Las Vegas Casinos And Sportsbooks Report Major Revenue For Super Bowl LVI

The Los Angeles Rams emerged victorious over the Cincinnati Bengals in Super Bowl LVI with a final score of 23-20. However, they didn’t exceed the 4.5 point spread. The game’s final score remained below the total of 48.5.

The Rams are only the second team in the past 17 Super Bowls to secure a win without covering the point spread. The Pittsburgh Steelers were the last to do this in 2008, when they triumphed over the Arizona Cardinals.

This became one of the best outcomes Nevada sportsbooks had witnessed in years when the favorite won, but didn’t cover the point spread. The general betting public usually bets on favorites to cover and go over the total.

The Nevada Gaming Control Board announced that a record-breaking $179.8 million was wagered on the Super Bowl. Nevada sportsbooks retained 8.6%, yielding a profit of $15.4 million, marking a 23% increase compared to the previous year’s Super Bowl.

This year, the Super Bowl saw a record amount of betting, surpassing the past 10 years. The only time sportsbooks saw a bigger win was in 2020 when they retained 12.1% of the bets, leading to a profit of $18.77 million.

Chuck Esposito, the sportsbook director for Station Casinos, informed the Las Vegas Review-Journal that this Super Bowl was their most successful ever. Several other sportsbooks such as South Point, Westgate, Caesars, and BetMGM also reported significant winnings.

BetMGM reported a nationwide win totaling seven figures, although uncertainty was evident at the start of the game. Jason Scott, the VP of Trading at BetMGM, stated:

BetMGM initially faced difficulties during the Super Bowl, as Odell Beckham Jr. scored the first touchdown and the results from the first quarter and half were not in their favor. However, the second half proved more favorable for the book. The Rams’ victory in regulation was a fortunate outcome for BetMGM, as an overtime would have been the most unfavorable result in what was the most wagered Super Bowl in history.

The Vegas experience continues to be amazing

There were apprehensions that the repeal of the Professional and Amateur Sports Protection Act (PASPA) in 2018 might negatively impact Las Vegas. However, it’s not as dire as it seems.

According to industry insiders, the dominant belief is that rising tides would benefit all. This appears to be true.

Tourists have once again descended on Las Vegas to view and wager on the Big Game. Most visitors had scheduled their trips months prior, but the lifting of the mask mandate last week by the state and Nevada Gaming Control certainly didn’t discourage them.

Sports bettors have the ability to gamble anywhere in the country, but Las Vegas offers unique experiences and is also home to some of the best sportsbook operators nationwide.

Large crowds flocked back to casino sportsbooks. Numerous Station Casinos sportsbooks were brimming with local patrons. At the Vegas Strip, a colossal queue formed at the Caesars Palace sportsbook to make bets. These enormous lines hark back to the times before Covid-19.

A private viewing party in the style of “ManningCast” was hosted by Caesars Palace with Peyton & Eli Manning as brand ambassadors, exclusive to a select number of VIP guests.

This is how we handle #Halftime at the best pool ever. 🎆🏈#BigGame #StadiumSwim pic.twitter.com/NJgOYaZORb

From Stadium Swim’s Twitter account, dated February 14, 2022.

This year, Circa Resort held its first Super Bowl without any Covid-19 limitations. It was as spectacular as one could have envisioned, with the casino’s sportsbook and bars teeming with people.

The Stadium Swim pool complex was also packed. It provided an experience that other states with legal sports betting may find challenging to duplicate.

Few venues provide an outdoor sportsbook experience on a large screen at a pool complex, complete with halftime and post-game fireworks.

Despite having outdated mobile app registration rules, Las Vegas still provides many of the unique experiences people anticipate.

Super Bowl LVII futures

Just minutes following the conclusion of Super Bowl LVI, futures betting for Super Bowl LVII was initiated by sportsbooks. BetMGM sportsbooks listed the Buffalo Bills and Kansas City Chiefs as +750 favorites to win the upcoming Lombardi Trophy.

The Rams and Bengals are next in line with odds at +1100 and +1200, respectively. The Las Vegas Raiders are at a +5000 chance to win next year’s Super Bowl. See below for the full list of Super Bowl LVII future odds:

Early betting activity at BetMGM indicates that the Bills have attracted 14.2% of the wagers. They also accounted for 18.3% of all money bet on next year’s Big Game. However, these odds are likely to fluctuate once free agency starts and the NFL Draft occurs.