Las Vegas bookies look for increase in handle

The college football season kick-off is still a week away with the NFL to follow a week later, but there’s already been some early betting action that has encouraged Las Vegas bookies and shifted some of the opening lines.

"There’s been a lot of anticipation from bettors and we’re expecting a good season," said the sports book director of a "locals" oriented Las Vegas casino. "Our numbers have been off a little the last couple of years, but this season could be our best in awhile."

Indeed the amount wagered on football the last two years has slipped since the 2007 season, when Nevada sports books handled about $1.8 billion in wagers.

The handle – the total amount wagered by players – slipped about $84 million in 2008 and about $40 million last year.

The amount bet on parlay cards slipped from about $66.8 million in 2007 to $64 million in 2008 and $60 million last year.

Even though the amount bet on parlay cards is significantly less than straight football bets, parlay cards hold a whopping 30 percent or more of the amount handled (straight bets hold between 4 percent and 5 percent).

Even though the 2010 football season has yet to begin in earnest (NFL preseason action has never been significant), there’s been enough early play to give sports book directors hope.

"We haven’t taken a lot of huge wagers, but there’s been steady action, especially on some of the future odds to win the Super Bowl or to win the BCS national championship," said the sports book manager of a Harrah’s casino on the Las Vegas Strip. "This summer we’ve had a lot of vacationers who wanted to make bets while they were in town, since they wouldn’t be here for the start of the season."

The "steady action" has been significant enough to move some of the early future book lines.

For instance, over the past couple of weeks, the Saints and Cowboys have each been bet down from 9-1 to win the Super Bowl to 8-1, according to Jay Kornegay, sports book director at the Las Vegas Hilton.

Other teams getting early Super Bowl support include the Green Bay Packers, who were bet from 10-1 to 9-1, and the Washington Redskins, who went from 40-1 to 30-1. The Miami Dolphins were bet down to 20-1 from an opening 30-1.

The lack of betting support has caused some Super Bowl odds to increase. If you like the New York Jets or the New England Patriots, you can get 12-1 for each of them to win the Super Bowl, up from 10-1 two weeks ago.

The Eagles, without Donovan McNabb (now with the Redskins), slipped from 20-1 to 25-1.

In the college ranks, the Ohio State Buckeyes are the new favorite to win the BCS national championship. Ohio State is now the 9-2 chalk, although last year’s champ, Alabama, was bet down from 6-1 to 5-1 last week.

Also receiving support were the Iowa Hawkeyes, bet down from 10-1 to 25-1, and the North Carolina Tar Heels, bet from 100-1 to 75-1.

The opening week betting lines have seen some movement, mostly on the college football board.

A key game in the national championship hunt is LSU’s opener with North Carolina on Sept. 4. The Tigers, playing at home in Baton Rouge, opened a 1-point favorite but steady action on the Tar Heels pushed them to a 1-point underdog.

Early action on Kansas State, which was a 2-point home underdog to UCLA, shifted the line to pick ’em (even money).

In the NFL, the only line to move involved the Lions/Bears game, which was bet from Chicago -7 to -6½.

There has been some significant money bet on a few other teams, according to Las Vegas sports book directors. Those teams include Miami -3 versus the Bills, the Browns +3 versus Tampa Bay, and Houston +3 at home versus the Colts.

For updated Super Bowl, BCS or other future book odds, check out this website.