Las Vegas Super Bowl makes sports betting history 2024

las vegas betting news february 2024

Updated February 18, 2024By Chris Boline
las vegas betting news february 2024

With the Kansas City Chiefs narrowly knocking off the San Francisco 49ers in the latest edition of the Super Bowl, Nevada sportsbooks were perhaps the winners of the huge weekend. Per a recent report from CBS, the overall weekend was a resounding success for the NFL and Las Vegas. From the exciting finish that saw the Chiefs rally to defeat the 49ers in overtime to the pageantry that comes with the game being in Las Vegas, Super Bowl LVIII exceeded all expectations. This includes the broadcast becoming the most-watched program in television history. Moreover, with the contest being at Allegiant Stadium and in Vegas for the first time, it only makes sense that betting history was also made. According to the Nevada Gaming Control, Nevada sportsbooks broke the state record for Super Bowl wagering with $185.6 million bet, passing the mark of $179.8 million set in 2022. 

In this report, SBS will be going over what to look for from the latest gaming news coming from Las Vegas and also some more notes and info about Sin City wagering. 

Nevada sportsbooks register a 3.7% win percentage

Per the same article, Nevada sportsbooks won an average of 3.7%, the fourth-lowest win percentage for the books over the past 10 years. The big winners for the public were the overtime prop bet, which came in at 9-1 odds, and the Chiefs, as they closed as 2-point underdogs despite being the defending champions and featuring superstar quarterback Patrick Mahomes. Approximately 71% of the money bet against the spread at sportsbooks was on the Chiefs, per CBS and the Action Network. 

“The wagering on the Super Bowl delivered an all-time record and definitely met our expectations,” NGCB senior economic analyst Micahel Lawton said in the report and via the Las Vegas Review-Journal. “The drivers for this year’s totals included the matchup having a West Coast team from the No. 2 feeder market for Las Vegas, the defending champions, and, of course, the game being played in Las Vegas at Allegiant Stadium.” 

Sportsbooks normally make money on Super Bowl betting

According to one report, sportsbooks making money on the Super Bowl is par for the course, since 1991, there have been only two Super Bowls where the public came out ahead, per one gaming reporter. Las Vegas has become the epicenter of the sports world of late, culminating with hosting Super Bowl LVIII. Over the past calendar year, Vegas hosted a Stanley Cup Final, WNBA Final, Formula 1 race, and various UFC fights. Hosting these events has of course helped gambling revenue in the state of Nevada. Moreover, Nevada had a 21.2% increase in sports betting for the Super Bowl from 2023 – which is another sign the Super Bowl may find its way back to Vegas.

Moreover, according to another report from the Associated Press, the sportsbooks kept $6.8 million as winnings, up from $4.3 million a year ago, the Nevada Gaming Control Board said. The total amount of bets at Nevada’s 182 sportsbooks broke the previous record of $179.8 million from the 2922 Super Bowl between the Los Angeles Rams and the Cincinnati Bengals. The 2023 Super Bowl between the Chiefs and the Philadelphia Eagles brought in $153.1 million worth of bets. Across the country, gaming was also up as well. In New Jersey, the nine Atlantic City casinos, the three horse tracks that take sports, and their online partners handled $141.6 million in bets on the Super Bowl, according to the state Division of Gaming Enforcement – an increase of 30% over last year’s total as noted in the same article. 

This resulted in a win of nearly $8.5 million for the sportsbooks, however it was down from $12.8 million a year ago. Nonetheless, other states with big sports betting markets, including New York and Illinois, had also anticipated to increase as well. Moreover, Maine, which offered Super Bowl gambling for the first time, saw about $3.5 million wagered online, according to an estimate from the state’s Gambling Control Unit. Simplebet, the micro-betting site popular with gamblers who want to be on isolated moments within a game, said it saw a double-digit increase in the number of bets on the Super Bowl (1 million, up 33%), and the total amount wagered ($17 million, up 29%). Finally, BetMGM said it took 30% more bets on this year’s Super Bowl than on last year’s although it did not reveal the actual number. Of course, there were other states with increases, but like Vegas, gaming was up across the board. 

Even more thoughts and info on Las Vegas wagering

After you are all dialed in regarding the latest gaming news and notes coming from Las Vegas, make sure to also tap into the wide variety of info available to you at SBS. Of course, for even more info on the topic at hand, the online Vegas sportsbooks rundown is a fantastic resource to learn about the latest gaming news coming from the Silver State and more. Also, with the “Big Game” in the rearview mirror, you can still check out the best Super Bowl betting sites in preparation for the next NFL season. Finally, if you are looking to maximize your wagers, then look no further than the best bonus betting sites breakdown. On this page, you can find a catalog of the latest and greatest welcome bonus offers and learn about different ways you can use it to your advantage. 

About the Author

Chris Boline

Chris Boline

As a devout aficionado of sports, Chris Boline has carved a career within the athletic realm. A skilled scribe, he boasts a decade-long portfolio that encompasses coverage of the NBA G League, the Los Angeles Chargers, football in the Mountain West Conference, and basketball.
Beyond his professional pursuits, Chris is deeply invested in his community and dedicates his leisure hours to serving on boards, collaborating with community organizations, and cherishing the company of loved ones.

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