Nevada sports books suffer record $11.4M loss after World Series

Nevada sports books lost a record $11.4 million on baseball in November after bettors cashed on the Astros beating the Los Angeles Dodgers in Game 7 and on futures wagers on Houston to win the World Series.

It was the largest baseball loss ever suffered in a month by the state’s sports books, according to Michael Lawton, the Nevada Gaming Control Board’s senior research analyst.

The books still won $9.8 million overall in November, their 52nd consecutive winning month. That was due in large part to a $10.8 million win on football (college and NFL) and a $6.6 million win on basketball.

The books’ previous record baseball loss was $6.2 million in November 1999, when bettors cashed their winning tickets on the New York Yankees following their World Series sweep of the Atlanta Braves.

Houston furniture store owner Jim “Mattress Mack” McIngvale was one of several bettors to win big on the Astros. He said he placed more than $1 million in hedge bets on Houston to win the World Series to help cover about $10 million in purchases he had to refund to customers for a promotion when the Astros won the World Series.

A mysterious high roller also won millions on the World Series during an incredible hot streak.

“Those two guys combined crushed Vegas,” CG Technology sports book vice president Matt Holt said. “Before you know it, a $5 million win for the state turns into an $11 million loss.”

The state’s casinos won $909 million overall, including $274.7 million on penny slots.

More betting: Follow all of our sports betting coverage online at reviewjournal.com/betting and @RJ_Sports on Twitter.

Contact reporter Todd Dewey at tdewey@reviewjournal.com. Follow @tdewey33 on Twitter.

ad-high_impact_4
Sports Betting Spotlight Videos
Sports Betting Spotlight: NFL conference championships
Review-Journal sports betting columnist Todd Dewey, handicapper Kelly Stewart and CG Technology sports book vice president Matt Holt preview the NFL’s conference championship games.
Sports Betting Spotlight: NFL divisional playoffs
Review-Journal sports betting columnist Todd Dewey, handicapper Kelly Stewart and CG Technology sports book vice president Matt Holt preview the NFL divisional playoffs.
Sports Betting Spotlight: College Football National Championship
Review-Journal sports betting columnist Todd Dewey, handicapper Kelly Stewart and CG Technology sports book vice president Matt Holt preview Monday’s college football national championship.
Sports Betting Spotlight: NFL Wild Card playoffs
Review-Journal sports betting columnist Todd Dewey, handicapper Kelly Stewart and CG Technology sports book vice president Matt Holt preview the NFL’s Wild Card playoff weekend.
Sports Betting Spotlight: NFL Week 17
Todd Dewey, Kelly Stewart and Matt Holt go over their picks for week 17 of the NFL.
Sports Betting Spotlight: College Bowls Week Three
Todd Dewey, Kelly Stewart and Matt Holt go over their picks for week three of the college bowl games.
Sports Betting Spotlight: College Bowls Week 2
Review-Journal reporter Todd Dewey, handicapper Bernie Fratto and The Mirage sports book director Jeff Stoneback preview the college football bowls.
Sports Betting Spotlight: NFL Week 16
Review-Journal reporter Todd Dewey, handicapper Bernie Fratto and The Mirage sports book director Jeff Stoneback preview Week 16 of the NFL season.
Sports Betting Spotlight: College Football Bowl Edition
Todd Dewey, Kelly Stewart and Las Vegas Wynn Sports Book Director Johnny Avello go over their picks for the college bowl games.
Sports Betting Spotlight: NFL Week 15
Todd Dewey, Kelly Stewart and Las Vegas Wynn Sports Book Director Johnny Avello go over their picks for week 15 of NFL football.
Sports Betting Spotlight: NFL Week 14
Review-Journal reporter Todd Dewey, handicapper Kelly Stewart and TI sports book director Tony Nevill preview NFL Week 14.
Sports Betting Spotlight: NFL Week 13
Review-Journal reporter Todd Dewey, handicapper Kelly Stewart and The Mirage sports book director Jeff Stoneback preview Week 13 of the NFL regular season. (Las Vegas Review-Journal)
Sports Betting Spotlight: College football Week 14
Review-Journal reporter Todd Dewey, handicapper Kelly Stewart and The Mirage sports book director Jeff Stoneback preview Week 14 of the college football season. (Las Vegas Review-Journal)
Sports Betting Spotlight: College Week 13
Todd Dewey, Kelly Stewart and Matt Holt give their picks for week 13 of college football.
Sports Betting Spotlight: NFL Week 12
Todd Dewey, Kelly Stewart and Matt Holt give their picks for week 12 of NFL football.
Sports Betting Spotlight: College football Week 12
Todd Dewey, Kelly Stewart and Bob Scucci go over their picks for college football week 12.
Sports Betting Spotlight: NFL Week 11
Todd Dewey, Kelly Stewart and Bob Scucci go over their picks for NFL football week 11.
Sports Betting Spotlight: NFL Week 10
Review-Journal reporter Todd Dewey, handicapper Kelly Stewart and CG Technology Sports Book Vice President Matt Holt preview Week 10 of the NFL.
Sports Betting Spotlight: College Football Week 11
Review-Journal reporter Todd Dewey, handicapper Kelly Stewart and CG Technology Sports Book Vice President Matt Holt preview Week 11 of the college football season.
Sports Betting Spotlight: College Football Week 10
Review-Journal reporter Todd Dewey, handicapper Kelly Stewart and Boyd Gaming Sports Book Director Bob Scucci preview Week 10 of the college football season.
Sports Betting Spotlight: NFL Week 9
Review-Journal reporter Todd Dewey, handicapper Kelly Stewart and Boyd Gaming Sports Book Director Bob Scucci preview Week 9 of the NFL season.
Sports Betting Spotlight: NFL Week 8
Review-Journal reporter Todd Dewey, handicapper Kelly Stewart and The Mirage sports book director Jeff Stoneback preview Week 8 of the NFL season.
TOP NEWS
News Headlines
ad-infeed_1
ads_infeed_2
Local Spotlight
Events
Home Front Page Footer Listing
Circular
You May Like

You May Like