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Slim Superbowl Earnings For Casinos

Posted 2/9/11 : Sports books report lowest win since 1998
 
It was slim pickings for licensed Las Vegas sports books last weekend, when the Super Bowl football final between Green Bay Packers and the Pittsburgh Steelers played out in Arlington, Texas.
 
It wasn’t for want of wagers – the gamblers turned out in force – so much as the result going generally against the bookies, ESPN reports.
 
The Nevada Gaming Commission gave a figure of $87.5 million wagered across 183 sports books in the state, which has exclusivity on legal sports betting in the US; from this, the bookies scored only $724 000.
 
"I can't say I've got a cheese head in my office right now," Jay Kornegay, executive director of the race and sports book at the Las Vegas Hilton, told ESPN in a reference to the win by the Packers.
 
Green Bay beat the Steelers 31-25 Sunday night. The Packers were a 2½-point favorite in most Las Vegas casinos, giving their supporters a win with the six-point victory. The combined 56 points scored helped bettors who gambled that the total would go over about 45 points.
 
Gamblers wagered 5.5 percent more this year than last year, when Nevada casinos won $6.9 million on $82.7 million in Super Bowl bets.
 
ESPN researchers report that the casinos have lost only once on the Super Bowl in the last 10 years; in 2008 when bettors gambled $92 million and casinos lost $2.57 million as the New York Giants beat New England.
 
This year was the slimmest winning Super Bowl for casinos since 1998, when books won $472,000 on $77.2 million in wagers.

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Gambling News :

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

SOUTH KOREANS BUSTED IN THAILAND ON ONLINE GAMBLING CHARGES - Those detained were named as Jeong Kyujin (35), Han Kyoreh (26), Choi Sung Ming (35) and Bae Jeonghwan (26), all of whom claimed that they had bene hired by a Korean man to operate online gambling sites.

China Lottery Sales Up in 2016 - The Chinese official news agency Xinghua reports that according to figures from the Ministry of Finance released Monday, Chinese lottery sales in 2016 rose 7.3 percent year-on-year to 394.64 billion yuan (about US$57.53 billion).

New chairman and a new director for 500.com - Chinese online lottery operator 500.com has announced major executive changes to the company with the apparently amicable departure of director and chairman Man San Law, as well as director Weiguo Zhao from its board of directors, effective January 20, 2017.

Russian betting Sites to face rise in tax rates - Online bookies also pay a 1 percent commission on each transaction through the TSUPIS, and face levies at 5 percent of GGR to assist Russian sports federations.

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