Sportsbooks win out on Super Bowl LVII betting

Nevada bookmakers bested bettors on the Super Bowl once again.

The state's sportsbooks won a net $11.3 million off the $153.2 million that was bet on Super Bowl LVII between the Kansas City Chiefs and Philadelphia Eagles. The amount wagered was down approximately 14.8% from last year's Super Bowl, which attracted a record $179.2 million in bets. The $11.3 million win by sportsbooks also was down from last year's game, but the hold percentage — the books' net win-loss percentage — was in the same range as previous years.

Nevada sportsbooks have come out ahead in 14 consecutive Super Bowls and have suffered net losses on the NFL title game only twice since the state's gaming control began tracking the action in 1991. The books lost $2.6 million on the New York Giants' upset of the New England Patriots in 2008, and approximately $397,000 on the San Francisco 49ers' rout of the San Diego Chargers in 1995.

Bookmakers said the number of bets on this year's Super Bowl was comparable to last season, but there were fewer of the massive wagers that often appear on the big game. Last year, seven Super Bowl bets of $1 million or greater were reported by sportsbooks. This year, there were only five $1 million bets reported, the largest a $2.2 million wager on the Eagles -1.5 placed in New York with Caesars Sportsbook.

GeoComply, a technology provider for online sportsbooks, said it tracked 100 million geolocation checks between bettors and sportsbooks on Saturday and Sunday, a 25% increase from last year during Super Bowl weekend. There were 100,000 geolocation checks in and around State Farm Stadium in Glendale, Arizona, which was the first Super Bowl venue to have a retail sportsbook on the premises, the company said.

The Chiefs,