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Success With Price Per Head (Small Sportsbook Success)

2005-06-22T07:51:00.000-07:00

Case Study in Small Sportsbook Success via Use of Price Per Head (PPH) Software Written and Owned by V.O. Group, S.A., the most successful offshore sportsbook in Costa Rica.

Price Per Head vs. Small Sportsbook Operation

Featuring Dalton Wagner, Founder V.O. Group, S.A.

As Founder and Proprietor of V.O. Group, S.A., Dalton Wagner has the reputation of being the most innovative operator in offshore gaming. His most recent innovation has allowed small sportsbooks to outsource their complete operation to V.O. Group, S.A. while focusing completely on marketing. With formidable competition, Mr. Wagner founded V.O. Group, S.A. in 1998. While most companies formed that late failed, V.O. Group, S.A. has become one of the top 10 operators offshore (as measured by AnteUp; Gambling Online Magazine; Poker Player Magazine; and Many other Publications).

Playing Poker Online Magazine: Recently we have been told that V.O. Group, S.A. is now allowing small sportsbook operations to outsource the complete writing of their business to your organization. How is this possible?
Wagner: The situation you speak about is 100% true. However, has only happened one time in our history.

Playing Poker Online Magazine: Can you be more specific?
Wagner: When an offshore sportsbook starts, in 99% of all cases it will fail in the first 24 months of operations given the current market conditions. Examples are everywhere from The Dunes, Platinum, Super Sports Book, etc. It happens every single year. In the past, large sportsbooks like MVP Sportsbook or V-Wager.com would swoop in and try to save the books via financial help or simply buy them at a low price. Well, V.O. Group, S.A. now offers another more innovative solution.

Playing Poker Online Magazine: OK. You’ve got me, explain!
Wagner: We write business for onshore bookmakers and agents charging them a simple price per head per week. This price takes into consideration our considerable economies of scale and a small profit margin. In the case you are speaking of, instead of buying the sportsbook for a low cost that basically sent the owners home broken hearted and with empty pockets, we cut them a deal where they could focus on marketing and leverage off of our economies of scale. Simply put, we took over writing their business for them, and they now focus their limited resources on marketing 100% of the time.

Playing Poker Online Magazine: That sounds like snake oil. How exactly would that work?
Wagner: We don’t sell snake oil. The facts speak for themselves. When V.O. Group, S.A. opened it’s doors in 1998 the market was different. You could recruit players, write their business, and make a profit in years one, two and three. With the current market conditions, there is NO WAY a start up credit or post-up book can be profitable in year one, two or three without 2,000 head a week in business. That is the theoretical breakeven point. If you are writing less than 2,000 head a week, you can double or triple your net earn by letting V.O. Group, S.A. write your business.

Playing Poker Online Magazine: OK. That makes sense because in 1998 and 1999, it was cheaper to find a new client. Is that where the difference in earnings comes from?
Wagner: The fact is yes, that is where the difference is. But, that is not our selling point. Our selling point is that if you stop worrying about writing business and let us do it, you can focus on marketing – which is the key to the success of an online sportsbook. And, that is the simple fact for credit bookmaking, post-up bookmaking and future success in this industry. As long as you think ‘beating the clients’ is the key, you are limiting your business. Let our company worry about that – and, you find clients. Spend your time finding clients and you will make money.

Playing Poker Online Magazine: The theory is sound, but what about the facts?
Wagner: The owners of the sports operation in question do not want me to be specific about whom they are. But, let me simply say that when we took over their operations, they could not even make the post-up money good. Now they have $1.4 million in the bank. So, yes, the facts do follow the theory.

Playing Poker Online Magazine: Wow! That is incredible. Can any poker room, casino, racebook or sports book do this with V.O. Group, S.A.
Wagner: Yes. We have programs for all online products except for bingo. And, by 2006 we should be able to offer options for even bingo operators..

Playing Poker Online Magazine: So how does a bookmaker or current operation learn more about outsourcing their operations to V.O. Group, S.A.?
Wagner: Simply go to any of the V.O. Group, S.A. sites to learn more. I suggest starting at www.BettorsNet.com or calling 1-877-512-1001 or emailing agents@bettorsnet.com to get more information.

Article Note: The situation in this Case Study is a true case, however may not be representative of your situation. All situations are different and therefore may result differently.

Success With Price Per Head (Agent Success)

2005-06-20T08:32:00.000-07:00

Case Study in Agent Success via Use of Price Per Head (PPH) Software Written and Owned by V.O. Group, S.A., the most successful offshore sportsbook in Costa Rica.

Price Per Head vs. Dollywood Sportsbook

Featuring Dalton Wagner, Founder V.O. Group, S.A.

As Founder and Proprietor of V.O. Group, S.A., Dalton Wagner has the reputation of being the most innovative operator in offshore gaming. His most recent innovation involves the direct attack upon the Onshore Bookmaking market via the unique value proposition of actually partnering with Bookmakers and Agents onshore (as opposed to attempting to steal their business). With formidable competition, Mr. Wagner founded V.O. Group, S.A. in 1998. While most companies formed that late failed, V.O. Group, S.A. has become one of the top 10 operators offshore (as measured by AnteUp; Gambling Online Magazine; Poker Player Magazine; and Many other Publications).

Online Gambling: The ‘buzz’ in offshore gambling appears to be focusing on only two subjects as of late, including: Poker and Your Price Per Head Offering. What exactly is Price Per Head and Price Per Head Agency?
Wagner: As you know, one market that a post-up sportsbook has historically been unable to attack is the huge market of bettors that have been betting with their local guy for years (local guy = agent or corner bookie). The reason this market exists is the personal relationship that an onshore bookie or agent has with his clients. Sportsbooks have attempted to educate the player and lure him away from the local bookie, however V.O. Group, S.A. has decided to take another tact. Via our Price Per Head software written by Matthew Wilson, we have been able to PARTNER with onshore bookies or agents with our Price Per Head Agency Relationship.

Online Gambling: OK. Be more specific. How does a Price Per Head Agency Relationship Work?
Wagner: Price Per Head Agency is based on the very fair and equitable agreement between an onshore bookie and an offshore bookmaker. The deal is based on the onshore bookie recruiting players and the offshore bookmaker setting lines, writing the business and handling all accounting for the onshore bookie. And, all the onshore bookie does is simply pay the offshore bookmaker an agreed upon price per head per week.

Online Gambling: So, opposed to paying the offshore bookmaker a percentage, they simply compensate them a fixed price.
Wagner: Absolutely. The fact is that offshore sportsbooks have been gouging the onshore bookie or agent for years. Our offering stops that action in it’s tracks.

Online Gambling: Gouging! That is a pretty strong comment. Can you back that up?
Wagner: Let me give you an example…and, you judge for yourself. The example of Jeff W. in San Jose, California comes to mind. Jeff contacted V.O. Group, S.A. in early October 2004 when he was writing 72 head of business making an average of 12 wagers a week of $152. Rather, his turnover per client was an average of $1,824.00 a week. Via his agreement with a sportsbook we will call Dollywood, he was splitting his earnings 50/50. Once he shifted the business through BettorsNet.com, he was paying $30 a head a week. So, would you call this gouging?

Online Gambling: Actually, the numbers sound good. But, I have to admit, I am not sure. Can you help me understand better?
Wagner: That is very good answer. Let me simply do the math for you to illustrate the facts, and then you will have a much clearer set of information to deal with. If your average player bets $1,824.00 a week on just straight bets, you should have a minimum hold of 4.5% (parlays, teasers and props have a MUCH HIGHER HOLD). So, that means you should make $82.08/person ($1,824.00 x 0.045). Then, multiply this by the number of head equals a theoretical earn of $5,909.76 ($82.08 x 72). So, this means he would make $2,954.88 per week and Dollywood would make $2,954.88 per week.

