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Wednesday, June 22, 2005
Featuring Dalton Wagner, Founder V.O. Group, S.A.
The number of Price Per Head providers has grown exponentially over the last twelve months with entrants to the marketplace almost daily. With so many choices, the big question is: “How do I know which Price Per Head provider or sports book to choose?”
When evaluating an offshore operation, it is often difficult to sort through the facts, for this reason, you must rely on the following to make a sound choice:
Years In Business: Make sure you choose a Price Per Head operator that has been in business for at least 6 years. A proven track record is a must. You can not afford to risk your clients or your sports season to a fly by night operator or ‘wanna be’ operator. Avoid new sportsbooks. Avoid anyone with an unreasonably low price (<$25/head/week) who may be attempting to gain entry into the market (sign of a new company).
Dalton Wagner Commentary: I invented the concept of PPH in 1999. I have the largest economies of scale and I write more PPH clients than anyone offshore. And, this is in addition to my sportsbook business, my casino business, my racebook business and my poker business. The fact is I make very little money at $25/head/week. It scares me to see new operators entering the market with prices as low as $25. I can tell you that unless they are writing over 15,000 head, they can not make it. Let me re-phrase that…if they are quoting prices as low as $25/head/week there is no way that they have enough employees to service an agent, there is no way they have tri-dundant phone service, there is no way they have tri-dundant internet service – in short, there is no way they can service an agent’s business well enough to help the agent grow. Secondly, PPH companies will lie to you about their company’s age. You must be able to verify the companies age. This is a must. Use Internic, use OSGA.com, and use ThePrescription.com. You must verify the facts.
Location: Check to make sure that the PPH provider you will outsource your clients to is licensed and legally able to service clients world-wide.
Dalton Wagner Commentary: There are only two locations that we know of that allow the outsourcing of bookmaking. The two locations are Costa Rica and Panama. The UK and Dutch Antilles to NOT allow this activity in their licenses. The only one you can trust at the current time is Costa Rica (as evidenced by the recent blow up of www.BetPanAm.com in Panama).
Reputation/Integrity: One of the best ways to make sure that your clients and your business will be safe with a provider is by checking their reputation. Use verifiable and known sources of information like the Off Shore Gaming Association, The Prescription, Bettors World, etc.
Dalton Wagner Commentary: If your outsourcing your business to someone, you expect them to treat it as their own. The person accepting the outsourcing better have a reputation as strong as or stronger than yours. This is the only way you should trust your business to them. One additional note, if the PPH Company also has a post-up division, check the reputation of the post-up side of the company. This will tell you volumes about the company. Rather, if the PPH company is tied to a loser post-up sportsbook or one that has a negative reputation, you know what to expect for your clients.
Service and Offerings: Reputable PPH companies are open 24-hours a day, 7-days a week, 365-days a year. They offer quarter lines, half time lines, game lines, money lines, propositions, multiple casinos, horse betting, and more. You are outsourcing to better service your clients – therefore service is one of the key deciding factors on who to go with.
Dalton Wagner Commentary: Simply put, the more accessible the service is and the more wagering options that exist, the more money the agent will make. You should consider the service mentioned above to be the minimum acceptable. Rather, if they have one casino – you should NOT work with them. If they do not have horses – you should NOT work with them. If they are not open 24-hours a day – you should NOT work with them, PERIOD!
Security: A PPH company must have safeguards and must keep your information and clients secure and anonymous If the company you are considering is publicly held, then your security is compromised (it CAN BE accessed via the government). If the company you are considering has integrity issues, you can assume your data will be passed on to the wrong people.
Dalton Wagner Commentary: Security is the ultimate issue. Our company has had the opportunity to be purchased or taken public on multiple occasions. We decided not to do so because it would put our clients/agents/bookmakers in a compromised situation. Partner agents and bookmakers use our service because our integrity and the security of their data is complete.
Additional Information on a Price Per Head Agency Relationship (also known as outsourcing, outsourced bookmaking, sportsbook agent, sportsbook service, call center outsourcing, etc.):
The concept of Price Per Head Agency or Outsourcing Bookmaking to an Offshore Sports book has become popular recently. By using software written by offshore sports books, agents or illegal credit bookmakers have the ability to outsource the writing of their business to companies like www.BettorsNet.com (owned by V.O. Group, S.A. one of the largest and most respected offshore operators in the world – contact is 1-877-512-1001). Therefore, the agent or bookmaker simply points their clients to a phone number and/or website and allows them to bet with a simple Pin/Password system. The agent or bookmaker then pulls reports at the end of the week, and pays or collects what the client won or lost. The only money that trades hands between the agent or bookmaker and the service provider is a simple Price Per Head service fee.
