Odds makers in Las Vegas cheer at the news the NFL Lockout is over by posting odds for Week 1 of the NFL regular season.
Sin City's odds makers had been holding off posting NFl regular season odds for Week 1 since April, anxiously awaiting to learn that the Lockout was over.
The Lockout threatened to derail the multimillion-dollar business betting the NFL stands for in Las Vegas. No wonder Las Vegas bookies posted smiles from earlobe to earlobe at the news NFL Players Association and the league's owners have reached agreement on their 10-year labor contract.
Las Vegas sports books posted odds as soon as report on the reached agreement became official. Giant odds maker Cantor Gaming went above and beyond and released betting odds on every and each of the upcoming 257 NFL games for the upcoming 17 week season.
Cantor signed an agreement to run the race and sports books at the Venetian and the Palazzo Las Vegas at the end of June. The massive odds maker is the exclusive sports book operator at the M Resort Spa Casino, the Hard Rock Hotel & Casino, the Tropicana Las Vegas and the Cosmopolitan of Las Vegas.
This is what Jimmy Vaccaro, one of Nevada’s most respected odds maker, told the Las Vegas sun on Monday. “Nobody will go to a team and drastically change the odds,” Vaccaro said. “It’s not like LeBron James going to the Miami Heat; they went from 40-1 to win the title to 7-2. I do not think Peyton Manning or Tom Brady are going to another team.”
Betting the NFL is a vital business for everyone in Las Vegas, not only sports books. Hotels, Restaurants, and Bars thrive on the sport America loves the most.
"It's huge," Johnny Avello, who runs the Wynn's Sports Book, tells KTNV-TV La Vegas. "It's our biggest sport of the year." "[Without NFL] the hotel revenue would suffer, together with cocktail servers, beverage revenue, all of that would be affected," Avello says.
"Football games probably add 300 percent to our Sunday profit," says Gordie Hill, the General Manager of Rum Runner and Badger Cafe, on Tropicana. "Without it, like any local establishment, our Sundays are pretty quiet."
While Vegas Bookies and odds makers were anxiously waiting, elsewhere was business as usual. Offshore bookmakers posted Week 1 Odds well ahead of their land based competitors. Being out there first might expose some offshore bookies to the risk of being taken to the cleaners on week one, especially on game totals.