Online Gambling: Well, $2,954.88 per week sounds pretty strong if you ask me How does this compare to his using BettorsNet.com?
Wagner: When Jeff started using BettorsNet.com, we simply charge him $30 a head a week. Rather, $30 times $72 is $2,160.00, representing a savings of $794.88 a week, or $41,333.76 a year.

Online Gambling: So, by Jeff W. switching to V.O. Group, S.A. or BettorsNet.com he was able to make an extra $41,333.76 a year?
Wagner: No. Actually, he made $25,000 in the first three months because most of his players are far worse than the theoretical averages. Almost every one of his players bet a proposition or a teaser or a parlay at least once a week. And, holds on those bets are far greater than 4.5%. On top of that, his players also play in our racebook and casino losing much, much more than 4.5%.

Online Gambling: Oh, I see. If he would have used Dollywood, he would have simply split more profit with them. But, via BettorsNet.com, he was able to keep 100% of the extra earn because he had already compensated you for the $30/head.
Wagner: That is exactly correct. Jeff W. came down in January 2005 and I took him sail fishing. It is the first time I ever had a client pay my bill. Why? Because, and realize I am quoting here, Jeff states that I will make him an extra $100,000 this year alone.

Online Gambling: Wow! That is incredible. I bet large credit sportsbooks, like Dollywood, are quickly becoming unfavorable of your new product.
Wagner: Yes. They hate our new software offering! But, that is what you get when you take advantage of your clients or partners as they have. And, as far as I am concerned, credit shops with Agent Split Agreements have simply NOT been treating their partners fairly and now they will pay the bill.

Online Gambling: I must say, I agree that if your numbers are even close to correct, it appears that the credit shops that split the earn ARE GOUGING AGENTS AND ONSHORE BOOKMAKERS.
Wagner: Well, the facts speak for themselves. And, I am glad you see the facts for what they are.

Online Gambling: Is there ever a case where an onshore bookie or agent should opt for a split as opposed to a Price Per Head Agency agreement?
Wagner: Absolutely Yes. If you are starting up a new book, or if you need financial backing because you are not strong enough to support a losing week - then, you should opt for a split. The best way to judge this is simply look over your figures for the last year. Could you afford to pay out the worst week you had without going broke? If you answer yes – then, you should opt for PPH. If you could NOT afford to pay it, then you should opt for a split or not be in business at all.

Online Gambling: So how does a bookmaker learn more about this?
Wagner: Simply go to any of the V.O. Group, S.A. sites to learn more. I suggest starting at www.BettorsNet.com or calling 1-877-512-1001 or emailing agents@bettorsnet.com to get more information.

Article Note: Any assumption that “Dollywood” is related to “Hollywood Sportsbook” or “BetHollywood.com” or “BetAtHollywood” or “Hollywood International” is the assumption of the reader and not the responsibility of Gambling Online Magazine.

Innovation In Bookmaking

2005-06-14T08:08:00.000-07:00

Q & A with
Dalton Wagner, Founder V.O. Group, S.A.

As Founder and Proprietor of V.O. Group, S.A., Dalton Wagner has the reputation of ferreting out new markets and attacking while other companies sit on their hindquarters and watch. One market that has always eluded offshore bookmakers is the ‘guy who likes dealing with his credit bookmaker’. Typically this market has been untouchable for the offshore bookmaker, but NOT for Dalton and V.O. Group, S.A. We had an opportunity to catch up with Dalton Wagner on his last visit to Panama.

Vegas Offshore: Tell us about this new product that you are calling your Price Per Head Agency Relationship.
Wagner: As you know, one market that a post-up sportsbook has historically been unable to attack is the huge market of bettors that have been betting with their local guy for years. The reason this market exists is the personal relationship that an onshore bookie has with his clients. Sportsbooks have attempted to educate the player and lure him away from the local bookie, however we have taken another tact. We have partnered with local bookies around the world to make their offering better and more valuable.

Vegas Offshore: So instead of attacking the local guy, you actually approach him with your offer?
Wagner: Exactly. The fact is that the relationship is the last thread holding clients to a local guy. Yes, there is the fact that the local guy extends credit, but with bonuses and promotions we can overcome that offering. The key is the relationship.

Vegas Offshore: I’m confused, please explain.
Wagner: As you know, the onshore bookmaking market has lost steam to the offshore providers like V.O. Group, S.A. The reason is that the offerings that I can provide are far superior to those that any onshore bookmaker can offer. The PPH concept is based on allowing the onshore bookmaker to provide his clients my offerings on a purely anonymous basis via an online automated tool. Rather, by signing up with my PPH service, an onshore bookmaker can compete with all offshore sportsbooks on equal footing offering 24-hour wagering, 365 days a year. All the bookmaker does is use an online system to assign PINs and PASSWORDs and pay me a small fee per week for the service.

Vegas Offshore: Wait a minute. So, this means that a small time operator in Cleveland, Ohio can offer all the same things that V.O. Group, S.A. does without making the multi-million dollar investment?
Wagner: Now your catching on. For as little as $25 per head per week, a guy in Ohio can compete with the biggest sportsbooks in the world. And, better yet, never answer another wagering phone call again.

Vegas Offshore: OK, I get it. They use your automated tool to drive their clients to your software online, and they simply pick up the figures at the end of the week.
Wagner: Exactly correct with one exception. Their clients can bet on the phone via our call center staffed with 250 people OR bet online. Again, they have access to all of the offerings V.O. Group, S.A. provides including call center access, client services and technical support.

Vegas Offshore: Is the PPH product only based on sports wagering?
Wagner: Very good question. The answer is no. We actually have the ability to offer clients two (2) casino products including blackjack, baccarat, slots, 3 card poker, roulette, etc. And, clients may also bet on horses at over 350 tracks worldwide.

Vegas Offshore: Wow! That truly is incredible. So, a bookie that has one client can compete with the likes of MVPsportsbook.com on equal footing?
Wagner: Exactly correct. But, there are two keys to the success of the product launch. The first is being able to compete head to head with the biggest sportsbooks in the world. But, arguably the most important factor is that since the onshore bookie no longer has to answer phones or track plays, he can spend all of his time picking up new clients, NOT writing bets.

Vegas Offshore: I remember that in a prior interview you had stated that the key is not winning, but finding more losers.
Wagner: An embarrassing quote, but true. Amateur bookmakers think that the key is to beat the clients you have. That is a huge mistake. The key to getting rich as a bookmaker is finding a new client every single day of the year. The numbers take care of themselves, the key is to get more and more people playing. That is the TRUE BEAUTY of the PPH software and agency relationship.

Vegas Offshore: Do you have any success stories to tell?
Wagner: I have many, but will tell you one that emphasizes what the PPH program can do. I have a bookmaker that has been working out of San Antonio, Texas for 10 years. The guy has historically made $200,000 a year from his 25 or 30 players. He was introduced to our product in July 2004, and today he is writing over 185 clients. The ability to outsource answering calls and writing tickets to us has allowed him to grow his business 600% and his revenue over 1000%.

