Nevada books lose $6.2 million to football bettors in October

Nevada sportsbooks got hit with a $6 million QB sack in October, losing that figure to football bettors this fall.

According to the Nevada State Gaming Control Board, sportsbooks across the Silver State were stung for a loss of $6.2 million on football betting in October – a huge difference compared to last October’s windfall of $26.5 million on football (the report does not differentiate between NFL and NCAAF). That’s a difference of more than 123 percent.

Books on the Las Vegas Strip suffered the brunt of that blow, losing close to $4.5 million on football in October with a hold percentage of -2.59.

However, Michael Lawton, senior research analyst for the Gaming Control Board, says October 2011 was an anomaly and that 2012’s numbers were “going up against an unrealistic hold percentage”, referencing the -1.98 hold percentage of this October compared to the 8.3 percent of last year.

“As far as I know, a big number of favorites came in and that is never good, with the public behind most of those teams,” Lawton told Covers.

According to our ATS records, NFL favorites went 24-31-1 against the spread in October. College football favorites finished an even 109-109-3 ATS in October. In October 2011, NFL faves posted a 33-32-3 ATS mark while NCAAF chalk went 129-125-2 ATS.

In other sports, basketball paid out for Nevada books in October, bringing in just over $2 million. Obviously, that’s a huge difference from last year’s numbers due to the NBA lockout (3,393 percent change compared to 2011).

The baseball playoffs, including the improbable World Series run by the San Francisco Giants, helped Nevada books earn $8.65 million, with a favorable 14.72 hold percentage. That was a difference of 446 percent compared to last October.

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Posted by sports_Network
2 years ago

extremely misleading. be specific; What Books? the NGC deals in skimmed figures provided by the operators, nothing new, report 'loss' gain capitol tax
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Posted by sweetjules1104
2 years ago

I'm happy with the $1.5 mil I took in...Cha Ching Baby!!
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Posted by Jon_Campbell
2 years ago

Just to be clear, we didn't speak to anyone in Las Vegas who was complaining or 'whining' about their October. I think they understand that this is the nature of the biz. Good times and bad times, life of a gambler. These were just the numbers from the Gaming Board.
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Posted by WinsNow999
2 years ago

Vegas lost 7 millions last OCTober; but they will get all back and plus 6 more millions by SUPERBOWL 47.....peace/ They know how to get it back!
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Posted by p-lane1
2 years ago

good, ****em
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Posted by kidvegas03
2 years ago

yeah, and got all of it back and more in week 13 of the NFL.
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Posted by THEMUGG
2 years ago

Mr. Lawton appears to be a out of touch with football.
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Posted by braves5795
2 years ago

i ALWAYs find it amusing when vegas cries like an eleven year old girl.
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Posted by tomnolan
2 years ago

my heart bleeds for vegas. always crying if things dont go their way. every state should be able to book sports. they should shut up and be happy!!!!
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Posted by Loose7Deuce
2 years ago

Just curious what kind of math you have to use to get a difference of 123% when comparing -6.2mil this year to +26.5mil last year?
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Posted by tapnitruc
2 years ago

Whats wrong w/this frigin world(I did write frigin)? Dont let the man control are God given rights of freedom of speech. People need to get thicker skin and suck it up. IF I wasgay I be leading the parade and wouldnt giveashit or a ratsass what anybody else said about me.
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Posted by tapnitruc
2 years ago

again? I wrote soundsgay
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Posted by tapnitruc
2 years ago

dont edit me, I wrote ratsass. behind sounds happy!
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Posted by tapnitruc
2 years ago

I despise these articles: Vegas cries if they lose a single dollar but they dont give a rats behind if they take your last. They know and we all need to know in the long run they always win, so these articles about them having a bad run are unworthy of any givashit.
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Posted by damonte
2 years ago

How can I help?
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Posted by cockyvolfan
2 years ago

Gamblers everywhere should just feel horrible about themselves.....these innocent billionaires losing for once....just a tragedy!!!!!!!!!!!!!!
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Posted by mgmprofits
2 years ago

Vegas is a sucker!! Lol
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Top Response

Posted by Loose7Deuce
2 years ago

"Just curious what kind of math you have to use to get a difference of 123% when comparing -6.2mil this year to +26.5mil last year?"