Nevada sportsbooks reporting significant losses after Vegas Golden Knights Stanley Cup payouts
The Vegas Golden Knights did more than just win the Stanley Cup in 2022-23 - they also happened to make history as the youngest NHL expansion franchise to win a Cup. Unfortunately for Nevada sportsbooks, while the city and state celebrated, they were stuck calculating their extensive losses.
A new report from the LA Times shows residents of Nevada bet an astounding $323 million on the Golden Knights to come out on top and beat the Florida Panthers to win the Stanley Cup, which they did in June.
"According to the Nevada Gaming Control Board, state sports books lost a staggering $6.6 million on hockey wagers in June � the largest monthly loss in hockey since the state started tracking that category in January 2020."
"'Yeah, that's a significant loss for a sports betting category, definitely,' Michael Lawton, senior economic analyst for the Nevada Gaming Control Board, told The Times." - LA Times
"'Yeah, that's a significant loss for a sports betting category, definitely,' Michael Lawton, senior economic analyst for the Nevada Gaming Control Board, told The Times." - LA Times
Naturally, nobody is feeling bad for the various sportsbooks since nobody is ever rooting for the house, except the house.
Source: LA Times
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