Obvious benefits of the Price Per Head Agency relationship are (i) improved earning potential for the agent, (ii) decreased legal exposure for the agent, (iii) increased customer service for the agent’s clients, and (iv) ability for the agent to do something other than answer wagering calls (they actually get time to enjoy the money they are earning).
Dalton Wagner’s commentary is found throughout the above. Mr. Wagner has the reputation of being the most innovative operator in offshore gaming and the largest Price Per Head operator offshore. 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).
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Featuring Dalton Wagner, Founder V.O. Group, S.A.
The concept of Price Per Head Agency or Outsourcing Bookmaking to an Offshore Sports book has become popular recently. By using software written by offshore sports books, agents or illegal credit bookmakers have the ability to outsource the writing of their business to companies like www.BettorsNet.com. Therefore, the agent or bookmaker simply points their clients to a phone number and/or website and allows them to bet with a simple Pin/Password system. The agent or bookmaker then pulls reports at the end of the week, and pays or collects what the client won or lost. The only money that trades hands between the agent or bookmaker and the service provider is a simple Price Per Head service fee.
This new system is a departure from the way it used to work in which the agent would split the winnings or losings with the offshore sportsbook.
Obvious benefits of the Price Per Head Agency relationship are (i) improved earning potential for the agent, (ii) decreased legal exposure for the agent, (iii) increased customer service for the agent’s clients, and (iv) ability for the agent to do something other than answer wagering calls (they actually get time to enjoy the money they are earning).
There has been much debate over which of the two methods is better for the partner agent or bookmaker. In an effort to get to the bottom of this, we attempted to contact the dominant player in each of the models:
Revenue Split Model: The owners of www.BetCris.com (Costa Rica International Sportsbook is a well known offshore credit bookmaker who operates only on a revenue split model) were contacted but refused to return our call or comment;
Price Per Head Agency Model: Dalton Wagner, proprietor of V.O. Group, S.A. and BettorsNet.com (one of the largest offshore gambling operators who only operates on a Price Per Head basis when dealing with credit agents) was contacted and agreed to be interviewed.
Unfortunately, since only one of the persons contacted agreed to participate, our interview will show mostly his view. However, we did our best to probe the positives and negatives of each model.
Post-Up Newsletter: The Price Per Head model appears to be the most appropriate model for an agent or bookmaker to maximize his revenue. Why then are companies like www.BetCris.com so against them?
D. Wagner: The answer is simple dollars and cents. If you have a client that loses $10,000 in a week and you have a Price Per Head Agency relationship with www.BettorsNet.com, you will simply need to pay your service fee of $25-$30 for that client using our service. However, if you are using a revenue split relationship, you will have to fork over $5,000. So, in the example you provided, companies like the one you mentioned are in danger of losing $4,970 in revenue if their agents find out about PPH.
Post-Up Newsletter: Yes, I understand the math, but when speaking to companies like www.BetCris.com they act as if the PPH industry is putting the offshore industry in danger. They speak of people like you as if you had the plague. Why?
D. Wagner: I know the gentleman that owns Bet Cris. I know the guys who run Bet Cris. They are the best in the world at what they do. There is no way I would dispute that and no way anyone would dispute that. But, BetCris.com can not exist by taking all of their revenue split relationships and having them converted to PPH. So, if I had to guess, they act that way because I am endangering their way of life. I have actually had conversations with the owner of BetCris.com and he firmly feels that he provides his agents a better opportunity to earn more, therefore he feels his much higher price is warranted. I don’t know if I agree, but I think it best for my reputation to speak for itself. The fact is that I have NEVER had an agent or bookmaker come to me who switched to PPH from revenue split EVER GO BACK. 100% of the people who have tried my service are still with me from day 1. That shows me that agents do not agree with BetCris.com. They think the service is comparable and they think the earning potential is greater with www.BettorsNet.com.
Post-Up Newsletter: I am lost. Why does the owner of BetCris.com feel he provides his agents a better opportunity to earn more? The math seems obvious.
