Super Bowl betting in Nevada drops nearly 15%

Finance News

The Gaming Control Board said Tuesday that wagers placed on the Kansas City Chiefs’ 38-35 win over the Philadelphia Eagles in Super Bowl LVII were the fourth highest of all time, although $26.6 million below the $179.8 million bet a year ago.

With Super Bowl LVIII headed to Allegiant Stadium next February, analysts believe a new standard for NFL championship betting in Nevada will be set. Eilers & Krejcik Gaming consultant Chris Grove said Nevada’s sportsbooks could see $200 million in wagers on the game in 2024.

As for this year, Nevada sportsbooks held 7.4 percent of all wagers from betting on the game, collecting $11.3 million, the lowest total since 2019, when operators won almost $10.8 billion.

The highest Super Bowl revenue total for Nevada sportsbooks came in 2020 with almost $18.8 million kept by casinos after the Chiefs beat San Francisco, 31-20.

Control board senior economic analyst Michael Lawton said many sportsbook operators expected Nevada would lose some betting action to Arizona, the first state with legal sports betting to host a Super Bowl with legal sports betting.