Gambling in the USA
NBA Conference Semis: this week’s betting market movers and shakers from Cloudbet
For all intents and purposes, it was a hell of a first round in the NBA playoffs. There were series sweeps (adios Philadelphia, adios Indiana) and a couple that went all the way (hello Houston, hello Denver).
There were buzzer-beaters and phenomenal scoring efforts heralding the emergence of the game’s next superstars (see Doncic, L., Murray, J.) as well as heart-breaking individual efforts that ultimately came to naught (see Mitchell, D.).
The game’s best-known player (see James, L.) rediscovered his imperious form, while the reigning MVP (Antetokounmpo, G.) needed a first-game scare before eventually rolling over his scrappy first-round opponents.
In the midst of all that, there was a temporary halt to protest yet another police shooting in America. Yes, there has been no shortage of drama in the NBA bubble, even without the crowd support and the home-court advantages conferred to higher seeded teams. Arguably, the games have been more dramatic precisely for those reasons.
With the first round out of the way, it’s appropriate for Cloudbet’s trading experts to look at the big movers in the outright markets, as we continue to head into the next stage – the Conference Semifinals – of the most audacious sporting experiment ever undertaken.
Celtic pride
Title odds: 7.09/+609 (from 14.7/+1374 at the start of the first round)
The Celtics have replaced Milwaukee as the favourites to take the Eastern Conference title after sweeping Philadelphia in the first round and taking a 2-1 lead over the Toronto Raptors. Jayson Tatum has been a stud in the playoffs, leading his team with 27 points per game, with solid support from Kemba Walker and Jaylen Brown. They’ve certainly stepped up and for now are more than accounting for the injured Gordon Hayward’s absence.
Meanwhile, their current opponents, the Raptors, have defied expectations this season even without star guard Kawhi Leonard, who left for the Los Angeles Clippers after leading Toronto to the NBA title last year. The Raps stellar run looked to be faltering in the face of a seriously motivated Celtics unit, even though they’ve kept their hopes alive with a Game 3 win.
Still, that win required a buzzer-beating 3-pointer from OG Anunoby, in a game where Boston looked a little too casual. Expect the Celtics to reapply themselves, and with Raps All-Star Pascal Siakam still in lacklustre form, Boston may just have the edge in talent.
The markets slightly favour Boston to win the series in six games (3.5/+250) and move on to the conference finals.
Milwaukee Falters
Title odds: 7.79/+679 (from 3.52/+252 at the start of the first round)
The Bucks, title favorites for much of this year, have had a less than stellar bubble experience, and they’ve been big drifters in the past week. They’ve won just 7 out of their 15 games since the season restarted, a far cry from their 77% win rate during the regular season – and they’ve now lost the two opening games of their series against the Miami Heat.
There are now indications in the market that Milwaukee gets put out this round. The line on a Heat series win is now 1.57 (-173), compared with 2.39 (+139) for the Bucks.
Commentators have questioned Milwaukee’s ability to defend strong 3-point shooting teams and their ability to close out tight games. They’ve suffered from sloppy ball handling, giving them the second-highest turnover rate among teams in this year’s playoffs.
Don’t discount the star power: Giannis Antetokounmpo is a clear favourite to win his second-straight league MVP award, and he’ll do everything he can to give the Bucks their first title since 1974. He’ll need much more help from the likes of Eric Bledsoe and Khris Middleton, who have been inconsistent on the offensive end.
Antetokounmpo said as much after his team’s tight Game 2 loss against the Heat: “It’s about us. It’s always gonna be about us. That’s why we practice. That’s why we go through our game plan. That’s why we’ve got to come out and play harder,” he told reporters.
Miami heats up
Title odds: 8/+700 (from 29.4/+2846 at the start of the first round)
The Heat’s line has improved significantly after they swept Indiana 4-0 in the first round and kept their streak going against the Bucks. Miami cornerstone Jimmy Butler is playing close to his All-Star best, in spite of an indifferent (and very tight) Game 2 against Milwaukee.
Still, that game brought home how strong his supporting cast has been during these playoffs. This is a line-up that outgunned Indiana by an average margin of 10.5 points per match, and includes Duncan Robinson, who is fifth in the league for made 3-pointers this season.
Did we mention earlier that the Bucks have trouble defending 3s? The Heat made 37.9% of their regular-season attempts from beyond the arc, the second-highest rate in the league.
They can certainly pour on the points on a good day, but so can the Bucks. The key for Miami will be how they handle Antetokounmpo defensively, while keeping half an eye on his supporting cast to make sure they don’t light up. The Bucks know firsthand that a comeback is possible: Last year, they won the first two games against Toronto in the conference finals before losing four straight. Miami would do well to take heed – this series is far from over.
