'Seven-figure' bet placed on Patriots, Vegas could lose if New England wins
The Patriots have cost Nevada casinos before and they could cost them again.
Westgate SuperBook vice president Jay Kornegay credited the book's success last year to two things: The teams and the growing popularity of sports gambling.
"I believe that the spike that we saw last year was mainly due to the two teams participating in it and the overall growth of sports betting," Kornegay told CBSSports.com. "Progress (or in-game) wagering also boosted those numbers -- so there's a few factors that were involved in setting that record with last year's game."
Looking at the numbers above, it might seem like the House always win, but that's not completely true, the House has lost on a Super Bowl before -- and the Patriots were involved the most recent time it happened.
Back in February 2008, Nevada casinos lost $2.57 million when the 12-point underdog New York Giants upset the undefeated Patriots in Super Bowl XLII.
Ironically, the Patriots could cost Vegas again this year -- if they win.
At least one person put over $1 million on the Patriots this week, according to the Sporting News. The exact amount of the bet isn't known, but MGM Resorts did say it was a "seven-figure" bet on the Patriots.
Other Vegas books might not be seeing seven-figure bets, but they're seeing a lot of bets on the Patriots.
"We’re not as heavy on New England as we were the last few days after taking some money on Seattle today," South Point bookmaker Jimmy Vaccaro told the Las Vegas Sun. "But I’m just guessing, like everyone else at this point, that we'll come out a little top heavy on New England."
However, Vegas' luck could change before the Super Bowl kicks off on Sunday. With Seattle being so close to Vegas, Kornegay said he could imagine a scenario where Seahawks fans come to town and bet their team over the weekend.
"I would think that we're going to get a small bump from Seahawks fans coming through," Kornegay said.
With all the money being bet on the Patriots though, a small bump might not help.
Anyway, you can see below how Nevada casinos have fared in Super Bowl wagering since 1991. Besides Patriots-Giants in 2007, the only other time the books have lost came in January 1995 when the 49ers beat the Chargers in Super Bowl XXIX.
Amount Bet on the Super Bowl Each Year
|2014||$ 119,400,000||$ 19,700,000||16.50%||Seahawks 43, Broncos 8|
|2013||$ 98,936,798||$ 7,206,460||7.30%||Ravens 34, 49ers 31|
|2012||$ 93,899,840||$ 5,064,470||5.40%||Giants 21, Patriots 17|
|2011||$ 87,491,098||$ 724,176||0.83%||Green Bay 31, Pittsburgh 25|
|2010||$ 82,726,367||$ 6,857,101||8.29%||New Orleans 31, Indianapolis 17|
|2009||$ 81,514,748||$ 6,678,044||8.19%||Pittsburgh 27, Arizona 23|
|2008||$ 92,055,833||$ (2,573,103)||-2.80%||N.Y. Giants 17, New England 14|
|2007||$ 93,067,358||$ 12,930,175||13.89%||Indianapolis 29, Chicago 17|
|2006||$ 94,534,372||$ 8,828,431||9.34%||Pittsburgh 21, Seattle 10|
|2005||$ 90,759,236||$ 15,430,138||17.00%||New England 24, Philadelphia 21|
|2004||$ 81,242,191||$ 12,440,698||15.31%||New England 32, Carolina 29|
|2003||$ 71,693,032||$ 5,264,963||7.34%||Tampa Bay 48, Oakland 21|
|2002||$ 71,513,304||$ 2,331,607||3.26%||New England 20, St. Louis 17|
|2001||$ 67,661,425||$ 11,002,636||16.26%||Baltimore 34, New York Giants 7|
|2000||$ 71,046,751||$ 4,237,978||5.97%||St. Louis 23, Tennessee 16|
|1999||$ 75,986,520||$ 2,906,601||3.83%||Denver 34, Atlanta 19|
|1998||$ 77,253,246||$ 472,033||0.61%||Denver 31, Green Bay 24|
|1997||$ 70,853,211||$ 2,265,701||3.20%||Green Bay 35, New England 21|
|1996||$ 70,907,801||$ 7,126,145||10.05%||Dallas 27, Pittsburgh 17|
|1995||$ 69,591,818||$ (396,674)||-0.57%||San Francisco 49, San Diego 26|
|1994||$ 54,483,221||$ 7,481,541||13.73%||Dallas 30, Buffalo 13|
|1993||$ 56,811,405||$ 7,174,869||12.63%||Dallas 52, Buffalo 17|
|1992||$ 50,334,277||$ 301,280||0.60%||Washington 37, Buffalo 24|
|1991||$ 40,080,409||$ 3,512,241||8.76%||New York Giants 20, Buffalo 19|
Information via the Nevada Gaming Commission.
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