Vegas Offshore: Why did his revenue grow more than his business? Is it because your lines are sharper than his?
Wagner: There you go again. That is the obvious mistake that everyone makes. Again, don’t worry about beating the clients. Worry about getting more clients to play. But, to answer your question directly, the ability for his clients to play in the casino, play 24 hours a day, play games/halves/quarters, props, etc. is where the extra revenue comes from. Our lines might be sharper, but the advantage is more clients betting more often.

Vegas Offshore: How many bookmakers do you currently work with?
Wagner: We are writing business for over 250 bookmakers now. Some represent groups as small as 2 or 3; and others represent groups as large as 500. Again, remember the key is finding as many clients as possible. If you get to where you are writing 15 clients or more, it is almost impossible to lose for an extended period of time.

Vegas Offshore: So how does a bookmaker learn more about this?
Wagner: Simply go to any of the V.O. Group, S.A. sites to learn more. I suggest starting at www.BettorsNet.com or calling 1-877-512-1001 or emailing agents@bettorsnet.com to get more information.

State of the Offshore Gaming Industry

2005-06-13T10:14:00.000-07:00

Q & A with
Dalton Wagner, Founder V.O. Group, S.A.

As Founder and Proprietor of V.O. Group, S.A., Dalton Wagner has the reputation of making one-dollar work like three in online marketing. With formidable competition, Mr. Wagner founded V.O. Group, S.A. in 1998 and has quickly risen to be one of the largest offshore operators in the world with over 50,000 active clients. We had an opportunity to catch up with Dalton Wagner on his last visit to Antigua.

Vegas Offshore: This year has been interesting for V.O. Group, S.A. and the offshore industry as a whole (advertising changes, etc.). How do you feel about the industry at the current time?
Wagner: I feel the industry is as strong as it has ever been. We are still finding that our advertising is bringing us new clients at an ever-growing rate. Some competitors are complaining that the crimp on advertising is affecting the industry, but we are not seeing this trend. Consolidation within the industry has begun, and I am sure you will continue to see smaller competitors gobbled up, and medium to larger companies merging. The weaker will go by the wayside.

Vegas Offshore: What about the rumors of V.O. Group, S.A. being bought?
Wagner: I am glad you used the term 'rumors'. The fact is that in July 2004 three suitors approached V.O. Group, S.A. because of our record-breaking profit year. In two of the cases we did see 'value' in a merger/relationship. However, at the end of the day, we could not come to terms that were agreeable on both sides. At this time V.O. Group, S.A. stands independent. And, we are happy being independent, profitable and growing.

Vegas Offshore: It is rumored that Bet On Sports (PLC; BSS.L) was one of the suitors. Is that true?
Wagner: There were three suitors that approached V.O. Group, S.A. And, in all cases confidentiality agreements were signed. For this reason, I cannot confirm or deny who any of the potential suitors were. What I can tell you is that one was a major sportsbook player, one was a major casino player and two were PLCs. I doubt that helps.

Vegas Offshore: Well, if Bet On Sports was involved, I bet you are happy you weren't involved in their November 24, 2004 stock debacle.
Wagner: The Bet On Sports stock debacle was an over-reaction by the market in my opinion. In one day you saw their stock drop 50% in value. And, the reason was poor performance in a very short period. If you looked at the other publicly held offshore gaming companies, you saw the same thing, just not as drastic as with BSS.L. Simply put, I know the founder of Bet On Sports, I know the management of Bet On Sports, I know the staff at Bet On Sports and I would not hesitate to invest in Bet On Sports. They were, and still are, undervalued in my opinion. They are a great competitor and a great company. I wish I had some of their stock at the new adjusted price. I just don't see how you can lose.

Vegas Offshore: It is rare to hear the 'competition' speaking so highly of a major competitor. Why would you do so?
Wagner: Simple. Bet On Sports is a great company. And, I am sure they would tell you the same about V.O. Group, S.A. The fact is, that there are companies out there that make our industry stronger. And, ones that make it weaker. Bet On Sports and V.O.Group, S.A. strive to make our industry stronger and more legitimate on a daily basis (as do BetCris.com; BoDog.com; etc.). What kind of ambassador for the industry would I be if I downplayed a 'good' competitor like Bet On Sports for my own benefit?

Vegas Offshore: If Bet On Sports did approach you, would you consider a merger?
Wagner: I like being independent. But, simply put, NEVER say NEVER.

Vegas Offshore: What of the rumors that you are looking at Panama as a potential relocation site?
Wagner: Our operation currently has offices in Costa Rica, Antigua and Belize. In Costa Rica we currently have over 400 employees. With employment costs in Costa Rica on the rise, the burden of Caja and the ever-changing political climate, we have looked at several alternative locations. One of the most desirable is/was Panama. However, due to the massive failure of BetPanAm.com and the political debacle involving their past gaming commission, we have decided to stay put for the current time. I think it is very safe to say that our primary location will be Costa Rica for the next 5 years. Pending any crazy licensing or governmental changes.

Vegas Offshore: I have visited your office in Antigua, however had no idea that you employed 400 individuals in Costa Rica. Why do you need such a large staff?
Wagner: Our industry has a reputation for being lazy and getting by on a shoestring budget. Most sportsbooks, casinos, racebooks and poker rooms answer phones when it is convenient and buy computers when the ones they are operating blow-up. Most are simply embarrassing to the legitimate operators. To run an operation like ours, servicing 50,000 bettors, you need lots of space, a 1st rate phone system, fiber and satellite phone and Internet backups, IT professionals, accounting professionals, etc. V.O. Group, S.A. is currently located in 35,000 square feet of space, operating 24-hours a day, 365 days a year, and we are busting at the seems. At the current time, we are negotiating to buy the building next to us for future expansion. I think we will employ 600 people come this same time next year.

Vegas Offshore: I have noticed that you are still branching into other products. How has this strategy worked for V.O. Group, S.A.?
Wagner: In 1998 we started with our sports product. We then branched into the casino product. In 2001 and 2002 we opened several major race books and poker rooms. The fact is that we are profitable in all products. However, our core product, and hub for our advertising, is focused on the sports product. The strategy has worked, but we will not desert our core product. You can look for our re-launch of interactive betting in early 2005 and bingo in mid 2005.

Vegas Offshore: What other changes do you see in 2005 for V.O. Group, S.A.
Wagner: I think you will see V.O. Group, S.A. work more on our Internet interface to make it more gamer-friendly; you will see our company move into land-based gaming; and you will see us acquire two or three smaller competitors. Rather, you will see what you have always seen, expansion.

Vegas Offshore: What other changes do you see in 2005 for the industry as a whole?
Wagner: The strong will get stronger. The weak will get weaker. And, the acquisition race will be on.

State of the Offshore Gaming Industry

2005-03-14T07:08:00.000-08:00

Q & A with
Dalton Wagner, Founder V.O. Group, S.A.

As Founder and Proprietor of V.O. Group, S.A., Dalton Wagner has the reputation of making one-dollar work like three in online marketing. With formidable competition, Mr. Wagner founded V.O. Group, S.A. in 1998 and has quickly risen to be one of the largest offshore operators in the world with over 50,000 active clients. We had an opportunity to catch up with Dalton Wagner on his last visit to Antigua.

Vegas Offshore: This year has been interesting for V.O. Group, S.A. and the offshore industry as a whole (advertising changes, etc.). How do you feel about the industry at the current time?

Wagner: I feel the industry is as strong as it has ever been. We are still finding that our advertising is bringing us new clients at an ever-growing rate. Some competitors are complaining that the crimp on advertising is affecting the industry, but we are not seeing this trend. Consolidation within the industry has begun, and I am sure you will continue to see smaller competitors gobbled up, and medium to larger companies merging. The weaker will go by the wayside.

