The risk of sports betting: Sportsbooks are not happy after taking 7 figure loss

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MLB betting: Shohei Ohtani winning MVP hurts sportsbooks

Sportsbooks taking the loss: Shohei Ohtani took the league by storm in April. By early May, there was strong feeling this was for real. By the end of May, we knew the only thing stopping Ohtani was injury.

The money came in early and it did not stop coming in. Ohtani was far and away the biggest liability for AL MVP at BetMGM. Eighty-seven percent of all money wagered on the award backed Ohtani bringing home the hardware.

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A Caesars Sportsbook in Nevada will pay out nearly $1 million to just one bettor with Los Angeles Angels pitcher/designated hitter Shohei Ohtani winning the American League MVP Award. On March 19, a Nevada bettor placed a $30,000 bet on Ohtani to win the award at 30/1 odds.