D. Wagner: Actually, I agree with him in one way and one way only. If an agent is weak and is booking ‘over his head’ (an industry term that implies the bookmaker or agent is taking more risk than they can afford in the long term), then a partnership with www.BetCris.com can be a positive thing. Not only do you share 50% of your revenue with them on a revenue split relationship, but you also share 50% of the risk. So, if you are an agent that has a bettor that wants to bet $5,000 a game, and you can only afford to book $2,500, then a partnership with Bet Cris is a good thing and will allow you to stay in business longer. You should never ever book over your head.
Post-Up Newsletter: Oh, I see. So that is an example of an agent you would tell to use a revenue split model, right?
D. Wagner: Yes. And, No. Yes, if the agent plans on booking over his head for the long term. No, if he can cut his client down to an acceptable level and keep all the profit for himself. Then, when the agent or partner bookmaker has a large enough bank roll, he can open the client up to the larger wagers. I still believe, and I believe the math proves that PPH is always bettor for the agent.
Post-Up Newsletter: Are there any other Price Per Head agency companies that you would recommend?
D. Wagner: Absolutely NOT. Please print that in big bold letters. It is difficult for any company in our industry to survive. The overhead is huge. Most Price Per Head companies have come to Costa Rica or Panama or Antigua to try and compete with just Price Per Head revenue. Trust me, I have been doing this for 7 years, and PPH does NOT generate enough for survival. You have to build a relationship with a company that has a huge staff, technical know-how, tri-dundant phones, tri-dundant internet service, millions of dollars in investment in hardware and software – and, we are the only ones that have it at the current time. Why? Because we have been operating major post-up brands for years. We are one of the most successful operators offshore and we are able to write PPH as a sideline business. We could NEVER survive on PPH alone. And, anyone who says they can, is lying to you. The guys who say they can write business at $17or $20/head are on their way out – they just don’t know it yet.
Post-Up Newsletter: So how does a bookmaker or agent learn more about this?
D. 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.
Additional Information on the Companies Mentioned Above:
As Founder and Proprietor of V.O. Group, S.A., Dalton Wagner has survived multiple buyout attempts and maintains one of the largest privately held offshore gaming companies in the industry. While the rest of the industry is going public and being required to provide more and more information in a public format, Mr. Wagner’s privately held company is a favorite associate and partner for bookmakers and agents onshore. Privacy is one thing you never have to worry about when dealing with Dalton and V.O. Group, S.A. 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 most admired offshore companies (as measured by Online Gambling Magazine; Post-Up Newsletter; Offshore Operator Industry Magazine; and Many other Publications). If you are looking for a Price Per Head Agency relationship, there is no place better online or offshore.
BetCris.com is considered the undisputed leader in offshore credit bookmaking. The owner of the company has been called the Godfather of the Offshore Bookmaking Industry in many publications. It is estimated that 90% of Costa Rica International Sportsbooks revenue is generated via revenue splits with Partner Agents and Bookmakers. If you are looking for a Revenue Split relationship, there is no place better online or offshore.
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Tuesday, June 21, 2005
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.
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Friday, June 17, 2005
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.
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Tuesday, June 14, 2005
State of the Offshore Gaming Industry
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.
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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?
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.
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Monday, March 14, 2005
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.
We have been in business for 7 years.
We write business for 15,000 clients daily.
We are open 24-hours a day, 7-days a week, 365 days a year.
We have over 500 operators standing by to make you money!
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.
We look forward to being your service provider.
Call 1-888-333-6914 for more information.
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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.
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The curiousity of people to gamble online is often hampered by concerns about
the safety of placing bets over the Internet.
In some instances, those concerns are justified. While the majority of online
casinos are regulated , there are some which aren't. It is because of these
that online gambling has been given a bad rap in some corners.
But that doesn't mean you should never place a bet online. A little research
and posing the right questions will go a long way toward making your online
gambling experience a safe one.
Here are some simple guidlines to follow before you make a wager online:
-Check the posted rules, policies and FAQ (frequently asked questions) pages
on the sites you are considering.
-If you're betting on sporting events, compare the odds with the numbers printed
in the newspaper.
-Check if a site is a member of the Interactive Gaming Council, an association
set up to instill consumer confidence in online gambling, or if it has the blessing
of its government.
-Consult an embassy to find out whether a country licenses gambling sites.
If a gambling site is part of a publicly traded company, you can examine its
financial statements.
