Source: DraftKings, MLB Partnering On Groundbreaking Sports Betting App

A major collaboration between Major League Baseball (MLB) and DraftKings, the leading Daily Fantasy Sports (DFS) operator, will be a part of a series of major announcements at next week’s Global Gaming Expo (G2E) convention in Las Vegas, Sports Handle has learned.

A source with knowledge of the negotiations says DraftKings will announce plans for a new, comprehensive sports wagering app that will include the ability to stream MLB games. The source says that, at first, the app would only have DFS play options available, but would soon allow full-fledged, single-game betting as well — in legal, regulated markets such as New Jersey, where the DraftKings Sportsbook was first to market in August with its online sportsbook and mobile apps.

Neither DraftKings nor MLB was available late Friday to comment on the move that would create a groundbreaking synergy between a major sports league and a sports wagering outlet.

West Virginia Sports Betting Rules Ignore Pro Leagues’ Intimidation Tactics

 

The West Virginia Lottery Commission on Wednesday approved final rules governing sports wagering, rejecting written comments from several professional sports leagues, reports Jeff Jenkins of West Virginia MetroNews. The comments on the emergency regulations, submitted on behalf of the National Basketball Association, Major League Baseball and the PGA Tour, requested among other things that the Lottery require state-licensed sportsbooks to use “official league data” for purposes of grading wagers.

The emergency regulations allowed licensed casinos to begin taking wagers, while leaving the regulations open for additional comment before becoming permanent.

“Sports pool operators shall use only official league data to determine the result of ‘tier two’ sports wagers, provided that the data is available from governing bodies or a data sub-licenser based on commercially-reasonable terms,” wrote high-powered lobbyist Jeremy Kudon of the law firm Orrick, on behalf of the three sports leagues in an Aug. 30 letter obtained by MetroNews.

 

WORLD SERIES ODDS

2018 World Series Odds

We take a quick break from the pigskin to go through the 2018 MLB World Series odds.

Following a loss to the Los Angeles Dodgers on Monday, the Colorado Rockies are forced to play in a Wild Card matchup against the Chicago Cubs. Tomorrow, the New York Yankees (who boast the third best record in baseball) are forced to play against the Oakland Athletics. After that, the playoffs are a mystery, although the Boston Red Sox certainly seem to be in good shape.

World Series odds

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Veteran Oddsmaker Explains ‘Integrity Monitoring’ From Sportsbook Perspective

The post Veteran Oddsmaker Explains ‘Integrity Monitoring’ From Sportsbook Perspective appeared first on SportsHandle.

This is the second of a two-part series seeking to answer, “So What the Heck Is ‘Integrity Monitoring’, Anyway?” (Read Part I here.)

Even before the United States Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) in May, the NBA and Major League Baseball began lobbying state legislatures for funds to finance “integrity monitoring” measures. Part of the leagues’ claim is that expanded legal wagering will create new, greater obligations for sports leagues. 

But what exactly is “integrity monitoring,” and how are bookmakers perceiving the leagues’ efforts to garner an “integrity fee?” In the first installment of this series, we spoke to Jennifer Roberts, Associate Director of the International Center for Gaming Regulation, a gaming lawyer and adjunct professor at University of Nevada Las Vegas, who teaches such courses as fundamentals of casino operations management.

Here, to get the behind-the-counter perspective, we spoke to Robert Walker, who heads up sportsbook operations for USBookmaking. Walker’s resume also includes nearly 12 years as the director of race and sportsbook operations for MGM Mirage in Las Vegas, and before that served as the race and sportsbook manager for The Stardust.

 

Read more Veteran Oddsmaker Explains ‘Integrity Monitoring’ From Sportsbook Perspective on SportsHandle.

Indiana Signs on With Market Analysis Firm to Study Sports Betting

The post Indiana Signs on With Market Analysis Firm to Study Sports Betting appeared first on SportsHandle.

Indiana lawmakers were unable to legalize sports betting during the legislative session earlier this year, but that doesn’t mean the state is doing nothing since the session ended.

According to a report from The Statehouse File, the Indiana Gaming Commission in July signed a two-year deal with the market analysis firm Eilers & Krejcik Gaming LLC. Indiana regulators learned of the company through their counterparts in West Virginia, which passed a bill legalizing sports wagering in March.

Indiana will pay Eilers & Krejcik nearly $75,000, according to the report, to conduct multiple studies related to sports wagering with the goal of providing legislators with financial and policy information needed to make any proposed legislation meaningful. Though the contract is for 24 months, though the company expects to provide some data to lawmakers as early as this fall.

Indiana Was a First Mover in Terms of Pushing Sports Betting Legislation, But Didn’t Get a Bill Passed Before the 2018 Session Ended.

Indiana was among the first states to start to begin exploring sports betting during the 2018 legislative session. In fact, Representative Alan Morrison (R-District 42) announced in January that he would introduce sports betting legislation during the session. He did so, as did senator Jon Ford, but both bills died in committee.

Sportsbooks-Sports-Wagering-Betting

Of note is that Morrison’s bill, which was introduced in early January, included the “integrity fee” that the major professional leagues favor. Indiana was the first state to use such language and the idea of paying the pro leagues a cut of sports betting revenue has evolved into a contentious issue across the U.S.

The six states that have either legalized or rolled out sports betting (several states did not need new laws passed) have declined to pay the leagues. In addition, several states lambasted the pro leagues and the idea of the integrity fee, or royalty, as the leagues are now referring to it, earlier this year. So far, the only state in which lawmakers appear to be actively considering a royalty is New York.

