Bookmakers cashed in big on Super Bowl XLVIII Sunday night with some expecting records for both the handle and the profit. One odds maker called it the busiest Super Bowl ever.
Indications from the different sports books such as Bovada, topbet, sportsbook.com and betonline are that the Super Bowl should be a record handle for them and it should be a huge profit for them as well.
The improbable Seattle Seahawks blowout of 43-8 over Denver sent huge shock waves through the gaming industry Sunday night helping the books to a huge win.
Many bookmakers in Vegas said the handle was 20% higher than last year’s Super Bowl and their holds on handles of between $90 million and $100 million were between 17% and 20%.
Despite the hype and talk of the best defense and the best offense bringing about a classic Super Bowl, the 48th Super Bowl was similar to the Super Bowls of the 1980s that were so one-sided including Denver being on the losing end of three of them.
This year, the public played most of its money on Denver, which was helped by the books not moving the line to Broncos -3. A few shops in Vegas did move their line to -3 but quickly shut that door after sharp money ran to the window for their bets.
Not only was it good for many books on the big win by Seattle, but also on the OVER (47.5) cashing with the point total hitting 51.
Many books offered odds of 50 to 1 on a safety being the first scoring play for Seattle and bettors taking that prop cashed in well, as that is just what happened when Denver’s center snapped the ball out of Peyton Manning’s reach and the ball went into the end zone for a safety.
It is the third consecutive Super Bowl that included a safety and the second in the past three years that the first score was a safety. Some books took a heavy loss on the prop.
Even though there were losses recorded by books on some props, overall the books did very well, recording another win on the Super Bowl. In Vegas, the Gaming Commission of Nevada starting keeping records on games in 1991, and since then, the books have only lost twice on Super Bowls.
Records and totals for the handle and profits in Vegas will be released on Monday with many expecting both the handle and profit to break all time records.
For many books, the high season on betting has come to a close, as the NFL represents up to 55% of total betting for some of them. However, with the NBA continuing, Major League Baseball preparing for its spring training and the World Cup scheduled for June of this year, the odds makers will continue to have their hands full.