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Guy in Vegas who's a known Sharp just put.....

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Posted: #101
i'm sure there has been more $ wagered, but that was the largest I witnessed...it was some ridiculous unrounded amount (not exactly $35k), i'm not sure why it was 37,234 or whatever it was i couldn't believe it, guy looked at me then i just looked away.

again none of my biz, and nobody should b considering $50k wagers unless you talk with top management first
 
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Posted: #102
more i think about it, less reason there is to talk about this stuff...

never seen anybody cash $ for a large wager without filling in the tax form
 
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Posted: #103
have to be 300 to 1 to do taxes. straight bets your fine.
 
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Posted: #104
you know your garbage. first person i have met on this site that has.
 
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Posted: #105
Quote Originally Posted by ALTABLOCK:

you know your garbage. first person i have met on this site that has.


aha your sportsbook is William Hill...

i figure zero chance anybody's betting $50,000 at William Hill, they started with just the smallest books (far as I can tell), and recently/need a foot in the door first.  taking $10, $50, $100 (or whatever) bets often Downtown....

yeah it's unfortunate knowledge i figured useless knowlege.

this is all just my opinion, of course.
 
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Posted: #106
Quote Originally Posted by budwiser:



aha your sportsbook is William Hill...

i figure zero chance anybody's betting $50,000 at William Hill, they started with just the smallest books (far as I can tell), and recently/need a foot in the door first.  taking $10, $50, $100 (or whatever) bets often Downtown....

yeah it's unfortunate knowledge i figured useless knowlege.

this is all just my opinion, of course.

but William hill has so many books in vegas that it might be one of the biggest places. there everywhere. and i put William hill but i don't always bet with them.
 
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Posted: #107
do you live in vegas?
 
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Posted: #108
Quote Originally Posted by ALTABLOCK:


but William hill has so many books in vegas that it might be one of the biggest places. there everywhere. and i put William hill but i don't always bet with them.


yeah if you want to go with william hill they're everywhere, if you've got a large bet just talk with top management that's all

i've never bet over $5k, so i honestly don't know how the big bets work (other than "key!"), but i've been in Vegas enough to know you have to treat the books with respect. the books are the same, but slightly different, William Hill is a good book

coming up to a counter asking to bet $50 is asking to get people fired if you win, as you said

it's none of my business, and i could pretty much care less what other people do, but this is what i see when i'm around the strip. here i am talking about it on Covers
 
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Posted: #109
Quote Originally Posted by ALTABLOCK:

do you live in vegas?


no, but a plane trip or car drive away....
 
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Posted: #110
only thing u didnt know is that you only have to pay taxes on a sports wager if the odds are 300 to 1 or greater. but theres always a way to get around that kind of stuff. 

much respect for you 
 
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Posted: #111
Quote Originally Posted by ALTABLOCK:

no casino in vegas will take that big of a bet. they need equal action to win money. there is a guy at every sports book that trys to get equal action. and if to much money is on one side than he will bet on the same side that the public is betting at another casino. so if he and public wins then the casino loses and he wins. or he loses and the casino wins. thats his entire job. no one would take a 50 grand bet and put his job in that much risk
-i live in vegas.

This makes no sense.  The public probably bets on the same side at all casinos.  If so, then if your casino's "guy" bets on the public side at other casino (offsetting your loss), there's another casino's "guy" betting on your casino.

For every offset bet you placed at another casino, a third casino probably put an offset bet at yours.  It'd be an endless cycle.

Besides, how is equal betting ever possible?  Especially where you offer hundreds of wagers including 2H and live betting where the posted odds only stay open less than 20 minutes? 

 
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Posted: #112
Quote Originally Posted by ALTABLOCK:

have to be 300 to 1 to do taxes. straight bets your fine.

Ummm, one time I was going to cash three separate tickets totaling over $15k (in winnings) at Cantor Silverton.  The sports book manager told me that if I did that all at once, I was going to have to fill out paperwork because it was over $10k in a cash transaction in 24 hrs.  I cashed out 2 of three and came back the next day to cash the third the next day.  He told me next time, I should open an online account and just withdraw under $10k each time within a 24 hr period.  He said there is no cap on the betting limits if you have an online account with them and they process 5 figure bets regularly for online customers.

What say you about that?



Let's go Darwin
 
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Posted: #113
thanks man, respect back, but i figure nobody respects US

it's like a black hole...you can't tell anybody about what happens in Vegas, like the commercial it's a shame, great town, seen some of the best shows in the world there

300 to 1 i didn't know, but I believe I know about $10k.....on one wager
 
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Posted: #114
Quote Originally Posted by composite:

This makes no sense.  The public probably bets on the same side at all casinos.  If so, then if your casino's "guy" bets on the public side at other casino (offsetting your loss), there's another casino's "guy" betting on your casino.

