Sports
Nevada Sportsbooks Hit $22.1M Super Bowl Profit Record Despite Lower Betting Action
Nevada sportsbooks reported a record-breaking $22.1 million in revenue from Super Bowl LIX, despite total wagers falling to $151.6 million — a $38 million decline from last year. According to Michael Lawton, senior economic analyst for the Nevada Gaming Control Board, analysts attribute the drop to the absence of a California team and the game not being hosted at Allegiant Stadium. "As we had anticipated, this year's total did not surpass last year's all-time record," Lawton told ESPN. However, sportsbooks outperformed their revenue record of $19.6 million in 2014 during the Seattle Seahawks' Super Bowl win over the Denver Broncos. Before the game, the Kansas City Chiefs were 1.5-point favorites, with a total points line of 48. However, the Philadelphia Eagles stunned bettors with a 40-22 victory, leading to significant losses for those who backed the Chiefs. Joey Feazel of Caesars Sportsbook noted that most bets favored Kansas City, leading to losses, especially on wagers predicting Eagles running back Saquon Barkley would not score a touchdown. Halftime betting spiked as the Eagles led 24-0, with many expecting a Chiefs comeback, according to Craig Mucklow of Caesars. BetMGM's Christian Cipollini also observed fewer successful proposition bets and parlays, increasing sportsbook profits. Caesars New Orleans saw its highest-ever in-person Super Bowl bets, bolstered by the company's $435 million investment in its New Orleans resort and Superdome naming rights. While last year's Super Bowl, which was hosted in Las Vegas, set a record $190 million in total bets, this year's event underscored how betting trends, unexpected outcomes, and strategic sportsbook positioning continue to shape Nevada's gambling landscape.