The Kansas City Chiefs’ 25-22 win over the San Francisco 49ers in Super Bowl 58 was a triumph for everyone on Sunday. Patrick Mahomes catapulted himself into an all-time great, leading his team to a third ring. Travis Kelce cemented himself with Taylor Swift, the sportsbooks and public set records, and the NFL saw all-time TV ratings.
Heck, even Brock Purdy was a winner of sorts, moving his reputation from game manager to franchise QB, while Mecole Hardman may have found his retirement gig. Even the State of Nevada and its sportsbooks won!
All in all, Super Bowl 58 was an all-time great for the league. In other sports betting news, New York sports betting continues to help the state’s tax revenue, while ESPN BET has found a way to get into the most populated betting state. It only cost them $25 million.
Sports Betting News: Super Bowl Betting, TV Ratings Records Fall; New York Getting ESPN BET and Nevada Sportsbooks Cash In
Last week, the American Gaming Association (AGA) reported that it expected Super Bowl betting records this year. Turn out the group was right.
The Nevada Gaming Control Board said a record total of $185.6 million was wagered at the state’s 182 sportsbooks. That is over $32 million more than was wagered last year and nearly $6 million more than was wagered in the previous best Big Game, Super Bowl 56.
Wagering numbers from the other states that permit sports betting in the U.S. weren’t available. However, the $23 billion estimate by the AGA is attainable, especially when you consider information released by GeoComply.
The company, which monitors geolocation to prevent bettor fraud, said there was a 22.3 percent increase in geolocation checks throughout Super Bowl weekend compared to last year. GeoComply analyzed its data from 28 states, Washington DC, and Puerto Rico. Thirty-eight states allow sports betting in the U.S.
Other interesting numbers from GeoCompy from this year’s Super Bowl include:
- During the two weeks leading up to the Super Bowl, GeoComply saw more than 1.77 million new users sign up for legal online betting accounts.
- Since the start of this NFL season, GeoComply customers have added more than 13.7 million new accounts, a 28 percent increase from last season.
- Minutes before kick-off, GeoComply saw a massive spike in traffic totaling 14.75 thousand transactions per second (TPS) immediately. This was the highest TPS ever recorded on GeoComply’s systems, nearly doubling the last Super Bowl’s peak
“The continued transition to the legal market set the stage for a historic first Super Bowl in Las Vegas, and the record-breaking results we saw did not disappoint,” said Anna Sainsbury, the chief executive officer and co-founder of GeoComply.
Perfect Trifecta Leads To Record TV Ratings
Super Bowl 58 also became the most-watched program in history on Sunday. It drew an average of 123.7 million viewers across TV and streaming platforms. Broadcast on CBS, Nickelodeon, Univision, Paramount+, and NFL digital platforms, the total blew past the previous mark of 115.1 million set last year.
The Chiefs dynasty, plus the Swifties, likely played a part in these numbers. Yes, it was a good game as well. However, when there is a dynasty in sports, fans flock to watch because they are either rooting for the team or against the team. There is rarely a middle road.
It’s also no doubt that Swift and her legions of fans played a part in the record TV ratings. She opened football up to a whole new crop of people and likely to sports betting. Her boy toy, Kelce, and his ATD prop, was one of the most popular bets on Sunday.
However, the popularity of sports betting and the growing number of legalized states can’t be dismissed. The first Super Bowl in Las Vegas and all the Nevada sportsbooks, betting is the first thing on everyone’s mind. Add in that football is the easiest sport to bet on, and the sheer number of props to bet on keeps people watching.
When you combine all three of these factors, it’s no wonder the TV ratings were so big.
More Super Numbers From Sunday
FanDuel took a record 14 million bets on the Super Bowl with a total handle of $307 million, also a company record. The figures account for a 40 percent increase from Super Bowl 57’s 10 million in bets worth $215 million.
It’s also being reported that the Nevada and other sportsbooks took a little bit of a hit on Sunday. The public was on the Chiefs and the over. The over fell to 56.5 by kickoff but was at 57.5 for most of the week. The non-PAT after the final touchdown cost the public a bigger payday (the final was 56).
“It was a bad Super Bowl for the sportsbook,” Tristan Davis, senior trader for BetMGM. “Many bettors had the Chiefs winning and overs on popular player props.”
It did help the sportsbooks that Kelce didn’t score a touchdown. Leading up to game day, Caesars Sportsbook said there were more bets on San Francisco’s Christian McCaffrey and Kelce to each score a touchdown than there were on the 49ers point spread and money line combined.
Did Mecole Hardman Predict the Super Bowl?
It’s well documented by now. Mecole Hardman, while with the New York Jets this pre-season, predicted through Oz The Mentalist that “his team” would play the 49ers in the Super Bowl and win 31-21.
Hardman was right, but he did get the score wrong.
Likely, as a result of that prediction, FanDuel said that the most popular final score bet was 31-21 in favor of the Chiefs. It’s amazing that the prediction carried that much weight.
I have to admit, I went all in, too. I placed a bet on 31-21 Chiefs and 31-21 Niners just in case and also bought the 1-1 final score block in the FanDuel block pool.
ESPN BET to Launch in New York
ESPN BET just spent $25 million to get into the largest wagering state in North America.
PENN Entertainment has reached an agreement with Wynn Interactive Holdings to acquire its New York mobile sports wagering licenses. The move means that ESPN BET, which is operated by PENN, will have a presence in the New York sports betting scene at some point this year.
“This is an important development that will bring ESPN BET to the largest regulated online sports wagering market in North America,” said Jay Snowden, PENN Entertainment CEO and President. “Together with ESPN, we’re building a brand that is synonymous with sports betting, and operating in the New York market is key as we grow ESPN BET across the U.S.”
As part of the transaction, PENN is acquiring WSI US, LLC, from Wynn Interactive Holdings for $25 million. WSI US, LLC is the entity that holds the mobile sports wagering licenses that were previously issued by the New York State Gaming Commission in 2021. Wynn Interactive is a subsidiary of Wynn Resorts, Limited.
The deal is pending regulatory approvals.
States Continue To Capitalize On Sports Betting Taxes
The U.S. Census Bureau recently released its Quarterly Survey of State and Local Revenue for Q3 of 2023, and it showed that states continue to do well when it comes to tax from sports betting.
The report showed that states collected $505.96 million in tax and gross receipts from legalized sports betting. That’s a 20.5 percent increase from Q3 2022. However, it’s slightly down from Q2 2023’s $571.48 million.
It’s no surprise New York’s the state with the largest share of the nation’s tax revenue, with over $188 million. Indiana ($38.6 million) and Ohio ($32.9 million) rounded out the top three states. Illinois (32.4M), Pennsylvania (28.8M), New Jersey (20.2M), Tennessee (16.1M), Massachusetts (13M), Virginia (12.8M) and Montana (10.6M) rounded out the top 10 states.
Each state uses the income generated from sports gambling taxes in different ways. The taxes fund projects ranging from infrastructure improvements to education to law enforcement to gambling addiction programs.
