- Sports betting at Las Vegas sportsbooks have the home teams getting the most action.
- Lines for Championship events will change as more bets are placed on them.
- Tourists and locals both have an impact on the odds given to teams at any major sporting event.
LAS VEGAS – Sports betting lines in Las Vegas are impacted by the pro teams in their state and the amount of action they’re receiving at sportsbooks. A variety of teams in Nevada are favored this season by Vegas bookmakers and locals as well as tourists who are betting on them to win.
But is all this action on specific teams a good thing?
The Las Vegas Sports Betting Scene
The biggest draw for visiting Las Vegas is the gambling aspect. This includes more than just casino games. Vegas is huge on sports betting and as many local sportsbooks do, they tend to favor their home teams because of bettor’s home-town bias.
The problem with this is the fact that the more a specific team is bet on for any one event, the more likely it is that the sportsbook will need to move the lines. This means less of a payout for anyone gambling on the teams but it’s something that must be done by sports betting establishments in order to balance their lines.
If they do not move the lines and continue to get plenty of action on one team in a game, they leave themselves open to huge losses. In order to cushion the blow of an impending loss when it’s time to payout on the favored teams that have won, they need to change the lines and take a smaller hit when all is said and done.
Not only are the gamblers engaging in gambling, but the Nevada sportsbooks are also as well.
Depending on the number of wagers they take in and the odds they’ve set in place, everything factors into whether they’ve done the right thing when it comes to taking a loss, breaking even, or making money on an event.
Because Las Vegas is such a tourist attraction, this hurts the payout amounts of locals, as tourists add to the moving of lines with their betting activities.
The Lines In Vegas
Currently, sports betting establishments in Vegas have listed all their teams with favorable odds and have been getting several bets on every single one of them. According to the Westgate Las Vegas SuperBook, the odds are in favor of the Vegas franchises, or at least the bets are. For example:
2020 WNBA Championship Odds
- Las Vegas Aces – +300
- Connecticut Sun – +400
- Phoenix Mercury – +600
- Seattle Storm – +600
2020 Stanley Cup Odds
- Las Vegas Golden Knights – +800
- St. Louis Blues – +800
- Boston Bruins – +800
- Colorado Avalanche – +800
As can be seen by the Vegas SuperBook, Vegas teams are favored to win the Championships. While the Las Vegas Raiders are at (+4000) to win Super Bowl 55, they have still had quite a few bets placed on them to win in their first year as a Las Vegas team. This has caused their odds to change to what they are now.
It’s common knowledge that tourists and locals will usually put a little action on the home team, no matter the event. Supporting the local teams is great until it causes the lines to change. But when everyone tries to get in on the great bet at the same time, lines will always change either way. It’s not personal, it’s strictly business.
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.