The Kansas City Chiefs’ 25-22 Super Bowl victory over the San Francisco 49ers in Las Vegas drew record television ratings and also resonated in a major way with bettors. That included record numbers wagered across the country.
Online gaming geolocation provider and fraud prevention firm Geocomply released some figures related to sports betting across the country. The company tracks wagering activity in 28 regulated states as well as Washington, D.C. and Puerto Rico, and noted a 22% increase in geolocation checks throughout Super Bowl weekend. The firm also noted 8.5 million active accounts in these states and territories, up 15% from the 2023 Super Bowl.
“The continued transition to the legal market set the stage for a historic first Super Bowl in Las Vegas and the record-breaking results we saw did not disappoint,” GeoComply co-founder and CEO Anna Sainsbury said. “We are proud to help foster the growth of a regulated industry that puts accountability, security, and player protection at the forefront.”
Inside the Numbers
The increased betting activity tracks with earlier predictions from the American Gaming Association (AGA) and other groups. Geocomply noted that many bettors appeared to wait right up until game time to wager.
Just before kickoff, the company recorded a record 15,000 transactions per second, which was twice that seen in 2023. In total, Geocomply processed 122 million location checks and also noted several other statistics related to the Super Bowl including:
- In the two weeks before the game, legal operators saw 1.8 million new users.
- Since the beginning of the 2023-24 NFL season, operators have seen 13.7 million new accounts, a 28% increase from last season.
Las Vegas hosting a Super Bowl may have also been a boon for Nevada sports betting. The Nevada Gaming Control Board (NGCB) reported a record $185.6 million was bet at 182 sportsbooks in the state, up from $179.8 million in 2022.
“The Nevada Gaming Control Board congratulates and thanks all the stakeholders involved for successfully delivering such a spectacular event from the state of Nevada,” NGCB chairman Kirk Hendrick said.
The game, which featured only the second overtime finish in Super Bowl history, also delivered on the television front with the highest ratings ever. The game averaged 123.4 million viewers across CBS, Nickelodeon, Univision, and streaming platforms, a 7% increase of last year’s 115.1 million when the Chiefs topped the Philadelphia Eagles. A record 202.4 million watched some portion of the game, a 10% surge over last year’s 183.6 million.
Casinos, Sportsbook Suffer Losses
The game may have been good for broadcasters and bettors, but sportsbooks and casinos didn’t fare so well when the game was over. Going to overtime led to some hefty losses for many properties. The prospect of overtime was a popular bet for many gamblers and came in at odds of 9-1 to 11-1 at many books.
Caesars Sportsbook Vice President of trading Craig Mucklow told PBS that the company lost seven figures on the overtime wager, with an average bet of $16. Overtime also helped the Chiefs come out on top, covering the spread and also producing a win for over bettors, with an over/under set at 47.5. The total score saw significant bets on the over.
With lopsided action placed on the Chiefs, the game was a bit of a perfect storm to hand many sportsbooks some considerable losses.
“The Chiefs force OT and then win … there is nothing that could’ve been worse,”Las Vegas Westgate SuperBook executive director John Murray told ESPN.
The Nevada numbers may show record betting, but also point to the tough loss faced by casinos and sportsbooks. The state’s casinos saw just a 3.7% hold percentage, registering only $6.8 million going to the house. The Super Bowl has seen only three lower win rates for casinos since 2015.
Big Bets Pour In
Each edition of the SUper Bowl of the last few years has seen some major bets make headlines as the game approaches. This year’s game saw some big players drop some major cash again.
In the days before the game, four $1 million wagers rolled in. Circa Sports reported a $1 million bet on the Chiefs at +2 to win $900,090. PointsBet saw $1 million put on the 49ers at+2 to win $900,090.
BetMGM Sportsbook saw a $1 million wager on the 49ers moneyline at -130 to win $769,230. Poker pro Sean Perry has been known for some major bets in recent years and put $1.1 million on the 49ers.
As the end of the regular season approached, Perry made some news after refusing a deal among other players who ran deep in the $9.2 million Circa Survivor contest. He ultimately then exited the contest after registering a losing pick.
