Props Heating Up Las Vegas
By Micah Roberts
This years Nevada Super Bowl betting handle will likely not pass $94.5 million and may be in danger of even equaling last seasons Steelers-Cardinals match-up which brought in $84.5 million through state sports book.
“We know it’s going to get pretty busy Saturday and Sunday,’ said South Point’s Sports Book Director Bert Osborne, “but right now (through 10 days up on the board) it’s been pretty quiet.”
Reports from many of the Sportsbooks have been similar, but most admit that they don’t keep a daily log of betting on the game throughout the two week period. They just know the bulk of their action will come on game day and the day prior.
“There could be something into the fact that there isn’t a big underdog like most years which really seems to stir up betting interest early with the people who feel they have to get it now or they’ll lose value,” says South Point’s Sports Book Director Bert Osborne.
The all-time record betting handle for the Nevada Super Bowl handle came in 2006 with the Steelers and Seahawks squared off with the Steelers a 4-point favorite. However, that year was right in the middle of the Las Vegas Boom where everyone was making tons of cash in all aspects of whatever business they were in.
If you worked in the casino, the tips were larger. If you were an executive, the bonus’ were larger. If in construction, there was tons of work because everyone was building. Real estate? The sales were through the roof. Regular folks were making hundreds of thousands of dollars by just flipping houses.
It was too easy in Las Vegas. All that money being made spilled over into all facets of the economy where people were buying new toys, clothes, and free spending with no regards to losing while gambling.
When the decline came, the sports books were hit as well.
“We’ve seen a loss over the last two years with that intermediate player. We still have the Sharp players and we still have the regular guy who bets $20 to $100 per day, but we’ve seen a decline in the regular guy with the larger bank roll who plays $500 to $1,000 per game,“ says Osborne.
Nevada sportsbooks overall numbers haven’t seen the dramatic declines like table games and slots, in fact they’re relatively flat from 2008 to 2009, but that regular player who was playing a dime a day has changed his definition of a dime to mean closer to $10 than a thousand.
Thus far the big plays haven’t come yet. One Sharp bettor was enticed to take the Colts on the money line laying -200 when it was the cheapest in town. Right now most Vegas books are dealing -210/+175 on the game.
The M Resort and Spa has the lowest line in Vegas right now with the Colts a 4.5-point favorite while most of the books are settled at 5 or 5.5, which appears to be a good sign, but Sports Director Mike Colbert has somewhat of an opinion the game.
“I liked the game “3” from the start and I still believe that is what the line should be,” said Colbert, “We took some early Colts action when we opened the game and it has been steady at 4.5 every since with good two way action. Until someone pushes me off the number with a huge wager, I’m staying where I’m at.”
“I have my line screens on and I can see what everyone else in town has, but I feel comfortable in my number and feel by game time we’ll all be closer to 4.”
So far, if no one is biting with the Colts laying 4.5, he may very well be ahead of the curve.
Colbert also explained that he has seen more action on his props than the game itself.
“We have seen lots of action on the Colts stat based player props that we have matched up with Saints players. Of the 20 player vs. player props, about 15 of them have been bet on the Colts players side.“
If looking for a new Las Vegas experience in Super Bowl betting, the M Resort and Spa has something for you with their "In-game Wagering System" where you can bet the game and props throughout the game. They have 108 machines hard wired throughout their sports book and lounge and also have over 100 hand held devices you can wager with throughout the casino.
Why wait in line or get up when you don’t have to?
It’s a pretty cool feature and a technological advancement that we haven’t seen the likes of being presented or passed by the Nevada Gaming Control Board since the advent of the computerized betting system 20 years ago.
The M Resort and Spa is now taking reservations for the Super Bowl to ensure you get your device.
If looking for a cool place to hang out off the strip, try downtown and visit the Golden Nugget. All the downtown properties are having big parties with ultra-cheap drink specials, but the Golden Nugget is in a category by itself. It still holds the class and style that Steve Wynn instilled in it years ago and they have spent millions in keeping in better shape than many of the decling strip properties who still gouge you.
Go say hello to the Nugget's Tony Miller and Aaron Kessler in their swanky comfortable book and they'll take care of you. The combination of a large variety of betting options, fair mangement, luxury settings, plenty of TV's, and cheap beer make it one of my favorites in Las Vegas.
If you get a chance, listen to Sports Book radio today (ESPN 1100am in Las Vegas) from 2-4pm (PT) live or archived on VegasInsider.com when we’ll be live from the Las Vegas Hilton SuperBook talking props. Jay Kornegay, LVSC’s Kenny White, Dan O’Brien, and Brian Blessing will be there along with VegasInsider.com representatives Andy Iskoe and myself.
I’ll be back tomorrow and Saturday with more happenings around town.