A Giant Loss for Nevada Casinos: $2.6 Million on Super Bowl XLII

Nevada sports books lost a record $2.6 million on Super Bowl bets because the 12-point underdog New York Giants upset the New England Patriots 17-14.

Jay Kornegay, executive director of the Hilton race and sports book, told AP: "The anticipated large wagers that we expected on the Patriots just never materialized."

Kornegay said the Giants got as much as 60 percent of the bets.

The last time Vegas lost money on the Super Bowl was in 1995 when the casinos dropped $400,000 after San Francisco destroyed San Diego 49-26.

Commentary

The Giants should not have been 12-point dogs. Anyone who had seen the Patriots' three other Super Bowls and the Week 17 meeting between the teams knew it was going to be close. The Giants were an easy bet to make.

However, those who actually bet them to win on the money line and took in $475 for a $100 bet deserve credit for having that much guts, faith or, insanity—whatever you want to call it.

Fantasy Football Impact

None.

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