I keep this post saved as it comes in handy several times a year....
Whether shady things happen in the world of the NFL is one thing, but to suggest “Vegas” or the “Books” have something to do with it is simply absurd. Everything is a conspiracy with some people….
As I have mentioned in previous posts on the topic, I’m a financial consultant and have worked with some of the largest gaming and resort conglomerates in the world.
Sports wagering is so far down on their radar, its non-existent. The books take is anywhere from 4.5%-5.5% on sports betting, which pales in comparison to all other gaming offered by the casino ranging from 10-30%, with the exception of slots at 6-8%. However, the handle on slots is usually 35-45 the times of the sports book. The beloved sports book, in all their mystical conspiracies, only makes up 0.4-1.5% of the gaming profit, which usually just gets lumped into the “other” category due to the insignificance of this number. The number becomes even less significant once all other revenue streams are factored in by said company.
I have never even heard of sports betting mentioned as an agenda item in any planning, budgeting or forecasting meeting with company leadership. It’s an add on, an attraction, which is an insignificant line item on their books buried so deep most couldn’t even find it. The casino is more likely to be involved in a major linen or glassware scandal then anything involving sports, as the price of towels, sheets, plates and glasses probably hits their radar more than sports wagering.
The big four table games blackjack, baccarat, craps and roulette along with slots take in anywhere from 70-80 times more profit then the sports book. Once again, these figures only represent the “gaming” portion of revenue and profit, which is one line item of hundreds for these monster companies. To put it in a bit more perspective, one of the largest outfits Vegas locations take in eight times more profit on alcohol sales than the sportsbook.