Sports Betting Favored by Fans - 8 News NOW

Sports Betting Favored by Fans

Posted: Updated:
  • Betting on the FutureMore>>

  • 8 on Your Side Breaks Down the Best Casino Bets

    8 on Your Side Breaks Down the Best Casino Bets

    Friday, November 8 2013 1:49 PM EST2013-11-08 18:49:32 GMT
    LAS VEGAS - It often takes a little luck to win big in Las Vegas, but players don't have to rely on it. Knowing which games give you the best odds helps, and that has nothing to do with luck and a lotMore>>
    Which casino games should you play if you want to win big? 8 on Your Side breaks down the statistics to show which games offer the best odds at a big payday.More>>
  • Bingo's Your Best Bet

    Bingo's Your Best Bet

    Monday, December 30 2013 4:24 PM EST2013-12-30 21:24:18 GMT
    Next time you walk past a bingo parlor you'd be foolish to make fun of the players. Nevada casinos had a lower win percentage on bingo last year than any other gambling activity, according to data fromMore>>
    Where do casinos make and lose the most money? You might be surprised to find out just which games are costing Valley casinos big.More>>
  • I-Team: High-Priced Gifts Lavished on High Rollers

    I-Team: High-Priced Gifts Lavished on High Rollers

    Wednesday, November 13 2013 2:43 PM EST2013-11-13 19:43:55 GMT
    LAS VEGAS -- Nevada's gaming industry is still trying to climb out of the hole created by the recent recession, which means the competition among casinos for the loyalties of so-called whales is ferocious.More>>
    Nevada's gaming industry is still trying to climb out of the hole created by the recent recession, which means the competition among casinos for the loyalties of so-called whales is ferocious.More>>

Sports betting is one of the few bright spots in Nevada's gaming industry, with a record $3.45 billion wagered statewide in 2012.

Data from the UNLV Center for Gaming Research shows that the total handle bet on sports recovered nicely in 2010 after a slight downturn caused by the last recession. Last year's handle was 33 percent higher than the pre-recession record of $2.59 billion wagered on sports in 2007.

The $170 million the sports books won last year also was second highest on record, trailing only the $191.5 million earned in 2006.

But the betting public has been doing a better job in recent years, judging by the shrinking percentage of money gambled that the sports books are retaining. After reaching a high point of keeping 7.89 cents of every dollar gambled in 2006, the books kept only 4.93 cents of every dollar wagered last year.

The most lucrative action for sports books is wagering on parlay cards, with the books keeping 23.3 cents of every dollar bet in 2012. Still, that profit margin is down sharply from prior years.

When it comes to individual sports, the books did slightly better on basketball last year (keeping 4.91 cents of every dollar bet) than on football (4.37 cents kept) and baseball (4.34 cents retained).

Although the 182 sports books that operated in Nevada in 2012 was double the number of books that existed in 1990, they accounted for only 1.57 percent of the money won last year by Nevada casinos with nonrestricted gaming licenses.

  • Las Vegas NewsLas Vegas NewsMore>>

  • BREAKING NEWS: North Las Vegas Police investigate double shooting, one dead

    BREAKING NEWS: North Las Vegas Police investigate double shooting, one dead

    Saturday, April 19 2014 12:49 AM EDT2014-04-19 04:49:04 GMT
    North Las Vegas, NV. --North Las Vegas police are investigating a double shooting Friday night shortly before 8 p.m.Investigators said two men were shot at a home on Arbor Crest Street, near East Tropical Parkway and Donna Street.A 60-year-old man was taken to UMC Trauma with his condition unknown at this time. The second victim, a 37-year-old man, sustained non-life threatening injuries and treated on scene.Police are investigating the shooting as a domestic violence incident.More>>
    North Las Vegas, NV. --North Las Vegas police are investigating a double shooting Friday night shortly before 8 p.m.Investigators said two men were shot at a home on Arbor Crest Street, near East Tropical Parkway and Donna Street.A 60-year-old man was taken to UMC Trauma with his condition unknown at this time. The second victim, a 37-year-old man, sustained non-life threatening injuries and treated on scene.Police are investigating the shooting as a domestic violence incident.More>>
  • BREAKING NEWS: UMC lays off 100 employees

    BREAKING NEWS: UMC lays off 100 employees

    Friday, April 18 2014 9:52 PM EDT2014-04-19 01:52:41 GMT
    University Medical Center laid off more than 100 employees Friday and announced it will close four care centers.More>>
    University Medical Center laid off more than 100 employees Friday and announced it will close four care centers.More>>
  • Police investigate double stabbing

    Police investigate double stabbing

    Friday, April 18 2014 9:17 PM EDT2014-04-19 01:17:18 GMT
    Two people suffering stab wounds were rushed to the hospital Friday afternoon, Metro Police said.More>>
    Two people suffering stab wounds were rushed to the hospital Friday afternoon, Metro Police said.More>>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KLAS. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.