Nevada Reports New Record for Super Bowl 50 Bets

Published February 10, 2016 by Sol FH

Nevada Reports New Record for Super Bowl 50 Bets

Over $132 million wagered on Super Bowl 50 in Nevada alone. Including bet from President Barack Obama.

It was a great day for punters that bet on the Broncos in the underdog position prior to Super Bowl 50. American bettors had a great opportunity to win lucrative cash from legal online sports betting in Nevada and over 40 million of them did so over the weekend. Nevada-based sportsbooks took in a record of $132.5 million in wagers, with the Broncos a 5.5-point underdog. Many punters decided to put their money on Cam Newton for Super Bowl MVP, but those that bet on defensive MVP Von Miller received incredible 12-1 odds.

The majority of gamblers bet heavily on a Panthers win, weeks before the game. A few days before the main event however, the bets became to pour in for the Broncos. For sportsbooks, the best outcome would have been a Panthers victory, but not being able to cover the spread.

There are currently 194 sportsbooks in Nevada, and their win profits would have been somewhere around $13.3 million, or 10% of the $132.5 in total bets. The new record beats the one set two years ago at Super Bowl 49, in which the Seahawks beat the Broncos. This is a good indicator of profits that other states could see if online gambling legislature was to change in the US in the future. 

Presidential Wager

President Obama appeared on the Late Show with Stephen Colbert after the game and he stated that he not only watched the game, he also placed a bet on the action. The President did not specify for which team or the amount he bet, but when asked if he knew that gambling outside of Nevada, New Jersey or Delaware was illegal, Obama simply said, “I’m the president. I hereby pardon myself.”

Bets on the next Super Bowl are already posted on leading bookmakers’ sites with the Panthers and Patriots as early favorites. Now is a great time to bet on next year’s winner as the odds will undoubtedly get progressively smaller as trades and the season gets started.

 

See also

Nevada Open to Online Poker Partnership with New Jersey

Nevada Preps-Up for Ashcroft Meeting

Nevada Attracts Japanese Companies

Nevada Tackles Gambling Compulsion

Challenge to Online Gambling? Nevada Lottery Introduced for Consideration


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