Vegas Bookmakers Were Hit Hard in 2012
The Las Vegas bookmakers and those online are still licking their wounds after one of the worst betting seasons on record.
From the LA Times:
The problem for Las Vegas sports books is that many popular NFL teams beat the point spread during the regular season. And with many bettors combining their picks in parlays, $20 wagers turned into payouts of up to more than $1,000, depending on how many winning bets they combined.
The result is what one Las Vegas sports bookmaker called a "staggering" financial hit from the NFL regular season, as bettors handed Nevada sports books their worst year in memory.
"We know the general public now has tremendous sources of information, that the regular player is sharper than the guy 10 years ago, but we've never seen a streak like this before," said Jay Kornegay, Director of the Sportsbook at the Las Vegas Hotel & Casino.
"It's like you're a passenger trapped on a train to hell," said Jay Rood, who runs the sportsbook at MGM.
Week 9 alone brought many bookmakers to their knees as nearly every favorite came through along with two publicly backed dogs.
Things may get worse before they get better as many gamblers backed big long shots to win the 2013 Super Bowl early on at odds of 75/1 or greater. Seattle, Indianapolis and Minnesota were among the franchises with strong fan followings and long odds that made it into the Playoffs.
- Don Shapiro, Gambling911.com
