Vegas sportsbook - arb opputunities?

[pingu]

hi, i havent seen that much arbitrage talk in this forum, (i have searched, but theres not much talk from what i saw about it).

well, i had a plan. I dont have any arbitrage experience, yet. im starting as soon as my neteller account gets verified. i sent my documents yesterday.

something i was aspiring to, was to have a small team, to sniff out arbitrage oppurtunities in vegas. I know thats not something ill be doing next week, but is an ultimate long term goal. the way i imagine it working, is having team member(s) in vegas, at particular sportsbook(s) speaking on phone to other team member(s) from outside the US. (UK for example). when an arb between say vegas sportsbook A and online sportsbook A is available, both the UK based and vegas based members hit the arb oppurtunity.

now obviousely i wouldnt expect this to be done all manually, and would employ some sort of odds scraping program to find the odds from BetFair and various other sites and continually compare them to land based sportsbook odds.



this is a long way away for obvious reasons, but this is sort of how i currently invisage it. Is anyone on these forums arbing land based sportsbooks in vegas? and where would be the best place in the forums to find threads discussing this?

Also, are there any shortcomings you see in what ive explained?

Im just starting out with this right now so dont expect me to know everything just yet

[pingu]

its been over 2 days now... i think a bump would be acceptable now?

[DukeJohn]

hi, i havent seen that much arbitrage talk in this forum, (i have searched, but theres not much talk from what i saw about it).

well, i had a plan. I dont have any arbitrage experience, yet. im starting as soon as my neteller account gets verified. i sent my documents yesterday.

something i was aspiring to, was to have a small team, to sniff out arbitrage oppurtunities in vegas. I know thats not something ill be doing next week, but is an ultimate long term goal. the way i imagine it working, is having team member(s) in vegas, at particular sportsbook(s) speaking on phone to other team member(s) from outside the US. (UK for example). when an arb between say vegas sportsbook A and online sportsbook A is available, both the UK based and vegas based members hit the arb oppurtunity.

now obviousely i wouldnt expect this to be done all manually, and would employ some sort of odds scraping program to find the odds from BetFair and various other sites and continually compare them to land based sportsbook odds.



this is a long way away for obvious reasons, but this is sort of how i currently invisage it. Is anyone on these forums arbing land based sportsbooks in vegas? and where would be the best place in the forums to find threads discussing this?

Also, are there any shortcomings you see in what ive explained?

Im just starting out with this right now so dont expect me to know everything just yet

Vegas limits are pretty low compared to limits at online non-us accepting places. So, you wouldn't be making a lot of money. It might be okay, maybe for you and another, to make a living, maybe. However, it would be a lot of work. Especially if you are to get a 2% arb down on a $2000 limit, then you are talking about making $20. You would need to find that everyday. Also, now you might be able to get it down at a few places in Vegas to help with that, so maybe 4. Which would get you $80. Of course you would have higher limits for NFL, but those are only once a week so...

Anyway, you might be able to somehow make a small living for two people, but a crew, I don't think so. However, I could be wrong, just my thought on it.

BoL,

[pingu]

i see, so vegas booky limits are roughly $2,000? i was assuming they wouldnt have really blinked an eyelid at a $10,000 bet. ive not been to vegas though and was just an assumption.

can anyone confirm average booky limits in vegas? and roughly how close together or how far apart are they? i was told that half the strip is owned by 2 companies. (harrahs and MGM i think). and that theyre booky odds all were the same, so i thought having 2 harrahs books close together for example would be good because you know the odds are the same next door (or however far) unless they change before you get there.

[magynuck]

i do not think this is feasible...just arb online

[Johnny 55]

Just bet the off market stuff, you will make way more money long term and it will be less work also.

[pingu]

by "off market stuff" im assuming that you mean where the odds are favourable for the punter? EG if the booky buts someone as 2 to 1 but you think its an even match for example?

[DukeJohn]

i see, so vegas booky limits are roughly $2,000? i was assuming they wouldnt have really blinked an eyelid at a $10,000 bet. ive not been to vegas though and was just an assumption.

can anyone confirm average booky limits in vegas? and roughly how close together or how far apart are they? i was told that half the strip is owned by 2 companies. (harrahs and MGM i think). and that theyre booky odds all were the same, so i thought having 2 harrahs books close together for example would be good because you know the odds are the same next door (or however far) unless they change before you get there.

It sure would be nice if Vegas had $10K limits on MLB, but nope. Anyway, let me find a link to Vegas limits, one sec.

Okay here it is:

http://www.frankrosenthal.com/sportsbooks/

Anyway, he/she/they list the Vegas limits and stuff. Like I mentioned you will find a couple of places with $10K limits on NFL, but nothing like that on other sports. I might add, last I checked which was a while ago, the M was not listed so...

BoL,

[TheDarkRodent]

i see, so vegas booky limits are roughly $2,000? i was assuming they wouldnt have really blinked an eyelid at a $10,000 bet. ive not been to vegas though and was just an assumption.

can anyone confirm average booky limits in vegas? and roughly how close together or how far apart are they? i was told that half the strip is owned by 2 companies. (harrahs and MGM i think). and that theyre booky odds all were the same, so i thought having 2 harrahs books close together for example would be good because you know the odds are the same next door (or however far) unless they change before you get there.

I lived in Vegas for ten years and worked as a craps dealer the entire time. Anyone who says that Vegas sports book limits are 2 dimes has never been to Vegas. Most books will take ten time that action or more.

[RickySteve]

Incredibly bad information stinking up this entire thread.

[DukeJohn]

I lived in Vegas for ten years and worked as a craps dealer the entire time. Anyone who says that Vegas sports book limits are 2 dimes has never been to Vegas. Most books will take ten time that action or more.

You actually believe there are places that will take $20K on hockey. Please, please name them.

[frankbettor]

The disinformation in this thread is sad. As for bookies, there are plenty that will take $2000 grand and up. I'm not talking about the guy who lives on the hill either. Ask who these people are and where they congregate and do business with them. It's that easy.

[pdx107]

It sure would be nice if Vegas had $10K limits on MLB, but nope. Anyway, let me find a link to Vegas limits, one sec.

Okay here it is:

http://www.frankrosenthal.com/sportsbooks/

Anyway, he/she/they list the Vegas limits and stuff. Like I mentioned you will find a couple of places with $10K limits on NFL, but nothing like that on other sports. I might add, last I checked which was a while ago, the M was not listed so...

BoL,

Don't know how accurate those numbers are because they still have the Stardust as being open and I have bet $5 at the Golden Nugget

[DukeJohn]

Don't know how accurate those numbers are because they still have the Stardust as being open and I have bet $5 at the Golden Nugget

I pulled that page from another thread where this topic was discussed in 2009 here:

http://forum.sbrforum.com/sportsbooks-industry/260100-las-vegas-sportsbook-questions.html

So, the site is probably a little old, but people can still get the general idea. So, for discussion purposes if one was thinking he/she could get $15K down on every sport or in this case in a daily sport such as MLB or NHL then you could see this is not the case.

The OP was looking for arb opportunities and thought, as many of us do, that every sports book in Vegas will take $20K on every sport or something along those lines and that is simply not true from what I have read from other posters that live in Vegas.

BoL,