We the West
Los Angeles Clippers title odds: 3.14/+214 (from 3.84/+284 before the first round)
Los Angeles Lakers title odds: 3.54/+254 (from 3.77/+277)
While not a massive improvement in their lines, it’s worth just talking about the two LAs because of their star-studded line-ups, and because they’re favoured to face each other in the Western Conference finals.
The Clippers were efficient and effective in dispatching Dallas in the first round, even through injury and Covid-related personnel issues. Kawhi Leonard is the highest scorer of all players left in the playoffs, and his Clippers have averaged more points than any other unit in the postseason.
The Clippers are well rested compared with current opponents Denver, which had to survive a bruising 7-game series against Utah. LA are boosted by the return of guard Patrick Beverley from a calf injury, who will play big defensive minutes shadowing Denver stud Jamal Murray.
With all this in mind, markets favour the Clippers to prevail over the Nuggets in the current round. LA thumped Denver by 23 points in Game 1 of their series.
Meanwhile, after early bubble yips, the Lakers rediscovered their offense in their first-round 4-1 wine over Portland. GOAT contender Lebron James lifted his game when it mattered, as he has done frequently in his career. He’s currently the playoffs’ assists leader, with 10 dimes per game, while he and running mate Anthony Davis are in the top 10 for scoring.
The Lakers averaged 117 points in the Portland series, after posting 106 per game in the 8 regular season games in the bubble. They go up against a Houston Rockets team that can also score by the truckload, but is coming off a 7-game series against Oklahoma City. Rocket guard Russell Westbrook has been struggling with form and a thigh injury. All of that means the Lakers are heavy favourites (1.15/-654) to beat Houston (5.48/+448).
Results and odds are current as of 8am UTC on Friday 4 September
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Gambling in the USA
Bruce Smith Enterprise and The Cordish Companies Break Ground on New Live! Casino & Hotel in Petersburg, Virginia
Bruce Smith Enterprise and The Cordish Companies celebrated the groundbreaking of the new LIVE! CASINO & HOTEL VIRGINIA in Petersburg. The milestone officially commences construction on a transformative project that will generate billions of dollars in economic benefits and spinoff development, create thousands of new jobs, and set a new standard for gaming, hotels, and entertainment in the Commonwealth. Live! Casino & Hotel Virginia is part of a larger $1.4 billion master plan by the partnership, scheduled to be developed in phases, that will bring a world-class mixed-use resort destination to Petersburg.
Executives from Bruce Smith Enterprise, The Cordish Companies, and Cordish Gaming were joined by Petersburg City Mayor Sam Parham and members of Petersburg City Council, Virginia State Senator Lashrecse Aird, Virginia State Delegate Kim Taylor, and many other business and community leaders at the project site in Petersburg. The development site, ideally located on Brasfield Parkway at the intersection of Wagner Road and Interstate I-95 just 20 miles south of Richmond, will provide easy access on and off the East Coast’s major north-south interstate.
“It has been a source of immense satisfaction and pride to partner in this incredible development. For far too long people have simply driven by the City of Petersburg, but today marks the beginning of a new era in which Petersburg will become a prime destination. This pivotal project will ignite tourism, create jobs, and ultimately deliver on the promise of greater opportunity and upward mobility for local families. As a champion of Petersburg and its residents, I am happily confident that this historic development will uplift, empower, and enrich this community for years to come,” said Bruce Smith, founder of Bruce Smith Enterprise.
Live! Casino & Hotel Virginia is slated to open in 2027. A temporary gaming facility will open by the end of 2025 to immediately begin creating an estimated 500 new jobs, vendor opportunities and economic benefits for the City. In its first 10 years, the project is expected to generate $2.8 billion in economic stimulus to the region; $504 million in tax revenues including $240 million to the City of Petersburg; $802 million in economic benefits during construction; $201 million in annual economic benefits each year after opening; and 7500 new jobs including 6100 during construction and 1400 new permanent jobs.
“Today marks a monumental day for The Cordish Companies as we expand our Live! brand into the Central Virginia region with the development of Live! Casino & Hotel Virginia. Our company is a national leader in successfully developing and managing large-scale urban revitalization projects across the country. Live! Casino & Hotel will be a transformative development that will bring a world-class gaming and entertainment experience to millions of visitors, create significant new jobs, and generate millions of dollars in economic benefits for the community that will provide a beneficial impact for generations. We look forward to making an immediate impact on the region with the construction of a temporary gaming facility that will be operational before the end of 2025, so that we can begin creating jobs, vendor opportunities and economic benefits for the City,” said Zed Smith, Chief Operating Officer for The Cordish Companies.
