Book report: $10 NC State bet at 1,000/1; Bonnies save Vegas

Underdog St. Bonaventure’s late push to cover the spread against Florida State on Friday was a momentum-changer for Vegas.

Favorites, and the public majority who back them, delivered a series of opening blows to books Thursday, as chalk covered the spread in 11 of 16 games on the NCAA tournament’s first full day.

“It wasn’t just any favorites, either, it was the small favorites, the ones laying 6 or less,” said Jay Kornegay, executive director of the SuperBook at the Las Vegas Hotel & Casino. “Those are the ones the public really bets and parlays. Every time we lost a key decision it seemed to be tied in on a 2-, 3- or 4-teamer.”

Friday started out much the same. By the time St. Bonaventure and Florida State tipped off, the SuperBook had lost five straight decisions. Favorites covered the first four games of the day, improving to 15-5 against the spread at that point.

The sportsbook at Caesars Palace was in a similar situation. According to Caesars senior analyst Todd Fuhrman, the only favorite they were rooting for in Friday’s early games was Alabama. Creighton, of course, upended the Tide. Fuhrman added that the Florida State-St. Bonaventure was one of his book’s biggest decisions on Friday.

“If St. Bonaventure wouldn’t have covered, it would have been a dark day in the sportsbook,” said Kornegay.

The Bonnies, who were 6.5-point underdogs, were down eight with two minutes to play, but managed a late flurry to cover in a 66-63 loss to the Seminoles.

St. Bonaventure acted as a rally call for underdogs, who covered 15 of the next 27 tournament games.

Heading into the Sweet 16, favorites are 27-20-1 ATS in the second and third round of the tournament.

$10 ticket on North Carolina State at 1,000/1

The SuperBook took only eight bets on North Carolina State to win the national title all season, but one of them was a $10 wager at 1,000/1, according to Kornegay.

The 12th-seeded Wolfpack are 7.5-point underdogs against No. 2 Kansas on Thursday.

After the bracket was released, the SuperBook wrote more tickets on Florida State to win the tournament than any other team. Missouri received the second most action, followed by Michigan State and North Carolina.

Tournament-favorite Kentucky was way down the list. Even Duke received more bets than the Wildcats, said Kornegay.

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Posted by howzuck
2 years ago

I agree with all of you - what's the big deal that someone is holding the NC State ticket? They are probably rooting for NC State to pull it off - how many tickets do you think are written on Kansas and the other favorites - most likely way more than the $10000 they would be paying out, there is always someone betting on the longshots at the racetrack, track never complains about paying them off.....
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Posted by oldtexx
2 years ago

I could not believe Jay stated the obvious earlier in the week. Why would I offer 20-1, when I can get the same action at 10-1? Futures value has been declining for years, and the bean counters love it. They just do not understand why their handle is down so to offset they continue to lower the prices. Then when a score comes in they try to highly play it up to try and entice others to try it later.
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Posted by David_Payne
2 years ago

I think Super Bowl futures are different than almost any other futures market. People (public) are going to bet them regardless. Now, maybe some lesser bet events would be hurt by inaccurate odds, but not the Super Bowl, IMO.
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Posted by derekanderson
2 years ago

These stories always make me laugh. Oh no, somebody has a wager possibly paying off big. I'd pay the one teams few tickets to get all the cash on the other 63 teams. The book cleans up.
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Posted by David_Payne
2 years ago

See, I don't think stories about big potential paydays are as much about "destroying the book" or whatever. To me, the interesting part it to think about the person holding that ticket. Who are they? What made them place the bet? How much are they hedging?
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Posted by earthWake
2 years ago

I knew Fsu was the squarest pick of the tourny, I was saying it all week. Everyone and their dog has Fsu as their 'suprise' pick
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Top Response

Posted by oldtexx
2 years ago

"I could not believe Jay stated the obvious earlier in the week. Why would I offer 20-1, when I can get the same action at 10-1? Futures value has been declining for years, and the bean counters love it. They just do not understand why their handle ..."