Prior to the Daytona 500, I visited several sports books to grab odds sheets and find the best value. I found the LVH and William Hill odds to be the ones with the fairest and lowest theoretic hold percentage – both in the low 30 percentile. Almost every book had a driver or two that offered good value.
However, one book stood out that truly embarrassed me as a Las Vegan and even more as a former bookmaker. Caesars Palace, a once great sports book run by some of the sharpest bookies ever in Las Vegas, offered Daytona 500 odds that approached the most sickening hold ever seen on any type of index odds.
That’s what happens when odds of 9-1 or less are placed on 12 drivers. It’s really none of my business how a book wants to be perceived or how they want to run their business, but I can’t keep quiet about it simply because I don’t like how they treated our guests at their chain of properties. Guests to my city deserve better.
Their odds basically said they didn’t want any action from people who know the difference, which is fine, but to take bets from unsuspecting guests at their ridiculous prices doesn’t seem right. Their customers who chose to stay at one of their properties deserve a better betting experience instead of essentially being called a rube by the property.
The Daytona 500 is a small portion of action, but their kicking the public in the groin with a smile doesn’t stop there. They also have the worst World Series, Super Bowl, College Basketball and NBA Championship futures in Nevada.
Their best service to the guests might be to eliminate all their type of odds offered that can’t get below a 50 percent theoretical hold. Or better yet, they can just call Cantor or William Hill and say their guests deserve better, come take over.
This is exactly how Bookmaker treat us as NASCAR bettors. Weeks when they have had near 50% hold have left me with the same sort of feeling he describes... feeling like being treated like a rube.
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Shame on Caesers
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