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Betting articles - Betting on winning outrights


Betting on winning outrights

Whenever I think of gambling, Las Vegas is the very first place that comes to my mind.  Vegas is synonymous with gambling, bright lights, and broken dreams.  It causes people to do things they would never dream of doing, such as losing a years salary all in one night.  It is always fun to hear the stories of how people go up against Vegas and take Vegas to the cleaners.
Now that 2008 is coming to a close and the NFL playoffs are about to begin, it’s hard not to think about this past Super Bowl and how the Giants beat the undefeated Patriots and ruined history. The Patriots weren’t the only losers that night. Nevada sports books lost a record $2.6 million when the Patriots lost to the New York Giants 17-14.
Many people flocked to Vegas that night and placed bets on the New York Giants.  Betting on winning outrights allowed gamblers to in win up to $50 for every $10 that they bet. The Giants came into the game as 12 point underdogs and Vegas is all about underdogs. People flood into Vegas to make their dreams come true and this night a lot of people left the casinos with a lot more money in their picket. The bookies in Vegas anticipated a large amount of wagers on the undefeated Patriots, but they never happened.
So many people bet on the Giants, actually about sixty percent of all the bets were against the Patriots. This caused red flags all around Vegas and many books had to shift their lines and dropped the Patriots from being favored by 14 points down to 12 points.
Not only did betting on winning outrights cause Vegas to lose a lot of money, but many gamblers bet a two-way parlay that the Giants would cover the 12 point spread and that the total score of the Super Bowl would be under 54 points. This allowed gamblers to win a payoff 2.5 times their bet.
It has been 13 years since Vegas lost any money on the Super Bowl and that was when the San Francisco 49ers blew out the San Diego Chargers. That year they only lost $400,000, nothing compared to the six times the amount they lost this past year. The total amount gambled in Vegas that night was $92.1 million and ended up being the third-highest amount ever bet on a single sporting event.
The experts in Vegas went with the Patriots and the public bet on Giants and on this particular night the public took Vegas to the cleaners. Now it doesn’t make up for the other 364 days out of the year or for the previous 13 years, but there wasn’t just one upset that night and I’ll let you decide which the bigger upset was.
Author: Keijo Abijuan
© Gambler Awards, 2008
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