Books survive WC favorites
By Micah Roberts
VegasInsider.com
Las Vegas sports books were hoping wild card weekend would give them a boost in revenues after one of the toughest NFL seasons they've ever experienced, but the worst scenario came to fruition as all four favorites won and covered.
"I think I'm going to get a tattoo that says Packers and Over," joked Westgate Las Vegas SuperBook VP Jay Kornegay about Green Bay's 38-13 win over the Giants. "It happens all the time, so I might as well."
It doesn't quite happen all the time, but during their current seven-game win streak (6-1 ATS), the Packers have gone 'over' the total in their last five games. The Giants looked to have a good grip on the game during the first-half with its defense playing well and holding a 6-0 lead in the second quarter, but then the flood gates opened and the Packers (-5) would go on a 38-7 run with and help the game go 'over' 46.5 total points in freezing Lambeau Field conditions.
But rather than complain about the losses, some of the book bosses considered themselves somewhat fortunate the losses weren't worse.
"Even with four favorites, it's not as bad as it looks," said Kornegay. "The Seahawks and Steelers staying under really helped us out. But yes, we're definitely a loser on the day, but no, it's not the disaster you might think."
The Steelers took care of business at home against the Dolphins, 30-12, covering the spread that got as high as -12.5 on Sunday morning while staying 'under' 47.5. On Saturday night the Seahawks beat the Lions, 26-6, as eight-point home favorites while the 'under' (45.5) connected.
"Not great," said MGM Resorts VP Jay Rood regarding the Wild Card weekend at his 10 books, "but not as bad as we might of thought. We really got helped out by having some big play on Detroit Saturday. A couple of big house players liked the Lions and put us in a spot to need Seattle."
It was the battle of back-up quarterbacks in Houston on Saturday that kicked off the weekend, and the Texans beat Oakland 27-14 covering (-4) and the game went 'over' (37.5). The total going to the high side eased some of the risk, but sharp money had pushed the Texans up from -2.5 and forced the move past -3.
Despite the favorites coming in, a few of the books in town actually managed to show a small profit.
"We lost in the parlays as per usual these last few weeks," said CG Technology VP of risk management Jason Simbal. "But we actually needed the Packers because we took some big Giants money-line action. It could have been worse, but we won money on the weekend at a small percentage."
South Point sports book director Chris Andrews was in the same boat saying, "We actually made a little bit. I don't know how, but we did."
The books aren't quite out of the woods yet and danger lurks Monday night with extended risk tied into college football National Championship game left over from the four wild card games.
"Yes, we have a lot of liability to Clemson taking the points and the money-line; we need Alabama," Kornegay said.
Most books are in the same situation as of Monday morning where Alabama is a consensus 6.5-point favorite with a total at 51. It's not often the books get to root for the best team in the nation in the biggest college game of the year.