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п»їLas Vegas Sports Betting 101: How to Bet on Sports in Las Vegas.
Every year, thousands of sports enthusiasts flock to Las Vegas to place their bets and closely watch their teams with dollar signs in their eyes. No matter what casino you’re in, you’re bound to walk by a massive wall of television screens donning every imaginable sport from football to UFC to horse racing. Among the rows and rows of chairs, you’ll notice avid sports lovers studying the spread and analyzing brackets for some good ol’ Las Vegas sports book betting.
It’s an exciting scenario, especially during big rival games and matches, Vegas Golden Knights games, or during March Madness. Sports betting can be a lot of fun if you’re knowledgeable, but it might be a little intimidating if you’ve never done it before. Before placing those wagers, be sure you know your terms like “money line” and “over/under” or you’ll be using your losing parlay card to dry your tears!
Types of Las Vegas Sports Betting.
Point Spread: The point spread represents the margin of points in which the favored team must win by to cover the spread. You’re wagering on a team winning or losing by a certain number of points set by the sports book.
Money Line: The money line is a bet on the odds of a team winning the game as opposed to a point spread that is based on the scoring outcome. Money Line is a simple wager on which team will win.
Parlay: A parlay is a single bet that links two or more wagers. To win the bet, the player must win all the wagers in the parlay. Parlays are very popular because you can take a wager as small as $2 or $5 and turn it into hundreds and thousands of dollars.
Futures: As the name implies, a futures bet is a wager placed on an event further into the future. For a futures bet, you may be wagering on who will go to the Super Bowl next year.
Propositions (Prop Bet): Prop bets are fun to wager on, especially if you’re not as experienced with sports betting. These are bets like “who will be the first to have and end zone celebration” or “what quarter will LeBron James cry”. Prop bets are just added wagers to keep the games entertaining.
Total (Over/Under): You’re betting on whether the total points, runs, or goals scored by both teams is over or under the total provided by the sports book.
Interpreting Sports Books Odds.
One of the first things you should do is learn how betting odds work. It’s important because it allows you to understand the probability of an event happening along with your potential earnings.
Whenever you see two numbers separated by a trailing slash, you can calculate how likely a given event is to happen with. For example: a 4/1 represents that there is an 20% chance and event will happen while a 1/4 will tell you that there is an 80% chance of the event happening. Odds are dependent on each particular sports book so it may be beneficial to shop around for the best payouts.
How to Bet at a Las Vegas Sports Book.
When arriving to your favorite Las Vegas sports book, it will be helpful to pick up the daily sheets to find out their wagering options. These are available for every sport and are updating frequently. On each sheet, you’ll find numbers associated with the different teams or players that correlate with what is shown on the digital display board. Using the sheets are a great way to understand what is available for betting that day along with favorites and underdogs.
Professional sports teams may be new to Las Vegas, but there has never been a shortage of sporting enthusiasm in the valley. Whether you want to bet on college or professional football , soccer, baseball, or NHL hockey, the Circa Sports sportsbook provides the best high-definition televisions and odds display boards for your betting experience. Make your way to Circa Sports where you’ll be able place your parlays, money lines, point spreads, and more!
Dawn of legal sports gambling in Virginia produces rush to gain new clients with promotions - just in time for Super Bowl.
Johnny Avello couldn’t have imagined sports wagering grabbing hold across the country the way it has in recent years. With 35 years in the horse racing and wagering industry, he’s made a living in Las Vegas setting odds on sporting events.
Only a handful of years ago, his odds on Virginia soon becoming a sports gambling playground wouldn’t have been great, and he would’ve been wrong.
Just in time for the Super Bowl, Virginia went online Jan. 21 for legal sports gambling through mobile apps, becoming the 20th state to permit sports wagering since the Supreme Court started opening the business to states other than Nevada in May 2018.
“I didn’t think it would ever happen going back five years ago, to be honest with you,” said Avello, the Director of the Race and Sportsbook for DraftKings, one of the first five mobile apps to gain a license in Virginia, along with FanDuel, BetMGM, BetRivers and William Hill. “Now that I see it evolving, it’s just like it’s full-steam ahead.”
Competition to gain a foothold in a new marketplace like Virginia, which could generate nearly $90 million in annual revenues from sports gambling, has been fierce. With the advantageous timing of licenses being handed out and permissions being granted for sports wagering outfits to flip the power switch on for their mobile app operations in late January, promotions centered around the Super Bowl have been a go-to marketing piece.
