Giants Kill Vegas, but NOT Biggest Upset Ever!
The only sports bettor on Forbes’ recent list of Gambling Gurus, RJ Bell of Pregame.com provides a sports betting recap of Super Bowl XLII.
Las Vegas, NV (2/3/08) - The Super Bowl is the biggest one-day sports betting event of the year. Over 10 BILLION dollars was expected to be wagered on the game by 200 million people worldwide. RJ Bell of Pregame.com provides the truth behind the fallout from the Giants victory.
The point spread opened with the New England Patriots a 14 point favorite; but big New York Giants money quickly moved the line down to minus 12. The point spread stayed very close to that number for the next thirteen days. The expected weekend money on the favorite was not significant enough to move the point spread upward.
Super Bowl XLII was NOT the biggest upset in Super Bowl history – that claim stays with Joe Namath and the Super Bowl III winning NY Jets, a 17 point underdog vs. the Baltimore Colts.
Money line bets hit Vegas the hardest. Money line bets focus on which team wins the game, with no regard for a pointspread. Some reports had over 90% of the money line bets backing the Giants!
Typically a 12 point favorite such as the Patriots would be approximately -700 on the money line, but there was so much disproportionate money on the Giants to win the game the money line was as low as -450 in some spots. Payoffs on the Giants ranged from $350 to $425 for every $100 wagered.
RJ Bell of Pregame.com said: “Heavy Giants backers combined with the casuals fan’s inclination to ‘take a shot’ for a big payoff with the underdog resulted in a huge win for bettors.”
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RJ Bell, president of http://Pregame.com, has been featured on CBS News with Katie Couric, ABC News with Charles Gibson, Nightline, Sportscenter, Outside the Lines (ESPN), First Take (ESPN2), ESPN.com, ESPN National Radio, Yahoo, AOL.com, CNN.com – and in Wall Street Journal, Associated Press, LA Times, Newsweek.com, Maxim, and Forbes.
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