Nevada Sportsbooks Lose World Series, as Chicago Cubs Win First Title Since 1908
Posted on: November 3, 2016, 02:00h.
Last updated on: November 3, 2016, 09:50h.
Nevada sportsbooks lost a lot of money today after the Chicago Cubs won their first World Series since 1908 over the Cleveland Indians last night.
The preseason favorite to go all the way in the minds of baseball analysts, for Cubs fans, the team remained underdogs until the last out of game seven last night in Cleveland. With the Cubs’ extra-inning victory in the winner-take-all series showdown, the “Curse of the Billy Goat” has finally been lifted after 108 years.
While much of the nation, at least outside of Ohio, is celebrating, Nevada sportsbooks are paying out on Chicago bets. And the losses will total in the millions of dollars.
The Cubs attracted the most bets in Nevada throughout the year and in the World Series. The money was 2-1 in Chicago’s favor at MGM’s sportsbooks in the Silver State.
“We still need the Indians,” Mirage sportsbook director Jeff Stoneback told ABC News before game seven. The world got the Cubs.
The Cubs entered the 2016 season with odds as short as 4-1 at some Vegas sportsbooks. Considering the franchise’s long title drought, that was quite remarkable.
And while Cleveland was fresh off its own first major championship title since 1964 thanks to the NBA’s Cleveland Cavaliers, and “Believeland” took hold as the city’s new motto, bettors in Vegas believed in the Cubbies.
Twice as much preseason money was bet on the Cubs than on any other team. The San Francisco Giants garnered the second most money, but lost to the Cubs in the National League Division Series.
“It’s amazing to see how many people are betting the Cubs,” Stoneback said in February. “Every year, there are always a lot of tickets. You get the people that are betting them just because they’re the Cubs and the people who are betting them because they actually think they’re going to win.”
Before the season began, the Westgate SuperBook had the Cubs at 4-1 to win the World Series, and the Indians at 16-1.
Underdog vs. Underdog
Combined, the Cubs and Indians hadn’t won a World Series in 176 years. Last night, one had to win, though it took an extra inning for the momentous occasion.
Up 6-3 heading into the bottom of the 8th inning, the Indians scored three to tie the game. Rajai Davis’ two-out, two-strike, two-run homerun forced managers Joe Maddon and Terry Francona to get creative with their bullpens.
A 17-minute rain delay allowed the teams to gather their emotions. The Cubs did that better.
“Sometimes rain can be a bad thing, but the way we ended that inning, I felt like we needed that rain,” Cubs outfielder Jason Heyward said. “I knew we were ready to do what we did.”
In the 10th, World Series MVP Ben Zobrist’s RBI double put the Cubs ahead for good.
“It was like a heavyweight fight,” Zobrist said after it was all over. “Just blow for blow, everybody playing their heart out. The Indians never gave up either, and I can’t believe we’re finally standing, after 108 years, finally able to hoist the trophy.”
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