Nevada Sportsbooks Handle $154.6 Million during Super Bowl

Nevada Sportsbooks Handle $154.6 Million during Super Bowl

Sunday wasn’t just great for Kansas City Chiefs, who won Super Bowl 54 and lifted the Lombardi Trophy. Nevada sportsbook also had a decent run as they handled bets worth $154.67 million. The state’s sportsbooks retained 12.1% or $18.77 million of the total, creating a new record.

Figures released after Super Bowl

Nevada Gaming Control Board (NGCB) typically releases the betting figures a day after the Super Bowl. This time it waited for one more day to incorporate data from an unidentified sportsbook operator at the Las Vegas Strip. Sandra Morgan, the chairwoman of NGCB, declared a sportsbook win of $18,774,148 on total wagers amounting to $154,679, 241.

Nevada Sportsbooks Handle $154.6 Million during Super Bowl

The sportsbook wager total and hold are the second biggest for the state to date. The record for the highest amount of bet was during the 2018 Super Bowl. Philadelphia Eagles defeated New England Patriots that year. The record for the highest hold percentage was established in the 2014 Super Bowl when Seattle Seahawks defeated Denver Broncos. That year, the state’s sportsbooks enjoyed a 16.5% hold.

Operators were gung-ho

Sportsbook operators in the state were optimistic about good figures even before the NGCB released official figures. According to an MGM spokesperson, the company’s sportsbooks could have had their best year since at least the year 2008. The official data incorporate figures from 190 Silver State sportsbooks. The board doesn’t break down revenue and win percentage for each property.

However, it is widely stated that Lake Tahoe and Reno sportsbooks could be big beneficiaries of this year’s Super Bowl. Their proximity to Bay Area in California and the Golden State’s aversion to legal gambling could have helped them get more bets from 49ers fans.

Nevada sportsbooks have also benefitted because of under hitting. This year, the Super Bowl closing total was 52.5 points only. This also proved Nevada’s supremacy in the gambling industry. Its closest competitor New Jersey, which has only recently legalized gambling, experienced yet another disappointment during the event. This year, it lost $4.28 million on a handle of $54.28 million.

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.