Las Vegas Sportsbooks Got Crushed And Suffered Major Losses Caused By NFL Playoff Upsets On Sunday

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It seems like everyone and their mother bet on the Steelers and the Packers to upset the home teams this weekend causing Las Vegas sportsbooks to suffer major losses.

Via ESPN

William Hill, which operates sportsbooks at 108 locations throughout the state, reported suffering the worst day in the company’s five-year history in Nevada. So much parlay liability had built up over the weekend, the book’s “seven-figure” fate was sealed before the underdog Pittsburgh Steelers beat the Kansas City Chiefs 18-16 Sunday night.

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After Saturday’s action, favorites were 6-0 straight up and against the spread. But on Sunday, bettors backed the underdogs, taking the Green Bay Packers and Steelers plus the points and on the money line.

“Seemed like a blue-collar betting day with public parlaying, teasing and pounding money lines on Packers and Steelers,” said Bill Sattler, the director of specialty games for Caesars Entertainment.

TMGM took twice as much money on Pittsburgh plus the points as it took on Kansas City, but the more severe damage was done by parlays.

“It’s just colossal,” Jay Rood, vice president of MGM race and sports, said of his shop’s loss.
“Awful,” said Westgate SuperBook assistant manager Ed Salmons of the weekend’s results. “Can’t be worse.”

I’m not much of a gambler but I regret not putting a shit ton of money on the Steelers right now.

H/T The Score