Six years ago the sports world couldn’t get enough of the possibility of Nevada sportsbooks getting absolutely crushed by the Golden Knights winning the Stanley Cup in their first season. There were countless numbers of stories about 100:1, 200:1, and even 500:1 tickets that would destroy the casinos if VGK pulled off three more wins.
But, that didn’t happen, and instead, it just went away like many sports gambling stories in which the casinos were in danger but ultimately still came out on top.
Well, this year the same could not be said for local sportsbooks.
Despite the relative lack of hoopla surrounding it this time around, Nevadans still showed their Golden Knights fandom with their wallets and when the 16th win became a reality for once, the house didn’t win.
According to the most recent Nevada Gaming Control Board’s monthly revenue report, Clark County casinos lost more than $6.5 million in the month of June on hockey bets alone.
The Golden Knights played five games in the month of June, all Stanley Cup Final games against the Florida Panthers. VGK won four of the five, won the series, and cashed all futures from the season. Three of the five games hit the over (which is much more commonly bet than the under) and the Golden Knights covered the “puckline” (to win by two or more) in three of the four wins netting bettors nearly +200 per game.
The hockey losses put a major dent in the overall profit casinos made in the month.
It was the first time statewide sports revenue failed to reach $10 million in a month unaffected by the COVID-19 pandemic since the books claimed less than $4.1 million in July 2018. At 1.98%, the hold rate was below 2% for the first time since a 1.6% win rate was posted in December 2021. –Chris Altruda on USBets.com
No, winning the Cup in Year 6 wasn’t quite as sexy as winning it in the inaugural season. But, six years later, the payoff was just as sweet.