There will be a quiet word to the Commissioner and this won't happen again.
How do Vegas sports books lose big dollars on the betting?
I’ve never bet so maybe don’t understand certain things. But I thought point spreads and over/under were set so that approximately equal amounts are bet on each team. And then the bookies make their profit on the “vig”, which is based on everyone betting $11 to win $10. That extra dollar is their profit on each bet.
Do bookies have insurance against big payouts such as these?
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Commissioners don’t set the line. Vegas does. And if 69% are taking the over you’re supposed to move it. Lines exist to spread the betting on both sides so Vegas never loses.
That’s the bookies’ fault. Always make the bets 50-50, and get 10% of the vig.
Michael Grodsky, spokesperson for William Hill, which has 108 sportsbooks in Nevada, told ESPN the game was a “healthy seven-figure loss” for the book, with 69 percent of customers betting the over.
There will be a quiet word to the Commissioner and this won’t happen again.
This is one thing you cannot blame on Goodell. The sports books should have called a much higher o/u. I fully expected 40 plus by at is at one side and 30 plus by the other. The pregame discussion was who ever had the ball last would win. Technically that happened, but only because of the last interception.