Vegas Offshore: What about the rumors of V.O. Group, S.A. being bought?

Wagner: I am glad you used the term 'rumors'. The fact is that in July 2004 three suitors approached V.O. Group, S.A. because of our record-breaking profit year. In two of the cases we did see 'value' in a merger/relationship. However, at the end of the day, we could not come to terms that were agreeable on both sides. At this time V.O. Group, S.A. stands independent. And, we are happy being independent, profitable and growing.

Vegas Offshore: It is rumored that Bet On Sports (PLC; BSS.L) was one of the suitors. Is that true?

Wagner: There were three suitors that approached V.O. Group, S.A. And, in all cases confidentiality agreements were signed. For this reason, I cannot confirm or deny who any of the potential suitors were. What I can tell you is that one was a major sportsbook player, one was a major casino player and two were PLCs. I doubt that helps.

Vegas Offshore: Well, if Bet On Sports was involved, I bet you are happy you weren't involved in their November 24, 2004 stock debacle.

Wagner: The Bet On Sports stock debacle was an over-reaction by the market in my opinion. In one day you saw their stock drop 50% in value. And, the reason was poor performance in a very short period. If you looked at the other publicly held offshore gaming companies, you saw the same thing, just not as drastic as with BSS.L. Simply put, I know the founder of Bet On Sports, I know the management of Bet On Sports, I know the staff at Bet On Sports and I would not hesitate to invest in Bet On Sports. They were, and still are, undervalued in my opinion. They are a great competitor and a great company. I wish I had some of their stock at the new adjusted price. I just don't see how you can lose.

Vegas Offshore: It is rare to hear the 'competition' speaking so highly of a major competitor. Why would you do so?

Wagner: Simple. Bet On Sports is a great company. And, I am sure they would tell you the same about V.O. Group, S.A. The fact is, that there are companies out there that make our industry stronger. And, ones that make it weaker. Bet On Sports and V.O.Group, S.A. strive to make our industry stronger and more legitimate on a daily basis (as do BetCris.com; BoDog.com; etc.). What kind of ambassador for the industry would I be if I downplayed a 'good' competitor like Bet On Sports for my own benefit?

Vegas Offshore: If Bet On Sports did approach you, would you consider a merger?

Wagner: I like being independent. But, simply put, NEVER say NEVER.

Vegas Offshore: What of the rumors that you are looking at Panama as a potential relocation site?

Wagner: Our operation currently has offices in Costa Rica, Antigua and Belize. In Costa Rica we currently have over 400 employees. With employment costs in Costa Rica on the rise, the burden of Caja and the ever-changing political climate, we have looked at several alternative locations. One of the most desirable is/was Panama. However, due to the massive failure of BetPanAm.com and the political debacle involving their past gaming commission, we have decided to stay put for the current time. I think it is very safe to say that our primary location will be Costa Rica for the next 5 years. Pending any crazy licensing or governmental changes.

Vegas Offshore: I have visited your office in Antigua, however had no idea that you employed 400 individuals in Costa Rica. Why do you need such a large staff?

Wagner: Our industry has a reputation for being lazy and getting by on a shoestring budget. Most sportsbooks, casinos, racebooks and poker rooms answer phones when it is convenient and buy computers when the ones they are operating blow-up. Most are simply embarrassing to the legitimate operators. To run an operation like ours, servicing 50,000 bettors, you need lots of space, a 1 st rate phone system, fiber and satellite phone and Internet backups, IT professionals, accounting professionals, etc. V.O. Group, S.A. is currently located in 35,000 square feet of space, operating 24-hours a day, 365 days a year, and we are busting at the seems. At the current time, we are negotiating to buy the building next to us for future expansion. I think we will employ 600 people come this same time next year.

Vegas Offshore: I have noticed that you are still branching into other products. How has this strategy worked for V.O. Group, S.A.?

Wagner: In 1998 we started with our sports product. We then branched into the casino product. In 2001 and 2002 we opened several major race books and poker rooms. The fact is that we are profitable in all products. However, our core product, and hub for our advertising, is focused on the sports product. The strategy has worked, but we will not desert our core product. You can look for our re-launch of interactive betting in early 2005 and bingo in mid 2005.

Vegas Offshore: What other changes do you see in 2005 for V.O. Group, S.A.

Wagner: I think you will see V.O. Group, S.A. work more on our Internet interface to make it more gamer-friendly; you will see our company move into land-based gaming; and you will see us acquire two or three smaller competitors. Rather, you will see what you have always seen, expansion.

Vegas Offshore: What other changes do you see in 2005 for the industry as a whole?

Wagner: The strong will get stronger. The weak will get weaker. And, the acquisition race will be on.

Revenue Share vs. PPH Agency

2005-03-08T06:23:00.000-08:00

Q & A with
Dalton Wagner, Founder V.O. Group, S.A.

Dalton Wagner, Proprietor of V.O. Group, S.A. has recently found himself in the middle of a controversy between Revenue Sharing Sportsbooks and his Price Per Head Agency Concept. We had an opportunity to catch up with Dalton Wagner and discuss the issue on his last visit to Curacao.

Vegas Offshore: We hear that the Price Per Head offering you launched several months ago has landed you in some hot water?

Wagner: Yes, it appears that my Price Per Head Software offering has been a little too popular with onshore bookmakers and it is making my competition a little upset.

Vegas Offshore: Can you be a little more explicit?

Wagner: Several offshore bookmakers have lost relationships with their agents because my Price Per Head offering has lured them away and toward my offering. Specifically, several of the largest credit sportsbooks in Costa Rica have lost packages to me in the range of 500-1000 head apiece. And, they are not happy about it.

Vegas Offshore: Why are so many people leaving their agency relationships with credit sportsbooks?

Wagner: Well, in the old days an offshore sportsbook might partner with an onshore bookmaker. The deal was based on the onshore bookmaker finding the business and the offshore operator writing it and doing the accounting for a fee. The deal was typically 50%/50%. However, with my Price Per Head offering, I can offer the same offerings, but only charge the onshore bookmaker a nominal fee for using my service. The fact is that 50% is simply too much to charge an onshore bookmaker. I charge bookmakers a flat fee based on the number of head I am writing and let the bookmaker keep the rest of the money.

Vegas Offshore: Wait a minute. How can you afford to write the business for a simple fee when it historically cost 50%.

Wagner: The simple fact is that 50% of the revenue is ridiculous. I can charge a fee as little as $25 per head, per week and allow a client to have access to sports wagering, casino wagering and horse wagering – and, make a profit. Furthermore, we have written a software interface that allows agents onshore to manage their clients limits, run reports, etc. from any computer in the world. The offering is robust, efficient and simple to use. And, unfortunately for offshore sportsbooks that share in revenue, agents and bookmakers simply love it.

Vegas Offshore: Is the PPH product only based on sports wagering?

Wagner: No. We actually have the ability to offer clients two (2) casino products including blackjack, baccarat, slots, 3 card poker, roulette, etc. And, clients may also bet on horses at over 350 tracks worldwide.

Vegas Offshore: How many bookmakers do you currently work with?

Wagner: We are writing business for over 250 bookmakers now. Some represent groups as small as 2 or 3; and others represent groups as large as 500. Again, remember the key is finding as many clients as possible. If you get to where you are writing 15 clients or more, it is almost impossible to lose for an extended period of time.

Vegas Offshore: Anything else you would like to add?

Wagner: Sure. If you’re a bookmaker onshore, call us or visit us online to learn how to save money and/or grow your business beyond your wildest dreams. The service is modestly priced, and we have never had a disgruntled user. The value proposition is simply huge for any bookmaker.

