Nevada sportsbooks make small profit on Super Bowl Betting
Nevada sportsbooks had their smallest profit on Super Bowl betting in a decade as the public won on the point spread and over/under total.
With the majority of public bets on the Green Bay Packers to cover the spread as a 3-point favorite against the Pittsburgh Steelers, and on the score to go over the total of 45, Nevada books profited just $724,176 on Super Bowl XLV wagers, according to numbers released by the Nevada Gaming Control Board this week. That’s after more than $87 million was wagered on the big game, the most since 2008.
Both the Las Vegas Hilton and MGM Mirage sportsbooks said they took a loss on the Super Bowl. Jay Rood, sportsbook manager at the Mirage, told Covers.com that Green Bay’s 31-25 win over Pittsburgh was the “the worst Super Bowl loss he’d seen in 25 years.” But not all books took a loss.
“It was a great result for us,” said Chuck Esposito, sportsbook manager of the Venetian and Palazzo. “We took in balanced action on both sides, which is exactly what you’re looking for with so much action coming in.”
The $700K profit was the smallest win for the sportsbooks in at least 10 years. Nevada sportsbooks made a combined profit of more than $6 million in each of the previous two Super Bowls. It was the third straight win for the books and 12th in the last 13 Super Bowls.
The last time bettors got the better of the books was the New York Giants’ upset of the New England Patriots in 2008. That game cost the books $2,573,103, their largest loss ever. Since 2002, Nevada sportsbooks are up approximately $70 million on the Super Bowl.
Leave a Reply
You must be logged in to post a comment.