Super Bowl betting hit a new high as Super Bowl 58, held in Las Vegas, generated a record $185.6M in wagers. According to data from the Gaming Control Board, eclipsing the previous record of $179.8 million bets taken during the 2022 game.
Impressive Betting Numbers
As 2-point underdogs at Allegiant Stadium, the Kansas City Chiefs pulled an upset over the San Francisco 49ers. With a 25-22 victory in overtime, taking their second straight Super Bowl title and fifth in half a decade.
Nevada’s 182 sportsbooks wound up winning $6.8 million on the game for a 3.7 percent hold. The fourth-lowest win percentage in the past 10 years. The betting public backed the Chiefs, which helped contribute to their mammoth victory. Also the overtime prop at 9-1 odds, something that has happened just once before in Super Bowl history.
Reasons for the Record Super Bowl Betting Handle
“The Super Bowl betting surpassed an all-time record and most definitely exceeded expectations.” Michael Lawton, NGCB senior economic analyst said, according to the publication. “The reasons behind this year’s totals included the matchup featuring a West Coast team from the No. 2 feeder market for Las Vegas. As the defending champions and the fact that the game was played in Las Vegas at Allegiant Stadium, of course.”
Handle this year was $32.4 million more than the previous record, and up a significant 21.2 percent from last year’s handle of $153.2 million. Legal sports on NFL betting landscape throughout the country. Sportsbooks in Nevada continue to print money, with bettors losing $6.8 million on the game. There were five $1 million or more bets in Nevada, including two winning wagers on the Chiefs and three losing bets on the 49ers.
“With the way that the early bets were coming in, and we were already starting to see six-figure bets two weeks out. I really felt it was going to break the record. There just had a different feel with the game being here from the crowds and the atmosphere in every one of our books.” Red Rock Resort sportsbook director Chuck Esposito was quoted as saying in the report. “It goes in conjunction with what we see with Knights. NFL betting and Aces games, NASCAR and Formula One, all of it, prize fights, UFC. When they’re here, the handle on any of those events is always at the top.
Strategies to Optimize Bookies
Gambling frenzy surrounding the Super Bowl betting highlights just how much opportunity exists for bookies in the world of major sports. For bookies with the proper infrastructure and approaches, such occasions can be used for optimum profits. During peak times, such as the Super Bowl or World Cup. Online sports on NFL betting sites can experience heavy traffic, so investing in technology that can handle the demand is key.
Also, bookies must concentrate on giving punters good odds & best promotions. Sports betting is a dynamic and fast-paced industry. Bookies who can adapt to changing circumstances will certainly have an advantage over their competitors.
Money-making Opportunities in the Sports Betting Business
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