Hate to tell you but...if your top gaming guy gets arrested for illegal bookmaking and money laundering, you will be investigated. That investigation was already announced by the NGC today. When someone that high up gets arrested on these type of charges, THEY HAVE to investigate to see who else in the company may be involved. You're right, they haven't been implicated, yet. It's been 7 hours since the indictment was unsealed. The investigation of Cantor was just announced today.
This is what Cantor has to worry about: Did Colbert funnel any money through Cantor? Did he use Cantor or Cantor employees in any way to further illegal activities? Did he direct action one way or another for his own personal benefit? And most importantly, did Cantor know (or should they have known) that he was possibly using the company in this fashion (if indeed he was)?
I can understand that position. I think there is a place for both types of operations. There will always be lots of people who enjoy the actual excitement of watching the game socially. For alot of people, it's as much about this social interaction as it is gambling. And for the casino, having people around is always a good thing.
I also don't believe that all casinos would want to hand over their bookmaking operations to an outside company. It's not like it loses money. In fact as more books go to the "market" model of setting numbers, I would think that margins could actually increase in this area as it would necessarily need less overhead to operate. The books would just copy the market number when it moves. They will also have selectively higher limits (for some people) which would increase hold.
This leads me to what I believe is the bigger effect of Cantor and William Hill. They won't run EVERY sportsbook, but THEY WILL have the effect of greatly reducing the variation in numbers available. I don't think there is any way of getting away from that.
Once the number is not in question anymore, then books will compete on various things like limits, service, comps, etc. and bettors will pick and choose based on the experience they want.
Cantor Gaming's focus is "account wagering"....remember these guys were big-time bond traders (in the billions); William Hill is for the little guy/masses (as they are in England....a bookie shop on every corner)...they are both needed in this town, and can "complement" the books in the main hotel/casinos that provide a "convenience" to their guests.
Most of the people in this forum will prefer William Hill's approach to bookmaking once they figure out their place in the Nevada gaming market.....
As to the original reason for this posting..........If Mike Colbert was not part of this, no one would ever have heard about the arrests. This happens much more often than anyone is aware of......finding an offshore operation that sets lines, funnels money, and receives a piece of the action is pretty easy (if you want to set up your own bookmaking operation)...and the feds just backtrack, find where the bets are coming from and how the money is being funneled; and BINGO....another gambling bust.
This is the kind of event that can further the cause of legalizing sports/internet betting....if publicized correctly. We'll see......
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