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Caesars Sportsbook on hook for $2.5M payout on Raiders bet
LV REVIEW JOURNAL SUBSCRIPTIONJust win the Super Bowl, baby.
A Caesars Sportsbook bettor in Nevada has wagered $31,000 on the Raiders to win the Super Bowl at 80-1 odds.
The bet, which was placed in June, will pay $2.48 million if the Raiders win the franchise’s fourth Lombardi Trophy.
Less than two weeks before the regular season starts, the wager is the single largest liability — and only seven-figure payout — of any NFL futures bet at the book across the country.
“Throughout the year, the Raiders faithful has been backing the Raiders in every aspect they can,” Caesars head of football Joey Feazel said. “If they have a very successful season, it will be very good for the customers. But at this point, we’re comfortable in the position we’re at.”
On Aug. 12, a Caesars bettor in Nevada wagered $13,000 to win $7,878.80 on the Raiders to go over their season win total of 6½ at -165. That price has dropped in the past two weeks, to over -135.
Caesars has lowered the Raiders to 60-1 to win the Super Bowl. The Raiders are 100-1 at the Westgate SuperBook.
Week Zero hero for books
The betting public tends to back favorites and overs, so it’s not surprising that sportsbooks did well on college football Week Zero, when underdogs went 4-0 against the spread Saturday and unders went 3-1.
Georgia Tech stunned Florida State 24-21 as a 10½-point underdog in the season opener at Dublin.
UNR led Southern Methodist 24-13 after the third quarter before falling 29-24. But the Wolf Pack covered easily as 28-point home underdogs.
“With the two big TV games coming with an (underdog) outright win and a cover in the other game and two unders, we were definitely happy football is back,” Red Rock Resort sportsbook director Chuck Esposito said.
Week 1 line moves
Texas A&M’s home game against Notre Dame on Saturday opened at pick’em at Caesars. But the Aggies have climbed to 3-point home favorites, partly because of the Fighting Irish losing starting left tackle Charles Jagusah to a season-ending injury Aug. 3 during practice.
“This is shaping up to be a big pros vs. Joe’s game where the public is going to love Notre Dame and the sharps have been all over Texas A&M,” Feazel said. “The coach for Texas A&M, Mike Elko, is one sharp bettors really respect.”
There have been several other notable moves on college football Week 1 lines, which were first posted at Caesars in May.
In Thursday games, Minnesota was as high as a 2½-point home favorite over North Carolina, but the favorite has flipped to the Tar Heels -1½.
Also, Jacksonville State was as high as a 5-point home favorite over Coastal Carolina after Chanticleers quarterback Grayson McCall transferred to North Carolina State. But the line has dropped to -2½.
“The sentiment was that Grayson McCall left and was the centerpiece of that Coastal Carolina team,” Feazel said. “Now the thought process is they might not be as bad as initially expected without Grayson.”
Troy was as high as -16 over UNR, but is now a 9-point home favorite.
“We saw steam prior to Saturday’s game and came down to Troy -13,” Feazel said. “After (UNR’s) performance and defense on the field really stopping that SMU team, we’re down to (9) on Troy.”
Florida State was a 21½-point home favorite over Boston College in their Labor Day game before losing to Georgia Tech. The Seminoles are now -17 over the Eagles.
“We’re always going to see movement after the results in Week Zero,” Feazel said. “I don’t think anyone is writing off Florida State, but it certainly made a difference to the line.”
Texas has dipped from -36½ over Colorado State to -32.
Michigan State has shot up from an 11-point home favorite over Florida Atlantic to -14 in the Spartans’ first game under former Oregon State coach Jonathan Smith.
“He always has a soft spot with sharp bettors,” Feazel said.