-Call the toll-free numbers and try the e-mail addresses listed at gambling
sites and steer clear of sites that don't have them.
-Get a feel for the customer service people. Is someone available around the
clock?
-Read what customers have to say about gambling outfits at Internet forums
and newsgroups. Check to see if a site lists it's auditor.
-Marketing may also give you a clue about a site's legitimacy. A company that's
invested a lot of money in advertising is more likely to be a reputable business
than one that has not. But pay attention to the ads and keep your distance from
sites that advertise pornographic links.
-Test your gambling skills before betting. Some of them, lets you practice
playing blackjack, poker and other games before purchasing online gambling credits.
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9:04 AM
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Tuesday, January 25, 2005
Casino Deposits & Withdrawals
internet casinos
Let's face it: it's all about the money. And before you get started with any transaction, you should be sure that the casino you've chosen keeps your personal information private and secure. This is accomplished through secure servers and encryption technology, and there should be information about the casino's security and privacy measures on the Web site. Furthermore, you should be able to find disclaimers about the casino's e-cash provider and account balance insurance. Some of the most reputable e-cash providers are Interstate Global Ltd., Proc Cyber Services, and E Cash Direct.
Deposit and Withdrawal Methods
In order to win cash, you have to spend cash, and any good casino should give you several methods for deposits and withdrawals. Following are the most common banking methods:
Credit Cards
Visa and MasterCard are the most commonly accepted cards. Beware that although the casino (or its e-cash merchant) will usually record the transaction as a purchase, your credit card company may see the transaction as a cash withdrawal and apply their customary transaction fees.
For withdrawals (ie, "cashouts"), the credit card companies will not allow the casino to credit you for more than your deposit amount, so the balance is usually sent to you by check. For example, if you deposited $100 and later you want to cash out $500, the casino will credit you card $100 and send a check for the remaining $400. A few casinos have posted disclaimers that MasterCard will not allow any money to be credited back to your card; therefore, the casino sends the entire amount by check.
FirePay
FirePay is a personal payment account that you fund with your credit card without revealing your credit card details or payment history. Because of industry-wide credit card restrictions, most casinos recommend that players user FirePay instead of credit cards. FirePay accepts Visa, MasterCard, or Check. With FirePay, your casino bankroll can be credited in minutes.
PayPal
PayPal is a service through which individuals can send and receive money through the Internet. PayPal accepts Visa, MasterCard, American Express, and Discover. PayPal also accepts Electronics Funds Transfers directly from US Banks. It typically takes up to 4 days to activate your PayPal account, but once you've got the account, transactions are quick and your bankroll will be credited in minutes.
Direct Bank Transfer (Automatic Clearing House, or ACH)
This is simply a transfer from your bank to the bank account (or e-cash merchant account) for the casino. This is usually accomplished by entering all the necessary data into an electronic form in the Cashier section of a casino's Web site. ACH transfers are restricted to US bank account holders, and processing can take up to 7 days.
Wire Transfer
Like an ACH this is also a transfer from your bank account to the casino's account. But with Wire Transfer, you usually need to FAX or e-mail to the casino a form that will allow them to request a wire transfer on your behalf. They make the request of your bank, and you must then give your bank authorization to wire the money. This method typically takes quite a bit longer because of the extra processing times required.
Check or Money Order
This method is necessarily slow because the check or money order must be mailed, processed by the casino, and cleared by both banks before your account is credited.
Deposit Limits
All reputable Online casinos operate within a Code of Conduct, and one of the guidelines in this code is that all casinos should be committed to detecting and reducing compulsive gambling habits. One way to do this is to apply deposit limits to all player accounts. Because of the various deposit methods and processing times, Online casinos determine their limits by deposit method. This information should be available for you on the casino's Web site. Average deposit limits are listed below:
Credit Cards and FirePay:
up to $500 for single deposit per card
up to $1500 daily per card
up to $2000 total per card
maximum of 3 cards per person
PayPal:
up to $500 for single deposit
up to $1500 daily
up to $10,000 monthly
ACH and Wire Transfers:
up to $3000 for single deposit
up to $10,000 monthly
Check/Money Order:
up to $10,000 monthly
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Monday, January 24, 2005
Blackjack History internet casinos
Blackjack was derived from the french game vingt-et-un or twenty-one. Until about the mid 1950's, it was believed that the game was a lot like baccarat and the house had the edge because the player played first.
