Big Country Posted October 8, 2010 Share Posted October 8, 2010 $100K Buy-In Pool LAS VEGAS – A new season-long football pool at a Las Vegas casino is taking America's favorite gambling sport to new heights, with a $100,000 buy-in and a $490,000 top prize. The NFL handicapping pool run by the M Resort cost $10,000 more to enter than the average sale price of a Las Vegas condominium in August. Seven entrants — including some top prognosticators and a couple deep-pocketed amateurs — must pick the winners of five NFL games each week against the spread, with a point system tallying wins, ties and losses. It's similar to other contests across the nation, but this pricey pigskin pool is now the most exclusive competition around. "This is the biggest, baddest, strongest, fastest football contest in the world," said Steve Fezzik, a professional sports gambler who's competing. He won more than $400,000 by winning the Las Vegas Hilton's annual handicapping contest two years in a row. That contest attracts hundreds of entrants each year with a $1,500 buy-in, making Fezzik's wins the past two seasons about as improbable as winning a major poker tournament twice in a row. In the M Resort contest, second place brings $140,000, and third place gets $70,000. The stakes might make most people cringe, but big-time gamblers have put up much more betting on all aspects of games. The late Vegas casino developer Bob Stupak, for example, once bet $1 million on the Super Bowl and won, taking the Cincinnati Bengals in 1989. Mike Colbert, race and sports director for Cantor Gaming, which runs the M Resort's sports book, said risk is what the high stakes pigskin pool was designed for. "I don't think it's a contest for the average guy," Colbert said. "You're not dealing with anyone in this contest with less than a seven-figure bankroll." Later in the season, Fezzik said he'll likely make moves based on his standings and what he thinks his opponents will do. To pick games, he spends a couple nights each week poring over any information he can get and comparing opinions with other gamblers he trusts. After four weeks, Fezzik is in the middle of the pack at 11-9, among three entrants two games behind two opponents who share the lead, Colbert said. Despite professionals hawking picks they say are 70 percent winners, Fezzik said it's incredibly hard to pick better than 57 percent against the spread over an entire year. "People are asking me, 'You know, what's the best advice with these contests,'" he said. "And I would say play really well and just get obscenely lucky." Quote Link to comment Share on other sites More sharing options...
CowboysDiehard Posted October 8, 2010 Share Posted October 8, 2010 Not sure why you would risk 100k to win only 490k, unless you consider that amount pocket change. Quote Link to comment Share on other sites More sharing options...
DMD Posted October 8, 2010 Share Posted October 8, 2010 I can't believe he is only 11-9 and two games back of the leader. Quote Link to comment Share on other sites More sharing options...
CowboysDiehard Posted October 8, 2010 Share Posted October 8, 2010 I can't believe he is only 11-9 and two games back of the leader. This year has been crazy. I gave up a couple weeks ago. Quote Link to comment Share on other sites More sharing options...
No2011Lockout Posted October 8, 2010 Share Posted October 8, 2010 Not sure why you would risk 100k to win only 490k, unless you consider that amount pocket change. I agree, not smart bankroll mgmt. Quote Link to comment Share on other sites More sharing options...
Dutch Oven Posted October 8, 2010 Share Posted October 8, 2010 Not sure why you would risk 100k to win only 490k, unless you consider that amount pocket change. +1. Sh*tty return on that much cash. Quote Link to comment Share on other sites More sharing options...
Big John Posted October 8, 2010 Share Posted October 8, 2010 Not sure why you would risk 100k to win only 490k, unless you consider that amount pocket change. And $800K in paid into the kitty, and only $700K is paid out in winnings. Quote Link to comment Share on other sites More sharing options...
Big Country Posted October 8, 2010 Author Share Posted October 8, 2010 (edited) And $800K in paid into the kitty, and only $700K is paid out in winnings. Article says only 7 entrants, so appears to be a 100% payout Edited October 8, 2010 by Big Country Quote Link to comment Share on other sites More sharing options...
CaptainHook Posted October 8, 2010 Share Posted October 8, 2010 We all know Henry Muto is in already. Probably twice. Quote Link to comment Share on other sites More sharing options...
Big Country Posted October 8, 2010 Author Share Posted October 8, 2010 Not sure why you would risk 100k to win only 490k, unless you consider that amount pocket change. +1. Sh*tty return on that much cash. Well, there are only 7 people competing, with 3 places getting paid (granted, 3rd isn't for full return of 100K), but as long as you believed you were better than the others, or really better than the average, getting 4.9 to 1 on your money is not that bad. Quote Link to comment Share on other sites More sharing options...
gbpfan1231 Posted October 8, 2010 Share Posted October 8, 2010 Not sure why you would risk 100k to win only 490k, unless you consider that amount pocket change. You would not get in a $10 pool with 6 other people and it pays top 3 with first being $49? I would. Quote Link to comment Share on other sites More sharing options...
Jackass Posted October 8, 2010 Share Posted October 8, 2010 Not sure why you would risk 100k to win only 490k, unless you consider that amount pocket change. well, you could buy 100,000 lottery tickets if you wanted a bigger payout. Quote Link to comment Share on other sites More sharing options...
Delicious_bass Posted October 9, 2010 Share Posted October 9, 2010 Think this guy is in? Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.