So much for the sportsbooks are getting killed this year talk. As usual the sportsbooks are making a killing. I read this in the Las Vegas Sun:
All football season, we have been hearing about how this was the year of the favorite in NFL betting, and how badly the sports books' bottom lines were damaged as a result.
Favored teams have been covering the point spread at a rate approaching 60 percent, a virtually unprecedented clip.
Because the betting public tends to wager on favorites, gamblers were consistently crushing the sports books week after week. So we were told.
Terms such as "bloodbath" were thrown around to describe the beating sports books were taking.
Because individual casino companies do not publicly reveal how much money their sports books win or lose in particular sports, we had to wait until the state Gaming Control Board released its figures for all of Nevada to get an up-close look at the carnage.
The Control Board recently released its statewide revenue report for August through October 2005, which covers the first two months of the football season that we were led to believe were oh-so-devastating for Nevada's sports books.
Brace yourself.
In September, the state's sports books won more than $22.3 million from gamblers in football betting alone, representing a win percentage of 13.69 percent (meaning about $164 million was wagered), according to the Control Board.
In October, the state's sports books won more than $30.3 million from gamblers in football betting, a win percentage of 12.15 percent (about $252 million was wagered), according to the Control Board.
Those figures do not include money won from gamblers on parlay cards, which the Control Board tracks in a separate category. From August through October, casinos won an additional $10.3 million on parlay cards, a win percentage of 36.75 percent, according to the Control Board.
That's a profit for the state's sports books on football betting alone from August through October -- a stretch encompassing the preseason and the first two months of the regular season -- of more than $55.3 million.
All football season, we have been hearing about how this was the year of the favorite in NFL betting, and how badly the sports books' bottom lines were damaged as a result.
Favored teams have been covering the point spread at a rate approaching 60 percent, a virtually unprecedented clip.
Because the betting public tends to wager on favorites, gamblers were consistently crushing the sports books week after week. So we were told.
Terms such as "bloodbath" were thrown around to describe the beating sports books were taking.
Because individual casino companies do not publicly reveal how much money their sports books win or lose in particular sports, we had to wait until the state Gaming Control Board released its figures for all of Nevada to get an up-close look at the carnage.
The Control Board recently released its statewide revenue report for August through October 2005, which covers the first two months of the football season that we were led to believe were oh-so-devastating for Nevada's sports books.
Brace yourself.
In September, the state's sports books won more than $22.3 million from gamblers in football betting alone, representing a win percentage of 13.69 percent (meaning about $164 million was wagered), according to the Control Board.
In October, the state's sports books won more than $30.3 million from gamblers in football betting, a win percentage of 12.15 percent (about $252 million was wagered), according to the Control Board.
Those figures do not include money won from gamblers on parlay cards, which the Control Board tracks in a separate category. From August through October, casinos won an additional $10.3 million on parlay cards, a win percentage of 36.75 percent, according to the Control Board.
That's a profit for the state's sports books on football betting alone from August through October -- a stretch encompassing the preseason and the first two months of the regular season -- of more than $55.3 million.
ucking:
