Monday, September 14, 2015

Sportsbooks Lose on NFL Opening Day

Opening Sunday of the 2015 NFL season was a rough one for sportsbooks in Las Vegas, as public bettors did unusually well according to an ESPN article by expert sports gaming writer David Purdum.

Westgate, Wynn, William Hill, MGM, Caesars, CG Technology, Stratosphere and Station Casinos all reported a losing day according to the article.

Favorites did well covering 9 out of the 13 day games with tons of money being bet on the victorious Packers and Dolphins. With so many of the favorites winning - multiple bet parlay cards started to pay off big.

Among the underdogs that did win - the Rams were a popular choice among professionals, which caused even more pain for the books.

Early season games are usually big moneymakers for the sportsbooks, although the lines can be softer because nobody has seen what these teams can do yet. As the season goes on I would expect the lines to tighten up and the books to get back on track, hoping to match the $113.7 million they won on football in 2014.