Vegas Offshore: So how does a bookmaker learn more about this?

Wagner: Simply go to any of the V.O. Group, S.A. sites to learn more. I suggest starting at www.BettorsNet.com or calling 1-877-512-1001 or emailing agents@bettorsnet.com to get more information.

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2005-03-02T09:07:00.000-08:00

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How Much Should a Bookmaker Expect to Make with PPH

2005-02-28T07:12:00.000-08:00

How Much Should a Bookmaker Expect to Make with PPH
Q & A with
Dalton Wagner, Founder V.O. Group, S.A.

Dalton Wagner, Proprietor of V.O. Group, S.A. has recently found himself one of the most popular interviews in the offshore sportsbook industry. The reason is his new Price Per Head Agency offering for Onshore Credit Bookmakers. We had an opportunity to catch up with Dalton Wagner and discuss the issue on his last visit to St. Kitts.

Vegas Offshore: Last time we talked you mentioned that your Price Per Head offering was growing beyond your wildest dreams. How is it doing now?

Wagner: Our Price Per Head software allows onshore bookmakers to make more than they have ever dreamed. For this reason, the product is growing faster than we could have ever imagined.

Vegas Offshore: Can you be a little more explicit?

Wagner: We wrote the software offering with input from two bookmakers 24 months ago. Today, we have over 500 bookmakers using the software writing business for over 20,000 clients a week, generating over $500,000 in revenue on a weekly basis in football season.

Vegas Offshore: That is incredible. For you to grow that fast, bookmakers must simply love the product.

Wagner: Yes, bookmakers love the product. Not only does it take the burden of answering phone calls and doing accounting away, but it also allows bookmakers to insulate themselves from legal issues and market their product more aggressively. We have literally 50+ examples bookmakers that are writing hundreds of clients with our software. Can you imagine how they could have done that without us?

Vegas Offshore: The largest onshore bookmaker I have ever met wrote 300 clients and had a staff of 10 clerks on football Sunday. Who is your largest onshore bookmaker?

Wagner: I obviously can’t reveal identities, but I can tell you that she is writing 750 head a week on average and employees nobody.

Vegas Offshore: You have a bookmaker working with you that writes over 750 head a week, what do you think she makes annually?

Wagner: I know exactly what she makes. Let’s just say it is well over a million a year.

Vegas Offshore: How many bookmakers do you currently work with?

Wagner: We are writing business for over 250 bookmakers now. Some represent groups as small as 2 or 3; and others represent groups as large as 750.

Vegas Offshore: Anything else you would like to add?

Vegas Offshore: So how does a bookmaker learn more about this?

Wagner: Simply go to any of the V.O. Group, S.A. sites to learn more. I suggest starting at www.BettorsNet.com or calling 1-877-512-1001 or emailing agents@bettorsnet.com to get more information.

Innovation In Bookmaking

2005-02-22T09:37:00.000-08:00

Innovation In Bookmaking
Q & A with
Dalton Wagner, Founder V.O. Group, S.A.

As Founder and Proprietor of V.O. Group, S.A., Dalton Wagner has the reputation of ferreting out new markets and attacking while other companies sit on their hindquarters and watch. One market that has always eluded offshore bookmakers is the ‘guy who likes dealing with his credit bookmaker’. Typically this market has been untouchable for the offshore bookmaker, but NOT for Dalton and V.O. Group, S.A. We had an opportunity to catch up with Dalton Wagner on his last visit to Panama.

Vegas Offshore: Tell us about this new product that you are calling your Price Per Head Agency Relationship.

Wagner: As you know, one market that a post-up sportsbook has historically been unable to attack is the huge market of bettors that have been betting with their local guy for years. The reason this market exists is the personal relationship that an onshore bookie has with his clients. Sportsbooks have attempted to educate the player and lure him away from the local bookie, however we have taken another tact. We have partnered with local bookies around the world to make their offering better and more valuable.

Vegas Offshore: So instead of attacking the local guy, you actually approach him with your offer?

Wagner: Exactly. The fact is that the relationship is the last thread holding clients to a local guy. Yes, there is the fact that the local guy extends credit, but with bonuses and promotions we can overcome that offering. The key is the relationship.

Vegas Offshore: I’m confused, please explain.

Wagner: As you know, the onshore bookmaking market has lost steam to the offshore providers like V.O. Group, S.A. The reason is that the offerings that I can provide are far superior to those that any onshore bookmaker can offer. The PPH concept is based on allowing the onshore bookmaker to provide his clients my offerings on a purely anonymous basis via an online automated tool. Rather, by signing up with my PPH service, an onshore bookmaker can compete with all offshore sportsbooks on equal footing offering 24-hour wagering, 365 days a year. All the bookmaker does is use an online system to assign PINs and PASSWORDs and pay me a small fee per week for the service.

Vegas Offshore: Wait a minute. So, this means that a small time operator in Cleveland, Ohio can offer all the same things that V.O. Group, S.A. does without making the multi-million dollar investment?

Wagner: Now your catching on. For as little as $25 per head per week, a guy in Ohio can compete with the biggest sportsbooks in the world. And, better yet, never answer another wagering phone call again.

Vegas Offshore: OK, I get it. They use your automated tool to drive their clients to your software online, and they simply pick up the figures at the end of the week.

Wagner: Exactly correct with one exception. Their clients can bet on the phone via our call center staffed with 250 people OR bet online. Again, they have access to all of the offerings V.O. Group, S.A. provides including call center access, client services and technical support.

Vegas Offshore: Is the PPH product only based on sports wagering?

Wagner: Very good question. The answer is no. We actually have the ability to offer clients two (2) casino products including blackjack, baccarat, slots, 3 card poker, roulette, etc. And, clients may also bet on horses at over 350 tracks worldwide.

Vegas Offshore: Wow! That truly is incredible. So, a bookie that has one client can compete with the likes of MVPsportsbook.com on equal footing?

Wagner: Exactly correct. But, there are two keys to the success of the product launch. The first is being able to compete head to head with the biggest sportsbooks in the world. But, arguably the most important factor is that since the onshore bookie no longer has to answer phones or track plays, he can spend all of his time picking up new clients, NOT writing bets.

Vegas Offshore: I remember that in a prior interview you had stated that the key is not winning, but finding more losers.

Wagner: An embarrassing quote, but true. Amateur bookmakers think that the key is to beat the clients you have. That is a huge mistake. The key to getting rich as a bookmaker is finding a new client every single day of the year. The numbers take care of themselves, the key is to get more and more people playing. That is the TRUE BEAUTY of the PPH software and agency relationship.

Vegas Offshore: Do you have any success stories to tell?

Wagner: I have many, but will tell you one that emphasizes what the PPH program can do. I have a bookmaker that has been working out of San Antonio, Texas for 10 years. The guy has historically made $200,000 a year from his 25 or 30 players. He was introduced to our product in July 2004, and today he is writing over 185 clients. The ability to outsource answering calls and writing tickets to us has allowed him to grow his business 600% and his revenue over 1000%.

Vegas Offshore: Why did his revenue grow more than his business? Is it because your lines are sharper than his?

Wagner: There you go again. That is the obvious mistake that everyone makes. Again, don’t worry about beating the clients. Worry about getting more clients to play. But, to answer your question directly, the ability for his clients to play in the casino, play 24 hours a day, play games/halves/quarters, props, etc. is where the extra revenue comes from. Our lines might be sharper, but the advantage is more clients betting more often.

