Belmont Stakes 2012 Vegas Odds Pretty Much All Slashed in Half Over Last 24 Hours

With the exception of a few entries, mostly the long shots, Vegas odds for the 2012 Belmont Stakes were mostly slashed in half with some prices cut by even more following Friday’s announcement that I’ll Have Another would not be running. 

Union Rags, for example, had climbed to 6/1 just minutes before favorite I’ll Have Another was scratched.  He’s now hovering around 2/1 odds at the online sportsbook Bookmaker.  Forecast rain looks like his odds could be cut further by post time.

I’ll Have Another had been gunning for the first Triple Crown win in over 35 years but was abruptly sidelined a little more than 24 hours prior to the race due to an injury. 

With the possibility of a Triple Crown looming, Vegas oddsmakers had been hoping for this year’s Belmont Stakes to turn out a huge draw, translating into some heavy betting action. 

"It is certainly a buzz kill," LVH sports book director Jay Kornegay said. "Of all the events taking place this weekend, I thought the Belmont was the biggest one. It's very disappointing that we're not going to see the chance of a Triple Crown. I'm estimating it's going to reduce our race handle by about 40 percent."

[Current Belmont Stakes Betting Odds Online]

Another oddsmakers suggested to the Las Vegas Review Journal that the Belmont Stakes will only take in approximately 25 percent of the wagering action that would have occurred with I’ll Have Another in the race.

Of course, I’ll Have Another stood a pretty good chance of winning and the bookies may have been slaughtered.

No need to cry for the Vegas bookies, or those online sportsbooks, as this weekend holds plenty of wager-friendly events including Saturday night’s Pacquiao-Bradley fight, an NBA Eastern Conference Finals elimination game and a potential Stanley Cup Finals elimination game, not to mention they’ll still do fine with the Belmont Stakes. 

ODDS TO WIN THE BELMONT STAKES

- Don Shapiro, Gambling911.com