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Vegas Sports Books Crushed in 2012
January 3, 2013 : VEGAS SPORTS BOOKS TAKE A HAMMERING IN 2012
Big losses for bookies as many popular NFL teams beat the points spread
The Los Angeles Times and other media report that Vegas sports books took a serious, multi-million dollar financial hammering in 2012 as many popular NFL teams beat the points spread during the regular season.
Many punters combined their picks in parlays, turning $20 wagers into pay-outs of more than $1,000, depending on how many winning bets they combined.
Jay Kornegay, a 25-year veteran who heads the Las Vegas Hotel & Casino’s Race and Sports book, told the LA Times:
“We know the general public now has tremendous sources of information; that the regular player is sharper than the guy 10 years ago, but we’ve never seen a streak like this before.”
Kornegay said Week 9 of the NFL season was especially cruel, with Vegas-backed underdogs finishing 2-10 against the point spread, while seven games that day finished “over” the game’s projected total-points-scored line.
MGM Resorts, the city’s largest sports bookmaker, was apparently forced to summon emergency deliveries of cash to pay off its losses.
“It’s like you’re a passenger trapped on a train to hell,” said Jay Rood, whose 12 MGM Resorts’ sports books at properties including Mandalay Bay, Mirage and Bellagio took a seven-figure hit that day.
Business Insider reported that of the 12 NFL play-off teams, only Baltimore had a losing record against the spread, and the books were further killed on preseason over/under prop bets.
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NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday -
Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.
Pro League Reveals Sportradar Contract Details -
The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.
NFL Odds: Steelers Visit Undefeated Chiefs #TNF -
The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.
Mega Moolah strikes again -
The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.
2 New Slots For Microgaming Casinos -
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MLS Odds: Red Bulls vs. Whitecaps -
The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.
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