Giant loss for Nevada books

[IntenseOperator]

February 5, 2008
FROM THE ASSOCIATED PRESS


Nevada sports books lost a record $2.6 million on Super Bowl bets when the New York Giants upset the New England Patriots on Sunday.

The sports books handled just more than $92 million on the game, the third-highest amount ever but down for the second consecutive year.

The record was set in 2006 when $94.5 million was bet.

The last time the books lost money was in 1995, when the San Francisco 49ers blew out the San Diego Chargers, 49-26, and Nevada books lost $400,000.

Nevada Gaming Control Board analyst Frank Streshley says large amounts were bet on the money line that the Giants would win outright.

The payouts on those bets were as large as four times the original bet because New England was such a huge favorite.

The game ended with the Giants winning 17-14.

 

[vinnie]

Back The Truck Up

 

[Handi Capper]

 

[DoubleDown]

Only the second Super Bowl loss, and only 2.6 Million. BWAAA !!!

No wonder Stations Casinos had a lay off this week.

 

[Senor Capper]

Sunday, Bloody Sunday. If only it were just a U2 album.

Eli Manning?s TD toss to Plaxico Burress with 35 seconds left in SB 42 was the dagger to most Vegas Sports Books.

"The result made a lot of happy customers," said Mark Dufty, the race and sports director at Jerry?s Nugget. "Our place erupted when Burress made that catch."

Dufty said it was the worst loss the house has experienced in his 25 years in the business.

"Every year in the Super Bowl that you get a double-digit favorite, the public will bet the favorite and over the total," Dufty said. "With most of the money coming in on the Giants, they bet the under and the money line at a 5-1 ratio. It was a train that just picked up steam as the days went on."

Frank Streshley, senior analyst for the Nevada Gaming Control Board, said the total volume of bets for the Super Bowl in the state would be known either Tuesday or Wednesday.

"I?ve heard mixed signals from the hotels about breaking the $100 million mark," Streshley told GamingToday from his office in Carson City. "It?s quite possible the volume could equal last year?s $93 million. The record is $94 million set two years ago."

The losing story was the same downtown at The Plaza, where the house hoped for merely a Patriots victory.

"It was the worst case scenario," said Mike Colbert, the Plaza?s race and sports manager. "Anything but the Giants winning outright would have been a good result. The last TD was a big one. We had some 70 percent of the bets in on the Giants. The money line was +370."

The tune was different at the Hard Rock, as public money poured in over the weekend on the Pats.

"People bet them on the spread and money line," said Paul Bitters, race and sports assistant manager at the Hard Rock. "The young crowd we attract likes to bet favorites."

Wynn Las Vegas and the Las Vegas Hilton reportedly fared well against Super Bowl bettors, though they would be the exception to the rule.

Hilton Race and Sports guru Jay Kornegay held nothing back in painting the not so rosy picture on a worst case scenario come true. Kornegay?s view: "80 percent of the books lost."

"It was like watching a train wreck," Kornegay said of the 17-14 Giants victory as a 12-point underdog. "It?s not like the books made a mistake. We thought the odds were in our favor with New England. The public just wanted the Patriots to lose."

The Hilton was packed and surprised from the lack of larger Patriots money line bets. Kornegay used the David and Goliath theme with the G-men as David. Speaking of David. "I can?t believe Tyree," Kornegay said. "The prop was 2? yards. He made the catch of his life."

 

[dawgball]

Both of the locals I know got killed on the side but made up most of it on the under. They were very heavy on the over.

 

[hedgehog]

2.6 million lost legally and how much estimated lost including bookies?

My guess would be about 2.6 million more at least

 

[william13]

poor bastards ..
they lost 2.6 million in one day , but make that per day the other 364 .... :jerkit:

 

[MadJack]

:violin:

 

[THE HITMAN]

:violin:

Yeh, I agree here. Bring out the violins. 2.6 mill, big deal. And that's for all of Vegas. Divide it out & it comes to chump change.

 

[jr11]

Locals got cracked here too...

jr11