Bracket busted? Your loss is sportsbooks' gain - FOX5 Vegas - KVVU

Bracket busted? Your loss is sportsbooks' gain

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Fans enjoying March Madness inside the Mandalay Bay Sportsbook on March 19, 2016. (Robbie Hunt/FOX5) Fans enjoying March Madness inside the Mandalay Bay Sportsbook on March 19, 2016. (Robbie Hunt/FOX5)
LAS VEGAS (FOX5) -

The first four days of March Madness have come and gone and so far, the local sportsbooks are all smiles.

While South Carolina was celebrating, tickets at the Westgate SuperBook, were being ripped up.

"Those types of results certainly favor the sportsbooks in general. I think we had some mixed results yesterday, but overall very positive for the sportsbooks the last four days," Jay Kornegay, VP of the Las Vegas Hotel and Casino Superbook said.

He said the Westgate SuperBook is handling 15 percent to 20 percent more action on the NCAA tournament this year than they did in 2016.

"Even though there are not official stats, talking to my colleagues we all agreed it would surpass the number we would see for the Super Bowl," Kornegay said.

Russ Axelrod is a gambler who started with a $300 bet and rode the Green Bay Packers win streak up to $2,800, before the Packers lost to the Falcons and Russ lost it all.

This time Russ did something similar with Duke, putting $5,800 on the Blue Devils, before seeing them exit early courtesy of South Carolina.

"This bet does not sting as much as Green Bay because one, Green Bay has toughened me up as a sports bettor," Axelrod said.

All Vegas gamblers may have different strategies, but at least one thing remains constant.

"Vegas always comes out on top, look at the beautiful super book behind me, you don't build this thing on losses," Axelrod said.

The question now is, who is the smart bet to win it all?

"This book, the SuperBook, (is) probably rooting for Kansas," Kornegay said.

"I'll tell you who I don't like: South Carolina," Axelrod said.

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