Forget Betting on NFL Games, Wager on Fantasy Performances!

I probably wouldn’t have seen this story if I didn’t have a merger arbitrage position in Station Casinos (STN), but I’m glad I did. It turns out that Station sports books in Vegas are now going to let you bet on your fantasy football players. Here is the first couple paragraphs of the AP story:

Vegas Sports Book to Take Fantasy Bets

Thursday August 30, 12:33 pm ET

By John Mcfarland, Associated Press Writer

Las Vegas Sports Book to Start Taking Bets on Players’ Projected Fantasy Statistics

The billion-dollar business of fantasy football is getting another new player: Las Vegas oddsmakers. Station Casinos Inc., the fifth-largest sports book in the country, was to become the first to release a betting line — at 7 p.m. EDT — and start taking wagers based on players’ projected fantasy statistics.

So instead of plunking down a bet on whether the Saints will beat the Colts next week, or how many points will be scored, a better in Vegas can wager that Reggie Bush will finish with more than 16 fantasy points. Or that Peyton Manning might be under 21.

I can just see it now. People betting against their own fantasy roster to ensure they win some cash, either from their bets or from winning their fantasy league. It really is a good idea for Station though, as I have no doubt there will be enough people doing this to make it worthwhile for their books.

Full Disclosure: Long shares of Station Casinos until the merger closes