2011-12-09
You wrote that the sports book is a big "loss leader" for casinos. That is, it makes no money and even suffers losses on its own, but it brings people into the casino where they spend more money. I don't get it. It would seem that a sports book has to make money! It makes 5% of all bets -- that's a lot of money. Over the long haul, that's a much bigger edge than blackjack tables or most table games. I can't see how the sports books could not be profitable in the long run! Are you sure?