Vegas does not "clean up" on games. They balance the betting 50/50 and "clean up" on the 10% juice from the losers. When they have significant play on one side, they hand off to other bookmakers to balance their betting. They are not in the business to make wagers on certain sides, wittingly or unwittingly. It's all about the juice.
They try to do that, but it doesn’t get balanced on every game. Read the articles on ESPN.com on gambling. Every so often a Casino Sportsbook has large exposure on a game.
The Colorado effect is a “Prime” example:
Colorado entered the [Colorado State] contest as a 23-point favorite, but even at that sky-high number the public was shovelling money on them. The Buffaloes were the most bet on college team in Week 3, drawing two and a half times more spread wagers than any other program.
That’s been the case for three straight weeks now. Even though the books recouped some of their CU losses this past Saturday, they’ve got a long way to go before they’re back to even.
In Week 1, the Buffaloes were sportsbooks number one liability, and they cashed a +800 outright ticket against the Horned Frogs. A massive amount of Colorado action pushed them from 2.5-point underdogs to 2.5-point favorites over Nebraska in Week 2, and the Buffaloes came away with an easy cover.
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Massive Liability Dodged
Oregon closed as a 21-point favorite. Public/recreational bettors still felt confident that Colorado would not only cover the spread, but would pull off another big upset, as it did in Week 1 at
TCU.
Multiple sportsbooks reported overwhelmingly lopsided play on Colorado moneyline, which ranged from +550 to +700, depending on where you bet. At the lower end of that scale, a $10 bet on Colorado to win outright would have profited $55, for a $65 total payout.
Pregame, books were looking at a huge loss if the Buffs got an outright win. Tickets and money were piled high on a Colorado upset.
"Colorado moneyline is now the biggest liability we’ve seen in the past three seasons of college football," said Zachary Lucas, TwinSpires Sportsbook director of retail sports.
But this game was over in a hurry. Oregon led 35-0 at halftime and breezed to a 42-6 win, not only averting any thoughts of being upset, but also easily covering the three-touchdown spread.
"We [were] definitely Ducks fans today. Across the board, [we] were rooting for an Oregon blowout," SuperBook senior risk supervisor Casey Degnon said.
The oddsmakers certainly got that.
"It’s the best result of the young season so far," Lucas said. "The public took it on the chin in this game."
