In Vegas, the house always wins. At least in the long run. In the short term, sometimes the bettors can come out ahead.
And that’s exactly what happened in January, when sports bettors cleaned the casinos’ clocks when betting on football.
According to David Payne Purdum of ESPN, Nevada sports books lost $8.25 million on football bets in January, the first month that the Nevada casinos lost money on football since January of 2013.
It was a good month for both college and NFL bettors: The casinos took a bath on Clemson’s upset win over Alabama for the college football national champions, and the teams picked by the majority of the betting public went 9-1 against the spread in the 10 NFL playoff games in January.
Casinos had only had a worse month on football once ever, in November of 2005.
Of course, in the long run, the casinos are still doing just fine. The majority of people who bet on football lose money. But January was, for bettors, a pleasant exception.