Sports betting sites in Nevada received approximately $133.8 million in bets on Super Bowl LX. The state’s gaming regulator indicates that this amount represents the lowest figure in ten years.
Operators profited $9.9 million from the Seattle Seahawks‘ 29-13 victory over the New England Patriots. This profit represents a 55% drop from last year’s record, although it is in line with previous editions of the event.
Why has the flow of bets fallen in the state?
The total value of the event decreased for the second consecutive year after peaking in 2024, when Las Vegas hosted the game. However, the current US$133.8 million represents the lowest figure since 2016, when the game between the Denver Broncos and the Carolina Panthers generated US$132.5 million.
Local media reported a quieter-than-usual period at gaming establishments before the final. Consequently, hotel room rates fell on what is traditionally one of the city’s busiest weekends.
National competition and forecast markets
Nevada is now facing a national dispute after decades as the epicenter of sports betting in the United States. The legalization of the practice in most states, as well as the popularity of online prediction markets, now offers a wide range of entertainment options.
The Kalshi platform negotiated over $1 billion during the Super Bowl. Furthermore, this amount includes $113 million for the first song performed by Bad Bunny and $24 million for the appearance of actor Mark Wahlberg.
The $1 billion total encompasses bets related to the odds of winning made throughout the season. The DeFi firm Rate found that Kalshi moved more than $475 million specifically in bets on the winner, players, and results.
Analysis of audience performance and behavior
John Murray, vice president of Westgate SuperBook in Las Vegas, said: “aNow you can legally bet on sports across the country, and it wasn’t the best matchup.” The executive commented: “It didn’t have the same glitz as some recent Super Bowls.”
Some bookmakers noted a drop in high-stakes bets, while others said that recreational betting was not as significant as in previous years.
Nevada venues grossed a record $22.1 million last year during the game between the Philadelphia Eagles and the Kansas City Chiefs. This year’s revenue is less than half of that total.
Most bettors picked the Seahawks as favorites and were rewarded with a Seattle victory, which covered the 4.5-point spread.
However, the sportsbooks did well with the special bets. Wide receiver Jaxon Smith-Njigba didn’t score a touchdown, so this helped the Nevada industry secure a profit of nearly $10 million.
