's LAR money out of balance with east-of-the-Mississippi money.

A few months ago NJ sports betting passed Nevada for the first time ever. Within 5 years somewhere between 30 and 40 states will have running sports betting...... just like buying a lottery ticket now.

Vegas is really taking a hit and will continue to do so.

From the AGA American Gaming Association:

 

[mjp28]

Yeah sports betting in Hawai'i the Aloha state and my favorite vacation spot.

Is this a great country or what!

[mjp28]

10 hours ago, Nero said:

I was thinking about a film teaser or, given that we are talking about Vegas, a hooker. 

Oh BTW brother Nero before you pack your bags and get your American Express traveler's cheques remember prostitution is legal in Nevada but not in Lost Wages or Reno the two big gambling hotspots.

(Oh it ain't cheap either, well at least the legal ones.  )

 

[The Gipper]

5 hours ago, mjp28 said:

A few months ago NJ sports betting passed Nevada for the first time ever. Within 5 years somewhere between 30 and 40 states will have running sports betting...... just like buying a lottery ticket now.

Vegas is really taking a hit and will continue to do so.

From the AGA American Gaming Association:

 

So...what is the status of Ohio?  Hard to tell from this graph.

[mjp28]

4 minutes ago, The Gipper said:

So...what is the status of Ohio?  Hard to tell from this graph.

I've heard of several stories on the little turf war going on about which department will oversee it but here's a slightly clearer map and every state's status.

https://www.sbnation.com/a/sports-betting-gambling-state-legislation-tracker

[The Gipper]

7 minutes ago, mjp28 said:

I've heard of several stories on the little turf war going on about which department will oversee it but here's a slightly clearer map and every state's status.

https://www.sbnation.com/a/sports-betting-gambling-state-legislation-tracker

Interesting that Florida has not taken any steps so far.  And yes, I hear that their is a turf war for control between the Lottery Commission and the Casino Commission. 

[mjp28]

21 hours ago, Tour2ma said:

I parley vous parley...

... but WTF is a "teaser"?

BTW on the LAR (-3) 20 CLE 13 game if you bet $100 on LAR + UN on a regular parlay you would have won about $260.

If you bet a teaser on either team + OV  lost.  CLE + UN lost only LAR +'UN paid off about $100.  In this case the teaser was not a good main or backup bet the points were too far off.

In close games they can be a good backup or even main bet.   ¿Entender?

Edited September 25, 2019 by mjp28

[Tour2ma]

13 hours ago, mjp28 said:

¿Entender?

No...

Used to go to the dog track in Dickenson, TX... loved it... and got to love it too much. More on this below...

One thing I was never good at was seeing "cover bets". Fortunately I had a friend and mentor who was.

Started going to the track with large groups from work. We'd pool money and every visit would include at least one "IRS" win. We always walked out winners.

Over time the size of the group dwindled until it was my friend and I. But he worked rotating shift, so couldn't go some weeks. I started going by myself. Most nights I did OK... win $100 here... lose $100 there... then the swings increased.

Finally one nite I was down ~$400 going into Race 12 and I wheeled an Exacta... 1 dog (the clear fav) over 3 that I saw as equal. The fav won easily and two of my 3 finshed in a dead heat for 2nd. I was thrilled to learn my bet paid both ways... I walked out even-ish... I never went back.

Jugador... conocete a ti mismo

[mjp28]

5 hours ago, Tour2ma said:

Used to go to the dog track in Dickenson, TX... loved it... and got to love it too much. More on this below...

One thing I was never good at was seeing "cover bets". Fortunately I had a friend and mentor who was.

Started going to the track with large groups from work. We'd pool money and every visit would include at least one "IRS" win. We always walked out winners.

Jugador... conocete a ti mismo .......I take ducolax suppositories for that.

I loved the quarter horses used to go to Waterford Park now Mountaineer in northern West by God Virginia near East Liverpool, Ohio. Went there frequently in college and afterwards for years, great date night trip.

I never could get into the dogs or sulky house races.

Once at Waterford Park unit a big trifecta and when in line at the big payout window an old geezer came up to me and offered to cash out my ticket to avoid the tax hit for a small fee. Being young and cautious I said no I was not letting go of the ticket.  TIP for all you gamblers out there save ALL of your losing lotto tickets, house race or any other tickets if you itemize your taxes you can write off winning gambling amounts on the W-9 from the IRS up to the amount of your PROVEN losses.

