Betting Public Takes Down Sportsbooks in NFL Wagers Once Again
Betting
The last three weeks may be causing some sportsbook operators to re-think their position in advocating for legal sports betting in the United States.
For the third week in a row, the betting public scored huge victories over sportsbooks in betting on the National Football League. While the final tally for the NFL’s Week 7 action wasn’t nearly as bad for sportsbooks as Week 6, it still was an overall win for the betting public.
Sportsbook operators generally consider themselves to have an advantage over the betting public. But, with so many more people legally wagering on sports in the U.S., maybe the public is simply becoming more educated and better at beating the books.
Big Win on the Detroit Lions
One of the biggest Week 7 losses for sportsbooks across the country was on the underdog Detroit Lions, who faced off against the Los Angeles Rams. The Rams came into the game with a 5-1 record, while the Lions had lost all six of their games.
Naturally, sportsbooks installed the Rams as a 16.5-point favorite over the Lions, who were traveling across the country to play the game. Game records are insignificant for sports bettors, though. The Lions, for instance, were 3-3 against the spread coming into the Week 7 tilt with the Rams.
The game also featured two quarterbacks who were traded for each other in the offseason — the Lions’ Jared Goff and the Rams’ Matthew Stafford.
One individual bettor wagered $275,000 on the Lions, and won $250,000 when Los Angeles only won by 9 points, 28-19.
Another Sunday Night Win
Sportsbooks ended Sunday of Week 7 in a really bad way. The primetime tilt featured the 2-3 San Francisco 49ers hosting the 2-4 Indianapolis Colts. The 49ers were favored by 3.5 points, but the public was all in on the Colts.
Roughly 65% of all bets and nearly 63% of all money wagered on the game was on the Colts. While the game was close all the way into the fourth quarter, the Colts ultimately pulled away for a 30-18 win.
An extremely rainy night in San Francisco may have played a part in quarterback Jimmy Garoppolo throwing two untimely interceptions. Either way, it was a huge loss for sportsbooks.
One individual bettor risked $410,021 by taking the points with the Colts, and was rewarded with $341,684 when they won the game outright.
Other Public Wins
NFL Week 7 featured some other large wins by the public over the sportsbooks. Some of the worst losses for the sportsbooks were the Tampa Bay Buccaneers covering as a very public 12-point favorite against the Chicago Bears, the Las Vegas Raiders covering as a 1-point favorite over the Philadelphia Eagles, the New England Patriots covering the 7-point spread against the New York Jets, and the Green Bay Packers dismantling the Washington Football Team and covering their 8.5-point spread.
The only large winner for the sportsbooks last Sunday was the New York Giants defeating the Carolina Panthers outright. The Giants were actually 3-point underdogs in that game, and the public was backing the favored Panthers.
The only team in the NFL that is undefeated against the spread thus far is the Dallas Cowboys. They have a 6-0 record ATS, which is close to their 5-1 actual record in games.
Two teams are 6-1 ATS for the season — the undefeated Arizona Cardinals (7-0 actual record) and the Green Bay Packers (6-1 record). While actual game records don’t always match up with ATS records, they do help guide the general public’s thinking.
Sportsbooks around the U.S. are hoping for some more luck heading into Week 8 of the NFL season.
What do you think?
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