The proud and confident American betting public just turned in the worst month of NFL gambling that veteran bookmakers can remember.
Entering Monday Night Football, underdogs have covered the spread nearly 60% of games in November. Twenty-three underdogs pulled outright upsets during the month, and heavily bet prime-time favorites seemed to go down on a weekly basis…
Sportsbooks’ net profit or loss on bets is known as the “hold,” as in the amount of money that bookmakers hold onto after everything is settled. Over the last three decades, Nevada sportsbooks on average have held around 5.5% of the money bet. The SuperBook at Westgate Las Vegas was on pace to hold around 6.25% this November.