Thursday, February 07, 2008

2.6 Million

If you missed it, the Vegas casinos lost 2.6 million dollars during the super bowl. This is chump change, but does show that in some cases, Vegas can lose.

You're probably wondering how this happened? If you bet the money line for football or baseball (or other sports I assume) you bet an amount of money based on who is favored. For example, since the Pats were heavily favored you had to bet something like $400 to win $100. On the inverse, if you bet the Giants you only had to bet $100 to win $400. These numbers are not accurate but you get the point.

As you can see, Vegas lost money because more money was on the Giants for the money line. Next time you're in Vegas give the money line a shot. You can make some good money if an underdog wins; as we just saw.

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