The first Super Bowl held in Las Vegas was a massive success, with the Kansas City Chiefs winning overtime against the San Francisco 49ers. The game’s excitement and pageantry lived up to the hype, and CBS Sports’ broadcast became the most-watched program in television history. Additionally, betting history was made at Nevada sportsbooks, which broke the state record for Super Bowl wagering with $185.6 million bet on the game, surpassing the previous record of $179.8 million set in 2023.
Nevada sportsbooks won an average of 3.7%, making it the fourth-lowest win percentage for books over the past decade. Overtime prop bets were a big winner for the public, coming in at 9-1 odds. Despite being defending champions and having Patrick Mahomes on their team, the Chiefs were only favored to win by 2 points, making them an attractive underdog choice for many bettors. Approximately 71% of all money bet against the spread at sportsbooks was on the Chiefs, according to Action Network.
Sportsbooks making money on Super Bowl games is nothing new; since 1991, there have been only two Super Bowls where public came out ahead of bookmakers. Las Vegas has become a hub for sports events in recent years, hosting everything from Stanley Cup Finals to UFC fights and WNBA championships in addition to Super Bowl LVIII. These events have contributed significantly to gambling revenue in Nevada. With its growing popularity as a destination for major sporting events, it’s likely that we’ll see more Super Bowls returning to Vegas in the future.