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Bellagio Sports Book Closes for 1 Hour to Get More Money to Pay People

Discussion in 'The Sports Book' started by DeMoN2318, Nov 18, 2015.

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  1. DeMoN2318

    DeMoN2318 The DERS

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    "According to UFC president Dana White, the sports book at the Bellagio Casino in Vegas had to shut down for an hour after the fight because they didn’t have enough money to pay the people that bet on Holly Holm"

    http://uproxx.com/sports/2015/11/ronda-rousey-holly-holm-post-fight-news-wrap-up/2/



    Was anyone there who can confirm this? Seems unlikely to me...



    I wonder if Dana bet on Holly to win? and he was pissed he had to wait for his payday....
     
  2. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    Wasn't there, so I cannot say for sure, but I am very skeptical of this claim. I cannot imagine a major book would close for an hour on a Saturday (I assume) during football season to get more money to pay tickets. Plus, the money comes to them. Its not like they send out ticket writers to get some from the main cage, lol
     
  3. captainron62

    captainron62 VIP Whale

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    Dana stated this on Sunday morning as the was flying back from Australia. He was speaking to Joe Rogan, the entire convo was uploaded to JRE podcast. Dana qualified it with "I heard". He also said he "heard" a lot of guys parlayed football games into the UFC main event and cracked the books good. I did read today where a Sportsbook manager said it was the worst beat they had taken since Pac beat Oscar. Some books said it was 3x as bad. Odds were as good as 11 to 1 and down to 5 to 1 before the fight. A lot of money came in on Holly after the weigh in. The MMA sharps usually bet after the weigh in and always move the line.
     
  4. 44inarow

    44inarow VIP Whale

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    Putting aside his business practices and general management of the organization, Dana White is quite often full of shit.
     
  5. dutchvelvet

    dutchvelvet VIP Whale

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    I believe entirely the B took a beating but don't believe for a second they had to close for running out of money

    And I'm sure they made back the beat and then some on how the nfl week played out
     
  6. VegasDave

    VegasDave Addicted

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    This. The way a lot of the games went this week, many people got taken for cash.
     
  7. Someone

    Someone High-Roller

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    wouldn't a lot of the winners have taken a check and not cash?

    also if you are winning into the 5 figures you are going to be losing 25% to 33% to uncle sam right off the top and that is 25% to 33% that the book does not have to pay out right at the time the ticket is claimed as well

    I would think between those taking winnings in a check and the fact that a decent sized portion of winnings is not being paid out upon redemption, but instead held back to be sent to the IRS a bit later the book would have had enough cash to cover it

    also of all the books I would think the Bellagio would be one of the ones least likely to run short unless they had a whole lot of cash on hand and had sent some to the bank at just the wrong time
     
  8. captainron62

    captainron62 VIP Whale

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    5 figure wins are pretty rare on the MMA side. Its not yet like NFL where you have a bunch of sharps laying big dollars down. Its also highly volatile and the odds are usually close to the point that its just not worth the risk. I have only heard of one big win. The guy who won a million on the Royals bet 20K on Holly and won $240,000. It would mostly like be death by 1000 needles, a bunch of hits for a $100 here and $1000 here. I think this was just Dana being Dana and the promoter side of him exaggerating, but who knows. The guy is def in tune with LV and a big gambler in his own right.
     
  9. captainron62

    captainron62 VIP Whale

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  10. Joe Strummer

    Joe Strummer VIP Whale

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    Somebody ask Danny Ocean !
     
  11. shifter

    shifter Degenerate Gambler

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    There's no withholding unless you refuse to provide your SSN.
     
  12. redzone

    redzone Low-Roller

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    Or you are a foreigner without a tax exempt. EG Canadian.
     
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