it isnt the odds, its the take thats the killer. gambling works on a very small margin, vegas gets it so they dont kill them since they know its the other stuff that brings in the money. the states are only looking at the money. Right now some states have the tax rate higher than the actually revenue instead of just taxing the profits.. Listen to the vegas chatter on this, its pretty crazy. MLB and others want want a % of the bets made thats actually higher than the returns on the bets. the only way to do that is to lower the payouts but a lot..