|reply to Lone Wolf |
Re: [NFL] Week 3 Games Discussion
said by Lone Wolf:Here's the quote you refer to: said by AB: said by Lone Wolf:
. . the
mob Vegas boys lost $300,000,000 because of the bad call on MNF.
A completely incorrect characterization of events.
In your opinion, of course.
There was a $300,000,000 swing rather than a $300,000,000 loss in truth. The bettors lost $150,000,000 and the bookies won $150,000,000.
quote:I have no idea what happened "worldwide", nor do I have any idea why Mr. Bell would imagine he does.
Gambling expert RJ Bell of Las Vegas-based Pregame.com said an estimated two-thirds of bets worldwide were on the Packers, with about $150 million more bet on Green Bay than Seattle.
''Due to one call by the replacement refs, the bettors lost $150 million, and the bookie won $150 million for a total swing of $300 million on one debatably bad call,'' Bell said.
But you do understand how a legal Las Vegas sports book works, don't you? They make adjustments in the line as necessary to ensure there's an equal amount of money bet on both sides. They then pay off the winners bets with the losers bets, while also giving the winners their 10% commission or 'vigorish' back. The losers 10% commission is retained by the sports book, giving the sports book a 5% profit on the total amount wagered between both sides. They don't "gamble", they merely provide a booking service.
How Mr. Bell might determine that illegal bookmakers "worldwide" (read: not legal bookmakers within Las Vegas) won or lost any specific amount of money, I would have no earthly idea. Nor does the story say how Mr. Bell managed to come up with that figure.
Your interpretation that 'mob guys' in legal Las Vegas sports book establishments lost 300 million on the game is incorrect.