Betting frenzy: Wagers big part of March Madness

Jace Radke

Thursday, March 14, 2002 | 11:07 a.m.

Howard Shaffer, in Las Vegas on business, is more than 2,000 miles from his Mansfield, Ohio, office. Still, his travels won't prevent him participating in the annual spring ritual that is March Madness.

"I made sure to get my bracket in to the guy who runs our office pool in Ohio, before I left on my business trip to Las Vegas," Shaffer said as he grabbed a bite Tuesday night at the Instant Replay sports bar at the corner of Warm Springs Road and Marks Street.

"I don't really know too much beyond the favorites, but I wouldn't miss it. The pool only costs a buck to enter, and it's fun."

Shaffer, an engineer for Shafer Valve Co., doesn't really follow college basketball, but that detail matters little to him and millions of Americans who wager on the annual NCAA men's basketball tournament, which opened with 16 first-round games today.

Whether it's through office pools, online contests, bookies or Nevada sports books, March Madness means big money, said Cesar Robaina, odds manager for Las Vegas Sports Consultants, which sets betting lines for casinos in Nevada and abroad.

"Probably $60 million will be bet legally in Nevada sports books over the course of the tournament," Robaina said. "The Super Bowl and March Madness are the two biggest events of the year for gambling, but there will be more (individual) bets for the tournament."

Experts estimate that more than $7 billion will be bet legally and illegally on the tournament during the next three weekends.

Jack Sperry, a native of Dayton, Ohio, has traveled to Las Vegas to bet on the tournament every year for the past decade, and even has made a deal with his wife to ensure that his annual trip would continue.

"Before we got married I videotaped my wife saying it was OK for me to come to Las Vegas with my buddies every year for the tournament," Sperry said Wednesday night at the Stardust sports book. "We don't have a prenuptial agreement, but we do have the video."

Sperry and a group of about 20 friends have made the trip since their college fraternity days at Ohio State. He used to play office pools, he said.

"Vegas is the real thing, so I don't mess with the office pools anymore," Sperry said. "We just make our bets here and then live at the sports book for the weekend."

Although Shaffer could bet while in town, he says he'll stick with the office pool.

"I'm not comfortable with actually putting money on my picks," Shaffer said. "I don't study the teams or get into breaking down the brackets, I just kind of go with the favorites and a couple upsets."

Office pools provide a way for people who aren't in Nevada and don't want to make a serious wager to become part of the tournament, said professor Bill Eadington of the University of Nevada, Reno's Institute for the Study of Gambling and Commercial Gaming.

"Part of the reason people do these pools is because of the camaraderie," Eadington said. "It's a chance for the casual fan or those who aren't fans at all to get involved."

Technically, the tournament pools are illegal, but for the most part they slip below law enforcement's radar.

"This town was basically built on gaming," Metro Police Sgt. Chris Darcy said. "Most office pools are small, with only $10 or $20 wagered, and we're not going to spend our time and resources tracking them down. If a large illegal gambling operation comes to light, it would be something that we and gaming control would investigate."

Dennis Neilander, chairman of the Nevada Gaming Control Board, said tournament pools aren't considered commercial gaming and don't necessarily fall under the board's jurisdiction.

"As long as the house is not taking a cut, it's not really commercial gambling," Neilander said. "It's akin to having a friendly card game at someone's residence."

Some residents, including Las Vegas Mayor Oscar Goodman, see a pool as a harmless way to make the tournament a bit more interesting.

"I've got a private pool, but it's not city-sanctioned -- yet," said Goodman, who is picking Oklahoma to win it all.

Sports book operators say the proliferation of pools has had little impact on casino wagering.

"If anything, the impact may be a positive for us," said Sid Diamond, sports book director at the Casino at the Resort at Summerlin. "As long as people are talking about basketball I think it's good for the sports book. The office pools probably stimulate interest, and that could lead to some more bets."

Stardust sports book director Joe Lupo said the majority of bets in casinos are going to be made by basketball fans.

"The office pools are a part of everyday culture across the United States, and they have been going on so long that I think whatever effect they might have on our customers is already built-in," Lupo said. "We're going to get the hardcore basketball fan that will be in the book from 8 a.m. to 9 p.m. living and dying hoops."

Sperry expects to meet a friend from Houston who is a walking example of the demographic Lupo says will be packing his sports book.

"This guy comes every year and he is in the sports book at 5 a.m. for the games," Sperry said. "He has to sit in the third row, with his Cincinnati Reds cap on backward, drinking Maker's Mark and Coke and smoking a cigar.

"It's great for the rest of us, because if we get lost or drunk we can count on him being glued to his seat in the sports book."