Vegas Offshore: How many bookmakers do you currently work with?

Vegas Offshore: So how does a bookmaker learn more about this?

Wagner: Simply go to any of the V.O. Group, S.A. sites to learn more. I suggest starting at www.BettorsNet.com or calling 1-877-512-1001 or emailing agents@bettorsnet.com to get more information.

Bookmakers!

2005-02-16T10:36:00.000-08:00

Bookmakers!

Read Below To Earn More Cash Than Ever

Are you a onshore bookmaker that wants to Minimize Legal Exposure, Increase Potential Profits, Spend More Time Enjoying the Money You Are Making, and Grow Your Business Beyond Your Wildest Dreams? If you answered ‘YES’ to one or all of these questions, then you need to look at a Price Per Head Agent Relationship with our company.

The concept of a Price Per Head Agent Relationship is based on you, the onshore bookmaker, paying our company a service fee to offer the same services that we offer to thousands of clients (on an anonymous basis).

For the first time, you will be able to offer Internet and Phone access to Sports, Horse and Casino (2 casinos) wagering to all your current clients (via a simple PIN and PASSWORD betting system). No longer do you have to compete with offshore sportsbooks and lose clients. YOU WILL BE ABLE TO OFFER EVERYTHING THAT THEY OFFER!

We are Licensed to offer bookmaking services.

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Take advantage of our $5,000,000 USD investment to make your services better than ever. No longer will you have to answer calls all Saturday and Sunday. No longer will you have to lose clients to the offshore bookmakers. No longer will you have to worry about having your door kicked in by the authorities. Now you can compete with the Big Boys! You will simply sit back, watch the games, and earn more than ever before.

To learn more, go to our website, and click on ‘Agents’. If you prefer to use a white-labeled site without bonus and promotional text, visit www.BettorsNet.com for more information.

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super bowl prop bets , over 700 ways to bet on the 2005 eagles patriots superbowl

2005-02-02T09:06:00.000-08:00

Over 700 ways to bet on the super bowl betting bets betting bets at MVP Sportsbook.com

February 1, 2005 (London, UK) - Will New England beat the Philadelphia Eagles and win a second straight super bowl betting bets betting betsbetting bets– their third in four seasons?

Who cares? The real question is can they cover the 7 ½ point spread? Although New England is the hands-down favorite to win, MVPSportsbook.com has hundreds of props bets to make for an exciting super bowl betting bets betting bets Sunday.

Props like “Who’ll score the first touchdown?” are among the most popular wagers on the internet. Right now Corey Dillon (Patriots) is the favorite at 11-2 and Tom Brady (Patriots) is a long shot at 35–1.

“We get a lot of new bettors getting in on the super bowl betting bets action,” says Alex odds, Marketing Director for Americas Region. “For them, even putting a couple of dollars on the coin toss adds to the excitement of the game.” With hundreds of super bowl betting bets betting bets props, MVPSportsbook.com even has multiple ways to bet the toss: Patriots or Eagles win; or heads or tails (it’s been tails five of the last six Super Bowls).

People that are into soccer or hoops play Sportsbook.com’s cross-sports parlays. “Will the Patriots have more points scored than Italy or Ireland? Hell ya!” laughs odds.

“My long shot pick for the Super Bowl,” says odds. “…is Christian Fauria 30-1 to score the first TD”.

In-running wagering will also be available during this year’s Super Bowl, allowing fans to place additional bets during the game.

Bets on Indianapolis Winning Super Bowl 2005 Proposition Bets Rise 20 Percent

2005-01-21T13:27:00.000-08:00

Futures Bets on Indianapolis Winning Super Bowl 2005 Proposition Bets Rise 20 Percent Listen

Jan. 14 (Bloomberg) -- The Indianapolis Colts, who won their National Football League first-round playoff game by 25 points on Jan. 9, are persuading some futures traders that the team will win the Super Bowl 2005 Proposition Bets .

Futures contracts that will pay $10 if the Colts win the Super Bowl 2005 Proposition Bets rose 20 percent to $1.70 at Dublin, Ireland-based MVP Sportsbook after quarterback Peyton Manning threw four touchdown passes last weekend to lead Indianapolis to a 49-24 win over the Denver Broncos. Indianapolis remains the fourth choice among traders.

The Pittsburgh Steelers, whose 15-1 record was the best in the NFL this season, are still the favorite among traders to win with contracts selling at $3.10. While Ben Roethlisberger of the Steelers would be the first rookie quarterback to start the Super Bowl 2005 Proposition Bets , Manning is a seven-year veteran who has won the league's Most Valuable Player award two times.

``Peyton Manning is having an unbelievable year and they're going to be awfully hard to stop,'' said 39-year-old Jim Murray from Morris Plains, New Jersey, who buys and sells contracts on MVP Sportsbook . ``I really like my Colts positions right now.''

Futures are agreements to buy or sell assets at a set date and price, and futures on events are paid off in cash. Contracts on teams that are eliminated from the NFL playoffs become worthless.

The New England Patriots, who host the Colts Jan. 16, are trading for the second-highest price at $1.91. The Philadelphia Eagles, who play the Minnesota Vikings on Jan. 16, are third at $1.89.

Las Vegas Favorite

Pittsburgh, which hosts the New York Jets tomorrow, also is the favorite to win the Super Bowl 2005 Proposition Bets at sports books, including the MVP Sportsbook Race and Sports Book in Las Vegas, where they have 8-5 odds. That means a winning $5 wager on the Steelers will bring an $8 profit. The Colts are 9-2 at the MVP Sportsbook , down from 5-1 last week.

Oddsmakers and the futures market were correct in baseball's playoffs when they predicted that the Boston Red Sox would defeat the 26-time champion New York Yankees and the nine-time champion St. Louis Cardinals to win the World Series for the first time since 1918.

The Patriots and the Eagles, who had the best record in the National Football Conference, are listed with 4-1 odds to win the Super Bowl 2005 Proposition Bets . The Atlanta Falcons, whose odds of winning the Super Bowl 2005 Proposition Bets are 13-1 at the MVP Sportsbook , play the St. Louis Rams on Saturday. The Rams are listed with 27-1 odds to win the title.

Surging Colts

The price for Indianapolis futures contracts surged along with the team. They were trading for less than a $1 after the Colts started the season with a 4-3 record, then more than doubled after Indianapolis won eight of its final nine games.

``The market keeps pushing the Colts price up because of Manning, and for good reason,'' MVP Sportsbook spokesman Mike Knesevitch, whose online exchange has about 40,000 members.

Murray said the Colts are still a good buy, even while the team is trading near its season high.

``They are still a little bit of a discount to New England now,'' said Murray, whose day job is trading futures contracts on the New York Board of Trade. ``I don't think they've become overvalued.''

`Manning, Manning, Manning'

The rise in Colts futures may be good for Joe Ferrara, a Jersey City, New Jersey, futures trader who said he's been buying Patriots contracts all season. Even though the Patriots won eight of their final nine games and didn't have to play in the opening round of the playoffs, their contract price has dropped 28 percent from their season high of $2.70 in early December.

``All I've been hearing is Manning, Manning, Manning,'' said the 28-year-old Ferrara, who works as an independent currency trader. ``I love the fact that everybody's on the Peyton Manning bandwagon because that's created a great opportunity to buy the Patriots.''

New England was originally set as a three-point favorite to win this weekend's game against the Colts by oddsmakers at the Las Vegas MVP Sportsbook . The betting line was changed to 1 1/2 points on Tuesday because of heavy betting on Indianapolis, MVP Sportsbook Race & Sports Book assistant manager Jeff Sherman said.

