Nevada Oddsmakers Win Again to Continue Super Bowl Streak

Nevada Oddsmakers Win Again to Continue Super Bowl Streak

Nevada came out on top after the Super Bowl, but only by a slim margin. The Nevada Gaming Control Board (NGCB) reported that $185.6 million was wagered on the Super Bowl. The big game featured the Kansas City Chiefs and the San Francisco 49ers. The handle set a new record. It beat the old record by almost $6 million. The old record was set in 2022 and was $179.8 million. That year the Los Angeles Rams played the Cincinnati Bengals. Nevada oddsmakers kept just $6.8 million of the $185.6 million. That translates to a win (hold) rate of just 3.7%. For comparison, sportsbooks reported a hold rate of nearly 6% on all sports for the 12 months ending December 2023.

Along with record betting in Nevada, Super Bowl LVIII led to record TV ratings. Nielson reported that Sunday’s game was the most watched program in television history. The game averaged 123.4 million viewers. The previous high was 115.1 million viewers. That record was set last year when the Kansas City Chiefs played the Philadelphia Eagles. CBS broadcast the Super Bowl. Nickelodeon and Univision offered alternative broadcasts. The big game was streamed on Paramount+ and the NFL’s digital platforms.

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Author: Raymond Taylor