Nevada Takes Post-PASPA Low Handle for Super Bowl Betting; DraftKings Faced $8B in Payouts
Just $133.8 million wagered in Nevada on the big game, as the Super Bowl handle suffers double-digit percentage drop for second straight year.
Super Bowl betting in Nevada hit a post-PASPA low this year as bettors only wagered just $133.8 million on the NFL title tilt between the Seattle Seahawks and the New England Patriots. That’s according to initial figures released late Monday by the Nevada Gaming Control Board.
Wagering fell 11.7% from the $151.6 million wagered on the NFL championship game last year. It was also down 29.6% from the record $190 million handle produced two years ago.
The Super Bowl LX handle is the lowest Nevada Super Bowl handle since bettors wagered $132.5 million in 2016, when the Denver Broncos beat the Carolina Panthers 24-10 in Super Bowl 50.
This year’s betting total could not even top the 2021 Super Bowl handle of $136 million, which happened while Nevada casinos were restricted to 25% capacity because of the COVID-19 pandemic.
Despite the depressed wagering, the sportsbooks still reported a 7.4% win rate off the big game, which the favored Seahawks won 29-13. However, the nearly $9.9 million in revenue was off more than $12 million from last year’s reported revenue, aided by Philadelphia’s upset win over Kansas City. Further, Nevada sportsbooks recorded lower Super Bowl revenue totals just twice since 2017.
Fewer Super Bowl Bettors Have a Need for Nevada
It’s not difficult to see why Nevada saw a significant drop in handle for the big game. Sports betting is now legal in 40 states, plus the District of Columbia, and 32 of those states, as well as D.C., permit online wagering.
As DraftKings Johnny Avello, who previously oversaw the Wynn Sportsbook on the Vegas Strip, told Gambling Insider last week, “Vegas is still there, and Vegas still has the parties, but Vegas really doesn’t compete when it comes to the amount of money taken, the amount of different offerings you could wager on.”
This year was also the first year when the Super Bowl was available to nearly all bettors nationwide, thanks to the proliferation of prediction markets. The controversial operators, regulated federally instead of at the state level, gave bettors in California, Texas, and other states without legal sports wagering additional options to get action on the game. Those markets recently received the blessing from Mike Selig, the recently confirmed chairman of the Commodity Futures Trading Commission. The CFTC oversees prediction markets.
Nevada is among the states that have challenged the legality of prediction markets, but it’s unlikely that a final resolution will come in time for Super Bowl LXI, which is scheduled for Feb. 14, 2027, at SoFi Stadium in Inglewood, Calif.
DraftKings Reports Big Weekend
From an online sportsbook perspective, DraftKings reported Monday evening that it had more than $8 billion in “potential payouts” riding on the outcome of Super Bowl LX. While the majority of point spread bettors with the Boston-based operator picked the Seahawks to cover , which they did, DraftKings made up for that on the moneyline, which saw more money placed on the underdog Patriots.
The company did not reveal the amount wagered on the game by its bettors.
Still, DraftKings reported a few big paydays for bettors. For instance, it paid out more than $15,000 to someone who bet $10 on a total receptions parlay featuring A.J. Barner (4+), Demario Douglas (3+), Hunter Henry (3+), Rhamondre Stevenson (3+), and TreVeyon Henderson (3+).
Another fortunate soul won $351,000 after betting $1,500 on a longshot futures parlay of Indiana winning the College Football Playoff and the Seahawks winning the Super Bowl.
DraftKings also operates a prediction market, with sports contracts available in 17 states where it cannot offer online sports betting. That includes California, Texas,, and Georgia – the three most populous states that have yet to legalize online sports betting. It’s also available in Florida, where Hard Rock controls online sports betting rights.
Sports markets, though, are not available in Nevada on DraftKings Predictions.
DraftKings said its prediction market platform, which it launched late last year, saw record volume. However, the company did not disclose the total volume wagered.
Kalshi, which began offering sports contracts on its exchange more than a year ago, reported trading set a one-day record on Sunday. Even with some =reporting delays in trading and deposit availability, traders staked more than $870 million on contracts involving the Super Bowl and its ancillary events, including the Bad Bunny halftime concert and which companies would air commercials during the game.
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