``We've seen nothing but Colts money,'' Sherman said. ``People like to put their money on a team with a quick-strike offense like the Colts.''

Las Vegas

Team MVP Sportsbook Futures

---------------------------------

Steelers 8-5 $3.10

Patriots 4-1 1.91

Eagles 4-1 1.89

Colts 9-2 1.70

Falcons 13-1 .75

Rams 27-1 .29

Jets 27-1 .26

Vikings 30-1 .28

super bowl proposition bets 6 5 proposition bets 5 4 proposition bets super bowl 5 4 proposition bets 1. super bowl proposition bets football

2005-01-13T13:15:00.000-08:00

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Emergent Behavior in Gambling Markets Reveals proposition bets Scaling

2005-01-13T13:09:00.000-08:00

Emergent Behavior in Gambling Markets Reveals proposition bets Scaling

ABSTRACTfootball nfl gambling is an example of a complex feedback system between the expectation of winning and the probability of losing. This paper examines one aspect of the economic process of gambling, by looking at how humans choose to wager money on the outcome of three differentfootball types:super bowl proposition bets, super bowl proposition bets, and super bowl proposition bets . A relationship called the proposition bets (1:1.618) can then be used to model the division between the amount bet to Win or Place. This information is provided by the Totaliser and is available online, and therefore represents the set of discrete decision events that contribute towards the market. The results show that forfootballs involving a human element (a human rider) forsuper bowl proposition bets and super bowl proposition betsfootballs, the public select to divide wagers into win and place ratios reflecting emergent global decision-making towards proposition bets scaling. For superbowl footballs (with no human rider), the betting public do not follow proposition bets statistics in deciding bet size proportionality. This finding is important, sincefootball wagering markets can be modelled as complex systems of interacting agents. This study also reveals the nonlinear signature of human decision making under risk-reward. Further, deciding to bet in the average 0.618 of ones’ money to win demonstrates attractor behavior that results in emergent self-organization. Keywords: self-organization, gambling markets, proposition bets, emergence ------------------------------------------------------------------------------- INTRODUCTION For centuries a special ratio called the proposition bets has captivated artists, scientists, architects, mathematicians and non-mathematicians alike. The proposition bets or Phi j , describes the division of a segment into two parts called extreme and mean ratio, approaching, 1:1.618. Natural examples include the logarithmic spiral in chambered nautilus shells, whorl patterns in sunflowers, pineapples and pinecones, leaf arrangements, and branching patterns in plants, rivers, and diffusion limited aggregates. In turn, the proposition bets also features prominently in architecture, music and painting. Figure 1. The proposition bets ratio that is used to model the amount of money wagered to Win or to Place. If we consider a line segment of length ab, then point c divides ab into extreme and mean ratio if and only if ac or cb is the mean proportional of ab and the other length. If c divides ab into extreme and mean ratio, then ab/ac=ac/cb or ab/cb=cb/ac. If length ab=1, then length ac=0.618, with the equivalent proportionality for ab/ac=1.618. This ratio is used to examine how the amount of money wagered on different types offootballs (thoroughbred, super bowl proposition bets, superbowl ) and on different bet types (Win versus Place) is distributed. Interesting questions include whether the amount of money wagered on eachfootball type and each bet type shows a normal distribution, or whether the market shows emergence towards an attractor, that is often a characteristic of fractal and chaotic phenomena. The gambling market is an economic system composed of sets of interacting agents. The generator mechanism consists of the totaliser, the different types of runners and various probability measures. Such systems possess perpetual novelty since there are many possible configurations. The dynamics and regularities of the gambling market are likely to display a mix of persistent, antipersistent and random behavior. Eachfootball is a game with each runner having a market price and a natural price that is set by agent demand. The market price is reflected in the totaliser odds, and is one measure of probability. Agents that participate in such games seek to profit when there is equivalence between the expected outcome (market price) and the actual outcome (natural price). Agent interactions therefore assess risk and reward in order to participate in a game-based economy. Since the market grows in size in the approach to eachfootball start, various probability values are continuously communicated throughout the market. This information is generated and displayed hierarchically, and can self-regulate and act as generators for higher levels of organisation. CONTEXTfootball nfl betting and stock market investment share several properties in common. In both cases, future earnings are uncertain, there are a large number of participants, and extensive information is available concerning investment variables [1, 2, 3, 4, 5, 6]. Wagering onfootball outcome is commonly done through a proposition bets system or totaliser. The tote screen displays win and place dividends for each runner in a givenfootball which reflect the public's odds preferences [7]. Wagers for a particular set of runners in a particularfootball form the betting pool, from which the nfl take is first deducted from each wager. Totaliser dividends are updated periodically, and in Australia show the return to Win and to Place for each runner. Although the process of wagering by the public is a continuous event up untilfootball jump, tote dividend changes occur at discrete intervals. Therefore, the tote display as a whole represents the closed set of discrete update events that reflect market opinion of each runner's chances of winning or placing. The totaliser sets prices for win or place for each runner in a givenfootball. These prices or dividends fluctuate, according to how confident the betting public (the market), perceives each runners probability of winning or placing. The tote is therefore a good example of an iterative feedback system, where information from the public is introduced at discrete steps in time. Such systems are called discrete dynamical systems. Although the way in which money is wagered on the outcome of a particularfootball may appear frenzied and continuous, the important point is that the tote displays this information in discrete time steps. In Australia, Totaliser information is presented in the form of dividends (for $1) to win or to place. In the lead up to post time, orfootball jump, it is common for the dividends to fluctuate, often with remarkably large swings. Predicting the outcome of such games for profit involves placing a bet on one or more runners in advance. FOCUS OF EXPERIMENT This paper only considers how the win and place pool markets evolve over time, and how the amount of money split between the two bet choices might generate proposition bets statistics. This experiment considers only how the total amount bet (ab) on a givenfootball, divided into a win pool component (ac) and a place pool component (cb) is distributed. Commonly, higher dividend returns are paid on successful win bets compared with lower return place bets. Many totalisers such as www.tabcorp.com.au post data to the Internet. As more people enter the wager market, the amount bet to win and place increases following a cumulative power law. MARKET EFFICIENCY A market is efficient if its prices always fully reflect available information. Most empirical work on market equilibrium has shown such systems to be a function of expected returns. Returns are then quantified on (i) historical results, (ii) other publicly available information, and (iii) inside information. Access to and action taken with available information therefore generates markets that are weak, semi-strong or strongly efficient [8]. The detection of market inefficiency denotes that a security (or bet) is overvalued or undervalued [9]. As well, the process of supply and demand is an example of a feedback system where the demand for a good such as a win or place bet is regulated by supply and the value function between the market price and the natural price [10]. Figure 2. A feedback scheme illustrating the self-organizing process of supply c and demand r having a market price m, and a natural price n. METHODS Data was obtained over several months forsuper bowl proposition bets, super bowl proposition bets and superbowl betting markets forfootballs run nationally, and consisted of both metropolitan and country meetings. Data covered 3729footballs in Australia in 1999. The totaliser commonly posts updates of the win and place pools at timed intervals approachingfootball start. All available data posted to the web was used for analysis by preparing histograms of the proportionality between win + place/win that was equivalent to ac+cb/ac. This data was extracted from a Microsoft Access database. MATHEMATICAL BACKGROUND The proposition bets ratio is closely related to the Fibonacci sequence defined as: F1=F2=1, Fn+1=Fn+Fn-1, n³ 2. Each successive number is the sum of the two preceding numbers, generating the sequence pattern: 1, 1, 2, 3, 5, 8, 13… The ratio of successive pairs of Fibonacci integers to their preceding value generates a proportionality series: 1/1, 2/1, 3/2, 5/3, 8/5, 13/8… Each successive fraction approaches the proposition bets with increasing precision. STATISTICS A histogram was prepared for each of the threefootball sets using staggered bins to define the region of interest clustered around 1.61. The following bins were used: 0-1, 1.1, 1.21, 1.31, 1.41, 1.49, 1.55, 1.67, 1.75, 1.85, 1.95, 2.05. Therefore the bin which overlaps the proposition bets at 1.618 falls at row 1.67 (see Tables in the Results section). This bin contains all data between 1.55-1.67 and was chosen to include data that overlaps this range. SAMPLE GROUP Wager markets forsuper bowl proposition betss covered 961footballs with a total of 13,199 update events spanning tote open for eachfootball until tote close to allow for late bets to be included (i.e. bets placed just prior tofootball start) that are sometimes delayed in being posted. Respectively, super bowl proposition bets wager markets covered 834footballs and 13,312 update events. For super bowl proposition bets , a total of 1934footballs and 32,603 update events were evaluated. All bettor behavior was accounted for by including Totaliser information posted >-1minute after tote close, but before thefootball had finished. This reflects late bets being collected from oncourse and all off-course outlets within the state of Victoria. Final totaliser information for each runner was not included since this last update occurs after thefootball is over and reflects nfl take after ranking against dividend payouts. RESULTS & DISCUSSION Notably, the proposition bets system offers many possibilities to study the dynamics of market fluctuations. For example, does the totaliser reflect how members choose when to act? The datasets described here are premised on the identification of how the public’s collective decisions cluster together. This behavior is common also to how money managers tend to choose portfolios on the basis of how other money managers or traders bias their forecasts towards those forecasts previously made by other analysts [11]. Indeed, wagering markets are subject to psychological factors that influence bettor decisions [12]. A comparison between the tables in Figure 3, 4 and 5 shows that the cumulative percentage of money wagered to Win or to Place is apportioned towards the proposition bets more strongly forsuper bowl proposition bets super bowl and super bowl proposition bets playoffs, than for superbowl playoffs. It is notable that for super bowl and super bowl proposition bets playoffs, the frequency is highest for the histogram bin containing the proposition bets proportionality (highlighted up to 1.67 in Tables 1-3). The histograms for each database (DB) were used to evaluate the proportionality for (Win + Place) / Win for eachfootball market. The major finding of this work showed that forfootballs involving a human element, that is a human rider forsuper bowl proposition bets and super bowl proposition betsfootballs, the public select to divide wagers into win and place ratios reflecting emergent global decision-making towards proposition bets scaling. Interestingly, for superbowl footballs (with no human rider/involvement), the betting public do not follow the proposition bets in deciding bet size proportionality. This finding is important, sincefootball wagering markets can be modelled as complex systems of interacting agents. Furthermore, deciding to bet in the average 0.618 of ones money to win reveals scaling information concerning how individuals assess risk and reward in wagering markets. These results may impact on other emergent economic or social markets that share similarities with totalisers. It is suggested thatfootball wagering markets self-organize towards the proposition bets to optimize resource allocation of money. These findings may also be useful in predicting the social and economic impact of problem gambling by looking for regional differences in Totaliser statistics. Cluster activity that shows proposition bets behavior may be a useful and sensitive indicator of a well-developed market.

