Monday, December 21, 2015

Las Vegas books experience major loss in NFL Week 15

Westgate Las Vegas SuperBook control room.
After nine straight NFL Sunday’s of getting beat by the Las Vegas sports books, bettors exacted revenge in Week 15 with a furious assault on the posted numbers that led to a massive losing day for the house while turning it into a great Christmas gift for the masses. .

“Our worst day of the year,” said CG Technology VP of risk management Jason Simbal. “We got stuck big with parlays.“

It was almost as if St. Nick himself had been watching the one-sided relationship between NFL bettors and the sports books the past two months and had seen enough of the little guy getting pushed around. Coal in the stocking for the naughty and greedy sports books while the public get cheer and jolly for Christmas.

By no means are the books to be painted out as some kind of villain or Grinch, because all they do is post the numbers and let bettors choose who they want.

It’s pretty simple, the books set the numbers on all the games and you give them money and then pick one side or the other. But where the books make all their money throughout the year is the exotic wagers such as parlays, where a bettor can make a lot for a small amount wagered by tying a couple team together.

Betting parlays was a profitable strategy early on in the season when the public won three of the first five weeks. But after the books ironed out the numbers with five weeks of data, the popular public teams were tougher to win with weekly.

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