Pro Bettor James Holzhauer’s Key to Success

“Holzhauer has dominated “Jeopardy!” like no one else since the current version of the television game show had its premiere in 1984. He won again on the episode that aired Wednesday, pushing his total earnings above $1.1 million, second on the all-time list behind the legendary Ken Jennings.”

The NY Times interviewed Holzbauer in the spring of 2019, asking him several questions of how he was so successful on the popular show.

The big key to his success was going aggressive from the opening bell.  He would go right for the $1,000 questions, skipping the lower tier amounts.

As stated in the NY piece, you could make an analogy to sports betting or poker tournaments. There are big advantages to having a lot of chips early on in a poker tournament. Consequently, the bettor can make plays that other people can’t.

Would you describe the traditional way of playing “Jeopardy!” as overly risk-averse?

“I would definitely say it’s too risk-averse,” explained Holzbauer.  “The funny thing is, my strategy actually minimizes the risk of me losing a game. There’s times in a football game where a team goes for a big TD pass. If you don’t take a risk like that, you’re not going to win. Really, the big risk is never trying anything that looks like a big gamble.”

You can read the full Times interview of Holzhauer here.

 

Goldman Sachs Raises Penn National’s Stock Target by Almost $40 a Share

Fresh off mobile launches in Michigan and Virginia, gambling analysts on Tuesday gave another vote of confidence to publicly traded sports betting companies.

Goldman Sachs upgraded DraftKings to a buy with a $65 price target and reiterated Penn as a buy with a growing price target from $86 to $124 a share.

As of 12:30pm ET, DraftKings was up seven percent on the day to $54.90, while Penn was down 1.8 percent to $102.12.

The DraftKings upgrade was based on what the analysts said was a market leader position and “ability to participate in the economics of single operator states.” DraftKings, for example, runs sports betting in New Hampshire through its contract with the state lottery…

5 New States Likely To Legalize Sports Betting This Year

As the 2021 legislative season starts, legal sports betting will be front-and-center for a handful of states … and will continue to be a frustrating topic for others. Since PASPA fell in May 2018 , 24 U.S. states have legalized or allowed some…

California is not on this list because a tribal referendum is nearly set for 2022, and while lawmakers may again try to create their own referendum, it seems certain Indian Country won’t let that happen.

Here’s a look at my prediction of how things will play out:

States with a real shot to legalize in 2021

Arizona

What’s going on now: For the last two years, Sen. Sonny Borelli has pitched bills that would allow both tribal and commercial retail wagering. The state’s tribes have objected, and the bills didn’t gain any traction. Going into 2021, the landscape has changed some — FanDuel signed a deal with the Phoenix Suns, which seems to imply that commercial digital wagering is being seriously considered, and tribal pacts are set to be renegotiated. Sources say a new House bill that includes a mobile component is in the works. The legislative session is only three months long.

Is 2021 the year?: It’s a tossup. If all stakeholders are in agreement when the new bill is filed, then yes. If not, sports betting is too heavy a lift to get done in three months…

How A 40-Year-Old Horse Racing Law Helped Move Sports Betting Forward

A look back…

Forty years ago, Congress passed a comprehensive bill for horse racing that could be a model for nationwide sports betting legislation.

The federal law — the Interstate Horseracing Act — even includes a “consent to bet” clause that may cause certain US sports league executives to drool.

Related developments in sports wagering are proceeding at a rapid pace, increasing the chances that Congress will weigh in soon.

Indeed, in just the last two months, potential sports betting legalization has moved from the US Supreme Court to the Indiana statehouse. The draft bill out of Indiana even mimics the 40 year-old horse racing statute, with a clause allowing sports governing bodies to “restrict or limit wagering” on certain events…

Source: How A 40-Year-Old Horse Racing Law Can Nudge Sports Betting Forward

Michigan Online Sports Betting Could Launch in Days

The wait is nearly over: Michigan online sports betting is finally close to launching.

It’s about time. MI sports betting and iGaming were legalized late in 2019, and retail sports betting launched in March.

A drawn-out rules process eventually wrapped in December. While there were hopes the market would launch last month, it now sounds like operators will definitely be prepared to take Super Bowl bets online.

“We could have an announcement this week,” Michigan Gaming Control Board Executive Director Richard Kalm said at this week’s board meeting.

