Nevada bookies made $153.2M from Super Bowl wagers

Nevada sportsbooks made $153.2 million in bets on Sunday’s Super Bowl, which was far lower than final yr’s file.

However, there’s nonetheless hope as a result of subsequent yr’s NFL championship recreation will probably be held in Las Vegas.

Fewer bets in comparison with final yr:

On Monday, the Gaming Control Board stated that “wagers placed on the Kansas City Chiefs’ 38-35 win over the Philadelphia Eagles in Super Bowl LVII were the fourth highest of all time, although $26.6 million below the $179.8 million bet a year ago.”

But when analyzing projections for subsequent yr’s Super Bowl that will probably be held at Allegiant Stadium subsequent February, analysts are assured {that a} contemporary customary will probably be set for NFL championship betting in Nevada.

In this regard, Eilers & Krejcik Gaming marketing consultant Chris Grove stated: “Nevada’s sportsbooks could see $200 million in wagers on the game in 2024.”

But this yr, Nevada sportsbooks took in 7.4 p.c of all bets from in-play betting, which means they ended up accumulating $11.3 million, the bottom complete since 2019, when sportsbooks earned almost $10.8 billion in Super Bowl wagers.

Commenting on the explanations for the bottom income for Nevada sportsbooks, Michael Lawton, management board senior financial, stated: “Many sportsbook operators expected Nevada would lose some betting action to Arizona, the first state with legal sports betting to host a Super Bowl with legal sports betting.”

“But, sportsbooks took in at least one seven-figure wager and several six-figure wagers on Sunday’s game.”

He additionally stated that “football wagering was down 6.9 percent in the last four months of 2022, compared with 2021.”

Biggest Super Bowl revenue for Nevada sportsbooks:

Looking again on the yr when Nevada sportsbooks made probably the most Super Bowl earnings, it might positively be 2020, with almost $18.8 million in on line casino income after the Chiefs gained towards San Francisco, 31-20.

But going again to this yr, sportsbooks did fairly effectively with $46.7 million in income and $8.7 billion in bets.

Nevada sportsbooks accepted extra Super Bowl bets in comparison with different US states:

Although income was on the decrease aspect in comparison with the earlier yr, the $153.2 million complete was precisely what analysts at Eilers & Krejcik had forecast final week, simply earlier than the sport.

They stated: “Nevada operators would accept more Super Bowl wagers than any of the other 32 states where sports betting is legal.”

Legitimate sports wagering is now identified to have surpassed the $1 billion mark throughout the US for the primary time, however figures for different US states and Washington D.C. are anticipated to come back within the subsequent a number of weeks.

In this regard, Geocomply stated on Monday: “More than 100 million geolocation checks were processed Saturday and Sunday on mobile sports betting apps.”

Gocomply verifies transactions for its clients, which happen at completely different phases of consumer registration and wagering with authentic regulated on-line bookmakers.

They added: “The figure was a 25 percent increase from last year’s Super Bowl weekend. New York had the highest percentage of any state, with 13.9 million geolocation checks.”

In a press release printed by the CEO of GeoComply, Anna Sainsbury, it was acknowledged that “more than 100,000 check-ins were verified from around State Farm Stadium in Glendale, Arizona, where the game was played. Super Bowl LVII was a record-breaking event and the data shows Americans’ interest in legally betting on the Super Bowl has never been higher.”

Chad Beynon, gaming analyst at Masquarie Securities, stated to traders on Monday that “new sports betting states and the continued mainstream adoption of sports betting probably pushed Super Bowl wagering from $1 billion to $1.5 billion nationally.”