300,000 football fans are expected to watch Super Bowl XLII in Las Vegas this year. I honestly don’t see the draw: sure it’s fun to watch the game with a couple hundred rabid fans but all the sports books are crazy crowded and it’s tough to make a bet or find a place to sit.
The casinos are expected to take in a record $100M in wagers this year. Sounds like a lot until you consider that many estimate total Super Bowl gambling will top $10B (most of it illegal and unregulated like office pools). On top of that, with the Giants winning outright (the spread was Pats -12) it looks like the sports books had a tough weekend.
But don’t feel too sorry for them. The brilliant Vegas business model comes through again: tonight I saw hordes of jersey-clad Giants fans giving back their Super Bowl winnings and more at the card tables. Viva Las Vegas!