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MMA Wagering UnderGround >> IN-PROGRESS BETTING


2/16/06 11:40 AM
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Oddessa
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Edited: 16-Feb-06
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JoeyOddessa.com
 

By ARNE K. LANG Posted: Wednesday, February 15th 2006

The Palms Race and Sports Book in Las Vegas will shortly announce the launching of Rapid Bet Live. Race and Sports Director Richie Baccellieri is chomping at the bit. In his mind, interactive in-game wagering is the tonic that will invigorate a droopy Las Vegas sports betting industry.

LAS VEGAS - Developed by a company called Progressive Gaming International, Rapid Bet Live allows one to wager on events inside an event. As an example, one might wager on whether an offensive drive in football results in a score, a punt, or some other outcome.

The proposition can be continually refreshed. Needless to say, the odds on each variable are adjusted as the team possessing the football advances closer to the goal line.

Rapid Bet Live is played on a computer terminal. Before beginning, one must deposit money into an account. The bettor is assigned a user name and password to access the system and locks in a bet simply by touching a box on the screen.

The Palms is in the process of installing 12 Rapid Bet wagering terminals. Six 26-inch flat screen televisions are interspersed among the terminals. A separate kiosk, set apart from the cluster, will be used to demonstrate the product and will function as an express window for anyone who wants to make a fast wager on a specific proposition.

A progenitor of Rapid Bet Live is a product called SportXction. Several years ago, many Las Vegas sports books experimented with SportXction. However, the experiment was short-lived.

Baccellieri describes Rapid Bet Live as a more relaxed version of SportXction. New propositions appear on the screen during lulls in the action or upon the outcomes of antecedent propositions. For example, a player may have the opportunity to wager on which basketball team is the first to score 20 points. Once that plateau has been reached, odds may be posted on which team is the first to score 35 points.

Rapid Bet Live at the Palms will be heavily weighted toward three-pronged propositions. Whenever a basketball player is awarded two free throws, bettors will be able to wager whether he converts both, one, or none at all. In baseball, a specific pitch may be configured to three outcomes. The likely alternatives are a ball, a called strike, and "other."

In Rapid Bet Live, the house has a higher "vig." However, that's no assurance that the house will come out ahead. This is virgin territory for Baccellieri and his consultants. Playing with an imaginary bankroll, this reporter showed a profit in a recent "test drive."

Intra-game proposition wagering is not this reporter's cup of tea, but Rapid Bet Live may be ripe for the new millennium. Michael "Roxy" Roxborough, one of the world's foremost authorities on sports betting, notes that "in progress" betting has made huge inroads on the Internet. In sports such as soccer and cricket, there is often more betting after the game starts than before.

Folks coming out of college today grew up with home video games structurally similar to Rapid Bet Live. The Super Mario Brothers game that birthed the Nintendo craze was introduced in 1985. If Mario and his brother Luigi were real people, the year 2006 would mark the first year they could legally gamble in Nevada.

The Palms is pitched to a hip, young crowd. The developers of Rapid Bet Live chose the Palms for the Beta test for precisely this reason. Young adults are more receptive to newfangled technologies.

Although the Palms is prohibited from dealing the NBA because the owners also own the Sacramento Kings, Baccellieri has a full plate. The Palms offers overnight basketball lines and will post odds on all of the NCAA postseason games, including league tournament games involving teams foreign to the Las Vegas wagering boards.

Considering all his distractions, it will be interesting to see how Baccellieri holds up if the labor-intensive Rapid Bet Live proves to be popular. Perhaps that will be fodder for another column

2/16/06 12:50 PM
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electricApe
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Edited: 16-Feb-06
Member Since: 04/20/2005
Posts: 22
I have often dreamed that someone would offer this style of in-progress betting for boxing (or mma for that matter). If you have been a long-time observer of combat sports, you pick up a ton of information during the ring entrances alone. When a guy is tight you can see it in his face and in the way that he moves. And, thirty seconds into the fight, forget it: a seasoned observer/handicapper will have picked up enough information to significantly shift his line in a lot of instances. I guess no book would offer this unless they had a really sharp guy manning the trigger. Even then, I would love to take on the challenge of this kind of second-by-second handicapping so long as the vig was reasonable.
2/16/06 1:01 PM
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Oddessa
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Edited: 16-Feb-06
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JoeyOddessa.com

Its coming.  Thats why I posted the article. I have a meeting to discuss it  in a couple hours.

