Friday, February 8, 2013

Super Bowl Gambling

Super Bowl XLVII - Baltimore Ravens v San Francisco 49ersOne of the most fascinating aspects of any major sporting event is how it's being seen in Vegas. Obviously the Super Bowl is a huge draw this year, but one thing I didn't realize is that there are a lot of 49ers fans that live close to Las Vegas. That gives them more of an opportunity to bet on their team, and boy did the casinos cash in. San Francisco opened the game as a 5 point favorite, and obviously they didn't cover (or win), meaning that Vegas cashed in. On a typical football bet, the casinos only keep about 4.45% of the total amount bet. When things go their way for the casinos, like they did this Super Bowl Sunday, that number can jump over 7%. Doesn't seem like too much, but this year, fans bet a record $98.9 million on the Super Bowl, and the Vegas casinos kept 7.3%, or just over $7 million dollars. Sounds nerdy, but I find this stuff fascinating. 

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