What were oddsmakers thinking when they installed the Los Angeles Rams as the favorite of over the New England Patriots in Super Bowl LIII?
Oddsmakers don’t make many mistakes. Otherwise, casinos and sportsbooks wouldn’t be in business. They certainly don’t make mistakes on NFL games, which attract the vast majority of sports gambling activity in America. And, it’s beyond inconceivable that a major attraction like the Super Bowl, which generates billions of dollars in betting action, would have a pointspread that’s quite possibly off by perhaps 4 or more points.
What were oddsmakers thinking? Or smoking?
Installing the Rams as a -1 favorite was the worst opening line on a Super Bowl game in history. Bar none. It wasn’t just a terrible number. The line was so bad that the wrong team was favored.
In January 1971, I made my first-ever sports wager.
I remember the game all too well because it was my first loser. I lost $1.
Betting on elections requires an apolitical approach. Personal opinions about candidates and various outcomes are not only irrelevant but delusory. Just as wagering for or against sports teams because of our allegiances would be a long-term losing strategy, betting on political elections because we prefer one candidate versus the other is misguided.
The Duke of Fremont Street is a cathedral to class.
If you’ve been around Las Vegas for any length of time, it’s likely you’ve seen the dapper gentleman dressed to the limit. If not, then perhaps the 1938 Cadillac caught your attention. From his earliest origins spent gambling along the Mississippi River all the way to the bright lights of the Las Vegas Strip, the Duke has been there and always seems to be closing a deal.
In this 25-minute interview, I sat down with the Duke where we talked about his life, what he thinks of Las Vegas and casinos today, and where he thinks we’re all headed. No surprise, the Duke delivers. He holds nothing back. He sounds just as cool as he looks.
Today, the United States Supreme Court struck down a federal law which prohibited most states from allowing legalized gambling on sporting events.
By a 6-3 vote, the high court’s ruling overturned the Professional and Amateur Sports Protection Act (PASPA), which was a 1992 law that banned state-authorized sports gambling (aside from Nevada).
What does this ruling mean? Well, it’s really good news for sports gamblers. It’s even better news for many states and companies with the infrastructure to begin offering sports betting. And, it’s fabulous news for the State of New Jersey, and especially Atlantic City, which has experienced a steady decline in popularity as a recreational gambling destination over the last 20 years.
Here’s my list of the winners and losers in today’s historic decision which is expected to drastically alter the American sports gambling landscape.