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CG Technology's 10-year contract to run the sportsbook at M Resort expired March 1. William. (Todd Prince/Las Vegas Review-Journal). MĀ ...
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CG Technology's 10-year contract to run the sportsbook at M Resort expired March 1. William. (Todd Prince/Las Vegas Review-Journal). MĀ ...
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LAS VEGAS ā For decades, sports bettors in this city have queued up at sports book windows and handed over cash in exchange for paper tickets formalizing their bets.But on a recent Sunday in click here sports book at the M Resort in nearby Henderson, gamblers seeking action on professional and college football games were engaging in a much different ritual: betting through hand-held devices no larger than a smartphone.
The technology, part of a new system froma subsidiary of the financial services firm Cantor Fitzgerald, lets gamblers place bets on certain las umsatz vegas casino events like football or baseball, tennis matches and horse races from anywhere in the casino and play other games like blackjack and baccarat.
Gamblers can also for the first time wager on the outcomes of events as the events transpire.
When a football team lines up for a field goal, for example, bettors can bet on whether the kicker will make it or miss.
Advertisement Not surprisingly, casino operators like it.
They are always trying to make their books more profitable.
Marnell III, chief executive of the M Resort.
Credit Laura Rauch for The New York Times To wager, bettors still fork over cash to human ticket writers in the sports book, but those workers simply convert the money into electronic credits, which are stored in a triple-encrypted database hosted on backroom servers.
At the M Resort, gamblers have two options to use these credits: they can sit in front of touch-screen article source in the sports book that resemble airline check-in kiosks, or they can check out location-aware wireless hand-helds, called eDecks.
These devices then connect to the casino servers over a secured wireless Internet connection.
The eDecks resemble chubby iPhones, and can be taken almost anywhere in the casino ā into the lounges and restaurants, for example.
Bettors, however, cannot use them or any other devices while playing table games.
At the sports books at the Venetian and the Palazzo on the Strip, eDecks are the only option, and have been rebranded as PocketCasino.
In both introductions, the portable devices offer standard sports bets and are already loaded with software that allows supplemental wagering in the form of blackjack and baccarat games.
The games include basic wagers, as well as propositional bets that dynamically calculate odds based on the cards dealt.
The betting during events option is called in-running betting, and Lee Amaitis, chief executive of Cantor Gaming, says oddsmakers have dreamed of this for decades but have lacked the number-crunching resources to hang lines at game speed.
Advertisement To solve this problem, Cantor Gaming sets its link lines based upon algorithms from the financial services world.
Amaitis says these algorithms are variations of those created by a sister company,a financial company in London that offers bets on various markets including equities, indices, bonds and commodities.
Photo Tracy Vale, right, placed a wager last week m casino las vegas sports book a Monday Night Football game, with David Ehrlich at the Palazzo Las Vegas.
First was the issue of security.
The company requires all eDeck users to obtain a plastic card embedded with a Radio Frequency Identification chip.
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Tara said another security precaution was to protect all monetary transactions by relegating them to back-end servers.
A second challenge for Cantor Gaming has been persuading old-school sports bettors to embrace the new approach.
Mark Goldman, director of race and sports for the Venetian and Palazzo Las Vegas, said his sports books were licensing 200 eDecks.
Older gamblers have been slow to adopt them, he said, but younger bettors have shown interest.
The overall betting has increased since October.
A version of this article appears in print on December 28, 2009, on Page B1 of the New York edition with the headline: In Las Vegas, Sports Books In a Pocket.
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