[h=1]Vegas' best-ever betting month[/h][h=3]Sportsbooks won $16.98 million on NFL and college football during October[/h]
By David Purdum | ESPN.com
A record $379.9 million was bet on football in October at Nevada sportsbooks, the most ever for one month since gaming regulators began tracking sports betting revenue and $40.8 million more than the previous record set in September.
Yes, the sports betting business is booming in Las Vegas.
"We're happy with our increase in handle and, more importantly, with the increase in the win it's producing," said MGM vice president of race and sports Jay Rood, who estimates his book has seen a 5 percent increase in handle in 2014.
The sportsbooks won $16.98 million on NFL and college football during October and are now up $54.25 million during the first two full months of the season. Nevada Gaming Control does not track NFL and college football separately. The books have not suffered a losing month on football during the regular season since November 2012.
Overall in October, the state's 188 sportsbooks won $27.6 million, which was a 9.06 percent decrease from October 2013. They won $3.77 million on baseball during the month, according to Nevada Gaming Control revenue numbers released last week.
"It was our biggest month in the last couple years in terms of the amount of bets," said Jason Simbal, vice president of race and sports for CG Technology. "The average bet amount is the same, but there's more people betting."
Despite the increased handle, sports betting remains one of the smallest revenue producers for casinos. For example, Nevada casinos won $77.8 million off blackjack in October.
"Sports betting is still a fairly small blip in the radar, but that may not stay the case in the years to come," Rood said. "There might be some winds of change coming down the road, but I see the trend continuing."
Nevada Gaming Control Board - October Revenue Report
Game Win*
Twenty-One $77.82
Craps $30.43
Roulette $33.39
Baccarat $101.15
Sports $27.60
Penny slots $231.18
*Figures in millions
Source: Nevada Gaming Control
Book report
Another week, another win for the books, which have come out ahead in all but one week of the football season.
The MGM, Westgate SuperBook, CG Technology and the Stratosphere sportsbooks all reported profitable Thanksgiving weeks.
The Jacksonville Jaguars rallying from a 21-0 deficit to beat the favored New York Giants 25-24 crushed a ton of parlays and produced Sunday's biggest win for multiple shops.
The Green Bay Packers covering as a 3-point favorite in a 26-21 win over the New England Patriots also helped the books end up ahead. Patriots kicker Stephen Gostkowski missed a 47-yard field goal with 2:40 to play that would have potentially covered the spread.
"That was our biggest win," said Hugh Citron, supervisor at the Stratosphere sportsbook. "We had quite a few limit bets on the Patriots. This was first time all year that I can remember us getting to root for the Packers. Usually we're trying to pull our hair out trying to beat [Aaron] Rodgers."
Saturday also went the way of the books, with a bevy of underdogs covering in the early rivalry games. Michigan covering the 21-point spread with a late fourth-quarter touchdown in a 42-28 loss to Ohio State was a big win for the books, as was underdog Mississippi's outright win over Mississippi State.
Bettors battled back in the late games, though, especially the Iron Bowl. Three times more money was bet on Alabama than Auburn at the MGM. The SuperBook, William Hill, CG Technology and the Stratosphere also were lopsided on the Crimson Tide, who outscored Auburn 34-11 to finish the game and cover as a 10-point favorite in a 55-44 win.
Early college football action
It's been a moneymaking trend all season -- bet against Florida State.
The Seminoles dropped to 3-9 against the spread after failing to cover as a 7-point favorite in a 24-19 win over Florida. That's among the worst ATS records in the nation.
"They're just not a very good team," SuperBook oddsmaker Ed Salmons said. "Right now, as soon as you put a line up on Florida State, there are so many people, sharp players, who just instantly bet against them."
That was again the case when the line on the ACC championship game was released Sunday. Florida State opened as high as a 5-point favorite over Georgia Tech. Early money on the Yellow Jackets shrunk the line down to minus-3.5 as of Monday morning at most books.
"I made it [Florida State] 4.5 and thought it could have been as high as 6.5," Salmons said. "And they still bet it down."
The anti-Seminoles sentiment also is reflected in the SuperBook's updated odds to win the national championship. Florida State, the only undefeated team in the nation, is listed at 10-1, behind Alabama, Oregon, TCU and Baylor.
"Honestly, even 10-1 may be a little light," Salmons said.
Wisconsin attracted early action in the Big Ten championship game against Ohio State, which lost starting quarterback J.T. Barrett to a broken ankle against Michigan. The Badgers opened as a 1-point favorite at CG Technology but were bet up to minus-3.5 as of Monday morning.
Early College Football Lines
Opened at 2 p.m. PT Sunday
Game Opening Monday a.m.
