How much money do you think was lost on betting?

[Phillycat]

I'm guessing it was a WHOLE FREAKING LOT. Do they have estimates of that kind of thing somewhere?

[1gobluedem]

1. I lost fifty cents

I'm sure that just opened the floodgates.

[northzax]

2. it is the biggest single day of the year

for Vegas Sportsbooks, and I am sure your local bookie as well. I know that the one independent sportsbook entrpenuer I know (hey, I work in a bar, I know a lot of people, although I don't bet on sports) got shellacked last night. Pats fans aren't particularly good bettors, and there was a lot of money on the Jints, he was offering a low spread to try and get more money on the Pats, but people just weren't biting.

personally, I lost 5 bucks in the points-box game, but my girlfriend won 30, so it all works out.

[J-Lo Biafra]

3. I lost five stinking dollars!

:grr:

The score didn't end on any of my damn squares in the office pool! :P

[Deep13]

4. More than $8. Definitely. nt

[DS1]

5. I honestly went to bed wondering of the Pat's offensive line was throwing the game

because they certainly weren't playing. They hung Brady out of dry.

[Phillycat]

6. It was weird, as a non-fan of either team, to watch the Pat's o-line implode like that.

I was watching with mild interest just because I like football in general (I'm a Skins fan so the best part for me was Doug Williams presenting the trophy, heh), and it was really strange to watch. A line that's been invincible all season, and they can't protect against a 4-man blitz? Weird. Maybe they all secretly hate Brady... ;)

[Javaman]

7. Like my uncle said of the transport ship he was on on the way back from Europe...

fortunes were won and lost on that ride.

[Awsi Dooger]

8. The sportsbooks probably did fine

I haven't looked at any specifics yet since I'm in Miami, not Las Vegas. Friends who work behind the counter give me the bottom line when I'm home in Las Vegas.

Major variables, in this case:

* The line moved down only slightly, from 13 to 12. A balanced ticket means the sportsbooks didn't have high liability on either side

* The public no doubt lost on the total. Unsophisticated bettors love to bet the over, and at 17-14 it went way under

* Wise guys, or sharps, no doubt cleaned up. They thrill to take shots at underdogs and the under, which won both ways. Also they may have had Giants to win outright

* However, that last angle is iffy. The Super Bowl always has very low money line (outright, no points) odds on the Super Bowl. Novice or once a year bettors love to wager on the underdog to win straight up, so the number is absurdly low. That might have prevented the sharps from playing high on New York to win outright.

* Wise guys also had big money future tickets on New England to win the Super Bowl, as high as 7/1 odds if they shopped early. So those bets lost, but they might have been hedged (wagered the other way to guarantee profit).

A good place to check for info on how well the sportsbooks and bettors fared is a local online paper, like the Las Vegas Sun or the right wing rag Las Vegas Review Journal. You could also try a website like Covers.com for more of an overall perspective, including offshore books.

[Phillycat]

11. Thanks for all the info - I find it really interesting.

I have no desire to gamble myself, but I find the lifestyle fascinating.

[Awsi Dooger]

12. It has many interesting aspects to it

Anticipation is a primary goal. If you have an idea which way the line will love, that is as valuable as picking winners itself. A bettor can lock in early then be in advantage situation once the game begins.

Knowledge of the mathematical angles is vital. There are many correlations like money line to spread, or teaser odds to likelihood of a game falling in a specific range, that allow bettors to maneuver and overcome the house vigorish (take). It's hardly a matter of picking a team to cover then sitting back like a dodo.

But it helps to be in Las Vegas to take advantage of the opportunities. Offshore outfits don't vary as much and they play games to shift everything in their favor. For example, one method is profiling. If an offshore book that is based on the internet sees you bet almost exclusively favorites, the computer can identify that trend and adjust the line to screw you. I'm not exaggerating at all. Let's say their generic line is -13 but they know you probably want to give the points so your screen shows -14, and that's what you have to deal with.


I'm not going to kid anyone. Sports betting is a grind. I have good reliable systems now but they depend on faithfully applying them all year long, to hit maybe 55-56% tops. The past month I won big on the college bowl games but gave more than half of it back by losing on the NFL playoffs.

[Phillycat]

13. Do you do this as your primary source of income, or is it a hobby?

I heard a woman poker player interviewed on NPR's "This American Life" show, and she said that even though she's one of the most successful poker players in the world right now (sorry, I can't remember her name) that she's been down tens of thousands of dollars at any given time over the years she's been playing, even hundreds of thousands. She says you have to be patient and wait for things to turn around, that mathematically, they always will. I think the reason I find this life so fascinating is because I know for sure I wouldn't be able to tolerate the risk involved. I require a steady income to be able to sleep at night. Obviously professional gambling is at the far end of the risk spectrum, but there are many other careers I would love to pursue that fear keeps me from. I am interested how people in risk-oriented careers manage their stress.

[KitchenWitch]

9. I am not sure, but if I were a betting person I would have taken the Giants and the points

with the under!

:D

[meegbear]

10. I won $50 ...

$2 squares at the bar, unfortunately, it was the 17-14 score that gave it to me :cry:.

[Westegg]

14. Not much, considering the point spread...

...the Vegas line was ridiculous! What was it at game-time, still 12? But what do I know? I bet the Giants to win. I got lucky. Never a good gambling strategy.