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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.
Gambling News :
Oink Country Love Slot Launches -
Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.
Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
Pokerstars Pulls Out Of Coloumbia -
Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.
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