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Bookies Hope Super Bowl Betting Super For 2010

Michael Santo's picture

Last year, aside from the obvious issues in the unemployment, home prices, and the myriad other issues around the recession, one thing made it clear we were in big trouble. Bookies saw a huge decline in Super Bowl betting. They don't expect it this year.

In fact, bookies are hoping for a super recovery in betting this Super Bowl season. Note that last year's huge drop doesn't include office football pools, which is a whole different story.

However, in Las Vegas alone, bookies saw Super Bowl betting for the 2009 Super Bowl drop more than 11 percent year-over-year. In fact, the $81.5 million, was the lowest money bet on the Super Bowl since 2004. According to a report, it was the drop in six-figure bets that unnerved bookies the most.

There was nothing wrong with the contest itself. It was a a 27-23 Steelers victory over the rather unheralded Arizona Cardinals, who put up an impressive fight. There's also little wrong with interest in the game itself. It was interest in possibly losing money in an already questionable economy that was low.

Jay Rood, race and sports book director for MGM Mirage, said “Our handle’s been real strong since the middle of November. The second playoff weekend, we weren’t expecting the crowd we had.

“The betting was off (in Las Vegas) last year during the Super Bowl. But there’s no sense that we’ll be impacted significantly by the economy this year." "Handle" refers to the amount of money bet on a sporting event, by the way.

There's strong interest exhibited by the burgeoning number of Super Bowl propositions already available. A proposition or prop is an unusual bets such as who will win the coin toss and what color of Gatorade will be dumped on the winning coach.

Some of the props already available:

The line on the team to make the longest field goal still favors the Saints, but it's at -130, down from an opener of -145.

Another line move took place on the prop asking if the Super Bowl will be tied after 0-0. It opened as a pick 'em, -115 either way, but the "yes" side has been adjusted to -125.

One of the early props at all Lucky's properties in Nevada asks in which quarter the most points will be scored.

Written by Michael Santo

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