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Sunday, April 09, 2017

OTP 10 April 2017: More sports teams want in on 50-50 raffles

[Texas] lawmakers in 2015 approved a plan to let 10 professional sports teams in Texas hold … 50-50 raffles during sporting events, and voters also approved the plan.

[Team] officials said they were “very pleased” with the support they saw from Rangers fans during the first year of the Texas Two Split.

“We were able to raise significant funds to support Rangers Foundation programs, including the construction of the new Texas Rangers MLB Youth Academy at Mercy Street Sports Complex, presented by Toyota, as well as to support community initiatives like the Line of Duty Fund that supported the families of the Fallen Officers from July’s tragedy in Dallas,” said Karin Morris, executive director of the foundation.

I am never sure how much good these multiple layers of foundations and sponsored projects do for anybody.  And I’m not fond of that much vigorish.  But some aren’t as choosy, because even on a weeknight the Rangers tend to take in $15-$18K in this raffle, or about a dollar for every fan in the park. What does the BBTF collective think of 50-50 raffles, as public policy?

(As always, views expressed in the article lede and comments are the views of the individual commenters and the submitter of the article and do not represent the views of Baseball Think Factory or its owner.)

 

BDC Posted: April 09, 2017 at 08:34 PM | 1484 comment(s)
  Beats: charity, gambling, politics, rangers

Friday, February 10, 2017

MLB commissioner: ‘We are re-examining our stance on gambling’

And on Wednesday at the Yahoo Finance All Markets Summit in New York, MLB Commissioner Rob Manfred confirmed that he is monitoring the issue and re-thinking pro baseball’s long-held stance on the issue.

“There is this buzz out there in terms of people feeling that there may be an opportunity here for additional legalized sports betting,” Manfred said. “We are reexamining our stance on gambling. It’s a conversation that’s ongoing with the owners.”

When fans bet on games, Manfred continued, it “can be a form of fan engagement, it can fuel the popularity of a sport. We all understand that.”

And make no mistake: fans are betting on games. The American Gaming Association estimates that $4.7 billion was bet on this year’s Super Bowl, an all-time high—but 97% of those bets were placed illegally.

RoyalsRetro (AG#1F) Posted: February 10, 2017 at 12:57 PM | 34 comment(s)
  Beats: gambling, rob manfred

Vegas win total for defending champ Cubs set at 95.5; totals for all 30 teams released

For the 11th straight year, the Atlantis Casino in Reno, Nevada, is the first sportsbook with MLB season win totals, and it set the Cubs’ number at 95.5 for betting that began Friday morning.

After opening the Cubs at 89 wins last year—second in the National League behind the San Francisco Giants—head oddsmaker and Atlantis sportsbook director Steve Mikkelson is now a believer….

In the NL, the Los Angeles Dodgers (91.5), Washington Nationals (90.5), New York Mets (89.5), St. Louis Cardinals (87.5) and Giants (87.5) also have win totals over 87.

In the American League, Mikkelson has the Cleveland Indians with the highest win total at 92.5, but he said the Boston Red Sox (90.5) have a better World Series shot.

RoyalsRetro (AG#1F) Posted: February 10, 2017 at 09:40 AM | 35 comment(s)
  Beats: casinos, cubs, gambling, odds, vegas

Tuesday, December 06, 2016

A record $1 billion bet on MLB in 2016

Putting Pete Rose in the pre-game studio is paying off.

Through October, $1.0 billion was bet on baseball at Nevada’s regulated sportsbooks, an all-time record, according to gaming control, and nearly double the amount that was bet in 2010. By comparison, $1.6 billion was bet on football (NFL and college) in 2015.

At a time when more money is being bet on baseball than ever before, Major League Baseball is taking a new approach to how it keeps track of the betting on its games.

A two-hour workshop highlighting potential benefits of legal sports betting and the technology available to protect the integrity of the games was held Monday at Major League Baseball’s winter meetings in Washington, D.C.

Major League Baseball partnered this spring with Genius Sports, a sports integrity firm that monitors international betting markets, looking for irregularities that may indicate corruption. Headquartered in London and with office in Los Angeles, New York and Washington, D.C., Genius Sports provides MLB with market analysis, real-time alerts and other protections designed to identify betting-related corruption.

Genius Sports estimates $55 billion is bet annually on baseball throughout the world, with only a small fraction taking place in legal markets.

RoyalsRetro (AG#1F) Posted: December 06, 2016 at 03:04 PM | 10 comment(s)
  Beats: gambling

 

 

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