Super Bowl Betting Handle Recedes In Nevada

Patrick Everson Sports Betting Expert

6 minute read

Super Bowl betting for the Kansas City Chiefs vs. Philadelphia Eagles showdown will surely set a national record, since there are now 33 legal betting jurisdictions across America. But state-by-state, there will certainly be some variance as postgame numbers roll out.

Nevada, which just five years ago was the only legal, regulated sports betting market, was the first to post its total Super Bowl handle. On Monday, one day after the Chiefs' 38-35 victory, the state announced total betting on Super Bowl 57 was down significantly from Super Bowl 56.

Still, it was a reasonable haul. State gaming officials and oddsmakers provided their thoughts on Super Bowl 57 betting results.

Super Bowl Betting

By The Numbers

Total statewide Super Bowl handle across Nevada came in at $153.2 million. That represented a substantial drop-off from the state record of $179.8 million set last year in the Los Angeles Rams' 23-20 victory over the Cincinnati Bengals.

Handle was down 14%, but it's worth noting that last year's haul was a $21 million jump from the Silver State's previous best Super Bowl. That was in 2018, when bettors plunked down a total of $158.6 million on the Eagles' 41-33 win over the New England Patriots. So the 2023 total still stands as more than respectable in an ever-expanding competitive market.

"The results were off compared to last year’s all-time record," said Mike Lawton, senior economic analyst for the Nevada Gaming Control Board. "However, this year’s total was the fourth-highest total in state history. Obviously, the technical issues experienced by one of our operators impacted totals this year, in addition to the Super Bowl being played in Arizona, which recently legalized sports wagering."

Indeed, with the game played in the now sports betting-friendly Arizona, Nevada numbers were all but certain to take a hit. And the tech issues definitely led to at least slightly lower handle, particularly for in-game betting. Caesars Sports/William Hill US, one of the largest operators in Nevada and nationally, saw its Nevada mobile app go down around kickoff. The app still wasn't functioning Monday night.

Nevada books had a fairly slim win, as well, retaining just $5.45 million, a hold of just 3.6%. That's the third-lowest hold percentage of the past 10 years. Further, the 2023 sportsbook win represents a substantial revision. On Monday, the state reported an unaudited win of $11.3 million (7.4%). But after further review realized that number was significantly off and issued a news release with the correct win for the sportsbooks.

Updated on 07/26/2024

BetMGM Exclusive Offer: Get a 20% Deposit Match up to $1,600 in Sports Bonus!

Bonus Code VIBONUS1600 Claim Now

Must be 21+. Gambling problem? Call or text 1-800-GAMBLER

Contributing Factors

It wasn't just nationwide competition and tech issues that led to a fallback for Nevada. With Super Bowls, action is often heaviest with the favorite on the spread and with the underdog on the moneyline.

That was certainly the case in Super Bowl 56, when the Rams were 4.5-point favorites against the Bengals. However, with a short spread in Super Bowl 57 – it closed Eagles -1.5 in most spots – the underdog moneyline wasn't nearly as attractive.

"The number hovering around pick or so for two weeks may have impacted handle somewhat," Station Sports' Chuck Esposito said. "Usually, you have a little more moneyline value on the 'dog."

Esposito said it was a winning day for Station, though not the best-case scenario of a Chiefs win and Under. The high-scoring affair, which finished with 73 total points for a game with a consensus 51.5 closing total, proved beneficial to the customers.

"Prop handle was strong. However, anytime you have a high-scoring Super Bowl, we usually don't do as well to the props," Esposito said. "Plus, we saw a defensive/special teams score and a successful 2-point conversion."

Those two props are among several the public likes to hammer every year. Bettors cashed in on the Chiefs' first-half defensive score and late-game 2-point conversion run by Eagles QB Jalen Hurts.

South Point sportsbook director Chris Andrews echoed the state's results in noting a decline at his shop.

"The handle was down slightly from last year," Andrews said. "We'll [almost] never match the state hold, since we use -105 on the point spread and a dime line on the moneyline."

All's Well That Ends Well

Jay Kornegay, who oversees The SuperBook as Westgate's vice president of race and sports, noted his book got a modest win on Super Bowl Sunday. It was short of the statewide hold percentage, but considering the game was a track meet, he's taking it.

"If you would have told me before the game that 73 points would be scored, that would have been instant heartburn," Kornegay said. "We were fortunate with the Chiefs, but the total was a big loser for us. Props underperformed but were OK. The revised statewide hold percentage is lower than we anticipated, but seems like an accurate number."

Now, Nevada braces for what most anticipate will be an absolutely monster Super Bowl 58. The game will be held at Allegiant Stadium, in the shadow of the Las Vegas Strip. So that 2022 state record of nearly $180 million could well be in jeopardy, even with the continued nationwide expansion of sports betting.

"It's tough not to see a record next year," Kornegay said. "I could imagine we'll be in the $220 million range."

Across the Country

Super Bowl-specific numbers are not made available in every state. However, like Nevda, Pennsylvania does break out its Super Bowl handle and hold. As you might expect, with a huge regional bias toward the Eagles, Keystone State sportsbooks made bank on Sunday.

Statewide handle was $84.3 million, up 24% from the $68 million wagered on the Rams-Bengals Super Bowl 56 matchup. Pennsylvania sportsbooks won a whopping $29.7 million, for a massive hold percentage of 35.2%.

In neighboring New York, the numbers weren't nearly that rosy, according to Chris Altruda of SportsHandle, a sister site to VegasInsider. The Empire State saw total Super Bowl betting of $123.8 million, and the books won $6.97 million, for a hold percentage of 5.6.

And while New York remains the king of overall sports betting handle, Nevada remains the king of big-event betting. As noted above, Nevada sportsbooks – even while down 14% from last year – saw $153.2 million in Super Bowl wagers, $29.4 million more than population-rich New York.

Where to place a bet this NFL Season?

• Use our exclusive BetMGM Bonus Code VIBONUS1500 to unlock BetMGM’s welcome offer for new sportsbook users!
• Compare the latest NFL Odds from the best sportsbooks before placing a bet on this week's games.
• Check out the North Carolina Sportsbooks just before they launch legal online sports betting.

Patrick Everson

Patrick Everson is a senior reporter for VegasInsider. Based in Las Vegas since 1994, he's worked in the sports betting journalism/content space for more than a decade. He's most known for his deep roster of contacts behind sportsbook counters, providing readers and viewers with the ins-and-outs of how events are being bet. He's also a thought leader in the sports betting space, often appearing on or moderating panels at national conferences. More from Patrick Everson