PENN Entertainment announced that its stand-alone Hollywood Casino app has launched in New Jersey. The new Hollywood Casino platform is available on Android, iOS, and desktop and can also be accessed via the ESPN BET app. Customers can login to Hollywood Casino using their ESPN BET credentials, allowing for a seamless experience across PENN’s online betting and casino platforms.
Ranked by Eilers & Krejcik as the #2 overall iCasino product in the US, Hollywood Casino offers a variety of online slots, table games, and live dealer content, including original titles from PENN Game Studios, the company’s in-house casino game development studio. Hollywood Casino also includes bespoke live dealer tables and exclusive games such as the recently launched Devils Blackjack, an original title leveraging PENN’s partnership with the New Jersey Devils.
“We’re thrilled to introduce our dedicated, casino-first experience to customers across New Jersey. Hollywood Casino delivers a best-in-class experience with an extensive game library, seamless gameplay, and exclusive content from our in-house studio. This launch builds on the strong momentum we’ve gained since introducing our enhanced standalone app in December,” said Aaron LaBerge, Chief Technology Officer of PENN Entertainment.
The stand-alone Hollywood Casino platform debuted in Pennsylvania last December and is also available in Michigan.
Gambling in the USA
Bitline and Everi Announce Crypto Liquidity for Choctaw Casinos & Resorts in Industry First Development
Bitline, the only provider for casino chip access directly from cryptocurrency, has announced its first major collaboration in the U.S. casino market, teaming up with Choctaw Casinos & Resorts through its collaboration with Everi, a premier provider of financial technology and gaming solutions. This collaboration introduces cryptocurrency and digital assets as a new source of liquidity for casino patrons and marks the first time that such a functionality has been enabled within the American gaming industry.
Leveraging Everi’s CashClub’s comprehensive payment infrastructure, Bitline’s solution is able to efficiently board, screen and verify patrons looking to leverage their digital assets whilst also allowing patrons to move screened assets into custody within minutes. Bitline’s integration with Everi Cash Club, the leading financial access services suite for casino payments, will enable the technology for the benefit of Choctaw Casinos & Resorts, and is the first time that such a functionality has been possible in the U.S. regulated casino market.
Catering to the growing demand for greater cryptocurrency and digital asset integration within the casino industry, the collaboration between Bitline and Everi’s forms a transferable blueprint that offers casino operators and their patrons an alternative way to manage funds, access liquidity, and leverage the benefits of cryptocurrency and other digital assets.
This milestone reflects a strategic shift in how casino operators view and manage financial interactions with their guests. The introduction of cryptocurrency as a liquidity solution provides additional options for guests and lays the foundation for Choctaw Casinos & Resorts as it looks to the future of gaming sector finance, setting a new standard in financial accessibility and convenience.
“Working with Choctaw Casinos & Resorts and Everi to make this a reality is a historical moment for both the casino and blockchain industries. Bitline was conceptualized to advance the gaming sector and offer a wider variety of financial options for the casino industry,” said Richard Jones, CEO at Bitline. “We’re entering an era where digital assets can fundamentally enhance the gaming experience, providing casino operators with a future-ready financial framework that can expand and evolve as the industry does. This collaboration is just the beginning of our vision to modernize casino payment capabilities on a global scale.”
Victor Newsom, SVP Product Management, Payments Solutions at Everi comments “This unique integration combines BitLine’s additional payment accessibility options with Everi’s ability to enable seamless, secure, and regulatory compliant financial transactions for casino patrons. Designed from the ground up to exceed the rigorous compliance demands of the industry as well as the discerning expectations of gaming VIPs around the world, Choctaw’s patrons are now no longer limited to the access, times, amount, and speed constraints of the legacy financial systems. This also significantly reduces risk for our casino customers, such as Choctaw.”
“We are excited to be the first casino in North America to offer our guests another way to play,” said Thomas McDonald, Senior Director of Cage and Credit at Choctaw Casinos & Resorts. “Through our long-term relationship with Everi, a leader in fintech solutions, we will continue to invest in innovative offerings that provide the discerning gaming VIP access to funds in a safe and secure manner.”
The Choctaw Casinos & Resorts integration represents only the first phase of Bitline’s broader mission to bring cryptocurrency solutions to casinos and casino patrons worldwide. As cryptocurrency and digital assets continue to gain traction in the gaming sector, Bitline’s easy to integrate and patented payment model stands poised to become a key player in transforming gaming finance. Future plans include expanding services across other major casinos and gaming markets, both domestically and internationally, establishing cryptocurrency as a new standard feature of the gaming experience.
The solution is to be formally rolled out on March 7, 2025, with the first transaction taking place at Choctaw’s Durant, Oklahoma, location.
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