In 1956, a paper was published by Baldwin, Cantey, Maisel, and McDermott in the "Journal of the American Statistical Association" laying out a set of recommendations for the play of the game, these recommendations were very close to today's basic strategy. The following year, they published a manual for the public with this system of play, but it attracted little interest until, Edward O. Thorp(PhD), saw the paper and understood that there were parts of the game that had been missed in the past. The first being that the composition of the deck changed with each card dealt, also, some combinations of the remaining cards favoured the house and others favoured the players.
In 1962, Dr. Thorp published his now famous book, "Beat the Dealer", which contained a simple yet profound message that decks of cards have memory. Each hand is dependent on the makeup of the deck at that time and by paying attention to the cards already played, the player can almost predict what will be appearing in the deck next.
The Blackjack Computer
With the help of a computer, Thorp did a statistical analysis called the Monte Carlo simulation and discovered that 10's and Aces remaining in the deck put the player at an advantage, while 5's and 6's being left in the deck put the dealer at an advantage. Thus, card counting was born.
If the player could keep track of the cards left in the deck, they could decide how to bet on each hand. For example, if there are many 10's and aces left they would be smart to bet high, and if there are lots of fives and sixes left they might want to bet low.
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Texas Hold'em Poker Rules
In a full ring game, Hold'em is played with a standard 52-card deck and as many as 10 participants. A dealer "button" is used to indicate the position of the player who would be dealing the cards if the players were actually dealing the cards themselves. The player holding the button acts last and thus has a positional advantage that remains throughout the hand. After each hand, in internet casinos
the button is moved one position clockwise, so that all players in the game have, after a full round, had exactly the same number of opportunities to hold positional advantage.
Holding the button is an advantage, because as the player to act last, you have more information available to you when your turn to bet arrives. For exactly the same reasons, being forced to act first is a disadvantage. The players acting in the middle are, as you might imagine, somewhere in-between on the advantage/disadvantage scale; the later you act, the better your position.
The two players on the button's immediate left must post "blind" bets...that is, amounts they place in the pot before they see their cards. Typically, the player in the very first position posts a blind bet one-half the size of the player in the second position, although in some games, the first bet (called the "small blind") may be as little as one-third or as much as two-thirds the size of the second bet (called the "big blind").
All participants are now dealt two cards face down. These cards belong exclusively to their "owners," and are not seen by the other players at any time until the showdown at the end of the hand. A round of betting takes place during this point, which is called "before the flop" or "pre-flop."
In the pre-flop betting round, the player in third position has only three choices. Because a blind wager has already been made, the player can do any of the following:
Fold. If the third player folds, he is out of the hand permanently, and cannot participate again until the next deal of the cards (when, because of the way the button moves around the board, he will be the big blind)
Call, by matching the size of the big blind; or
Raise. How much the player can raise depends on whether the game is limit, pot-limit, or no-limit...subjects covered separately above. For ease of discussion, we will assume the game played in our sample hand is limit poker, with $5 and $10 blinds, which means it is a "10-20 game."
If he calls, he places $10 in the pot. If he raises, he places $20 in the pot.
The action continues in clockwise fashion around the table, with each player in turn having the option to call or raise. If the third or another player has raised, the player who acts after the raiser must now decide whether he wishes to call $20, or raise to $30. There is a limit on the number of raises per round; in some casinos, the limit is three raises, and in some, it is four raises. UltimateBet uses the 4-raise rule.
Let us assume that the third player does indeed raise to $20, and that everyone else folds until the button, who calls for $20. Now, the player in the small blind must decide if he is going to call for $15, or raise to $25 (because he already had $5 in the pot). If he calls, the big blind must decide if he is going to call for $10 or raise another $10. If no one had raised the player in the big blind would have an opportunity to raise, called "the option," because he was forced to bet his original $10 without having looked at his cards.
With the pre-flop betting complete, the dealer now deals out three cards face-up. These are "community" cards that belong to everyone, and these three cards are called "the flop." To see how the community card feature works, if your "personal" cards are Queen-Jack, and the flop comes Q-5-4, you have a pair of Queens with a Jack "kicker"(secondary card). This isn't a bad position, unless someone else has a hand like King-Queen, in which case you both have a pair of Queens, but you are losing, because the other player has a better kicker. A second round of betting follows.
