Las Vegas Sports Books Role in Regulated Betting

Las Vegas Sports Books Role in Regulated Betting

Do you remember the first time you walked into a casino Sports Book? My first time left me on Cloud 9. It was the Stardust Casino back in the seventies. Today, they are bigger and better than ever. The environment is very festive especially during football season. This festive atmosphere is all legal and legitimate.

The modern Casinos know the Sports Betting Arena is an important ingredient in their operation. Although not a big money-maker, it does create an attraction of players that is necessary in the competitive casino market. The casinos need to keep pace with each other especially during football season which is the busiest part of the sports year. Total money bet (handle) during football far surpasses the other sports played during the year.

A Las Vegas Sports Book will rake in about 4% profit on the total handle or money bet during the year. If they do a $50 million dollar handle for the year, they make about a 2 million dollar profit. They payout to winners and they collect a 10% commission (vigorish) from losers. Not much profit considering the overhead but the casino does get an overflow onto the casino floor from the Sports Book patron who will bet on something else.

There will be football Sundays where Sports Books actually lose money. Many amateurs will bet the favorite and win when certain Sunday NFL game favorites will cover the spread and casinos will payout more winners than losers. However, in the long run, the Sports Books will prevail against the amateur bettor. Usually the favorites and underdogs will each cover the spread about 50% of the time.

In essence, Sports Betting and Poker are the two betting platforms where the House has NO mathematical built-in advantage as they have in a game of chance on the casino floor.

The so called Experts who set the betting line are also gambling. Their computer analysis of games can only go so far. Their posted number or Spread is usually close to the final score about 65% of the time. They hope not to get hit too hard on a soft line they post to the betting board. The Professional gambler will sniff out these soft lines and take a big position against the Sports Book posted number. Too much action on some games will produce losses for the Sports Book if their numbers are weak and smart bettors know it.

The Sports Books management people do play an important role in regulating the Betting Action to make sure everything is Kosher. This means they watch for any betting abnormalities. They keep eyes on larger than normal betting amounts on different sporting events.

The last thing they want is the possibility of a fixed game, especially in College Sports.

Any larger than normal betting pattern will be looked at by the Sports Book people. They will actually work with and alert the representatives of different Sports League in Professional Sports and College ranks if they feel there is suspicion.

So this watchful eye is necessary and a big part of a Sports Book role in the legal betting arena of Las Vegas and the state of Nevada.

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