On July 23rd, 2008, Cantor Gaming of Las Vegas wants to make betting on hand held devices a reality by next year, modifying a part of the Nevada gambling industry that has been slow to use the new technology. Over the past years, Nevada bookmakers have used live wagering, kiosks and other technological advance. But for most part, Las Vegas players have preferred wagering on sports on the usual way-on games and queue that they are used to before the game starts.
Cantor has managed online gaming and bookmaking operations for more than 7 years in Britain, where live wagering on sports lords over sports book profits in Nevada. Local sports books are small margin, volume driven gaming operations-bookmakers are top class experts in hedging, or scaling down risk by putting up lines to balance action on both parts of the wager, and a small priority for casino establishments, which focus more on profitable casino games.
Cantor's expertise in live wagering attracted the developers of the M Resort, which is being constructed at St. Rose Parkway and Las Vegas Boulevard, that they finalized an agreement for the company to manage their sports book. M Resort officials had not expected giving their sports book to a third party to manage until they see how live sports wagering could be done on mobile devices.
Cantor will share profits with the M Resort rather pay a fix fee, which is how a lot of third party sports books are managed. Unlike Leroy's, which usually manages sports book for smaller casino establishments that do not want to pay any overhead or encounter unnecessary risk. Cantor Gaming hopes to manage sports books for bigger casinos that now manage their own sports books.
It is a bold setup that M Resort Chief Operating Officer Joe Magliarditi expects that customers will thoroughly enjoy the set up because they can wager at their own convenience even if they are in a different part of the casino and not specifically on the gambling area. There is no law in Nevada that does not allow on real time wagering on sports, although previous versions of the technology have not caught the imagination of casinos and the public.
Cantor supported a proposal through Nevada's legislature in 2005 to permit mobile gambling devices and collaborate with regulators to make rules for mobile gaming. Nevada regulators have yet to approve a sports wagering system from Cantor.
August 04, 2008