Naturally, some of the promotions are more attractive — and less inclined to “gotcha” trickery — than others.
FanDuel, in addition to offering a one-time “risk-free” bet of up $1,000 misfire on your first bet and FanDuel will deposit up to $1,000 into your account within three days — is also giving 55-to-1 odds on a first-wager only up to $5 on the outright winner in the Super Bowl. The catch? The 55-to-1 odds refund is issued in the form of credits that must be used on the site.
Avello said DraftKings already had at least 700 proposition bets posted on the Super Bowl by Jan. 25 or 26, which he indicates was two or three days before other mobile apps had their Super Bowl props up and running. BetRivers is offering $55 of free bets to be awarded in $11 increments in return for $55 or more of wagers on the Super Bowl, but all of the Super Bowl wagers must be placed on bets with odds of -200 or longer.
William Hill is giving $25 in free bets in return for five Super Bowl prop bets of at least $20 each from a list of specific prop bets offered for the promotion. BetMGM is providing a $10 free bet in return for a $25 Super Bowl-only parlay, and up to $20 returned to your account on a first-player-to-score-a-touchdown in the game wager if the wager doesn’t succeed.
All eye candy for prospective new clients. All with the goal of getting new bettors signed up in the crucial early stages of the business in Virginia, where wagers on sports involving colleges from the Commonwealth aren’t accepted.
“Very important,” FanDuel Group Chief Marketing Officer Mike Raffensperger said of the push to add clients in the first few weeks of legal sports gambling in the state. “Any new state launch, you’ll see one of the most intense periods of new-customer trial. Those customers also tend to be, speaking plainly, guys that have bet before, and so they are sticky. They’re highly valuable. They really like the platform, they stick with it, and so you’ll see a lot of intensity from marketing and promotional generosity.”
Through a commercial and marketing partnership with the Washington Football Team — the first of its kind involving an NFL franchise and a mobile app that accepts sports wagers — FanDuel was able to gain preferential access to the Virginia market and, thus, was the first to launch its mobile app when licenses were awarded and standards were established by the Virginia Lottery, which oversees sports betting regulations in the state.
Raffensperger is a relative neophyte to the sports wagering business. Yet, as a former marketing and creative executive with Amazon Advertising, DIRECTV and global marketing firm Magnet Media, he knows a pursuit that’s ripe for growth when he sees it.
While Avello may be surprised by the rapid proliferation of sports wagering in the country, Raffensperger isn’t.
“The United States is the biggest sports betting marketplace in the world,” Raffensperger said. “That is mostly happening through gray-market, black-market and offshore companies that may or may not give you your money. I think a lot of states are realizing this is something important that we can regulate.
“Frankly, (the coronavirus) has been devastating to every state budget across the country, and I think that there’s a realization that this is a new tax base that they can help offset some of those budget deficits. Also, being frank, it’s what consumers want. Whether you’re on the red team or the blue team, it tends to make your constituency pretty happy.”
As the business continues to grow in the Commonwealth, the expectation is more licenses will be awarded in the near future, giving hope to prospective future involvement for people like Shane August, whose initial application for a license wasn’t accepted.
A 2008 Norfolk State graduate who is the President and CEO of August Holding Corporation in Chesapeake and Virginia Beach, August aims to expand from his interests from financial services and health care to try to gain a minority ownership foothold in sports wagering.
“I’m in business, so I love competition,” said August, conceding the lack of experience his business has in sports betting played a role in not being granted a license. “The market of sports wagering brings two things together — competition and love for sports. Now that it’s becoming legal, we want to get into the market, but just being candid, it’s a market that’s currently dominated by corporate conglomerates. There really isn’t too much minority participation, so I think we’re trying to be the first or one of the first minority groups to break into the industry. It’s a tall hill to climb, but I do think we have the resources, the know-how and the support to do it.”
Despite being shut out of the first round of licenses, August isn’t straying far from sports gambling pursuits. He’ll have his stake in Sunday’s game.
“Something about Pat Mahomes, man, he’s a winner,” August said. “I’m going with the Chiefs by six.”
Best Sportsbooks in Vegas.
While Vegas sports betting has been legal for quite some time , and the only place where sports fans could legally place bets in the United States for decades, it is still making record-breaking revenue for the state of Nevada year after year.
It’s hard to walk down the Vegas strip without finding a land-based sportsbook where you can place a multitude of sports bets. Most visitors who come to Vegas choose to stay on the strip, making it likely that the hotel they stay in has an easily accessible sportsbook.
