Nevada sportsbooks achieved a record-breaking $22.13 million win from bettors during the Philadelphia Eagles‘ dominant 40-22 victory against the Kansas City Chiefs in Super Bowl LIX. 

However, the total amount wagered on the game fell short, reaching $151.6 million, down 20.2% from the previous year, when the Super Bowl was hosted at Allegiant Stadium in Las Vegas.

Michael Lawton, senior economic analyst for Nevada’s Gaming Control Board, pointed out that while the overall betting handle didn’t surpass last year’s figures, the 186 sportsbooks’ winnings did. 

“As we had anticipated, this year’s total did not surpass last year’s all-time record,” Lawton explained. 

“Not having the game at Allegiant was a contributing factor in addition to not having a team from neighboring California play in the game like last year,” he added. 

$22.13M Record-Breaking Win for Sportsbooks

Despite the decrease in overall wagers, the state’s sportsbooks hit a new record for their Super Bowl win amount, reporting a $22.13 million profit. 

This is a significant increase over the previous high of $19.7 million, which occurred in 2014 during Super Bowl XLVIII when the Seattle Seahawks defeated the Denver Broncos.

Lawton explained the success recorded by sportsbooks through the Eagles’ victory as an underdog and the ongoing increase in prop betting. 

Mike Palm, vice president of Circa, discussed the disappointing handle figures leading up to the game on VSiN’s “Follow the Money” show, mentioning that several factors, including reduced Las Vegas visitation and declining hotel room rates, had led to lower-than-expected betting activity. 

Palm later confirmed that Circa experienced a 10% drop in handle, although the company still had its second-best result in history, as confirmed by director of operations Jeffrey Benson.

BetMGM Reported the Largest Bets

While the handle was down, the sportsbooks weren’t complaining after the record-breaking win. 

The Eagles’ unexpected triumph hurt many bettors, including those who placed large wagers on the Chiefs, who were aiming for a third consecutive championship. 

Notably, the largest reported bets, $800,000 and $750,000, respectively, were placed at BetMGM on the Eagles to win at +110 on the moneyline. 

Despite these big bets, the public largely favored the Chiefs, who were widely regarded as the favorites.

The game’s total score surpassing the 48.5-point over/under slightly impacted profits, but sportsbooks still saw significant success, particularly with prop bets. 

Popular players who fell short of their prop total, including Patrick Mahomes, Travis Kelce, and Saquon Barkley, also benefited the books. 

However, Palm noted that Eagles quarterback Jalen Hurts winning the MVP, especially after his odds were adjusted, wasn’t a favorable result for the books, as many had bet on him.

Although Nevada has faced increasing competition from other states, it continues to dominate on the biggest betting day of the year. 

However, this year, New Jersey surpassed Nevada’s Super Bowl handle, reporting $25.2 million in winnings on a total handle of $168.7 million, with a hold of 14.9%. 

Other states’ results are underway, with many sportsbooks across the country analyzing their outcomes from the high-profile event.

Last week, analyst firm Eilers & Krejcik considered $1.25 billion a likely target for the betting activity tied to the Super Bowl.