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Lakers Championship Could Be Costly To BoDog Sportsbook

by: JamieD On  Thursday, June 11, 2009

Lakers Championship Could Be Costly To BoDog Sportsbook Total Pro Sports – It is one of the toughest things as a spectator to watch the sports team you have just placed all you money on go down in defeat.  For Bodog Sportsbook, watching the many teams that have faced the Lakers lose has been all the more painful.

With enormous amounts of money being put on the Lakers to win this season’s NBA championship, the sports gambling company began a promotion where anyone who put money on a team other than the Lakers to win the championship would receive $50 back if the boys in purple and gold were the last squad standing.  With Los Angeles up 2-1 in their best-of-seven series against the Orlando Magic, it seems to be only a matter of time before Kobe and his teammates are raising the trophy.So what does that mean for Bodog?  The company’s manager, Richard Gardner can tell you the amount they are expected to lose, right down to the last penny: $394,411.50.  That’s likely enough to make anyone pray for a miracle, or perhaps a little “Magic” from the boys of Orlando:

“(Lakers coach) Phil Jackson is 43-0 in the playoffs when his team starts the series with a 1-0 lead, which is an unenviable position to be if you play for the Orlando Magic or if you’re the Bodog Sportsbook.  We had over 8,000 players take us up on our pre-playoff promotion.”

It appears no one is getting it right in this year’s NBA playoffs.  First Nike was wrong in assuming a Kobe vs. LeBron finals (luckily Jimmy Kimmel found a solution).  Now Bodog is paying for it’s mistake.

Sportsbooks are usually the one’s profiting from betting, rather than the one’s doing the gambling themselves.  In this case, Bodog rolled the dice on the league rather than the Lakers, and the league lost.  Unless the Magic can pull off the incredible shocker, it will be the bookie’s turn to pay up this week.

Hat Tip – [SportsBiz]




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