Nevada Breaks Super Bowl Betting Record with $185.6m Wagered
The Nevada Gaming Control Board (NGCB) announced that the state’s sportsbooks handled a record-breaking $185.6m in wagers for the 2022 Super Bowl. This figure surpassed the previous year’s record of $179.8m. The NGCB’s Senior Economic Analyst, Michael Lawton, revealed that the sportsbooks’ earnings resulted in a hold of $6.8m, with a win percentage of 3.7%.
The thrilling game saw the Kansas City Chiefs triumph over the San Francisco 49ers with a 25-22 win in overtime at the Allegiant Stadium in Las Vegas. NGCB Chairman Kirk Hendrick expressed his congratulations to all involved in delivering an exceptional event for the state.
Despite going into the game as underdogs, the Chiefs, led by quarterback Patrick Mahomes, secured their third Super Bowl victory in five years, claiming their second Vince Lombardi trophy in a row. Westgate SuperBook Vice President Jay Kornegay attributed the record-breaking handle to Las Vegas hosting the Super Bowl for the first time.
Lawton stated that the high betting activity met the NGCB’s expectations, and he attributed it to various factors, including the location of the game, the participation of the defending champions, and the presence of a West Coast team, which is a key feeder market for Las Vegas.
The sportsbooks’ win percentage of 3.7% was the fourth-lowest in the past decade. Despite this, bettors backing the Chiefs won big on the overtime prop, with Mahomes’ side offering +900 odds. However, some, like high-stakes poker player Sean Perry, were not as fortunate.
Red Rock Resort Sportsbook Director Chuck Esposito expressed his confidence in the event smashing the betting record, noting that his firm had seen significant wagers placed two weeks prior to the game. He also highlighted the unique atmosphere and excitement surrounding the game being held in Las Vegas.
Esposito emphasized that the record-breaking handle for the Super Bowl aligns with the high betting activity seen in other major events in Las Vegas, such as games featuring the Las Vegas Raiders, Las Vegas Golden Knights, Las Vegas Aces, as well as notable prize fights and UFC bouts.
Overall, the unprecedented betting activity on the Super Bowl in Nevada demonstrates the significant impact of major sporting events on the state’s gaming industry.