Sportsbooks profit once again SB58 Result

A record of $185.6 million was bet on the SB in Nevada shattering the previous record set in 2022. How much did the books earn? $6.8 mil , about 3.7% return . It was an increase from the 5.4 mil made last year, 3.6% return in SB57

All in all, the first Super Bowl in Las Vegas is off to a promising start 

https://twitter.com/howardstutz/status/1757243085665566853?t=xpfHb2BzDOF1jAk8SNKbrg&s=19

https://thenevadaindependent.com/article/wagering-on-super-bowl-lviii-sets-a-record-at-185-6m

@Digitalkarma

Yes, Nevada books made $6.8M from SB 58. But DKSportsbook needed San Francisco on the side which did not pan out yesterday, I am not sure that DrafKings is the only book out there needed 49ers yesterday. From the books' perspective, they're happy in the total mix from SB 58.

https://twitter.com/BFawkes22/status/1757235716374102163

I think majority of books wanted a 49ers win, probably would have earned more but not as worse as I thought they'd be. I kinda expected them to do alright guess that's 32 out of 34 profitable Super Bowls for nevada. They were happy Kelce did not score a TD or won MVP 

Thanks for all of this info.

@Digitalkarma

 I was shocked by your headline, then I read the article.

"Beynon estimated sportsbooks nationwide suffered a 4 percent loss on all wagers, which was “not as bad as our worst-case scenario.” Still, based on his predicted total of $1.5 billion in bets placed on the game nationally, the loss translated into an estimated $64 million."

64 million loss nationwide - 6.8 milllion revenue in vegas equals a loss of 57.2 million nationwide.  house lost.

Do you think Nevada gives a fuck about online sports betting platforms. Let me enlighten you, they do not allow them in the state. Vegas looks out for Vegas and not online sports books. It is the LVSC that sets the line for ALL games. Not some international outfit or some syndicate.

How do I know this? Nevada has a law that you have to set up the betting account with a local casino. It was rather annoying to have to wait but I figured out the kiosks. I didn’t realize this until I arrived in Vegas thinking I could use my app with my account loaded but nope.

This all tells me Vegas hates the online sports betting market because they used to be the only legal game in town(country).  

when do they ever not profit.. seriously. could be wrong but they might've had larger profits in the past. 6.8 doesn't seem whopping great 

With the weak odds they give! Not the true, they get bets both sides , they win ….period

@lordbettington

It's an estimate for now, I'm sure the analyst may be on to something though. I wonder if some of these losses were also due to the sportsbooks giving away promos bet $20 and get $200 bonus bets etc does that factor in.. Other states haven't reached the maturation point like Vegas has and for some states it's their first time booking the Super Bowl. Id be interested to see how New Jersey or New York officially did their handle should be way bigger than Vegas

@maxwagers781

https://www.boydsbets.com/super-bowl-how-much-bet/

You are correct.

@ricraider

 They've got it down to a science. 

Yep only twice, last time they took a loss was 2008. From what the books were describing early on it sounded like it would be their 3rd time lol but they managed to still scrape some profit overall

money wasn't lopsided in lv because 49ers fans at the game bet on them.  the article said kc60- sf40 in lv everywhere else is was 75-25 or so, and all those books lost.  If the game wasn't in lv, vegas would have lost just like all the other books nationwide.  "shows you why books will never lose".  books lost, read the article.  It is not a vegas monoply anymore.

I'm just thankful that the money the Books made on the SB

this year didn't come from me.      

California Gold Rush money is net big in the state of Nevada. Makes you wonder why all the other books would piggy back off the Nevada opening line b/c you can bet it was set based on a California team being in the Super Bowl.