It's the Adam Gold Show, I'm Adam Gold. At the very beginning of this program, well we're gonna get back to basketball, but at the very beginning of this program we talked about the fact that we're in the middle of Super Bowl week and LeBron James owns the Super Bowl, owes the Super Bowl an apology because, I mean, I watched ESPN on here all day, all they talked about was LeBron James, oh by the way everybody's out of the Super Bowl, and most of those people are talking about LeBron James, and here locally Carolina stunk up the joint in Winston-Salem last night, so that also knocked the Super Bowl off the airways, so because gambling we can talk about the Super Bowl.
And that's why we're here, that's why we have a segment every day called Place Your Bets. Lamar Mitchell, Director of Trading, MGM Resorts, and I was told BetMGM, BetMGM, BetMGM from my guy Chad. Thank you very much Mr. Mitchell, how you doing? Good, good, thanks for having me, I really appreciate the time.
Hey, we appreciate you being available. So I was just looking at like most Bet props and things like that, and I like it. Travis Kelsey, and I know the price when this article was written was plus $6.50 at BetMGM, first touchdown Travis Kelsey.
That seems like that's it's pretty good value, but there's certainly there's better value on the board. How do you feel about that? You know, Travis Kelsey has been a popular Bet for the public all year long, and I can see that number going down, because once the general public gets in town this weekend, most Bet is, like I say, Kelsey all year. They're gonna hammer him and I believe it's just gonna go lower and lower and lower. So if you get plus $6.50 right now, that's a pretty good number.
Oh yeah, there is no question. Are those types of wagers becoming like not as popular as just the straight game wager or the total, but because there are so many cool things to do that aren't the goofy stuff, that aren't the cross sport, or aren't the what color is the Gatorade, but those first touchdown scores over under on total and passing yards or rushing yards, are those becoming like way more popular than you even expected? I would tend to agree with that statement there, because every Sunday we see right before the 10 o'clock game starts, right before the 1 o'clock game starts, we see a ton of action on total passing yards by this quarterback or under over interceptions, pass, a tense receiving yards, receptions, rushing yards. It's, it's, it's really phenomenal how these players are attracting these wagers. And it's pretty funny because a lot of times we see you say, oh, well, this guy, we tend to know what's going to happen. So if they hammer a guy under the total, usually for some reason, it goes under the total. You would think that most of the time when they're betting over, it's going to go over, but really when they bet it under, somehow player gets a freak injury and they're not playing a number of snaps that they need to get to win the waiter.
We're talking with Lamar Mitchell, Director of Trading MGM Resorts, Bet MGM, if you will. I know the Eagles are favored. Didn't the Chiefs, at the very beginning, didn't the Chiefs open as a favorite and then the line moved drastically right away? It opened at pick and it moved to Eagles right away. Our house opened at, we opened at Eagles one and a half, but we saw some of the other shops around.
They had it at pick. We kind of wanted the number to settle in and open at one and a half. And we've seen it get as high as two and a half, but settle into this one and a half number. I think that's probably where it's going to go for the rest of the weekend unless we get a lot of Chiefs money coming in to make it minus equals minus one. But I can't imagine it getting much higher, but there's always a possibility. We're seeing nothing but Eagles, a large six figure seven figure bets right now. So if that continues to happen, then obviously we'll probably get off the one and a half. But I anticipate with the public coming in this weekend and the way how this game typically is bet, most of the action is going to come in both on both sides.
So we'll, I'm sure we'll get a lot of six figure bets on the Chiefs coming in Saturday and Sunday. Do you think it matters because of the not uncertainty whether or not he's going to play, but just the high ankle sprain that Patrick Mahomes has been dealing with? Has that impacted the line?
I don't think so, because you also have hurts. He's kind of banged up as well. That's true. I think the line was dictated by the fact that the Eagles defense is, uh, been stellar this entire year in their top five in practically every category. And when people, uh, when we're looking to set that line, you look at which team is, uh, the more balanced team. Uh, and defensively, obviously, it's the Eagles. And, uh, you know, I mean, the Chiefs as great as Mahomes has been this year.
Uh, it's hard. You're hard pressed to name all of his skilled personnel on offense besides Kelsey. Uh, he's really distributed the ball well and put up some great numbers. So I think, though, with the Eagles there, the fact that they played ahead a lot this year and their defense is done well played from ahead, uh, to not let the other team in the game.