People who claim they are professional gamblers can write off some expenses slso......and many do making a living playing poker (I know one) or live in Vegas and gamble for a living. Gambling winnings ARE taxable whether legal or illegal that's how they catch the bad guys tax evasion.  (I did taxes for years on the side.)

[Dutch Oven]

12 hours ago, mjp28 said:

Gambling winnings ARE taxable whether legal or illegal that's how they catch the bad guys tax evasion.  (I did taxes for years on the side.)

Why would someone who gambles illegally ever admit that they made money off of it by claiming the winnings?

What I mean is, if I drove out to Youngstown and placed a bet on a Monday Night Football Game with "Bookie X" and won, there isn't a chance in hell I would ever claim that I did such a thing.  

[mjp28]

1 hour ago, Dutch Oven said:

Why would someone who gambles illegally ever admit that they made money off of it by claiming the winnings?

What I mean is, if I drove out to Youngstown and placed a bet on a Monday Night Football Game with "Bookie X" and won, there isn't a chance in hell I would ever claim that I did such a thing.  

That's just the thing some gambling is legal like the Ohio lottery, horse racing and those killer winner take all church BINGO games. (those grandma's are serious!)

But some gambling is strictly illegal -but- still taxable.

Al Capone was making an estimated $2 million a year (+/-) a lot during the Great Depression the FBI couldn't get to him but an accountant-type had an idea audit him and make him prove his income to support his lavish lifestyle (in Federal tax cases the burden of proof is on YOU).  He couldn't come close and they got him not on murder or racketeering but the dreaded TAX EVASION!

He died in prison allegedly of syphilis.

[mjp28]

42 minutes ago, Dutch Oven said:

 

What I mean is, if I drove out to Youngstown and placed a bet on a Monday Night Football Game with "Bookie X" and won, there isn't a chance in hell I would ever claim that I did such a thing.  

Better watch out Dutch but there are some good Youngstown bookies, go ahead. I won't tell.  

But it's good to know the right people.  (Oh BTW I was very good at taxes both doing taxes and in college.)

Small-time crooks: The IRS's informant program has been around for more than 140 years. If you suspect a person is committing tax fraud and report it, you could receive up to 15% of the amount that has been underpaid, with a maximum award of $10 million.

Informants are required to complete a claim and mail it to the IRS. The form is available on the IRS Web site, or you can call the agency's fraud hotline at 1-800-829-0433 for instructions. While you must reveal your identity to the IRS, your name will not be made public.

Because there is no minimum requirement for the amount in question, anyone can file a report in hopes of making an extra buck off of a cheating boyfriend or obnoxious neighbor.

OK here is an easy link or just go to the IRS.gov site.  https://money.cnn.com/2010/03/02/pf/taxes/rat_out_tax_cheat/

[mjp28]

And there's more......see the things you can learn on The BROWNS BOARD.

Whistleblower Office Home.      https://www.irs.gov/compliance/whistleblower-informant-award

The IRS Whistleblower Office pays money to people who blow the whistle on persons who fail to pay the tax that they owe. If the IRS uses information provided by the whistleblower, it can award the whistleblower up to 30 percent of the additional tax, penalty and other amounts it collects.

Who can get an award?

The IRS may pay awards to people who provide specific and credible information to the IRS if the information results in the collection of taxes, penalties, interest or other amounts from the noncompliant taxpayer.

The IRS is looking for solid information, not an “educated guess” or unsupported speculation. We are also looking for a significant Federal tax issue - this is not a program for resolving personal problems or disputes about a business relationship.

What are the rules for getting an award?

The law provides for two types of awards. If the taxes, penalties, interest and other amounts in dispute exceed $2 million, and a few other qualifications are met, the IRS will pay 15 percent to 30 percent of the amount collected. If the case deals with an individual, his or her annual gross income must be more than $200,000. If the whistleblower disagrees with the outcome of the claim, he or she can appeal to the Tax Court. These rules are found at Internal Revenue Code IRC Section 7623(b) - Whistleblower Rules.

[Dutch Oven]

Certain whistle blowers deserve a medal... 😁

[mjp28]

9 minutes ago, Dutch Oven said:

Certain whistle blowers deserve a medal... 😁

Others can get paid very well.

It isn't all money either some do not fall into the big money cases just doing it for other reasons environmental, lawbreakers, social good or political.

And NO I will not go into the political theatre here, that's the poli forum.  This is about taxes and knowledge.