In the second betting round, the player closest to the left of the button, who is still in the hand, acts first. Unlike the first betting round, though, where the options were "call, raise or fold," now the options are:
Check, which means to decline to wager now but to retain the option to call or raise bets made by other players; or
Bet, in this case, because of the game's structure, $10.
Why this difference? On the first round, the blind money was placed in the pot to give the players a reason to play. If there were no blinds, there would be very little incentive for a player to enter a hand without the absolute best possible cards, because there would be nothing to win. As the first player in, you would be risking your $10 bet to win nothing; the only way you could win something would be if someone after you decided to call or raise your bet, and one would assume that the player after you, knowing that you had a strong hand (because you were the first to bet) would only raise or call with a strong hand himself).
The blinds thus give players something to shoot at, a reason to play with something less than the best hand. But once we reach the flop, there is already money in the pot, so there is no longer a need for blinds, and the first player can choose to bet $10, or to check.
It is possible, and indeed happens reasonably often, that all players still in the hand will check, meaning that there is no betting action on the flop. But if someone bets, the players must decide whether they are going to call or raise, and the same limit on the number of raises in a round applies.
After the third round betting concludes, the dealer reveals a fourth community card, called "the Turn" or "Fourth Street." In limit poker, the size of the betting amount now doubles, to $20 (which is why this game is called a "10-20" game). The greater bet size aside, the process of betting and checking is identical to that on the flop.
After this third round of betting concludes, the dealer reveals the fifth and final community card, called "the River," or "Fifth Street." Betting is identical to the pattern used on the third (Turn) round.
At the end of this fourth round of betting, any players still remaining in the hand turn their cards over. (If at any point during the hand, one player makes a bet that all others decline to call, the hand is over immediately, and the player who made the final wager takes the pot without the need to show his cards.)
The player who can assemble the best five-card hand, out of the seven possible (the two in their hands and the five in the middle) wins the pot. The players can thus use two, one, or none of their "private" first two cards. Although it is unusual to use none of one's private cards, it is possible, if the five cards on the board form a strong hand such as a straight, flush, or full house.
If, for example, two players remained in the hand at the end, one of whose private cards were two kings (K-K), and one of whose private cards were two aces (A-A), and the board was 5-6-7-8-9, the players would split the pot, because each has exactly the same nine-high straight. Before the river card, the player with the two aces had a very large advantage, but the concluding nine cost him half the pot (as would have a concluding Four, which also would have put a straight on the board).
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9:24 AM
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Blackjack Odds
Ever wonder why blackjack is so popular with the masses? Maybe you're simply here to find out a bit more about blackjack odds. Well, to kill two birds with one stone, lets discuss that very topic; after all it's the odds that make blackjack so popular. I know you're all thinking, you can't fool me, blackjack is a negative expectation game just like the rest of the casinos offerings. I wont lie to you, you're completely right. A negative expectation game is a negative expectation game (oh, all that means is that the house edge is against you, which we'll get into a bit more in a second). What sets blackjack apart from its compadres though, is the player-controlled variability of that expectation. This page will provide you with a good general overview of what the odds really are in gambling, how they are described, and what those terms mean. Only at this point is it worth quoting numbers to you that relate directly to blackjack in internet casinos.
In roulette for instance, the odds against you are pretty standard for every bet on the board, at a somewhat nasty 5.26% house edge. This means the house will win 5.26% more of the bets on the table than they lose. Of course, if you've been paying attention at the casino you'll realize it's more than this. Say you bet on two columns on the same spin at the roulette table, the odds are you'll win 24-14. So how is it that the casinos don't go broke? There is another factor that has to be considered, and it's called the payoff. The house's advantage stems from the fact that a payoff for a winning bet is a bit below the odds. Read that sentence again, it makes sense, its just not poetry. Basically, if you bet on two columns in roulette for 12 bucks each (24 bucks total) and win, you get paid $12. But on odds of 24 to 14 the casino should pay back 14 dollars, on an even playing field. The casino knows it can profit properly even against the odds if it matches its payouts appropriately. The casino profits by taking $24 when you lose, but only paying $12 when you win.
I know this roulette example seems out of place on a blackjack odds page, but trust me, math is math and things apply all across the board in gambling. If things didn't make sense after the last paragraph however, don't stop, because it will become a little clearer quite soon. Perhaps in an effort to confuse the masses, casinos often evaluate house edge in three or four different styles, each of which corresponds to a term you might find more familiar. There is of course the house edge, and also the return percentage, the vigorish (or vig), and the hold. While they all essentially refer to the same thing, understanding the perspective each phrase is spoken from is helpful. Lets talk about each of these and you will see easily how they relate to blackjack odds.