Northern Illinois vs. Bowling Green Northern Illinois -3.5 Northern Illinois -4.5
Arizona vs. Oregon Oregon -14 Oregon -14
Iowa State at TCU TCU -29 TCU -31.5
Kansas State at Baylor NL NL
Oklahoma State at Oklahoma Oklahoma -20.5 Oklahoma -20.5
Missouri vs. Alabama Alabama -13.5 Alabama -14
Florida State vs. Georgia Tech Florida State -5 Florida State -3.5
Wisconsin vs. Ohio State Wisconsin -1 Wisconsin -3.5
Fresno State vs. Boise State Boise State -17.5 Boise State -20
Source: CG Technology sportsbook
Odds & Ends
National Title Game Odds
Team Opening Current
Alabama 5-1 5-4
Oregon 5-1 5-2
TCU 150-1 4-1
Baylor 20-1 8-1
Florida State 10-1 10-1
Ohio State 12-1 15-1
Missouri 60-1 25-1
Georgia Tech 300-1 40-1
Wisconsin 25-1 30-1
Kansas State 60-1 40-1
Arizona 100-1 40-1
Mississippi State 100-1 100-1
Source: Westgate SuperBook
• Bowl lines: The final College Football Playoff rankings will be released at 12:45 p.m. ET Sunday (ESPN). Point spreads on the two semifinal games and some of the other bigger bowls will be out soon after the matchups are released, followed by lines on the full slate of bowls Monday. CG Technology hopes to be the first book up with bowl lines. The Wynn and SuperBook also will post lines on the semifinals and bigger bowl games Sunday.
• Illinois coach Tim Beckman referenced Vegas' preseason expectations of his team in his postgame news conference Saturday. Illinois beat Northwestern 47-33 to finish 6-6 and become bowl eligible. The CG Technology sportsbook set Illinois' season win total at 5.
"I don't think anyone thought we'd win six, at least if you look at the way Vegas thought we were," Beckman told reporters. "I don't think we were predicted to win many games, but we did."
• The sportsbook at the Atlantis Casino and Resort in the Bahamas was prohibited from taking bets on last week's Battle 4 Atlantis college baseball tournament due to the island's gaming regulations.
• A bettor at a CG Technology sportsbook hit a $5,000, five-team NBA parlay Wednesday that paid $45,000. The bettor had Golden State minus-8 over the Orlando, Cleveland minus-7.5 over Washington, San Antonio minus-13 over Indiana, Phoenix minus-7.5 over Denver, and the Los Angeles Lakers plus-7 over Memphis.
• The Nevada Gaming Commission will hold a public hearing Feb. 26 to consider allowing wagering on events sanctioned by the International Olympic Committee. The petition to amend the regulation was filed by the South Point Hotel and Casino. In addition to Olympic events, the casino is asking the NGC to amend regulations to allow wagering on the Heisman Trophy, Cy Young Award and Academy Awards, among other events.
By David Purdum | ESPN.com
A record $379.9 million was bet on football in October at Nevada sportsbooks, the most ever for one month since gaming regulators began tracking sports betting revenue and $40.8 million more than the previous record set in September.
Yes, the sports betting business is booming in Las Vegas.
"We're happy with our increase in handle and, more importantly, with the increase in the win it's producing," said MGM vice president of race and sports Jay Rood, who estimates his book has seen a 5 percent increase in handle in 2014.
The sportsbooks won $16.98 million on NFL and college football during October and are now up $54.25 million during the first two full months of the season. Nevada Gaming Control does not track NFL and college football separately. The books have not suffered a losing month on football during the regular season since November 2012.
Overall in October, the state's 188 sportsbooks won $27.6 million, which was a 9.06 percent decrease from October 2013. They won $3.77 million on baseball during the month, according to Nevada Gaming Control revenue numbers released last week.
"It was our biggest month in the last couple years in terms of the amount of bets," said Jason Simbal, vice president of race and sports for CG Technology. "The average bet amount is the same, but there's more people betting."
Despite the increased handle, sports betting remains one of the smallest revenue producers for casinos. For example, Nevada casinos won $77.8 million off blackjack in October.
"Sports betting is still a fairly small blip in the radar, but that may not stay the case in the years to come," Rood said. "There might be some winds of change coming down the road, but I see the trend continuing."
Nevada Gaming Control Board - October Revenue Report
Game Win*
Twenty-One $77.82
Craps $30.43
Roulette $33.39
Baccarat $101.15
Sports $27.60
Penny slots $231.18
*Figures in millions
Source: Nevada Gaming Control
Book report
Another week, another win for the books, which have come out ahead in all but one week of the football season.
The MGM, Westgate SuperBook, CG Technology and the Stratosphere sportsbooks all reported profitable Thanksgiving weeks.
The Jacksonville Jaguars rallying from a 21-0 deficit to beat the favored New York Giants 25-24 crushed a ton of parlays and produced Sunday's biggest win for multiple shops.
The Green Bay Packers covering as a 3-point favorite in a 26-21 win over the New England Patriots also helped the books end up ahead. Patriots kicker Stephen Gostkowski missed a 47-yard field goal with 2:40 to play that would have potentially covered the spread.
"That was our biggest win," said Hugh Citron, supervisor at the Stratosphere sportsbook. "We had quite a few limit bets on the Patriots. This was first time all year that I can remember us getting to root for the Packers. Usually we're trying to pull our hair out trying to beat [Aaron] Rodgers."
