meatface
Experienced Starter w/First Big Contract
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CLICK HERE to Register for a free account and login for a smoother ad-free experience. It's easy, and only takes a few moments.As far as Vegas losing money.
Does anyone know if Vegas takes the millions they receive from sports and place them in some form of investment that would gain interest? I realize that interest rates are down, but I have hard time believing that the money is just sitting around losing value.
Good question. If nothing else cash on hand means not using the credit line for operating expenses (which I think many companies do as, I believe, a way to turn some of their accounts receivable amount into operating $$).
But do they try to gain investment income from the betting money they hold? Some quick general estimate: interest on 1M at 5% annual is about 150$. So if they held 50M (just a guess) in bets for 5 days it's in the ballpark of 40k gross.
But that 50 million probably is spread across a dozen or more sportsbook casinos. So the actual return per casino, minus transaction fees, may not be a lot on the Patriots Broncos game. However, this would be lumped in with all the betting money they may be holding for all games of all betting events. Now it is potentially more than 'not a lot'. And since Casinos are known for squeezing every nickle they can out of absolutely everything, I'd be surprised if they are not finding investment return on the money they briefly hold.
I'd have to assume that you're correct, and that it's treated as any other successful business, which would have many other investments. They're definitely raking it in hand over fist, and that's on an insanely consistent basis.
It's the very fact that I rarely go to the casinos (every few years or so), since I know that it's basically a losing proposition. On the rare occasions where I am actually up, I often will stop wagering and be more than happy with my small winnings--much to the dismay of my wife, who tries to tell me that "we're here to have fun."
Didn't want to pay the -130, basically.Dale....why in God's name didn't you tease it with 7 points instead of 6? I understand that you'd be giving -130 instead of -110, but you could've had:
NE +3.5
ARZ +7
Those are major differences than +2.5 and +6, just to save a little bit of juice. C'mon, man! You know that these numbers (3,4,6, and 7) are major players in the outcome of a high percentage of NFL games.
Casinos wear me out with bells, whistles and flashing lights, but I was with Mother on 1 occasion as an observer and she was playing slots. After about 1 hour, she won 3k on 1 pull. My Mother was afraid to leave a hot machine so she kept on playing.
Slowly, the machine would take money back and then pay out some. The payout was always less than the take in. Before it was over all 3k was gone plus 500 of her own money.
1 arm bandit.
I have to question BSPN's reporting of '85% of the money being bet on the Patriots'.
According to these charts that is not only not the case now, it never was that high - even in the first 24 hours, when the numbers are often lopsided.
Sports Betting News and Vegas Odds
As of 10:00 am ET Sunday, 69% of the money being wagered against the spread is on the Patriots. 72% of the money line is on the Pats. The public tends to bet on the favorite more often than on the underdog. The money may be a bit high on the Patriots, but it's not completely unexpected - and not as one-sided as the world wide leader is attempting to have us believe.
Right now the only usefulness of that erroneous report is bulletin board material for the Broncos, who seem to be reveling in playing the disrespect card this week.
I am curious to know how much Vegas won. It appears it will be a big win for the bookmakers.
And that was the game . Vegas wins big.Denver has an amazing D and Vegas hasn't forgotten this fact....
Smart money came in on the Pats hours before the 2013 AFCCG.
Smart money came in on the Seahawks before last year's SB.
Definitely not worried, and still expect a comfortable win for NE.
Uh huh...
Can't be right all the time.
For you, that was the case about pretty much everything starting with the first Denver game.
Always is. They take a bath from time to time, but I liked your comment earlier. When the sharps are all in on one side, and the public on the other, it's troublesome. They know what they are doing.
Always is. They take a bath from time to time, but I liked your comment earlier. When the sharps are all in on one side, and the public on the other, it's troublesome. They know what they are doing.