The State of Nevada reported a record month for September in regards to sports gambling. They profited $56.3M with $44.3M coming from football. A total of $571M was wagered during the month. If you’ve never been to Vegas, let this be a sign that you probably won’t take that city like you have probably dreamed about on occasion. Yeah, I was that guy once.
The fact that this record was set in the first full month that sports wagering was available in several other states makes this more impressive. It also could possibly justify that country wide legalization is removing the taboo aspects of gambling. New Jersey, Mississippi, Delaware, West Virginia, and New Mexico threw their collective hats into the ring recently and this looks to have a positive parallel effect on Nevada, and mainly Las Vegas.
So what do these numbers tell us? For one, it tells us that gambling is hard. Nevada hasn’t had a losing month since July 2013. Over 5 years of consistent profits tells me that we, the diehard sports fans, still can’t figure this out. I doubt I would want it to be any different. Sure, I’d love to be the exception who rakes in the cash each and every night, but I’m not. And neither are you. I was in Las Vegas a few weeks ago and was once again reminded that I’m not that guy. Sports gambling can humble even the most well informed bettor. If you can hit 60% of your bets, that’s considered to be well above average. I’m not there, but I do get lucky occasionally.
One thing I try to avoid is what we call the WTF spread. Perfect example is a few weeks ago, in Vegas, my buddies and I saw that the Bears were only laying 3 points to the Dolphins. We all felt it should have been 6 or 7. That’s a WTF spread. Stay away from those, guys. We bit, the Dolphins won, we lost, Vegas won. We didn’t take our own advice, it was too tempting. It was the exact result that Vegas was going for. From time to time, you’ll see those spreads that the bookmakers are just begging you to bet on. That’s part of their success; knowing when to put them out there.
When the October numbers come out next month, just know that yours truly, along with several of my friends, contributed to these numbers. You’re welcome, you beautiful city. I’ll be back though, I’ll try again. I can honestly say that over half of my trips result in at least a small profit, but the last 2 have not. I’m looking to change that trend, as I check flights for Super Bowl week. Prop bets are a blast and I’m sure to take that city down this time, right? Right?!?
As always, gamble responsibly. My rule is to only bet what I can afford to lose, then assume that I’m going to lose each bet. That way, my head will never end up in the clouds, whether I’m winning or losing. Enjoy the wins; buy a round of drinks, eat a steak at a high end Vegas Steakhouse, or just put it away. Most importantly, never let the losses get you down or have you start chasing. There are a lot of Pawn Shops in Vegas that live off those bettors. It’s best not to be a statistic.