2011 Super Bowl Breakdown

The Nevada Gaming Control Board has released the unaudited figures for this year’s Super Bowl, and in spite of early reports that the books took a beating, they actually came out slightly ahead. Here’s a quote from the press release:

THE GAMING CONTROL BOARD RELEASED FIGURES TODAY SHOWING THAT $87.5 MILLION WAS WAGERED IN NEVADA’S 183 SPORTS BOOKS ON THIS YEAR’S SUPER BOWL.

GAMING CONTROL BOARD CHAIRMAN MARK LIPPARELLI SAID, “UNAUDITED FIGURES SHOW A SPORTS BOOK WIN OF $724,176 WAS RECORDED ON WAGERS TOTALING $87,491,098. THIS RESULTED IN A HOLD PERCENTAGE OF 0.83%.”

The release also has a table indicated the results for the past ten Super Bowls:
superbowlbets

The low hold, as you can see, is a bit of an anomaly. But even if the books had lost money, the casinos would have made money over the weekend, thanks to more action in the casino, even if you discount the bump from the Chinese New Year.

I wonder what role in-running bets had on keeping the win up–with more betting during the game, there were more decisions, which theoretically should get a hold percentage closer to 5.45% over time.

The real story, I think, is that the handle is trending up again. That’s a sign that people are gambling more money, which in the end will be good for Nevada gaming.

2 Responses to '2011 Super Bowl Breakdown'

  1. Most of the bets were on the Packers and the over so the sports books lost with that combination. They made a small profit because with all the other proposition bets customers will bet $10 or $20 on odds that are usually 10-1 or higher and lose. The reason the sports books lost money in 2008 was because some people who bet on the New York Giants bet them on the money line (at +375) and they won the game outright.

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