LAS VEGAS – The South Point hotel and sportsbook, located just a few miles south of the Las Vegas Strip, became the center of attention recently as a mysterious bettor made headlines with massive wagers on the Super Bowl. The individual known as “Mr. $300,000” came to the betting window in the early hours of the morning, placing a staggering $300,000 bet on the San Francisco 49ers to win against the Kansas City Chiefs. However, after realizing he didn’t have enough cash on hand, he left the casino and returned later with $243,000 to place another bet on San Francisco.
The team at the South Point, including sportsbook director Chris Andrews and his peers Jimmy Vaccaro and Vinny Magliulo, have a combined 147 years of experience in the industry. They pride themselves on the old-school approach to bookmaking, combining both art and science in adjusting odds based on the bets of respected “wiseguys.” Their philosophy revolves around being able to discern whether a bettor is a sharp or a square within moments of meeting them.
Unlike many other sportsbooks, the South Point doesn’t rely on star-studded advertising campaigns or elaborate promotions to attract customers. Instead, the hotel offers reasonable odds, friendly service, and $1.50 hot dogs to entice patrons. The establishment is one of the few remaining family-run hotels in Las Vegas, owned by 80-year-old Michael Gaughan, who oversees the operation with a distinct old-fashioned sensibility.
Despite the rise of online sports betting, the South Point still conducts about three-quarters of its business in person, managing to take more bets than any other operator in the state. As the sports betting industry continues to evolve, Andrews and his colleagues express dismay with the changes they’ve observed, such as aggressive betting limits imposed on customers who show winning tendencies.
For Andrews, who learned the ropes of the sports betting business from his uncle at an early age, the focus remains on letting the money dictate their decisions. The team spent several days ahead of the Super Bowl setting prop bets and adjusting odds manually, while other major operators rely on algorithms and automation to handle the task.
Despite the anticipation and flurry of activity leading up to the game, the South Point ended up taking slightly less on the Super Bowl than initially projected. However, the house came out ahead on the game and fared even better on props, reminding everyone that the art of bookmaking still holds its own in the ever-evolving world of sports betting.