Super Bowl Betting: Why Vegas Wants the Patriots Over the Giants

On Super Bowl Sunday, most fans in New York will be rooting for the Giants and most in New England will be rooting for the Patriots.

But what about Las Vegas?

With most of the betting public on the side of the Giants, Sin City will become New England-West this weekend. So far, 60 percent of the betters are placing their money on the Giants.

All of the New York money has forced the point spread to move from three and a half to three points. At most sports books, you can't even bet the Giants at the usual minus 110. Giants plus three has moved to minus 120, meaning one must bet 120 dollars to win 100.

A Patriots victory that covers the spread would mean a big pay day for the Las Vegas casinos. Over the last seven Super Bowls, betting totals have averaged almost $89 million per year.

Even if the Giants cover the spread, it will be very hard for Vegas to lose money. Last year, most of betters favored the Packers, who covered the spread and won the game. According to the Nevada Gaming Control Board, its Vegas sports books still finished in the black.

Las Vegas has only lost money on two Super Bowls since reporting its totals in 1992. One of the two was in 2008, when the Giants upset the Patriots, when the Giants were a 12-point underdog.

The only chance the sports books take a bath is if New York wins the game outright. The public likes the Giants at plus three, but it loves the moneyline. Seventy-two percent of moneyline bets are on the side of New York.

Gamblers love to see Las Vegas lose, but between prop bets and the point spread moving, that likely won't happen.

There's a reason for the saying the house always wins.