“We’re very close,” he added later.

Here are the 15 sportsbooks in Michigan…

Churchill Approved for Sports Betting in Tennessee

In the same week CDI announced that it would be rebranding its sportsbook operations from BetAmerica to the TwinSpires, the company was approved by the Sports Wagering Committee of the Tennessee Education Lottery to operate in the Volunteer State.

David Smith, director of communications for the Tennessee Education Lottery, confirmed Jan. 8 that multiple reports of the approval are accurate. [Churchill Downs] CDI will be the fifth sportsbook operator in Tennessee…

Industry Profile: Rivers Sportsbook Manager & Horseplayer Hal Wafer

This weekend, the action at Rivers Sportsbook is about to get hotter with one of the busiest three-day stretches of big-time football games of the year — six NFL Wild Card playoff games over the next two days, including the Buffalo Bills’ first home postseason game since 1996, followed by the College Football Playoff championship game Monday night between Ohio State and Alabama.

Rivers Casino and Resort reopened in early September — just in time for the start of the NFL season — following months of shutdown due to the novel coronavirus pandemic, and the sportsbook has been busy ever since.

Rivers Sportsbook is a luxury-styled sports lounge furnished with individual VIP club chairs and table seating, including five private booths with TV monitors – each accommodating up to six people and available to reserve. Currently COVID restrictions apply.

Though capacity in the casino is limited to 25 percent of maximum, sportsbook manager Hal Wafer — nicknamed “Harborside Hal” — said the public was enthusiastic about getting back to betting on games at Rivers, one of only eight sites in the state where sports gambling is allowed.

“We’ve been busy right along, all year, since right after we came back from COVID,” Wafer said in a phone interview earlier this week. “Like we say, ‘football is king,’ and people were very excited and wanting to wager. They love wagering on football, so ever since [reopening], it’s been very busy.”

Sports betting front and center in Georgia legalized gambling debate

ATLANTA — Advocates for bringing legalized gambling to Georgia will be back under the Gold Dome next month, pitching the financial benefits of casinos, horse racing and sports betting together and separately.

But legislation authorizing online sports betting in the Peach State may have the best odds to advance.

“It’s the easiest one to pass,” said Georgia Rep. Ron Stephens, R-Savannah, chairman of the House Economic Development & Tourism Committee. “It clearly does not require a constitutional amendment. … It’s just a matter of us giving the [Georgia] Lottery Commission direction and authority they already have.”

Efforts going back the better part of a decade to legalize casino gambling and pari-mutuel betting on horse racing in Georgia have been unable to muster the two-thirds majorities in the state House and Senate required to approve constitutional amendments and put them on the statewide ballot…

Pro Gamblers Accuse William Hill Of Cheating On In-Game Bets

William Hill US has been accused by at least two prominent sports bettors of intentionally delaying the acceptance of in-game wagers in the Silver State, depending on if the wager is good or bad for the book. In other words, they’re saying it’s allegedly not a technology shortcoming, but a deliberate attempt by the book to boost its winning percentage against gamblers.

But some in the industry say the problem is the result of an unintentional bias in a less than ideal product, with it possibly impacting bettors evenly. Most people do agree there is an issue.

In a statement to Sports Handle, William Hill flatly denied the claims, and indicated it may seek legal action against one of the accusers.

Prominent sports bettors Bill Krackomberger and Rufus Peabody, who both …

Indianapolis Colts Partner with Caesars Entertainment and William Hill to Sign First NFL Team Sponsorship

“In the digital age, and particularly this virtual world in which we find ourselves now, finding new ways to engage with our fans, partners and community is one of our top priorities,” said Roger VanDerSnick, Colts Chief Sales & Marketing Officer. “This partnership with Caesars Entertainment and William Hill will help us better connect with Colts fans everywhere as we navigate this very unique season in 2020 and offer a greater fan experience well into the future.”

As part of the agreement, Caesars Rewards, the largest customer loyalty program in the industry, will sponsor a free-to-play “Pick 6 Predictor” game on the Colts Mobile App. The Pick 6 Predictor generates a series of questions, that fans predict the outcome of, before the upcoming games. Correct picks are rewarded with weekly prizes, and all participants are entered into a chance to win a trip to Las Vegas to stay at a Caesars Entertainment property