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

The Los Angeles Rams defeated the Cincinnati Bengals to win Super Bowl LVI 23-20. While the Rams won the game the team didn’t cover the 4.5 point spread. The final score of the game stayed under the total of 48.5.

The Rams are just the second team in the last 17 Super Bowls to win and not cover the point spread. The last time this occurred was when the Pittsburgh Steelers defeated the Arizona Cardinals in 2008.

The result of the favorite winning but not covering the point spread made this one of the best Nevada sportsbooks have seen in years. The general betting public tends to bet on favorites to cover and over the total.

The Nevada Gaming Control Board reports that a record $179.8 million was gambled on the Super Bowl. Nevada sportsbooks held 8.6% for a win of $15.4 million. This is a 23% increase from the Super Bowl last year.

More money was gambled on the Super Bowl this year than any of the past 10. The only Super Bowl that sportsbooks won more was in 2020 when they held 12.1% of bets. This was good for a win of $18.77 million.

Station Casinos sportsbook director Chuck Esposito told the Las Vegas Review-Journal that this “was our best Super Bowl ever.” Numerous other sportsbooks including South Point, Westgate, Caesars, and BetMGM also reported winning big.

While BetMGM reported a seven-figure win nationwide, there was some doubt that would be the case early in the game. Jason Scott, VP of Trading, BetMGM said:

“BetMGM had a challenging start to the Super Bowl with Odell Beckham Jr. scoring the first touchdown and unfavorable results in the first quarter and first half. That said, the second half went the book’s way. We dodged a bullet with the Rams winning in regulation as overtime would have been the worst possible result in what was the most bet on Super Bowl ever.”

The Vegas experience continues to be amazing

There were some concerns that Las Vegas would take a hit when the Professional and Amateur Sports Protection Act (PASPA) was repealed in 2018. Not so fast, my friend.

The prevailing thought among industry insiders is that rising tides would lift all boats. That seems to be the case.

Tourists once again flocked to Las Vegas to watch and bet on the Big Game. While most visitors planned their trips months in advance, the state and Nevada Gaming Control removing the mask mandate last week didn’t hurt.

While sports bettors can gamble throughout the country, Las Vegas is offering unique experiences in addition to being home to some of the best sportsbook operators in the country.

The massive crowds returned to casino sportsbooks. Various Station Casinos sportsbooks were packed with locals. On the Vegas Strip, the sportsbook at Caesars Palace had a massive line to place bets. The huge lines are reminiscent of pre-Covid-19 days.

Caesars Palace hosted a “ManningCast” style private viewing party with brand ambassadors Peyton & Eli Manning for a limited number of VIP guests.

And that’s how we do #Halftime at the best pool in history. 🎆🏈#BigGame #StadiumSwim pic.twitter.com/NJgOYaZORb

— Stadium Swim (@stadiumswim) February 14, 2022

Circa Resort hosted its first Super Bowl without Covid-19 restrictions this year. It was everything anyone could have imagined. The sportsbook and bars inside the casino were packed.

The Stadium Swim pool complex was also full. It offered an experience that won’t be easy for other states with legal sports betting to replicate.

There aren’t many venues that offer the big screen sportsbook experience outside at a pool complex with fireworks at halftime and after the game.

While Las Vegas may have archaic mobile app registration rules, it still offers plenty of those “Only In Vegas” experiences people expect.

Super Bowl LVII futures

Minutes after Super Bowl LVI ended, sportsbooks opened futures betting for the Super Bowl LVII. The Buffalo Bills and Kansas City Cheifs open as +750 favorites at BetMGM sportsbooks to take home the next Lombardi Trophy.

The Rams and Bengals follow at +1100 and +1200, respectively. The Las Vegas Raiders are +5000 to win the Super Bowl next year. Here’s a look at the complete list of Super Bowl LVII futures:

Early action at BetMGM shows the Bills with 14.2% of the bets. And 18.3% of all money gambled on the Big Game for next year. These odds will change after free agency begins and the NFL Draft takes place.