Sports Books Took an Unlucky Hit in 2012

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Publish: January 8, 2013

As one of the most popular online gambling platforms, betting on sports through the sports books at various online casinos can be a very fun and profitable gambling option. Most of the time, as in most situations, the majority of the fun and profit is going to be had by the casino taking the bets. While this is still there situation, many online sports books took a beating by gamblers in 2012.

Experts in the industry feel that although the year was widely profitable for most sports books, an unexpected number of win from underdog teams and athletes are to blame for lower than average returns. In the United States, where American football accounts for nearly half of the betting through sports books, a season that has been full of upsets by discounted underdogs has led to a number of financially losing weeks for the casinos taking the bets.

Countless tales of $20 tickets being turned into $1,000 have been circulating on the internet throughout the current NFL season.

Gamblers have been drawn to online sports books in recent years from the traditional brick and mortar casinos due to lower fees and easier, quicker service. While many physical sports books may charge $10 per $100 bet, online those rates are often cut in half. Because of this, the explosion of gamblers turning to online sports books is huge.

Both land-based and internet sports books has seen significant decreases in the amount that players have been betting. Both the global recession and an unlucky year of taking bets has led industry leaders to announce that gaming revenue 10-15% lower for most large casino operators than at this time five years ago.