Gambling: Sportsbooks Banning the Smart Money (WMH: Lon; WIMHY)

From ESPN:

Already a hot-button issue in the United Kingdom, a controversial bookmaking practice is starting to spread in the U.S.'s growing legal sports betting market, too.

Bookmakers from London to Las Vegas are refusing to take bets from a growing number of customers whose only offense might be trying to win.

The full scope of the issue in the U.K. is difficult to determine, but it's believed only a small fraction of the roughly 8.5 million "punters" (the European term for bettors) are impacted. Gaming experts say sportsbooks might have closed as many as 50,000 betting accounts in recent years, and just as many punters have had their betting limits restricted to mere pittance.

As one U.K. bettor put it, "If you try to win, they don't let you play anymore."

"Yes, bookmakers are severely restricting or closing accounts for what appears to be the fact that these people are winning," said U.K. gambling consultant Steve Donoughue, secretariat for an all-party parliamentary group that focuses on gaming.

"The hilariousness of it," Donoughue added, "is that they restricted one of my member's accounts, and he's a Lord."

The profit-minded corporations that have entered the bookmaking game, however, look at it from the perspective of their bottom line and wonder what business would ever choose to cater to customers thought to be "uneconomical." It's like encouraging a world-class competitive eater to dine often at your all-you-can-eat buffet.

American sports betting is not immune to the practice. Banning or limiting sophisticated players has been a regular part of Las Vegas sports betting for decades, and, like in the U.K., there's absolutely nothing illegal about it.

Bettors say the practice is increasing and has even occurred in some of the new states (such as New Jersey) that have entered into the now-legal bookmaking game in recent months.

"Americans should be worried," said Brian Chappell, a founder for the U.K. bettor advocacy group Justice for Punters. "It's coming."

---

A reputation for sportsbook giant William Hill
In Nevada, refusing to take bets from any customer, from card counters to wise-guy sports bettors, is completely within any casino's legal rights. From Caesars Palace to the Venetian to more local spots like Station Casinos, every bookmaker in town will tell you -- albeit somewhat quietly -- that they've 86'd customers for one reason or another.

Seasoned bettors are concerned, though, that the practice of banning or limiting accounts is not only increasing, but the reasoning behind the decisions is becoming more and more suspect.

Many believe that the only thing betting intelligently will get you at some shops is a one-way ticket to being thrown out. An iconic U.K. bookmaker that's rapidly growing its footprint in the U.S. is said to be by far the most aggressive with the tactic.

ESPN communicated with 20 bettors for this article who said they had been banned from betting with William Hill U.S. in Nevada. Two said they already have been cut off at the new William Hill books in New Jersey, too, something the Division of Gaming Enforcement is reviewing.

"In our world, our community," said Joe Fortuna, one of the professional bettors who says he was cut off by William Hill in Nevada, "everyone knows you'll get thrown out of there."

"It's not even really close," said another Las Vegas bettor who had been restricted by William Hill and requested anonymity. "They're by far the worst."...MUCH MORE