[hudibras]

>One that typically brings minimal profits and can sometimes bring enormous losses because now they are taking the action themselves. Sportsbooks are not typically profit centers for casinos but loss-leaders to bring in people to buy drinks and gamble on more profitable games.

While this is true for places with competition among sportsbooks, like, say Nevada or the internet, it's not necessarily true for the states. If they start running a sportsbook (either themselves or, more likely, through a contractor) with a monopoly in their particular state, then they'll be able to charge more per-bet than they otherwise could. Instead of the standard 11:10 line, they could charge 12:10 or even 13:10 and they'd still get gobs of bettors wanted to put money down at the only legal game in town.