Posted on: October 4, 2024, 10:37h.
Last updated on: October 4, 2024, 10:37h.
The Fanatics Sportsbook at Ocean Casino Resort in Atlantic City isn’t taking action on the Detroit Tigers’ Major League Baseball Postseason run.
On Wednesday, the Tigers capped off their upset of the Houston Astros in a two-game sweep during the American League Wild Card Series. Detroit advances to take on the Cleveland Guardians in a best-of-five AL Division Series.
The Tigers weren’t supposed to be here. On Aug. 10, Detroit was 10 games out of a playoff sport and the team’s odds of reaching the postseason were at 0.2%.
An unlikeliest of runs saw the Tigers finish 31-13 down the stretch to allow the team to grab the final playoff spot after they upset the Orioles in Baltimore on Sept. 22.
In early September, DraftKings had Detroit at 600/1 to win the 2024 World Series, or implied odds of 0.17%. Now into the ALDS, the Tigers have shortened to just +950, or implied odds of 9.52%.
Ocean Book Banned From Tigers Action
The run has paid off for the Tigers’ faithful fans who bet money on the team, but the sportsbook down the New Jersey shore at Ocean hasn’t taken a single dollar on the team throughout. That’s because the resort on the northern end of the Atlantic City Boardwalk is partially owned by Ilitch Holdings, Inc.
Ilitch Holdings is the conglomerate of Marian Ilitch and her late husband, Mike Ilitch. In 1959, the couple founded the Little Caesars Pizza empire. The Ilitch family continues to privately own the pizza chain.
Little Caesars made the Ilitchs billionaires several times over. The family’s vast wealth, estimated by Forbes to be nearly $4 billion, allowed the Illitchs to venture into owning several sports franchises.
The Detroit natives own the MLB Tigers and NHL Detroit Red Wings. Because of Ilitch’s control of the Tigers, and Ilitch Holdings’ 50% stake in Ocean Casino Resort, the Fanatics Sportsbook at the property is barred from accepting action on the baseball team’s games.
The direct or indirect legal or beneficial owner of 10 percent or more of a sports governing body or any of its member teams shall not place or accept any wager on a sports event in which any member team of that sports governing body participates,” New Jersey’s sports betting regulations state.
However, since Fanatics’ mobile book in New Jersey is licensed through a partnership with Bally’s, the sportsbook is taking action on the Tigers online.
Ilitch Holdings bought its position in Ocean in 2021 for $175 million. Much of the money went towards finishing the 464 hotel rooms that were never completed when the property first opened as Revel in 2012.
Along with Ocean, Ilitch owns Detroit’s MotorCity Casino Hotel. MotorCity’s FanDuel Sportsbook can take bets on the Tigers because Michigan’s sports betting law doesn’t prohibit sports team owners that control casinos from offering lines on their franchises.
Stevens’ Big Bet
Derek Stevens, a Michigan native who owns Circa and The D in downtown Las Vegas, regularly bets big on his beloved teams. The casino tycoon revealed he has some action on the Tigers this year.
Stevens shared on X that he put $1,000 on the Tigers to win the American League on Oct. 24 with BetMGM. If Detroit can get past the Guardians and then either the Kansas City Royals or New York Yankees in the best-of-seven American League Championship Series, Stevens’ bet would net $200,000.
Stevens also has $1,000 on Detroit to win the World Series. That bet would net $500,000.
Detroit is +105 underdogs to win the ALDS series against Cleveland. Game 1 is tomorrow.
