Re: Why favorites are on a roll in NFL \'05
[ QUOTE ]
The profit/loss from the sportsbook at the Taj on any given Sunday, no matter how big the swing, is a fraction of a drop in the bucket.
[/ QUOTE ]
Interesting you choose a casino that is (was?) in bankruptcy. Besides I thought NJ didn't have sports betting? In any event nothing is a drop in the bucket and those huge sportsbooks have a ton of overhead and the whole idea of them (for the casino) is to offer that service and collect the juice.
But how long do you think the sportsbook execs keep their cushy jobs if they start losing money in a business with practically guarenteed profits? They have a guarenteed 10% edge. If they try to squeeze an extra couple percent out by taking a side which is ultra risky they are fools.
Casinos aren't in the business of gambling, they are in the business of getting mathematical edges. Sportsbooks offer one of the best mathematical edges available if they can get equal action so that becomes their goal.
|