The Big Game brought big business to Nevada.
With Las Vegas hosting the Super Bowl for the first time, the Silver State set a new record for handle, taking in $185.6 million in wagers on the NFL’s premier event, the Nevada Gaming Control Board announced Monday.
This year’s Super Bowl handle rose 21.1% from 2023 and is 3.2% higher than the previous record of $179.8 million set in 2022.
“The Nevada Gaming Control Board congratulates and thanks all stakeholders involved for successfully delivering such a spectacular event from the state of Nevada,” NBCG chair Kirk Hendrick said.
NGCB Releases Figures Showing Record-Breaking $185.6 Million Wagered on Super Bowl in Nevada. pic.twitter.com/6QVxJhs4Cx
— Nevada Gaming Control Board (@NevadaGCB) February 13, 2024
Nevada’s 182 sportsbooks raked in $6.8 million in revenue, which was better than last year. Silver State operators made just $4.4 million in 2023, 54.5% less than this year.
However, Super Bowl LVIII’s revenue was down 38.7% from 2022.
Single-digit hold streak continues
The 3.7% hold for 2024 marked the fourth lowest in the last 10 years. It was the second consecutive win rate under 4% and third straight under 7%.
The Super Bowl has produced just two double-digit holds since 2015. The 2016 Big Game produced a win rate of 10.1% while 2020 generated a hefty 12.1%, which allowed Nevada sportsbooks to profit over $18.7 million.
Worst-case scenario
It could’ve been a much more profitable Super Bowl for Nevada operators had the game not gone the bettors’ way for the most part.
The Kansas City Chiefs won 25-22 in overtime, beating the San Francisco 49ers outright as a +2 underdog and winning the Super Bowl for the second consecutive season. The public loves backing Chiefs quarterback Patrick Mahomes.
Many of the popular player props hit for bettors as well, and the total landed right on a number that was offered throughout the two-week Super Bowl lead-up, with it going half a point both ways at times.
"The Chiefs force OT and then win ... there is nothing that could've been worse," John Murray, executive director of the SuperBook in Las Vegas, told ESPN.
Record falling
Nevada isn’t the only one setting new marks.
Online sports betting site FanDuel brought in a record handle of $307 million on the Super Bowl, taking in 14 million bets from 2.2 million users.
Geolocation tracking company GeoComply recorded 22.3% more traffic on this year’s Big Game compared to 2023.
More Super Bowl sports betting records are expected to fall in the U.S. as numbers continue to be tallied from regulated states and operators.