The house edge is what we call a theoretical number, and is never calculated on real world empirical experiences. It is the theoretical fraction of the overall amount bet that the casinos would keep if every set of decisions were to fall exactly into a statistical row. This is where the roulette example may become clear. As per our two-column roulette table example, in 38 spins the house expects to win 14 rounds at $24 profit each for $336 profit in all; at the same time they expect to lose 24 rounds at $12 a pop, totaling $288 dollars of loss. The total bet is 38 multiplied by $24: $912, while the take is $48 (the difference between the $336 profit and $288 loss). The edge is $48 divided by $912, which equals 5.26%. Keeping in mind that I used the qualifier "expected" for the house, and although 38 rounds may not land 24 wins for the casino, 38 million rounds will net a number that is statistically insignificantly different from 24 million. And of course, there are millions of spins, so the house does indeed rake in its 5.26% edge.
Another theoretical number is the 'return percentage' or 'pay out percentage' (a familiar term to slots fans). Basically the return percentage is just that, the percentage of the money bet that would be returned to the players, again if everything fell into a perfect statistical row. Return percentages are no mystery to slots fans who know it is simply the compliment of the house edge. This just means that a 95% payout rate means 100 minus 95, or a 5% house edge.
The Vig, or Vigorish, is a slightly different concept these days in casino gambling. The Vig is a fee the casinos charge on certain bets. In some instances the casino applies a vig as a bet is being placed, and therefore it is collected regardless of a win or loss, and other instances like in Baccarat, where a Vig is only charged on a win (the winning banker hand in baccarat).
House hold, or hold percentage, is the real world equivalent (non-theoretical) of the house edge. If the house edge were to hold steady and all events were to go to a statistical T, then the hold and the edge would be equivalent. It can often be confusing though, because for games like a slot machine where there is no variation, the hold is actually the real counterpart of the house edge, it's simply based on tallies rather than probabilities. At the tables, considering blackjack odds for instance, there is a little more variance in play, which affects the amount of the edge the casinos are actually pulling at any one point in time. The hold takes on a slightly different meaning when it comes to the blackjack table. It is the amount of cash the casino actually keeps out of the total dropped on the table. It is a counted real number, not a theoretical one such as the house edge, but it is directly analogous to the house edge. The variance is caused by variables such as how long players continue to bet from original buy-ins and how big their wagers are relative to bankrolls, etc.
So how does this all relate to our blackjack odds? Well it puts you in the know about house edges around the casino, and lets you see quite clearly how and why blackjack has an obvious advantage for the players, a player-controllable variable house edge. At this point you understand that the goal of any gambler is to effectively reduce the house's hold during their session at the table. The only way to practically go about this is by altering your playing style so that the predictive house edge will be statistically lower (as that, in turn, will decrease the house's hold). Players who use perfect basic strategy can reduce the blackjack odds so much they are playing very nearly even with the house. It's easy to find and play a blackjack game with a house edge of 0.5% or less once you know what to look for and how to play it right. If you don't know basic strategy, and are just playing on impulse, you're looking at a house edge of anywhere from 2-5%. Many people are of the opinion that being presented with the same old 'use basic strategy' quote is being presented with an absence of tips.
The fact of the matter is, basic strategy is just one big long list of perfect tips, which will always be statistically superior to any other decision you could make in the instance described. So instead of taking on the mindset that 'basic strategy' is only for basic play and not the 'advanced strategy' you are looking for, understand that each 'tip' presented by basic strategy has been worked out ahead of time to be the very best possible statistical decision in that case. This will effectively lower the house edge for your hand, and in turn lower the house's hold over the game. Play with basic strategy and over the long run you will always win more than if you had played without. This is of course over the long run, and although many people do indeed play with basic strategy decisions, much of the time they won't double-down when basic strategy suggests it, working on the notion that even if they don't, they still have a good chance of winning the hand. The catch here is, basic strategy can only really affect the house's hold if you take advantage of double-down situations to help your profit margins. The extended low edge is next to meaningless if you don't double down at the right times, because it simply won't translate into a lower hold for the house (ie, a bigger profit for you).
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