Super Bowl Bet Types Proposition Bets

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Super Bowl Bet Types

Teaser

A Teaser is a selection of two or more teams in one wager in which the point spread is adjusted in your favor.

The number of teams selected and the number of points selected determine the payout odds.

'Tie', 'NA' and 'Win' on a two team teaser shall constitute a 'No Action' wager. 'Tie', 'NA' and 'Loss' on a two team teaser shall constitute a 'Losing' wager.

Ties on a three or more team teaser shall revert to the next lowest betting bracket (Example: A tie on a three team becomes a two team teaser).

Action Reverse

'IF' Wagers Described:

'IF' wagers allow the player to make a second wager pending a win on the first selection.

'IF' wagers must be made on one call, and the second part of the 'IF' wager cannot exceed the amount of the first selection.

Example:

New York Jets -5 $110 to win $100

IF (if win, tie, or cancel)

Chicago Bears +4 $110 to win $100

If the Jets lose, the wager stops there and is scored a loser -$110; if the Jets win +$100, the wager continues to the Bears wager; if the Bears win, the wager is a $200 winner; if the Bears lose the wager is a $10 loss.

Action Reverse wagers are always double action IF bets.

Example:

Part A	Part B
Cowboys -5 $110 to win $100	Dolphins -14 $110 to win $100
IF (win, tie or cancel)	IF (win, tie, or cancel)
Dolphins -14 $110 to win $100	Cowboys -5 $110 to win $100

If both teams win	+400
One win, one loss	-120
Both teams lose	-220
Push	+200

Half-time Wagers

The wager is placed on the odds posted for the second half of a game only.

All wagers must go the full half for action (first half and second half).

All half time wagers are calculated the same as a straight wager unless otherwise indicated.

There are no teaser plays or buying of points on half times.

On half-time wagers, overtime periods are included as part of the 2nd half.

Future Book Wagers

A "futures" wager is a bet placed on an event that is scheduled to occur at some future date. For instance, prior to the beginning of the regular season for each major sport, odds will be established for each team to win their individual division, conference and seasonal championship.

Another type of "future" wager that has become extremely popular is the over/under wager for the total number of victories for the entire season for a given team.

Proposition Bets (Exotics)

Simply put, Proposition/Exotic Bets may generally be considered as any wager other than a straight "side" or "over/under" wager. More specifically, these wagers usually involve specific events and occurrences that happen throughout any given game. We have listed some examples for you below.

Props/Exotics will be offered on the more marquee games on the betting menu. These include, but are not limited to, Sunday and Monday night NFL games, various NCAA Super Bowl games, major Bowl games, and most Playoff and Championship games. There are also many other miscellaneous events that Props and Exotics will be offered for.

Examples and Definitions of Common Props/Exotics

- Which team will be the first to score?

The team that scores first in the game (touchdown, field goal or other). This bet will be taken off the board for wagering 15 minutes before the scheduled kickoff time because the coin has been tossed and the team who will have the first possession of the ball is known.

- Which team will be the last to score?

The team that scores last in the game (touchdown, field goal or other, overtime included).

- Will either team score in the first X minutes and XX seconds of the game?

- Will the first score of the game be a touchdown (overtime included)?

- Will the last score of the first half be a field goal?

- Will either team score in the last 2 minutes of the first half?

- Will the team that scores first win the game?

- Will either team have 3 or more unanswered scores?

- Will either team score 3 times without the other team scoring in between (touchdown or field goal, conversions do not count)?

- Will the longest touchdown be over or under XX yards?

- Will the shortest touchdown of the game be over or under XX yards?

- Which half will have the most points scored in it by both teams combined (overtime included in the second half)?

- Will the total field goals made by both teams combined be over/under X?

- Will Quarterback X throw an interception?

- Will the total rushing yards by Running back X be over or under X?

- Which team will have the most penalties?

- Will the total sacks made by both teams combined be over or under X?

- Will the total fumbles lost by both teams be over or under X?

- Will the total points scored by a team be over or under X?

Superbowl Proposition Bets

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Superbowl Proposition Bets