I ran trial run w/ a program I had written for me a bout a year and half ago.  I naturally didnt want to offer it w/o the right compensation for the time, money , and work  I have also been sitting on NCAA Wrestling Dual Meet Point spreads and other related  projects.

 Its always tough b/c you offer the new stuff after doing all the work and investing all the time and money and then weeks later, everyone is copying your work and offering it. Thats why you gotta have a solid deal in place before you let the planet catch on and trying to improve their company with your product. Hopefully I will get that accomplished today.

I will keep you posted.

2/16/06 1:45 PM
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FightingMajor
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Edited: 16-Feb-06 01:44 PM
Member Since: 11/23/2002
Posts: 3684
Maybe I can bet horse racing before they hit the halfway point. LOL. That would be cool. This is innovative stuff Joey. Good work.
2/16/06 2:08 PM
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Oddessa
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Edited: 16-Feb-06
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JoeyOddessa.com

Maybe I can bet horse racing before they hit the halfway point

 

LOL. Somehow I'd  still find away to lose. Everytime I've had a head start.........past post etc.......I always found a way to blow it. I recall having a 14-0 lead getting +14.5 in Wakeforest Football game back in early 90's when I was a young buck thinking I was the next Gotti.  It was a time change and the  local drunk bookie gave me the line.  I lost 35-14...............  I teased  it too +20.5. I got what I deserved for being a cheat. :-(  

 Live and learn.

2/16/06 2:10 PM
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electricApe
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Edited: 16-Feb-06
Member Since: 04/20/2005
Posts: 23
Thanks, Joey. Like everyone on here, I really appreciate everything you do for combat sports handicapping and the time you take to educate us. And I understand your frustration: it sucks to have the guts to pioneer something only to watch a bunch of unimaginative fucks just go and steal it. One question: will the betting limits on this service be tiny? If so, then yeah I guess you could automate everything and then anyone could try to copy your software. But if the limits are higher, then this doesn't seem like the kind of service that just anyone could steal. With high limits, if a book didn't have a really experienced guy moving the lines then they would expose themselves to a ton of risk.
2/16/06 6:35 PM
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Oddessa
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Edited: 16-Feb-06
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JoeyOddessa.com

Good news.  Lookin at starting  IN PROGRESS next week with Vargas - Mosely.  

Electape-I will drop  back in later and answer in detail. I'm runnin so way behind and need to get some things out b4 evening.

2/17/06 6:19 PM
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Oddessa
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Edited: 17-Feb-06
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JoeyOddessa.com

will the betting limits on this service be tiny?

I imagine $500 limits.  It will be runing  at Sportsbook.com next week  if all goes as planned.

It will be hard for shops to clone in progress numbers bc theres only 1  min btwn rds to get the bets in. It would be torture to try and keep up with another shops In Progress.

2/23/06 11:41 AM
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New World Samurai
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Edited: 23-Feb-06
Member Since: 01/01/2001
Posts: 5171
"It would be torture to try and keep up with another shops In Progress." Unless they simply scraped your screen for the odds. You can't copyright odds. But then they'd incur the potential for catastrophic failure associated with anything unsupervised like that. They'd open themselves up to huge risk. If I'm not mistaken, TradeSports has had "in progress" betting for a long long time. http://www.tradesports.com
2/25/06 10:25 PM
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Oddessa
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Edited: 25-Feb-06
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Posts: 5335
JoeyOddessa.com
Sportsbook.com has it 2nite for the Vargas/Mosely  fight.

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