Sports Fans Smash Superbowl Betting Records
This year saw sports fans bet a record $119.4 million on the Superbowl at Nevada casinos. It was also a great year for bookies with profits of $19.7 million, more than the last three years combined, according to Nevada’s Gaming Control Board.
The Denver Broncos were favorites to win, however, in a surprise result the Seattle Seahawks won 43-8. Which meant that the bookmakers benefited from a belief amongst fans that Peyton Manning, the veteran quarterback who was named the NFL’s Most Valuable Player in 2013, and his team would claim victory.
However, it wasn’t all good news for the bookmakers, some lost out on proposition bets, including whether a safety would be the first score of the game. A number of casinos paid out 8-1 for the safety and fans that bet on the first score being a safety cashed in at 60-1.
Nonetheless, casinos retained an average of 16.5% of the money bet, far more than the average over the last decade. In the last two decades Nevada sportsbooks have only lost twice on the Superbowl, most recently in 2008 when the New York Giants beat the New England Patriots which cost the casinos a record $2.6 million.