Indiana is home to about 14 casinos — mostly riverboats with land-based properties plus one Native American casino in South Bend. Indiana’s legislature goes back in session Jan. 14.

The post Indiana Signs on With Market Analysis Firm to Study Sports Betting appeared first on SportsHandle.

Meet @Berryhorse, A Compelling New Voice in Sports Betting Modeling

The post Meet @Berryhorse, A Compelling New Voice in Sports Betting Modeling And Information appeared first on SportsHandle.

I first became aware of @Berryhorse when a few friends alerted me to his Twitter page. He’s gained quite a following thanks to his willingness to share his Major League Baseball betting model in an open Google spreadsheet, plus he provides insight into the model and his picks. Given his success this season, his profile on Twitter and Reddit has steadily grown.

According to his tracking, Berryhorse – whose real name is Kierian – is 166-138 (54.5%) on the season , +524.2 units and +22.45% ROI. (Note: We did not contemporaneously track or verify these MLB wagers/positions, but there is no shortage of followers who can attest to his success and are willing to make donations, which he has declined to accept and instead has referred them to charities.)

Berryhorse’s relatively new Twitter account has grown to nearly 8,500 followers. He updates his followers with his daily wagers and new information.  We caught up with Berryhorse and he explained his background, his thinking and intentions with the model, and what’s to come for football season. But first, here’s a thread that he wants every follower to read. 

https://twitter.com/berryhorse29/status/1013222920791810048

Sports Handle (SH): To start, will you tell us a bit about your background?

Berryhorse (BH): I’ve been playing sports and watching sports for essentially my whole life. Basketball, football, golf, baseball and more. At the same time I’ve also always been a huge science and math nerd. I got into computer science my senior year of high school and majored in Computer Engineering and Computer Science in college. While at school I worked for an NBA analytics company, which was my introduction to machine learning and data science. Learning about this in the context of sports was awesome and eventually it became clear to me that it was possible to build predictive models to beat the sports betting markets.

Like most people I enjoy sports betting because of the money I earn, but by far my favorite part about it is that it quenches my thirst for competition. I love competing and winning and really enjoy that element of sports betting more than any other. I also love how it’s such a pure meritocracy. If you’re a winner, you’re a winner.

Over the long run you can put your money where your mouth is and prove your edge over the market. Of course the industry is full of scams and gimmicks but success in the actual betting market is purely based on merit. My favorite sport to bet on is baseball – highest volume of games, and when betting money lines the team’s incentives are always aligned with you as a bettor, unlike spread betting.

SH: Can you explain how the MLB model works?

BH: First, I have to give a lot of credit to Joe Peta, the author of “Trading Bases.” Much of how the model works is based on his principles. As simply as possible, the model prices each team against one another by projecting how good each team is at run production and run prevention.

There is no simulation of pitches or at bats or innings, it just says “team A is this good and team B is this good.” Once it has that information it can calculate a probability of one team winning the game and compare it with the Vegas line. When there’s a large disagreement between the two, it’s probably worth betting.

SH: How big a factor is the starting pitcher within the equation for each game?

BH: Starting pitchers matter as much as the specific starting pitcher matters. The run prevention number for the team obviously relies heavily on the starter and this is accounted for. Basically it calculates the RA number for the team if that starter pitched every game for them.

SH: What’s the most memorable cover you’ve had this baseball season? Wild ending, walk-off, or otherwise?

BH: The most memorable cover was the White Sox beating Cincinnati in CIN a few weeks ago. Lucas Giolito got rocked for 4 or 5 runs in the first and after spoiling a bunch of chances in extras, CHW eventually won in 12 by a few runs (and covered the run line). Most memorable loss: recently Kris Davis hit a 2-run shot with 2 outs and 2 strikes to win by one. That hurt. The most painful/memorable loss is always the most recent.

mlb betting model berryhorse twitter reddit khris davis hr


SH: Why do you keep the spreadsheet open? Are you interested in the conversation/discussion?

BH: I’m sharing all of this for a few reasons:

#1 and most importantly is I think my process of betting can be helpful for people and encourage them to think more analytically and reject some flawed ideas/myths in sports betting.

#2 I think I can help people win money.

#3 least important, and selfishly, I think it’s a good idea to build a reputation in sports because a lot of my long-term goals are in this space.

SH: What do you have in store for football season? Expect to focus on NFL or CFB or both?

BH: Football: I have models for both college football and NFL but I do not currently plan on making either public. I will share as much as I possibly can though.

(Note: In June, Kieran and his college roommate Jerry launched the podcast “Sports Thoughts” in iTunes (some words about the football model in Episode 7.)

SH: What’s the biggest lesson or takeaway, mathematical or otherwise, you’ve learned from the MLB season wagering?

BH: Biggest takeaway: Really the biggest takeaway is just simply the legitimacy of this model. I was expecting it to do well, but was not at all confident we’d see any season like I’ve enjoyed thus far.

SH: Can you offer some advice for beginners?

BH: I think one common mistake of beginners is not understanding the uncertainty of sporting events. In general, novice bettors are far too confident in their opinions and need to understand that sports are inherently very random and volatile. Typically this means new bettors skew towards betting a disproportionate amount of favorites.

Beginners should also be calculated with their risk allocation and bankroll management. There should be some element of betting more when they are more confident but still the maximum amount they bet should be a small portion of their overall bankroll. It is crucial to preserve and protect the sanctity of future earnings by never risking too much of their bankroll.

The post Meet @Berryhorse, A Compelling New Voice in Sports Betting Modeling And Information appeared first on SportsHandle.