Sportsbooks take hit with Giants upset

Feb 5, 2008 - 12:26 AM By PA SportsTicker

The New York Giants' stunning upset over the New England Patriots in Super Bowl XLII left Las Vegas sportbooks upset.

In the most-watched Super Bowl in history, the Giants ended the Patriots' bid for perfection Sunday night with a 17-14 victory.

It was an unexpected result. After all, the Patriots were a 12 to 12 1/2-point favorite to hoist the Lombardi Trophy and become the NFL's first perfect team since the 1972 Miami Dolphins.

In the days leading up Super Bowl XLII, almost every so-called "expert" who weighed in on the game picked the Patriots to roll over the upstart Giants.

But continuing to show their resiliency, the Giants again overcame the odds, just like they did as underdogs on the road to the Super Bowl in wins over Tampa Bay, Dallas and Green Bay.

The Giants' final win was profitable for bettors and a major headache for Las Vegas casinos.

"We got crushed on the game," MGM sports book director Robert Walker told the Las Vegas-Review Journal. "The Giants winning outright was our worst-case scenario. We just needed the Patriots to win the game, and we would've been fine. There are a lot of happy customers out there."

According to the newspaper, Walker estimated tickets were written on the Giants at a 2-to-1 ratio on the point spread and a 30-to-1 ratio on the money line. The Giants were about plus-350 to win outright, meaning a $100 wager paid $350.

Walker said some large-money bets were on the Patriots, but public money overwhelmed professional play.

Walker also said business was "steady but not extraordinary," and he's unsure if the the game will set a Nevada record and approach $10 million.

It looked like Walker would be left smiling after Tom Brady found Randy Moss for a 6-yard touchdown with 2:42 remaining to give the Patriots a 14-10 lead.

However, Eli Manning directed a 12-play, 83-yard drive, providing one heart-stopping moment when he scrambled away from a sack and found David Tyree, who made a leaping catch for a 32-yard gain.

With 35 seconds remaining, Manning found Plaxico Burress for the go-ahead score, sending Giants fans and bettors everywhere into a frenzy.

"I was really surprised the Giants were able to march down the field like that and win," Walker said. "I really thought the game was over when Moss scored that touchdown.

"I didn't like the Giants. I didn't think they had a chance."

Walker was not alone.