Cantor Fitzgerald Brings Trading Technology To The Vegas Strip
Monday, 8. March 2010

You’re lying by the pool in Las Vegas, it’s a beautiful day, a frosty fruity drink is at your side; everything is perfect….or is it? As lovely as the pool, the day and the frosty fruity beverage might be; you still can’t get it out of your mind that you’re missing the action at the tables. Well, thanks to the Wall Street firm Cantor Fitzgerald, this won’t be the case for much longer. Cantor Fitzgerald has developed a mobile tablet know as the eDeck that not only allows its users to play a variety of casino games like roulette but also wager in “in-running” sports betting. “In-running” betting involves wagers over the course of a particular game; as the action unfolds, there are a host of new bets that can be made. The result is thousands of different possible bets that can be made surrounding one particular game. With the eDeck, casino games and “in-running” betting are possible from anywhere on the hotel’s property.

The division of Cantor Fitzgerald responsible for this venture is Cantor Gaming. Cantor Gaming is run by Lee Amaitis, Cantor Fitgerald’s former number two. In 2001, Lee Amaitis got the idea that Canter Fitzgerald’s highly sophisticated trading platform could be used to support mobile betting. He felt that the sophisticated algorithms utilized in conducting high-speed trades could also be used to generate real time odds as a game was unfolding. Amaitis first lobbied the Nevada Gaming Control Board to allow Cantor Gaming to run a mobile sports book service; however the Nevada Gaming Board felt it was almost impossible to police and that there was too much liability.

Cantor Fitzgerald decided to develop its own device, the eDeck. The eDeck allows people to eat at restaurants, work out at the gym; do whatever they like wherever they like and as long as they are on the casino’s property they will still be able to take part in “in-running” sports betting and casino games.

Amaitis has had great deal of success in marketing the eDeck to the big casinos, even in these days of deflated gambling revenues. To date, he has made deals with Las Vegas Sands, owners of the M Resort, the Venetian and the Palzzo and expects three more casinos to sign on this year.

The sports betting market in the U.S. is estimated at $380 million with only a tiny fraction of that being legal. What Cantor Fitzgerald provides is something that bookies cannot…real time odds. Since the eDeck’s launch at the M Resort last year, Cantor Fitzgerald’s platform is now used for 5% of all of the sports betting at the hotel.

If you can’t wait to get to Las Vegas to place a bet, you can always go to bet365 and join today.