Giants winning outright costs sports books record $2.6M

[Bronco Yoda]

LAS VEGAS -- Nevada sports books lost a record $2.6 million on Super Bowl bets when the New York Giants upset the New England Patriots 17-14, gambling regulators said Tuesday.

A flood of small bets came in on the Giants, who were 12-point underdogs against undefeated New England, the Goliath that looked unbeatable.

"People came into Las Vegas and they wanted to root for David," said Jay Kornegay, the executive director of the Las Vegas Hilton race and sports book. "The anticipated large wagers that we expected on the Patriots just never materialized.".....

"The Giants turned out to be public darlings...Even in Las Vegas casinos, the fans backed the Giants in large numbers, he said.

"When the Giants did something good, it was about 70-30 applause as opposed to when the Patriots did something good," Vaccaro said...


>>>...http://sports.espn.go.com/nfl/playof...ory?id=3232876

[400HZ]

I felt like the Vegas lines got progressively dumber as the year went along. It was a great year to be a gambling addict.

[-Slap-]

The sportsbooks did just fine this year. They always cry like stuck pigs when they lose. Even a nice guy and loyal Bronco fan like Jay Kornegay.

[Bronco Yoda]

I would have bet the odds in a heartbeat. Not straight up...but the odds were a no-brainer IMO.

Obviously the Books were clueless to the emotional sentiment of this game. How could they have been caught off guard this badly.

[24champ]

Vegas makes Hundreds of Billions of Dollars. This is ****ing chump change and won't hurt anyone. If anything, those that won probably spent some of it in the Casinos.

[MileHighMagic]

If you haven't been to Vegas for the big show, you gotta get there someday. It's as loud as any sporting event I have ever been to. Way crazier though. People just go ape **** on every series. It's great!! Plus, there are celebrities everywhere... which brings out the hot skanks.

The casinos jack the prices on every table game that weekend though.

[400HZ]

Originally Posted by Bronco Yoda

I would have bet the odds in a heartbeat. Not straight up...but the odds were a no-brainer IMO.

Obviously the Books were clueless to the emotional sentiment of this game. How could they have been caught off guard this badly.

A 12 point line was just dumb. The Patsies only covered once in their last like 10 games. It felt like the oddsmakers were setting the mark based on what ESPN told them for at least the whole second half of the season, and not just in regards to NE.

[-Slap-]

Originally Posted by 400HZ

A 12 point line was just dumb. The Patsies only covered once in their last like 10 games. It felt like the oddsmakers were setting the mark based on what ESPN told them for at least the whole second half of the season, and not just in regards to NE.

Hold your entries, folks. We have a winner for the most misinformed post of the year.

[Bronco Yoda]

Originally Posted by 24champbailey

Vegas makes Hundreds of Billions of Dollars. This is ****ing chump change and won't hurt anyone. If anything, those that won probably spent some of it in the Casinos.

That's not the point here.

The last time the casinos lost money on the Super Bowl was in 1995, when the San Francisco 49ers blew out the San Diego Chargers, 49-26, and Nevada books lost $400,000.

The point is how they got sucked into this 19-0 media circle jerk even though these two teams played just weeks earlier with a 3 point game. A game in which the Giants didn't show everything and had to play the very next week while the Pats were playing for their immortality.

[TheDave]

I'm suprised that is all they last... I heard from a couple of people that nearly 80% of the money was on the Giants.

[Merlin]

Originally Posted by -Slap-

Hold your entries, folks. We have a winner for the most misinformed post of the year.

Slap, the Pats didn't cover in about 9 of their last games.

[Kaylore]

Originally Posted by Bronco Yoda

I would have bet the odds in a heartbeat. Not straight up...but the odds were a no-brainer IMO.

Obviously the Books were clueless to the emotional sentiment of this game. How could they have been caught off guard this badly.

No kidding. They picked the spread. You win some and you lose some.

[Beantown Bronco]

$2.6 mil is a drop in the bucket to those jokers. Hell, they lose twice that amount at the buffet tables every time Bob heads out there.

[400HZ]

Originally Posted by -Slap-

Hold your entries, folks. We have a winner for the most misinformed post of the year.

