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Super Bowl Wagering Back in Black for Las Vegas Casinos
LAS VEGAS, NEVADA --
After losing money in the 2008 Super Bowl, casino sportsbooks in Las Vegas reported winning $6.7 million on the 2009 game, returning the big event to profitability. Sportsbooks have won money on every Super Bowl game except the New England Patriots- New York Giants matchup since 1995.
However, the handle dropped to $81.5 million, a decrease of eleven percent in a far important area for casinos. The amount wagered was the lowest since 2004, and the first time in four years that the total bet didn't top $90 million.
Casinos might actually prefer the small loss with a larger handle to the profit with a decline in total wagered. Sports betting doesn't make up a large percentage of casino profitability, and the books are open mostly as a means to attract gamblers to play slots and table games, where such piddling profits and losses are laughed at.
So, a handle showing a large crowd with open wallets is the most important indicator to gaming operators of Super Bowl success. The Pittsburgh Steelers' victory over the Arizona Cardinals provided for exciting television, and kept the point spread relevant to the game's end, but the recession still kept the biggest gambling day of the year on a downer.
NFL play on the regular season was down between five to seven percent, showing that fewer players were able to make gambling excursions to bet games and hen stumble into casinos, ready to risk more money in five minutes than they would play on the whole sports slate.
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