I think that's where the line dictated why we opened from where it was from pick to Eagles one and a half, like I say, up to two at that point. Lamar Mitchell, director of Trading MGM Resorts, is joining us here on the Adam Gold show. Bet MGM. Uh, Chad made me write it three times.
That's, uh, that's what Chad does. Uh, when, when we started to see nationwide sports wagering and at some point, hopefully, uh, in the next couple of months, we'll, uh, we'll have this in North Carolina, too. And I appreciate you coming on, uh, in a place where we're not allowed to. Um, so many people were like, Well, why would Las Vegas be interested in people in North Carolina, for instance, being able to wager, uh, you know, on individual games in sports and all of the stuff that we would love to be able to do. What has been the impact on your business? My guess is it's only been positive. But you tell me what has been the impact as the laws have been expanded to allow this around the country.
You're absolutely right. It has been positive, and it's, uh, it's a little bit of a appetizer, as I like to say, for folks that are in different jurisdictions when they come out to Nevada or Las Vegas to make sports wagers when they get here because now they have some experience in their home states, and they're not, you know, not everyone's a novice, but then they have some. Like I say, they have some exposure to, uh, mobile betting apps in those states that are allowed, and they have in other states where the retail books or shops air available. They have that chance to go get some knowledge and exposure there.
But it's really created numbers for us where we've seen the business grow and grow and grow. And like you said, it becomes nationwide. I anticipate that, you know, some of the other states like North Carolina, Texas, California, all these other states that don't have what's wagering.
I can see it growing exponentially in those places. Well, too, hopefully will become smarter and will have it. I look, the truth is, Lamar, is that and I've said I've made no bones about this for the last I don't even know how many years I'm not a gambler. I do not.
I love I follow the lines. I understand it, but it's not what I do. But we should be allowed to do it. And look, it's at some point we will because people are doing it anyway.
I know people who place pets in the state and you can't do it. All right, let me ask you this because I sort of talked about this before he brought you on. $16 billion are being are expected to be wagered on the Super Bowl. How? How can we even tell that that's happening? Well, each state and each jurisdiction has a reporting entity that they report to called the gaming control board. So we're responsible for getting those figures to the G. C. B. Uh, Monday after the game.
So that's how we can really determine how much was that? Uh, Monday morning will be on the same page doing the same thing we did last year, putting this information. And like you said, the fact that you should be allowed to bet on this, most people will bet on it. And hopefully they'll have some fun doing it because it is actually the best sporting day of the year. The Super Bowl. Yeah. But the N. C. Double a tournament.
Is that your biggest handle? Or is it still the Super Bowl? It's still the big game here. Uh, the tournament that happens in March, since it's spread out over those 3 to 3 weeks, it is, uh, more transactions. But as far as money, this is imagine the Kentucky Derby and the Breeders Cup. So the Kentucky Derby is the crown jewel of horse racing. The Breeders Cup might be might contain better horse racing, which I would say is March madness. But when it comes to money, more people, more novices are going to come enjoy the Derby than they are going to go. You know, you have the experts for the Breeders Cup, and that's the same thing you have in March for the basketball tournament. You have a lot of experts who know about basketball, but when it comes to the game on Sunday, the big game on Sunday, you have a lot of people who just are in town or betting on these events because it's the event to bet on. And it's the event you can't be there.
You know, most people go to Las Vegas and come here and they better here. So we look forward to this this this event every year. It's, uh, it's it's great. It's phenomenal. I don't have any other words to describe it right now. Totally understand that final final thing. And you may not even be allowed to answer this question.
So if you can't, we'll just say goodbye. Lamar Mitchell, director of trading MGM Resorts. So if the estimate is that $16 billion will be placed on in wages will be placed on this soup on this big game, I'll help you out. Would could we even estimate estimate how much will be illegally wagered? That's a number I have no clue, but I wish I did. I'm sure some of those shop makers that are doing it legally, they're still in action.
But I don't have any idea how much that that figure is. I thank you very much. Lamar Mitchell, director of trading MGM Resorts. Have a blast. Not only Sunday, but all leading up to it. And I hope you guys do well.
I mean, you're they keep building big buildings out there, so I guess it's it's doing okay. Well, I appreciate the time and thanks. Looking forward to this weekend. Enjoy the game this weekend. Thank you very much. Lamar Mitchell, director of trading MGM Resorts.
Whisper: medium.en / 2023-02-08 18:46:58 / 2023-02-08 18:51:59 / 5