Between that game against Philly when they were 20 point favorites or whatever it was, and the end of the season, they covered once. Against Pittsburgh.

[400HZ]

Let me double check my figures.

[Bronco Yoda]

Originally Posted by Beantown Bronco

$2.6 mil is a drop in the bucket to those jokers. Hell, they lose twice that amount at the buffet tables every time Bob heads out there.

To them I'm thinking it's more about lost opportunity. How many Millions did they bank on actually winning.

[sixtimeseight]

Jesus Christ, are people really this dumb? Oddsmakers in Vegas AREN'T TRYING TO PREDICT THE OUTCOME OF THE GAME. They are setting a line that will get equal action on both sides. If enough idiot New England homers would bet on NE with a -50 point line, that's what they'd set it at.

[400HZ]

Originally Posted by sixtimeseight

Jesus Christ, are people really this dumb? Oddsmakers in Vegas AREN'T TRYING TO PREDICT THE OUTCOME OF THE GAME. They are setting a line that will get equal action on both sides. If enough idiot New England homers would bet on NE with a -50 point line, that's what they'd set it at.

And they obviously didn't set a good line. They should have known that 12 points was excessive. Gamblers obviously did if the sports books are posting a loss.

[-Slap-]

Originally Posted by sixtimeseight

Jesus Christ, are people really this dumb? Oddsmakers in Vegas AREN'T TRYING TO PREDICT THE OUTCOME OF THE GAME. They are setting a line that will get equal action on both sides. If enough idiot New England homers would bet on NE with a -50 point line, that's what they'd set it at.

They don't understand the process.

The books lost most of their action on money line plays which they paid out at roughly +350. The handle on line action was not as lopsided as was reported. Had they been writing 80% of their tickets on the underdog, the line would have moved a lot more than it did. A buddy of mine got one of the few 14s that appeared, but most books never moved the line more than a point off the opening number of 13.5.

[Bronco Yoda]

Originally Posted by 400HZ

And they obviously didn't set a good line. They should have known that 12 points was excessive. Gamblers obviously did if the sports books are posting a loss.

shhhh.... sixtimeseight is working on his multiplication table. Next hopefully it's his reading comprehension. Then again, he's so much smarter than the rest of us already

[Popps]

2.6 Million, huh?

Rough news for the sports books. That's going to set them back a week, possibly two.

[jonny1]

It's not mentioned above, but I believe I read that they lost the money on people who bet on the Giants to win outright.

If a whole lot of people were betting for the Giants on the line, the line would have come down.

[Bronco Yoda]

Yes, that's all in the article for those who took the time to click on the link..

"Making matters worse for the casinos, many gamblers bet the Giants to win outright on the "money line" and won payouts of up to $475 for every $100 wagered."

These were 'feel good' bets. Probably small in amount but a huge amount of them. Even though the media was bombarding everyone with the fact that 19-0 was already in the books, a huge amount of gamblers laid down win outright contrary to what the media was shoveling.

That's the real story here... not how little the Casino actually lost, or how much they could have won but rather how many people bet contrary to the talking heads. And they were small bets so they were obviously feel good bets.

And not nearly enough Pats fans were going to lay down big money. Obviously didn't buy into the 14 points... or even 12 points either. They knew better as well.

The talking heads were and still are framing this years huge tv market share as everyone wanting to see the pats go 19-0. When in fact it was really the other way around. Most people wanted to see the Pats go down... I finally got through to my Patriots friend back east today. He's still in total Bostonian denial. "It sucks for all of us... all football fans. we could have witnessed greatness". He still believes the whole world was rooting them on.


It's not a huge deal. Just another interesting side bar to what is the Super Bowl.

[HAT]

Wow...I feel dumber just for reading this thread.
Only 2 people with a clue.

[sixtimeseight]

Originally Posted by Bronco Yoda

shhhh.... sixtimeseight is working on his multiplication table. Next hopefully it's his reading comprehension. Then again, he's so much smarter than the rest of us already

Wow, you really are dense. They didn't lose money on the spread, they lost it on the money line, meaning the spread was set correctly. But keep lobbing out those ad hominem attacks, they really make you look smart and big.