The sportsbooks had a very good weekend, mostly thanks to the New York Jets. Yes, the Jets! Sunday’s Week 16 NFL action had favorites going 7-4 against the spread but three of the underdogs winning outright, making it a rough week for the betting public.
“This past weekend was a pretty good one for the book,” Thomas Gable, sportsbook Director at The Borgata said.
DraftKings sportsbook director Johnny Avello shared similar sentiments, “Overall, it was a very good weekend.”
Jets Fly High
It all started late Saturday, when ESPN’s Adam Schefter reported that the Cleveland Browns wide receivers group had been deemed High-Risk-Close-Contacts and were expected to be placed on Reserve/COVID.
Shortly thereafter, we found out that wide receivers Jarvis Landry, Rashard Higgins, Donovan Peoples-Jones, KhaDarel Hodge, and linebackers Jacob Phillip would miss the game.
Cleveland was favored by 10 points at most books even before the news about their receivers broke. But, by kickoff, the line settled at Cleveland -6.5. Prior to the COVID-19 news, the Browns were riddled with injuries on both sides of the football, but that didn’t stop bettors from hammering Cleveland.
“The Cleveland Browns was a disastrous game for the player,” Avello said. “Even though the line dropped to 6.5, they laid the points and Browns moneyline bets as they didn't think the Jets could win 2 games in a row.”
“The Jets winning outright against Cleveland was the biggest decision for us,” Gable echoed. “Cleveland was tied into a lot of parlays and teasers as the public was pretty sure that the Jets couldn’t pull out two quality outings in a row.”
Gable also pointed out that the Philadelphia Eagles losing outright to the Dallas Cowboys helped make it a winning weekend for the Borgata.
As for the games that weren’t so hot for the books? For DraftKings it was the New Orleans Saints, Chicago Bears, and Baltimore Ravens all covering the number. “Those were the worst games, everything else did well,” Avello said.
Gable said the Colts-Steelers game was a rough decision for the Borgata.
“We took some bigger bets on Pittsburgh in that one," he said. "The game featured a line where Pittsburgh opened as the favorite (prior to their Monday night loss to Cincinnati), then moved to the Colts as the favorite and eventually back to a pick.”
So there you have it. It's still hard to believe the Jets went from locks to land Clemson Quarterback Trevor Lawrence to winning two games in a row. The books appreciate it!
Big Money
As for notable big bets, the largest reported wager from Week 16 was a $500,000 moneyline bet on the Carolina Panthers to beat the Washington Football Team at -115, placed with BetMGM. The Panthers won 20-13, and the bettor netted $434,782.60.
Three other wagers at BetMGM paid off big:
•$220K to win $200K on Jets +6.5
•$177,727 to win $104,545 on Packers -170 moneyline
•$148K to win $40K on Bears -370 moneyline
Bad Beats
It was a rare week for bad beats. We didn’t see any traditional ones, as in a score in the last minute to blow up a spread or a total. With that being said, I can feel the pain of Indianapolis Colts -1 backers. Despite having a 21-7 lead entering halftime and seemingly dominating both sides of the ball, the Colts ended up losing 28-24.
Another bet that sticks out in similar fashion is the Bucs-Lions over. The total was 55 and Tampa Bay was up 34-0 at halftime. Most over bettors were feeling good at the break. The Bucs ended up winning 47-7, with the total landing on 54 points, breaking over backers hearts.
Lastly, the Eagles-Cowboys game provided some gambling and fantasy fireworks. After 39 combined first half points, the scoring came to a halt in the second half. Things were looking bleak for over bettors until a pass interference call on the Eagles late in the fourth quarter led to a CeeDee Lamb touchdown, which helped cash the over for some and push for others. As for fantasy, that Lamb touchdown definitely swung some championship matchups.
The ebbs and flows of betting on football, right?