As if Vegas wasn’t already a substantially popular tourist destination, with the addition of sports teams like the Vegas Golden Knights and the Oakland Raiders moving to Vegas this upcoming NFL season, Vegas will see even more foot traffic in coming years. Not to mention they regularly host huge sporting events like UFC and boxing fights that bring in millions in revenue.
While the question of whether you can bet on sports in Vegas is a bit redundant, as Nevada has always been grandfathered in and not subjected to PASPA rules, it’s still important to know the legislation around sports betting in Vegas.
Vegas Sports Betting Options.
Aside from offshore sportsbooks, Vegas will have the most comprehensive and advanced betting structures compared to other states who just recently legalized sports betting. They offer a variety of different betting types and it’s great to get to know each betting option so you can make the right bet depending on which game or match you plan to wager on.
Betting on the moneyline in Vegas is the most popular option and a common betting type across the United States. It would be the standard betting option in most states, and the easiest betting type to understand. When betting the Vegas moneyline, you will be picking which team you think will win, or which fighter or competitor - whatever sport you are betting on. You will have two options with odds denoting the favorite and underdog, and you will have to decide who will win out of the two.
The point spread is a little more complicated, as it shares the same principle as the moneyline, but the underdog will be given a head start by the oddsmakers. So, if a football team is favored by 7.5 points, the underdogs will start the game with 7.5, if they lose by less than 7, the underdogs win that bet. Also if the underdogs win, the underdog bet cashes. If the spread between the two teams is more than 8, you will lose the bet.
Totals are commonly referred to in Vegas as the over/under. You may see odds with an O/U next to it, and that signifies you will be betting on the total number of points accumulated by both teams in the game. If you see oddsmakers chose a football total of 58, you will need to decide if the total number of points by both teams will add up to more or less than 58.
If you want to make things a little more interesting and rewarding, you can combine bets together to create a parlay bet slip. These are very common in Vegas as the potential payouts can be huge, due to adding all of the odds for each leg of your bet together. The odds are higher because the likelihood of all legs of your bet cashing is much less with parlays. To win a parlay, each and every prediction you make will need to occur for you to see any Vegas money.
Futures are popular during the preseason of any sport. The oddsmakers will release odds on each team to win a certain event, like the Super Bowl for instance, and you can put money on a team, far in advance. These odds will be rather high as it’s pretty tough to accurately predict the Super Bowl winner in August, when the event takes place in February.
Vegas Betting Tips.
While the betting options sound easy enough, we don’t want to throw you to the wolves when it comes to Vegas betting. It can be extremely fast-paced and if you don’t know your stuff, it could be a little tricky to keep up with the sharks.
We have a few valuable Vegas betting tips to help you when visiting Sin City.
Ensure you do your research on the sportsbooks you plan to use when visiting. Not all lines are made equal, if you’re going to Vegas for a few days, try a different sportsbook each day or multiple in one night. You can find better odds at some, and there are definitely some shining stars when it comes to the atmosphere.
Research your bets before placing them . Don’t just half-heartedly bet on any team. Look into the matchup and ensure you place an educated wager instead of guessing.
Know when to step away from a wager . Not all bets are going to be worth making. If a team is heavily favored and you will bet more than you would win, sometimes it’s important to know when to back away and let that game go. If you aren’t factoring in the amount you may win and that it may not be worth the risk, you should keep your money or bet on another game.
Top Sportsbooks for Betting in Las Vegas.
Now that you have an idea of how to bet on sports in Vegas, you need to find yourself a sportsbook to place your wagers at.
The Westgate Superbook is by far the largest sportsbook in the world, with more than 350 seats and a huge video wall to watch the games. The Palazzo at the Venetian has the Lagasse Stadium, with great food and drinks, and 100 televisions to keep an eye on every game you’re betting on.
The Red Rock Casino Resort and Spa is another popular sportsbook on the strip, offering a 96-foot video wall, sports bar, and a VIP area that allows you to overlook the entire sportsbook. Topgolf Las Vegas has been growing in popularity, as it combines entertainment and sports, offering a not only golf driving range, but huge televisions in their 215-yard outfield.
Other great options include the MGM Grand, Mandalay Bay, the LINQ Hotel, and The D.
Online Vegas Sports Betting.
While it’s worth it to visit any of the above physical sportsbooks, it’s great to bet online as well, as it’s the most convenient and simple way to do so. Many Vegas sportsbooks offer mobile apps so sports bettors never miss a moment of the action, even if they can’t get down to the physical venue.
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