Nevada sports books lose record $2.6 million on Super Bowl

[BangTheBook]

LAS VEGAS (AP) -- Nevada sports books lost a record $2.6 million on Super Bowl bets when the New York Giants upset the New England Patriots on Sunday.

The sports books handled just more than $92 million on the game, the third-highest amount ever but down for the second consecutive year.
The record was set in 2006 when $94.5 million was bet.
The last time the books lost money was in 1995, when the San Francisco 49ers blew out the San Diego Chargers, 49-26, and Nevada books lost $400,000.

Nevada Gaming Control Board analyst Frank Streshley says large amounts were bet on the money line that the Giants would win outright.

The payouts on those bets were as large as four times the original bet because New England was such a huge favorite.
The game ended with the Giants winning 17-14.

[UMDBookingRook]

that was obvious! I mean, Sportsbook.com had the money like 68% side Giants, 90% money line Giants! I thik 60% of money was on the over. It's pretty obvious a Giants win would have been devistating.

[Mush]

The biggest reason here IMO was the ML bets, I think alot of bettors who normally bet a side also took the ML for the value as well adding 4x the amount to each win

[Bobby O'Shea]

Either way its good to see the books take a bashing! I am sure they are looking torecoup the losses in March Madness!

Bobby O

[Smart Guy]

I just think that the Patriots were such an overvalued team from Week 9 on. Yes, they were hammering people early in the season. But, although they kept winning, they began to fail to cover the points with any consistency. This was a very easy bet.