Westgate SuperContest Expected to Again Break Entry Record, 2018 Top Prize Could Eclipse $1.5M
Posted on: September 2, 2018, 10:00h.
Last updated on: August 31, 2018, 10:39h.
The Westgate SuperContest, the most popular season-long NFL spread betting tournament in Las Vegas, says the competition is once again on track to break its buy-in record.
According to the Las Vegas Sun, which spoke to Westgate SuperBook Vice President Jay Kornegay, as of August 30, total entries are at 2,075. That’s 300 more than at the same time a year ago.
The SuperContest is a $1,500 buy-in that challenges players to make five weekly NFL picks against the spread. Each correct selection is awarded a point, and a push garners a half-point.
The season-long winner takes home 33 percent of the entire pot, which is on pace to be around $1.5 million. The top 100 finishers all receive money, from the runner-up snagging around $580,000, to the 81st through 100th finishers receiving roughly $2,400.
The Westgate SuperContest continues to expand in participation. Kornegay says it was just 2005 when entries totaled 505. In 2017, there were 2,748 entries.
A lot of first-time contestants win the championship. You don’t have to be a highly skilled player,” Kornegay said of the enthusiasm. “If you put together a good year, you can be a millionaire. It’s life-changing money.”
Players don’t have to be in Nevada to place their weekly bets. In fact, the majority of SuperContest participants are out-of-state residents who make their picks through a proxy service. Kornegay says roughly 65 percent of the SuperContest field reside outside the state.
In addition to the SuperContest, Westgate offers up its annual SuperContest Gold challenge. The $5,000 entry winner-takes-all event is additionally on pace to break last year’s 94-entrant field.
Kornegay says the casino has taken 77 Gold $5,000 entries to date. At that pace, the winner will be looking at a payout of around $650,000. Of course, every single other player will be left empty-handed.
Sports Betting Expansion
The Supreme Court of the United States overturned the Professional and Amateur Sports Protection Act (PASPA) of 1992 in a 6-3 decision in May. The decision removed the federal ban on sports gambling and allowed states to determine their own laws and regulations on the matter.
Delaware, New Jersey, and Mississippi have already joined Nevada in allowing full-fledged sportsbooks to operate. And while some might believe the expansion of sports betting might damper Las Vegas, industry pros say that won’t be the case.
The parallel would be if you think back on casino expansion throughout the United States. That has actually benefited … Las Vegas because people want to go to the market leader. I think the same will happen with sports betting,” MGM Resorts CEO Jim Murren said following the PASPA repeal.
Nevada sportsbooks kept a record $248.77 million haul last year on a 5.1 percent win rate. The $4.86 billion that was wagered marked the Silver State’s eighth consecutive year where more money was bet than in the prior year.
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