Nevada Posts Lowest Super Bowl Betting Total Of The Past Five Years
The Super Bowl LV wasn’t the most entertaining to watch, with Tampa Bay Buccaneers beating Kansas City Chiefs 31-9. However, this didn’t deter Nevada sports bettors from participating in the action.
The Nevada Gaming Control Board (NGCB) reported that the 184 sportsbooks in Nevada received $136.1 million in bets on Super Bowl 55. This was the smallest amount of money wagered on the Super Bowl in Nevada since 2016, when the sportsbooks collected $132.5 million in bets on the 50th Super Bowl.
Sportsbooks in Nevada pocketed 9.2% of Super Bowl bets, totaling $12.57 million. The dip in betting outlay didn’t come as a shock. Earlier, the Nevada Gaming Control had sent out notifications to casinos, reminding them of a 25% capacity limit that they were obliged to comply with, stating that properties would be under surveillance for adherence.
Said Michael Lawton, the senior research analyst for the NGCB:
The Super Bowl handle in Nevada is influenced by visitation. Las Vegas and other areas throughout the state serve as destination markets where customers can come and bet on the game.
Taking into account the challenges faced by Nevada sportsbooks, these numbers rank as the fifth-highest ever recorded for Super Bowl betting volumes since Nevada started keeping track in 1991. The Board is extremely satisfied with these outcomes.
The Nevada Gaming Control Board (NGCB) is extremely satisfied with the outcomes, and rightly so. The Las Vegas Convention and Visitors Authority reported a drop of over 55% in Las Vegas visitation in 2020. This decline in tourism underscored the robustness of the residential gambling market across Nevada.
Super Bowl betting not so bad for sportsbooks
Although a decrease in the amount of money betted isn’t favorable, the news isn’t terrible when compared to the Super Bowls of the past decade. As per the NGCB, Nevada sportsbooks have earned more money than four of the previous five Super Bowls.
- 2021: $12,574,125
- 2020: $18,774,148
- 2019: $10,780,319
- 2018: $1,170,432
- 2017: $10,937,826
Indeed, only in three out of the last 10 Super Bowls have Nevada sportsbooks made more money. The 2021 Super Bowl win percentage for Nevada sportsbooks also stands at the same rank – fourth in the past 10 Super Bowls.
Despite a decrease in money wagered due to capacity restrictions and a reduced number of tourists, Nevada sportsbooks still experienced comparable wins to those of recent Super Bowls.
Nevada still the reigning champs in Super Bowl betting…for now
Thus far, Nevada has seen the highest amount of betting on Super Bowl LV compared to any other state. However, this is unlikely to remain the same in the future.
The legalization of sports betting in more states is resulting in an increase in individuals placing bets on games. According to GeoComply, a company specializing in online sports betting data, there was a threefold increase in online wagers placed in the US over the Super Bowl weekend this year, compared to the previous year.
The Super Bowl revenue in New Jersey is catching up to Nevada at a rapid pace. The betting amount on Super Bowl LV in New Jersey reached $117.4 million, more than double the amount in 2020. As the market matures, this figure is expected to continue increasing.
Legal Sports Report cites GeoComply data revealing Pennsylvania as the state with the highest number of online sports wagering transactions. The total sum wagered in the Keystone State was $54 million.
Sports betting is beginning to take off in populous states such as Michigan and Illinois. The legalization of sports betting in these states has simplified online and mobile device betting. As this trend continues to spread to other states, expect areas with high populations to surpass Nevada’s betting handle for future Super Bowls.
Super Bowl LVI odds already posted
As we bid farewell to Super Bowl LV, we welcome Super Bowl LVI. The upcoming Super Bowl is slated for Feb. 6, 2022, to be held in Inglewood, California, marking the end of one chapter and the beginning of another.
Although the Chiefs lost the Big Game this year, they are currently the top 5-1 favorite to win Super Bowl 56, according to William Hill sportsbooks. Following closely are the Green Bay Packers with +850 odds, making them the second favorite. Meanwhile, the Buccaneers, Buffalo Bills, and Los Angeles Rams are all tied for the third spot with 10-1 odds.
Since the initial release of Super Bowl odds, one change has occurred. The Rams’ odds have shifted from 18-1 to 10-1 following their trade for Matthew Stafford, the Detroit Lions’ quarterback.
The Super Bowl LVI odds for the Las Vegas Raiders are at 40-1, placing them in the middle of the league. Their odds to win the AFC Championship and advance to next year’s Super Bowl are at 18-1.
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