Las Vegas Sportsbooks Take Big Loss On Monday Night Football Over/UnderKansas City Chiefs and Los Angeles Rams Combine For 105 Points, Third Most All Time |
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It was billed as a clash between two offensive juggernauts. The 9-1 Kansas City Chiefs traveled to the 9-1 Los Angeles Rams for a highly-anticipated Monday Night Football showdown, and the contest easily exceeded the hype.
Las Vegas sportsbooks thought they had made the proper preparations, setting an over/under line that ranged anywhere from 62 to a record-setting 64. It was an absurd line meant to balance the betting on both sides of the action. Gamblers, however, weren’t fazed by the big number, and heavily bet the over. In fact, Willliam Hill reported 69 percent of the bets came in for the over.
The outcome wasn’t pretty for the sportsbooks. The Rams outlasted the Chiefs in an epic game that saw a combined 105 points, the third most all time. It is the only time both teams have scored at least 50 points in NFL history.
A spokesperson for William Hill told ESPN that the game resulted in a “healthy seven-figure loss” for the company and their more than 100 Nevada sportsbooks.
The NFL accounts for a majority of Las Vegas sportsbook bets. Americans bet about $150 billion each year on sports, mostly on the black market, according to the American Gaming Association. Sports betting is far outpacing all other forms of gambling for Nevada’s casino industry. The market in terms of revenue is expected to grow to as much as $6 billion within the next five years.
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