Sports books receiving heavy action on LV 400

Tim Graham

Friday, Feb. 27, 1998 | 1:18 a.m.

The Las Vegas 400 seems to be passing the ultimate test.

Because the true measure of a sporting event's worth -- at least in Las Vegas -- is found at the betting window, one needs to look no further than a sports book to discover the newest NASCAR Winston Cup race should be a huge hit.

"The Indy 500 and Daytona 500 traditionally are the two biggest races of the year for us," Caesars Palace sports book director Vince Magliulo said. "But the handle for this race alone will surpass the handle of those two combined."

The majority of wagering will take place after Friday's qualifying. But the handle is expected to total nearly $3 million.

"And that's quite a bit for auto racing," Magliulo said.

The Las Vegas 400 is set for 11:30 a.m. Sunday at the Las Vegas Motor Speedway. It will be televised live on ABC (KTNV Channel 13).

"Because it's here, for us, it's the Super Bowl of NASCAR betting," said Bob Smith, a sports supervisor at Leroy's, which operates books in 41 casinos throughout Nevada. "I think it's going to be our best ever for auto racing."

Like the Super Bowl, the Las Vegas 400 has produced varied forms of wagering.

For those into standard odds, Jeff Gordon is the favorite. He can be had anywhere between 3-to-1 and 5-to-1, depending on the property. Dale Earnhardt and Rusty Wallace are running close behind.

Matchups, where two or three drivers are pitted against each other head-to-head, are common at many books.

And, of course, proposition bets are cropping up. The Imperial Palace, famous for its offbeat bets, has posted several, including an over-under on seven caution flags and the finishing positions of the top drivers.

Mega$ports -- offered at 60 properties statewide, including the Las Vegas Hilton, Station Casinos and its sister company, Leroy's -- is offering innovative wagering.

In addition to props such as "Best Finish by a Rookie" and "Number of Drivers to Lead," Mega$ports has created a hybrid between auto and horse racing, allowing bettors to pick a driver to win, place or show. Also available are quinella, exacta and trifecta wagers.

"I'm very excited about our more exotic wagering," Smith said. "We're taking the best aspects of horse racing and including them into auto racing. We think that will do very well."

Mega$ports also is offering odds on Saturday's preliminary races: The Busch Grand National Sam's Town 300 and the World of Outlaws Silver State Shootout.

The Las Vegas 400 provides a perfect diversion for sport bettors. It comes between the heavily wagered Super Bowl and NCAA basketball tournament.

"It comes at a great time," Magliulo said.

"And then there's the fact that Las Vegas really knows how to host an event. You add the gaming appeal to it, and this race is going to really keep growing."