Sports books report modest Super Bowl win

Feb 10, 2010 7:12 PM

by GT Staff |

Nevada’s 182 sports books last Sunday raked in total Super Bowl wagers of about $82.7 million, a modest 1.5 percent increase over last year’s Super Bowl handle of $81.5 million.

The net win for sports books was about $6.8 million, which represents an 8.3 percent "hold" percentage, according to a report released Tuesday by Nevada’s Gaming Control Board.

While most sports book directors reported positive results, many expected a larger handle than reported.

"Based on the lines in the sports books and the amount of tickets written, I was certain we’d come close to the $90 million plateau," said a sports book supervisor at a "locals" casino in Las Vegas.

Indeed, after Sunday’s big game, many books were reporting brisk activity. The new M Resort sports book even estimated their handle alone at $10 million.

Super Bowl handle in Nevada hasn’t eclipsed $90 million since 2008, when sports books handled $92 million. That year, however, sports books actually lost $2.5 million on the game, when the New York Giants derailed the New England Patriot’s bid for a perfect, undefeated season.

The largest handle occurred in 2006, when books raked in $94.5 million.

Nonetheless, most sports directors are satisfied with the 8.3 percent win. Some directors attribute much of their win to parlay card action, which features "ties lose" propositions.

Several books estimated they held up to 50 percent or 60 percent on parlay card action.

During the regular football season, sports books held about 6.5 percent on football bets, and about 32 percent on parlay cards.

                    SUPER BOWL BETTING RESULTS

YEAR     WAGERS     WIN/(LOSS)  WIN%   RESULTS

2010     $82,726,367     $6,857,101      8.3%    Saints 31, Colts 17

2009     $81,514,748     $6,678,044      8.2%    Steelers 27, Cardinals 23

2008     $92,055,833     $(2,573,103)   -2.8%    Giants 17, Patriots 14

2007     $93,067,358     $12,930,175   13.9%    Colts 29, Bears 17

2006     $94,534,372     $ 8,828,431    9.3%       Steelers  21, Seattle 10

2005     $90,759,236     $15,430,138   17.0%    Patriots 24, Eagles 21

2004     $81,242,191     $12,440,698   15.3%    Patriots 32, Carolina 29

2003     $71,693,032     $5,264,963     7.3%      Tampa Bay 48, Oakland 21

2002     $71,513,304     $2,331,607     3.3%      Patriots 20, St. Louis 17

2001     $67,661,425     $11,002,636   16.3%    Ravens 34, Giants 7

Question? Comment? E-mail the staff at: Staff of GamingToday