These two contests are better for the bettor

By Jeff Haney

Tuesday, March 3, 2009 | 2 a.m.

It’s the next-best thing to a “free-roll” — a betting situation in which you can win or push but not lose — or an “overlay” — a proposition in which the odds favor the bettor rather than the house.

Two betting contests based on the NCAA basketball tournament have opened for registration at competing sports books in Nevada, and both will return at least 100 percent of the entry fees in prize money.

That’s a significant consideration in entering sports-gambling contests for an obvious reason: From a player’s perspective, the less money the house holds, the better.

The contests, available at the Leroy’s and Lucky’s race and sports books, have different formats but equally attractive payout structures.

The Lucky’s contest has a guaranteed total payout of $10,000, meaning it could end up as an overlay depending on how many people enter. First place is scheduled to pay $5,000, second place $2,500 and third place $1,500, with $1,000 going to the contestant with the most wins in Rounds 1 and 2 (games of Thursday, March 19, through Sunday, March 22).

Entries in the Lucky’s contest are $10 apiece, and contestants who buy three entries receive a fourth free. Each contestant is limited to four total entries.

The contest entails picking the winning side in each game of the tournament, from the first round March 19 through the championship game Monday, April 6, against a contest point spread posted on a sheet issued daily. All point spreads will use half-points in the line, so there will be no ties against the spread. The “opening round,” or play-in game, of Tuesday, March 17, is not included.

The scoring format is simple: Each winning selection will be credited as one win, and the total number of wins accumulated during the contest will determine the overall winners.

Daily deadlines vary according to the games scheduled on each day of the tournament. For example, the contest sheets for the first two days of play will be available Wednesday, March 18. The selection submission periods for those two days are 9 a.m. March 18 through 9 a.m. March 19 and 10 a.m. March 19 through 9 a.m. March 20.

Registration for the contest begins Monday and continues through 8 a.m. March 19.

Contestants who fail to submit their daily selections by the deadline will be awarded zero wins for the day.

In a nice touch, contest standings are scheduled to be posted online each day at betatluckys.com. Lucky’s sports books are at the Plaza and Terrible’s in Las Vegas, three Primm properties, Terrible’s Town in Pahrump, the Grand Sierra in Reno, Casino Fandango in Carson City and the Red Lion in Elko.

The Leroy’s contest carries an entry fee of $25 with a limit of five entries per person.

Contestants pick just one game each day of the NCAA basketball tournament against a point spread issued by Leroy’s and advance in the contest until they rack up three losses against the spread. Half-points are used so there will be no ties against the betting line.

Entrants must submit their daily selection at any Leroy’s location before the game starts. Failure to submit a selection will result in a loss for that day.

The contest will pay 100 percent of the prize money to the winner, and the prize money will be split if more than one entrant remains alive at the conclusion of the tournament.

The deadline for entry is 7 p.m. March 18. Entries are available at any of Leroy’s 61 locations throughout Nevada.

Derby watch

One of the 3-year-olds in my “stable” of horses in the Las Vegas Hilton “Superbook”/Letitride.com Kentucky Derby Future Book Challenge took a hit this weekend when Capt. Candyman Can was dominated by Quality Road in the Grade 2 Fountain of Youth Stakes at Gulfstream.

I had selected Capt. Candyman Can last month at odds of 22-1, but he could be off the Kentucky Derby trail entirely after failing to fire in a fourth-place finish Saturday.

I have higher hopes for The Pamplemousse, also in my stable at 30-1, after his impressive victory in the Grade 3 Sham Stakes at Santa Anita.

Old Fashioned, a son of Unbridled’s Song trained by Larry Jones, has emerged as the Derby favorite at odds of 8-1 on the early line after winning four consecutive races to start his career.