Nevada sportsbooks win record $22.1 million on Super Bowl despite betting decline

Nevada sportsbooks secured a record $22.1 million in winnings from Super Bowl LIX, despite a drop in total betting handle, according to figures released Tuesday by the Nevada Gaming Control Board.  

The total amount wagered on the game fell to $151.6 million, down sharply from last year’s record $185.6 million when the Super Bowl was held in Las Vegas for the first time. This year’s figure marks the lowest handle since 2021.  

“Not having the game at Allegiant was a contributing factor in addition to not having a team from neighboring California [San Francisco 49ers] play in the game,” said Michael Lawton, senior economic analyst at the Gaming Control Board.  

However, the Philadelphia Eagles’ 40-22 victory over the Kansas City Chiefs as a 1-point underdog proved lucrative for sportsbooks, as most bettors had backed Kansas City. The total points easily surpassed the 48.5 over/under line.  

“Our best-case scenario was the Eagles win outright and go over. So it was a really, really good win for the house,” said Lamarr Mitchell, MGM Resorts’ director of trading, in a Las Vegas Review-Journal report. “It was a really, really good win for the house.”  

Unlike last year, no $1 million bets were reported on the Super Bowl. In 2024, eight wagers of at least $1 million were placed nationwide, including five in Las Vegas.  

BetMGM in Nevada took the four largest bets this year, including two $750,000 wagers on the Chiefs and additional six-figure bets on the under.  

“Super Bowl LIX was the biggest betting event in BetMGM history — it took the most bets and was one of the best single-game results in company history,” said Christian Cipollini, BetMGM’s senior trading manager, in the report.

At halftime, with Philadelphia leading 24-0, sportsbooks saw a surge in live betting, as customers bet heavily on a Chiefs comeback.  

“A significant amount of wagers flooded in on Kansas City at longer odds on the money line and all spreads we posted,” said Craig Mucklow, Caesars Vice President of Trading. “This rare opportunity to bet on [Chiefs quarterback] Patrick Mahomes at such generous spreads and odds proved to drive significant growth.”  

With the game held in New Orleans, Caesars benefited from its $435 million renovation of Caesars New Orleans and reported its highest-ever number of in-person bets for a single event. Through a multiyear naming rights deal, the company has placed the Caesars name on the New Orleans Superdome.