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Casinos Hit Hard After Uncharacteristic NFL Weekend

It seems that several online sportsbooks took big hits last week after what seemed like a record number of favorites won their NFL matchups.  In what some are calling Black Sunday for bookmakers, it was even more fitting that it was the thirteenth week for NFL action that brought upon the uncanny results.  Of course, the players are not complaining about week thirteen, which for most of them, paid out in the green. 

What happens in the online sports betting industry is that the majority of bets are consistently placed on the favorites.  It is when the favorites lose that sportsbooks make most of their money.  Usually, there are at least a handful of upsets each week, which helps to keep business flowing on a more profitable level for the bookies.  However, when results like last weeks strike the betting world, online sportsbooks are hit hard.  If that were to happen every week, they would inevitably go out of business.  To get an idea of how unbalanced it was, ten out of sixteen favorites won and covered their point spreads last weekend.  In the sports betting world, that is truly uncharacteristic.

This is why several online casinos and sportsbooks are praying for a more normal upcoming weekend.  A spokesperson for Sports Interaction commented that as happy as they are for their winning customers, they are praying for some underdogs to to turn things around this week.  If not, fourth quarter earnings could shape out much differently than what was expected.  As for the casinos offering more of a diverse selection of bets, not to mention casino games, losses were not nearly as bad.

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