Vaccaro’s View by Jimmy Vaccaro | Webster’s defines the word idea as "a plan for action."
Now a lot of us have plans and we like action, but how does it come together in sports gambling? On the south side of the counter you want action. The other side wants to gamble, but with an idea that can create synergy and a random result that would make the 11-10 work well in the long run.
I have had hundreds of ideas over the years and am batting about 50 percent, which is all anyone can expect. To think you are going to win them all is a mistake. At times we pull things off the shelf if they do not show a good profit at once. This in turn will curb the creative side.
You must have some patience and belief in what you’re doing and hold on for awhile. I will mention some good ones and bad, hoping to bat 50 percent from here on out.
A good one is NFL regular season wins, brought about by one customer at the Golden Nugget asking for the Dallas Cowboys. The futures prop is still in use today and has broadened into other sports. I didn’t beat it every year, but it was worth the wager.
A bad idea was in progress quarter betting. First and goal from the 8 and the dog is down by 4 with the ball. I made the dog -3. What do you do with it?
Because of only a few minutes between quarters, the scene at the Mirage was like the film "Trading Places" when they opened bidding on O.J. futures. A bad idea.
A good idea: The Mike Tyson-Buster Douglas fight with us the only place from here to Pluto to offer a bet number. And did we write tickets on this baby! If memory serves me correct, we wrote nearly $7 million on a fight that was out of the country and on tape delay.
When Douglas came up with the upset, we made a great payday and were featured on every talk and TV show in existence. I ran into (Mirage owner) Steve Wynn a few days after the fight and he grabbed me by the shoulder and sternly said "What are you doing back there?"
I thought I was in trouble, but as the big grin came over his face he said, "Go back there and think of something else." A great idea.
Bad idea: The Pat Lawlor-Roberto Duran fight that was the undercard to Tyson-Razor Ruddock. This was coming off a rare Duran loss, so I thought I would pick up a bet. I posted Duran 30-1 over Lawlor. If anyone ever got a gander at Pat, he was a guy straight out of "tough guy fights" who wore a hat with a ball on top when he entered the ring.
Bingo, Duran quits in round 6. We blow about $54,000 on a walkover. We could have won, but the bad idea side came from me pushing something that wasn’t necessary.
Ideas should be thought out. Get a few opinions from people you respect and act on it. After all, what is the worst that can happen besides losing your job? There is always another idea.
Next week: Women in the race and sports place.