For every offset bet you placed at another casino, a third casino probably put an offset bet at yours.  It'd be an endless cycle.

Besides, how is equal betting ever possible?  Especially where you offer hundreds of wagers including 2H and live betting where the posted odds only stay open less than 20 minutes? 


its called moving the line. it doesn't need to be completely even. but as close as the man can get it. and the guy who bets with the casino was the owner of it. he would talk to the guy in the book than ask for my opinion.
 
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Posted: #115
I THINK ITS KIND OF SCARY TO HAVE TO OPEN AN ACCOUNT.. NOWADAYS THERE"S REALLY NO PRIVACY.. CANTO GAMING REALLY MADE A BIG MOVE IN THE INDUSTRY DOWN IN VEGAS..
 
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Posted: #116
Quote Originally Posted by ALTABLOCK:


its called moving the line. it doesn't need to be completely even. but as close as the man can get it. and the guy who bets with the casino was the owner of it. he would talk to the guy in the book than ask for my opinion.

I thought the guy from Caesars bookmaker once said they don't get equal money on games. As in not even close.  For the NO vs SF playoff game 2 years ago for instance,  he said much more was wagered on NO than SF.  They just hoped the right side won. 

Also, what about Money Line bets with dogs +250 or higher.  It's gotta be impossible to get anything close to equal action on such bets.   People hate betting $3 to make $1.  They think it's too much risk.  But Vegas still puts up odds for those things. In fact, I thought they took a bloodbath when NYG beat NE 6 years ago in the SB as a 10 pt dog.

 
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Posted: #117
Quote Originally Posted by budwiser:

thanks man, respect back, but i figure nobody respects US

it's like a black hole...you can't tell anybody about what happens in Vegas, like the commercial it's a shame, great town, seen some of the best shows in the world there

300 to 1 i didn't know, but I believe I know about $10k.....on one wager

there's no taxes on a single sports wager bet no matter what. at least in vegas. gaming thinks u will lose over time since u have to win something like 55% of bets.
 
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Posted: #118
Quote Originally Posted by composite:

I thought the guy from Caesars bookmaker once said they don't get equal money on games. As in not even close.  For the NO vs SF playoff game 2 years ago for instance,  he said much more was wagered on NO than SF.  They just hoped the right side won. 

Also, what about Money Line bets with dogs +250 or higher.  It's gotta be impossible to get anything close to equal action on such bets.   People hate betting $3 to make $1.  They think it's too much risk.  But Vegas still puts up odds for those things. In fact, I thought they took a bloodbath when NYG beat NE 6 years ago in the SB as a 10 pt dog.


people dont bet thousands on moneylines.
 
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Posted: #119
I'm a people...LOL
 
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Posted: #120
Me thinks ALTABLOCK doesn't know what he's talkin bout. 
Let's go Darwin
 
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Posted: #121
the vig on ML lines are huge.
 
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Posted: #122
Quote Originally Posted by ALTABLOCK:


there's no taxes on a single sports wager bet no matter what. at least in vegas. gaming thinks u will lose over time since u have to win something like 55% of bets.


you're right, everybody loses.  there's a reason the major casinos are built like palaces

you figure the cost of travel, housing, food, and 55% is the minimum.  it's very hard to win in the long run. and if you do win, there are plenty of shows, and shops.

i saw someone asked to fill out the tax form at Cantor, who's getting targeted by the gov't for shady biz.  i guess shady biz includes filling out your tax forms (j/k)
 
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Posted: #123
Quote Originally Posted by ALTABLOCK:


people dont bet thousands on moneylines.

No, but they might a couple thousand on the ML. But the point is, no one bets the favorite.  So lots of little bets on the dog can eventually add up to $10-20k or so.  For a 250+ dog, that's risking $25k-50k. 

I'm just shocked that a casino would care so much about a $50k sportsbook bet, when the entire casino is transacting BILLIONS in slots, table games, etc.  They barely blink about a whale that wipes them out for a million dollars one day?  But they'll fire a guy for approving a $50k sports bet that wins? 

 
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Posted: #124

Quote Originally Posted by ALTABLOCK:

the vig on ML lines are huge.

No the vig is the same: 10% on each side. It just looks big because when your odds move away from 50/50, the numbers look like a bigger gap.  For instance -110 on one side and -110 on the other, is the same as -400 and +350.  It's both 10% or so.

 
 
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Posted: #125
Quote Originally Posted by ALTABLOCK:


there's no taxes on a single sports wager bet no matter what. at least in vegas. gaming thinks u will lose over time since u have to win something like 55% of bets.

Which  is why I don't understand why a $50k bet would bother them.  If they think every bettor will lose, wouldn't they want more large bets? Larger bets eventually mean larger losses.

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