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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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US$30M DUBAI WORLD CUP -
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NHL Odds: Forsberg Faces Elliott in Nashville -
The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.
NBA Odds: Hawks, Wiz in Southeast Showdown -
The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.
NBA Odds: Clippers Try to Slow Down Bucks in LA -
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The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.
NHL Odds: Reeling Flyers Seek Relief in Pittsburgh -
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Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.
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