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re: Vegas Insider Predictions For LSU Football
Posted on 5/8/18 at 3:16 pm to atltiger6487
Posted on 5/8/18 at 3:16 pm to atltiger6487
quote:
nope - Vegas doesn't make their money by picking winners. It's all math
Sorry that’s not the way it works. Book managers will tell you they could not stay open if all they got was 10%. Basic business logic should tell you no business could survive on that, you’re talking about 10% on just bets, that’s before they pay a light bill or employee salary. But don’t take my word for it, just look at the site referenced in the thread Vegas Insider for tonight’s NBA games 75% of the bet are on Houston -12 and 79% over 208.5 76% on Golden State -11.5 and 60% on over 229.
Here is an article about how they lost on the Super Bowl this year
LINK if you google Vegas losing on football you will find articles over the years of weekends or even entire seasons the books have lost. If you also stopped to think about it, the vast majority of bets are placed less than an hour before the start of the game, again logic should dictate that it’s simply not possible to adjust the line that fast
Posted on 5/8/18 at 3:27 pm to H-Town Tiger
quote:old data (from 2009), but a good perspective. Casino book survive on about a 5% win rate.
Sorry that’s not the way it works. Book managers will tell you they could not stay open if all they got was 10%. Basic business logic should tell you no business could survive on that, you’re talking about 10% on just bets, that’s before they pay a light bill or employee salary.
Below are the numbers that Las Vegas casinos made in revenue from sports betting in 2009:
Overall
Total Amount Bet – $2.4 Billion
Total Casino Win (revenue) – $136.3 Million
Win Percentage (percent of money played that casino kept) – 5.31%
This post was edited on 5/8/18 at 3:28 pm
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