Parlays give Vegas books another losing weekend
David Purdum
ESPN Staff Writer
Two large parlay tickets stuck out while Jason Simbal was reviewing the betting action on the Sunday night game between the Tampa Bay Buccaneers and Dallas Cowboys.
"We have a $3,000 five-teamer that would win $65,000, and a $2,000 five-teamer that would win $43,000, both with the last leg Tampa plus-7," Simbal, vice president of Las Vegas sportsbook operator CG Technology, said before kickoff.
The Cowboys prevailed 26-20, completing the lucrative parlays and sending CG Technology to another losing Sunday during what has been a tough six-week stretch for the house.
In October, Nevada's sportsbooks won $42.3 million statewide off of $517.3 million wagered. It was the third-largest month ever in terms of handle, behind only November 2015 ($557.4 million) and November 2014 ($535.4 million), according to Nevada Gaming Control. The $42.3 million won ranks among the most profitable months in the books' history as well, with $30 million of it resulting from football bets.
The books won $36.9 million on football in September, putting them up $66.9 million for the first two months of the season. But bettors battled back in November and early December, including this week.
On Sunday, bettors won big on the Pittsburgh Steelers covering the spread in a 24-20 comeback win over the Cincinnati Bengals. With approximately 70 percent of the money bet on the AFC North rivalry game on the Steelers, it was the biggest loss of the day for CG Technology and other Las Vegas sportsbooks.
The books were able to overcome the Pittsburgh win and came out ahead in the early games, but an afternoon slate that saw popular favorites New England, Oakland and Atlanta cover the spread took a toll on the house.
"Let's just say the afternoon was less than ideal," a sportsbook manager for Caesars Palace said. "Everyone and their cousin had the Pats and the Raiders today. Not a good afternoon for us."
The winless Cleveland Browns and the 1-13 San Francisco 49ers have been a thorn in the books' sides. The Browns and 49ers are a combined 4-23-1 against the spread. Bettors have caught on and, on a weekly basis, Browns and 49ers opponents can be found on the bulk of parlay cards.
"I think we've lost money on parlays like four or five Sundays in a row, which is just hard to believe," Simbal said. "That normally happens three times in a season."
Nevada Gaming Control will release revenue numbers for November by the end of the month.
David Purdum
ESPN Staff Writer
Two large parlay tickets stuck out while Jason Simbal was reviewing the betting action on the Sunday night game between the Tampa Bay Buccaneers and Dallas Cowboys.
"We have a $3,000 five-teamer that would win $65,000, and a $2,000 five-teamer that would win $43,000, both with the last leg Tampa plus-7," Simbal, vice president of Las Vegas sportsbook operator CG Technology, said before kickoff.
The Cowboys prevailed 26-20, completing the lucrative parlays and sending CG Technology to another losing Sunday during what has been a tough six-week stretch for the house.
In October, Nevada's sportsbooks won $42.3 million statewide off of $517.3 million wagered. It was the third-largest month ever in terms of handle, behind only November 2015 ($557.4 million) and November 2014 ($535.4 million), according to Nevada Gaming Control. The $42.3 million won ranks among the most profitable months in the books' history as well, with $30 million of it resulting from football bets.
The books won $36.9 million on football in September, putting them up $66.9 million for the first two months of the season. But bettors battled back in November and early December, including this week.
On Sunday, bettors won big on the Pittsburgh Steelers covering the spread in a 24-20 comeback win over the Cincinnati Bengals. With approximately 70 percent of the money bet on the AFC North rivalry game on the Steelers, it was the biggest loss of the day for CG Technology and other Las Vegas sportsbooks.
The books were able to overcome the Pittsburgh win and came out ahead in the early games, but an afternoon slate that saw popular favorites New England, Oakland and Atlanta cover the spread took a toll on the house.
"Let's just say the afternoon was less than ideal," a sportsbook manager for Caesars Palace said. "Everyone and their cousin had the Pats and the Raiders today. Not a good afternoon for us."
The winless Cleveland Browns and the 1-13 San Francisco 49ers have been a thorn in the books' sides. The Browns and 49ers are a combined 4-23-1 against the spread. Bettors have caught on and, on a weekly basis, Browns and 49ers opponents can be found on the bulk of parlay cards.
"I think we've lost money on parlays like four or five Sundays in a row, which is just hard to believe," Simbal said. "That normally happens three times in a season."
Nevada Gaming Control will release revenue numbers for November by the end of the month.
