Money piling in on NE

I'm honestly surprised that a six figure bet is notable

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Triumph said:

As far as Vegas losing money.

Does anyone know if Vegas takes the millions they receive from sports and place them in some form of investment that would gain interest? I realize that interest rates are down, but I have hard time believing that the money is just sitting around losing value.

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Good question. If nothing else cash on hand means not using the credit line for operating expenses (which I think many companies do as, I believe, a way to turn some of their accounts receivable amount into operating $$).
But do they try to gain investment income from the betting money they hold? Some quick general estimate: interest on 1M at 5% annual is about 150$. So if they held 50M (just a guess) in bets for 5 days it's in the ballpark of 40k gross.
But that 50 million probably is spread across a dozen or more sportsbook casinos. So the actual return per casino, minus transaction fees, may not be a lot on the Patriots Broncos game. However, this would be lumped in with all the betting money they may be holding for all games of all betting events. Now it is potentially more than 'not a lot'. And since Casinos are known for squeezing every nickle they can out of absolutely everything, I'd be surprised if they are not finding investment return on the money they briefly hold.

Yup, when i hear 85% of the money is on the pats and they haven't moved the line, that's a little worrisome.

When you stand to lose 10mil, what's $500K to buy a few close penalties?

TheBostonStraggler said:

Good question. If nothing else cash on hand means not using the credit line for operating expenses (which I think many companies do as, I believe, a way to turn some of their accounts receivable amount into operating $$).
But do they try to gain investment income from the betting money they hold? Some quick general estimate: interest on 1M at 5% annual is about 150$. So if they held 50M (just a guess) in bets for 5 days it's in the ballpark of 40k gross.
But that 50 million probably is spread across a dozen or more sportsbook casinos. So the actual return per casino, minus transaction fees, may not be a lot on the Patriots Broncos game. However, this would be lumped in with all the betting money they may be holding for all games of all betting events. Now it is potentially more than 'not a lot'. And since Casinos are known for squeezing every nickle they can out of absolutely everything, I'd be surprised if they are not finding investment return on the money they briefly hold.

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I have bet on NE winning the Super Bowl several times placing my bet in August when the odds are the best. Vegas has my money (and others) for over 150 days until they pay out.

supafly said:

I'd have to assume that you're correct, and that it's treated as any other successful business, which would have many other investments. They're definitely raking it in hand over fist, and that's on an insanely consistent basis.

It's the very fact that I rarely go to the casinos (every few years or so), since I know that it's basically a losing proposition. On the rare occasions where I am actually up, I often will stop wagering and be more than happy with my small winnings--much to the dismay of my wife, who tries to tell me that "we're here to have fun."

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Casinos wear me out with bells, whistles and flashing lights, but I was with Mother on 1 occasion as an observer and she was playing slots. After about 1 hour, she won 3k on 1 pull. My Mother was afraid to leave a hot machine so she kept on playing.

Slowly, the machine would take money back and then pay out some. The payout was always less than the take in. Before it was over all 3k was gone plus 500 of her own money.

1 arm bandit.

supafly said:

Dale....why in God's name didn't you tease it with 7 points instead of 6? I understand that you'd be giving -130 instead of -110, but you could've had:

NE +3.5
ARZ +7

Those are major differences than +2.5 and +6, just to save a little bit of juice. C'mon, man! You know that these numbers (3,4,6, and 7) are major players in the outcome of a high percentage of NFL games.

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Didn't want to pay the -130, basically.

I have to question BSPN's reporting of '85% of the money being bet on the Patriots'.

According to these charts that is not only not the case now, it never was that high - even in the first 24 hours, when the numbers are often lopsided.

Sports Betting News and Vegas Odds

As of 10:00 am ET Sunday, 69% of the money being wagered against the spread is on the Patriots. 72% of the money line is on the Pats. The public tends to bet on the favorite more often than on the underdog. The money may be a bit high on the Patriots, but it's not completely unexpected - and not as one-sided as the world wide leader is attempting to have us believe.

Right now the only usefulness of that erroneous report is bulletin board material for the Broncos, who seem to be reveling in playing the disrespect card this week.

Triumph said:

Casinos wear me out with bells, whistles and flashing lights, but I was with Mother on 1 occasion as an observer and she was playing slots. After about 1 hour, she won 3k on 1 pull. My Mother was afraid to leave a hot machine so she kept on playing.

Slowly, the machine would take money back and then pay out some. The payout was always less than the take in. Before it was over all 3k was gone plus 500 of her own money.

1 arm bandit.

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that's cuz she doesn't know what she's doing --- there's no such thing as a 'hot' machine.
a machine that just paid out big just used up all it's luck.

I read elsewhere this morning that about 75% of the money is on the Panthers and, according to this article, 80% or so is on the Pats. This is why it's smart to place your bets with a regulated, diversified and well-capitalized House. A lot of fly-by-nighters are probably gassing their cars and getting ready to blow Dodge if both teams win, especially if they took a few big bets.

I like Donks +3.5 and Carolina -3. Those are my bets.

jmt57 said:

I have to question BSPN's reporting of '85% of the money being bet on the Patriots'.

According to these charts that is not only not the case now, it never was that high - even in the first 24 hours, when the numbers are often lopsided.

Sports Betting News and Vegas Odds

As of 10:00 am ET Sunday, 69% of the money being wagered against the spread is on the Patriots. 72% of the money line is on the Pats. The public tends to bet on the favorite more often than on the underdog. The money may be a bit high on the Patriots, but it's not completely unexpected - and not as one-sided as the world wide leader is attempting to have us believe.

Right now the only usefulness of that erroneous report is bulletin board material for the Broncos, who seem to be reveling in playing the disrespect card this week.

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Im not a bettor but this looks to me like another unnamed source using ESPN to push an agenda. As pointed out by some here the facts just don't support the story, at no time has 85% of the money been on the Pats.

Even more interesting to me is the fact that from the time the story came out, money on Denver has increased from 27% to 31% so it may have helped even the money a bit without anyone having to move the spread.

I am curious to know how much Vegas won. It appears it will be a big win for the bookmakers.

vuudu said:

I am curious to know how much Vegas won. It appears it will be a big win for the bookmakers.

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Always is. They take a bath from time to time, but I liked your comment earlier. When the sharps are all in on one side, and the public on the other, it's troublesome. They know what they are doing.

neuronet said:

Denver has an amazing D and Vegas hasn't forgotten this fact....

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And that was the game . Vegas wins big.

FourierSeries said:

Smart money came in on the Pats hours before the 2013 AFCCG.

Smart money came in on the Seahawks before last year's SB.

Definitely not worried, and still expect a comfortable win for NE.

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Uh huh...

Deus Irae said:

Uh huh...

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Can't be right all the time.

FourierSeries said:

Can't be right all the time.

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For you, that was the case about pretty much everything starting with the first Denver game.

Deus Irae said:

For you, that was the case about pretty much everything starting with the first Denver game.

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On the bright side, there hasn't been anybody who has been more wrong over the years than you. So I have that going for me at least.

fumbrunner said:

Always is. They take a bath from time to time, but I liked your comment earlier. When the sharps are all in on one side, and the public on the other, it's troublesome. They know what they are doing.

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Bill Simmons and Joe House were talking about that on Bill's podcast yesterday. The line moved to 3.5 right before the game and a lot of "smart money" started going toward Denver (or something like that). I have never bet on a sporting event, so I didn't quite follow the whole exchange.

fumbrunner said:

Always is. They take a bath from time to time, but I liked your comment earlier. When the sharps are all in on one side, and the public on the other, it's troublesome. They know what they are doing.

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They don't keep building new casinos because business is bad.