Saturday also went the way of the books, with a bevy of underdogs covering in the early rivalry games. Michigan covering the 21-point spread with a late fourth-quarter touchdown in a 42-28 loss to Ohio State was a big win for the books, as was underdog Mississippi's outright win over Mississippi State.
Bettors battled back in the late games, though, especially the Iron Bowl. Three times more money was bet on Alabama than Auburn at the MGM. The SuperBook, William Hill, CG Technology and the Stratosphere also were lopsided on the Crimson Tide, who outscored Auburn 34-11 to finish the game and cover as a 10-point favorite in a 55-44 win.
Early college football action
It's been a moneymaking trend all season -- bet against Florida State.
The Seminoles dropped to 3-9 against the spread after failing to cover as a 7-point favorite in a 24-19 win over Florida. That's among the worst ATS records in the nation.
"They're just not a very good team," SuperBook oddsmaker Ed Salmons said. "Right now, as soon as you put a line up on Florida State, there are so many people, sharp players, who just instantly bet against them."
That was again the case when the line on the ACC championship game was released Sunday. Florida State opened as high as a 5-point favorite over Georgia Tech. Early money on the Yellow Jackets shrunk the line down to minus-3.5 as of Monday morning at most books.
"I made it [Florida State] 4.5 and thought it could have been as high as 6.5," Salmons said. "And they still bet it down."
The anti-Seminoles sentiment also is reflected in the SuperBook's updated odds to win the national championship. Florida State, the only undefeated team in the nation, is listed at 10-1, behind Alabama, Oregon, TCU and Baylor.
"Honestly, even 10-1 may be a little light," Salmons said.
Wisconsin attracted early action in the Big Ten championship game against Ohio State, which lost starting quarterback J.T. Barrett to a broken ankle against Michigan. The Badgers opened as a 1-point favorite at CG Technology but were bet up to minus-3.5 as of Monday morning.
Early College Football Lines
Opened at 2 p.m. PT Sunday
Game Opening Monday a.m.
Northern Illinois vs. Bowling Green Northern Illinois -3.5 Northern Illinois -4.5
Arizona vs. Oregon Oregon -14 Oregon -14
Iowa State at TCU TCU -29 TCU -31.5
Kansas State at Baylor NL NL
Oklahoma State at Oklahoma Oklahoma -20.5 Oklahoma -20.5
Missouri vs. Alabama Alabama -13.5 Alabama -14
Florida State vs. Georgia Tech Florida State -5 Florida State -3.5
Wisconsin vs. Ohio State Wisconsin -1 Wisconsin -3.5
Fresno State vs. Boise State Boise State -17.5 Boise State -20
Source: CG Technology sportsbook
Odds & Ends
National Title Game Odds
Team Opening Current
Alabama 5-1 5-4
Oregon 5-1 5-2
TCU 150-1 4-1
Baylor 20-1 8-1
Florida State 10-1 10-1
Ohio State 12-1 15-1
Missouri 60-1 25-1
Georgia Tech 300-1 40-1
Wisconsin 25-1 30-1
Kansas State 60-1 40-1
Arizona 100-1 40-1
Mississippi State 100-1 100-1
Source: Westgate SuperBook
• Bowl lines: The final College Football Playoff rankings will be released at 12:45 p.m. ET Sunday (ESPN). Point spreads on the two semifinal games and some of the other bigger bowls will be out soon after the matchups are released, followed by lines on the full slate of bowls Monday. CG Technology hopes to be the first book up with bowl lines. The Wynn and SuperBook also will post lines on the semifinals and bigger bowl games Sunday.
• Illinois coach Tim Beckman referenced Vegas' preseason expectations of his team in his postgame news conference Saturday. Illinois beat Northwestern 47-33 to finish 6-6 and become bowl eligible. The CG Technology sportsbook set Illinois' season win total at 5.
"I don't think anyone thought we'd win six, at least if you look at the way Vegas thought we were," Beckman told reporters. "I don't think we were predicted to win many games, but we did."
• The sportsbook at the Atlantis Casino and Resort in the Bahamas was prohibited from taking bets on last week's Battle 4 Atlantis college baseball tournament due to the island's gaming regulations.
• A bettor at a CG Technology sportsbook hit a $5,000, five-team NBA parlay Wednesday that paid $45,000. The bettor had Golden State minus-8 over the Orlando, Cleveland minus-7.5 over Washington, San Antonio minus-13 over Indiana, Phoenix minus-7.5 over Denver, and the Los Angeles Lakers plus-7 over Memphis.
• The Nevada Gaming Commission will hold a public hearing Feb. 26 to consider allowing wagering on events sanctioned by the International Olympic Committee. The petition to amend the regulation was filed by the South Point Hotel and Casino. In addition to Olympic events, the casino is asking the NGC to amend regulations to allow wagering on the Heisman Trophy, Cy Young Award and Academy Awards, among other events.
