The risk and insurance we are discussing has nothing to do with product spoilage. Usually a seller of alcohol has to carry Liquor Liability Insurance to cover injury to self, injury to others, property damage, resulting lawsuit (which can be large), etc..As some else posted, the university are self insured, so they are not taking out a large policy here. Exactly what risk are they taking out here selling alcohol? They can't sell all the beer and have to hold it over until the next week?
If the risk and reward was not enough to make up for it, then no stadium would be selling it.