do not like their sports books and generally look at them as amenities to offer their customers and not actual revenue centers. This is because they might make some money sometimes, but they often lose as well. They would get rid of them if they could.

When sports betting went nation wide, there was a rush to get into to it in all these new states. I represented a few of these companies doing this. They are now learning that while the total handle may be huge (billions even), the actual profit is not.

It's no secret that the odds are set to keep the books even. That has always been the case. That is no deception on the casino's part. Problem is that people often don't bet rationally. For example, there might be a certain group that bets the Dallas Cowboys every single week because they are die hard fans. If the Cowboys are bad, this will mean the book has to offer odds that don't make sense because the betting on the cowboys is illogical. So Sharps (professional betters) will seize on this issue and bet like crazy on the better team that is playing the Cowboys. If you don't adjust quick enough, pretty soon you have a bunch of people who picked up the clearly superior team at very favorable odds. Now, you have two choices, lose money, or find someone (or sometimes even another sports book) that will make a "lay off" wager to balance your book out. Of course to get them to do this, you have to offer them preferential odds. Anyway, just an example, it's not easy and it isn't a money maker.