Super Bowl Creates Massive Sports Betting Boon for Nevada Sportsbooks

Hosting this year's Super Bowl turned out to be great thing for the state of Nevada and its best sports betting apps.

Sin City was the scene of America's most wagered sporting event for the first time in 2024. The result was an all-time high for handle on the Big Game at the best sportsbooks, according to the Nevada Gaming Control Board Super Bowl figures.

“The wagering on the Super Bowl delivered an all-time record and definitely met our expectations,” Nevada Gaming Control Board senior economic analyst Michael Lawton said in a recent interview. “The drivers for this year’s totals included the matchup having a West Coast team from the No. 2 feeder market for Las Vegas, the defending champions and, of course, the game being played in Las Vegas at Allegiant Stadium.”

$185.6 million bet on Super Bowl in Nevada

Legal sports betting providers in Nevada took in a record $185.6 million on last weekend's Super Bowl. As the host of the Big Game, took advantage of not only Nevada citizens but also the throng of visitors to the state ahead of the NFL Championship contest.

The NGCB announced the Super Bowl sports betting handle on Monday.

Wagering activity on the 2024 Super Bowl bested 2023's totals by 21.1%, and the $185.6 million beat the previous Nevada Super Bowl record handle of $179.8 million set in 2022 by 3.2% 

“I believe it all makes sense,” Westgate SuperBook vice president Jay Kornegay said. “The first Super Bowl hosted in Las Vegas should break the record.”

Revenue reports mixed

Revenues for Nevada sports betting apps and retail providers around the Super Bowl were mixed. Profits for Nevada sportsbooks were better than the after the 2023 game, but still far off the revenue figures from the previous best Super Bowl handle year of 2022.

Clearly, Nevada bettors, who can capitalize on Nevada sportsbook promos, were backing the Kansas City Chiefs over the San Francisco 49ers on Sunday's contest.

A 3.7% hold rate was largely responsible for the slightly underwhelming Nevada Super Bowl sportsbook revenues. It was the fourth-lowest win rate for Nevada providers in the last 10 years.

In total, the state's 182 Nevada sports betting apps and retail providers combined for $6.8 million in revenues from this year's Super Bowl. While up $2.4 million from last year's Big Game, Super Bowl revenues for Nevada providers were off 37.8% from 2022.

Following a broader trend

The Super Bowl betting activity from Nevada sportsbooks supported a GeoComply report that identified a major year-over-year spike in bets on the Big Game in the American market. Geolocation technology revealed a year-over-year 22.3% spike in overall Super Bowl wagering across the country.

FanDuel, which leads all American betting sites, saw $307 million in bets across America on this year's Super Bowl. That's not only a record for the sports-wagering behemoth, but a new high-water mark for any sportsbook taking Super Bowl wagers in the U.S.

As more data becomes available, it's expected that more states and more sportsbooks will report record wagering activity on the NFL's championship game. GeoComply started the record numbers reporting, Nevada supported its findings, and FanDuel has identified its own record handle on the game.

Many more sports wagering entities will be out with more eye-popping numbers in the days and weeks ahead. Expect more records to fall.