Nevada Sportsbooks Shatter Super Bowl Betting Record
Silver State sportsbooks, the only legal sports betting option in the United States, took in a a record $132.5 million in Super Bowl 50 wagers. That’s a nice a little leap over the previous record, $119 million that was set in 2014. (It’s also only about 1% of the total US handle when you include illegal wagers.)
Of course the record breaking day’s worth of wagers was hardly a surprise to those with a knowledge of Nevada’s regulated sports betting industry. The bookmakers of Nevada have increased their Super Bowl handle just about every time the game’s been played.
Super Bow Sunday has long been a bright spot on the calendar for regulated Nevada sports books. Since 1991, according to ESPN.com, this group has profited about $157 million on Super Bowl Sunday wagers.
So how much of that take stays with the bookmakers? It’s believed that about about 10% of the total handle from Super Bowl Sunday stays with the casino.
This year, the casinos faced an interesting set of circumstances with regards to the 5.5-point underdog Denver Broncos. While early money went with the Carolina Panthers, late money poured in on the Broncos.
That said, the total amount wagered was split just about evenly between the two teams. In fact, at one point just $50,000 was all that separated the amount wagered on each team.
Geoff Freeman, president and CEO of the American Gambling Association saw something more than a record setting day on Sunday, he saw the future of the industry. In an interview with ESPN he said:
The record amount wagered — legally and illegally — on Super Bowl 50 offers further proof that sports betting has become America’s new national pastime. Fans want to be invested in their favorite sports and, one way or another, will find a way to do so. AGA will continue to build support for a modern and rational approach that protects these fans and the integrity of the sports we enjoy.
Don’t be surprised if next year’s Super Bowl brings in an even bigger handle. Stay tuned.