Super Bowl LIII handle positive in Nevada, negative in New Jersey

The New England Patriots defeated the Los Angeles Rams 13-3 in Super Bowl LIII on Sunday. Some may have seen this as a boring game since there wasn’t a whole lot of offense, but for those who had money on it, it most certainly had their attention.

For the first time, U.S. bettors were able to bet on the game legally in states besides Nevada, thanks to the Supreme Court's decision to abolish the Professional and Amateur Sports Protection Act of 1992 (PASPA) back in May.

In New Jersey, preliminary betting information on the Super Bowl was released yesterday by the New Jersey Division of Gaming Enforcement. Between the casinos and race tracks, $34,894,900 was gambled on the game. The sportsbooks paid out $39,469,147, which ended up being a $4,574,247 loss and a -13.11% hold, thanks to heavy action on the Patriots, who covered the point spread, which closed anywhere from 2 to 3 points. These numbers are from the 10 land-based and 11 online sports betting opportunities New Jersey offers. In a press release, the Division of Gaming Enforcement noted that online sports betting had just opened to the public on 31 January in New Jersey, so it was very new at the time of the Super Bowl.

Nevada saw a much more successful Super Bowl after the Nevada Gaming Commission and Control Board released its figures yesterday, although for the first time in three years, it failed to break a new record for Super Bowl handle. From the 200 sportsbooks in Nevada, $145,939,025 was bet on the game, including future bets on the Super Bowl winner. The sportsbooks ended up winning $10,780,319 from the wagers, a 7.4% hold.

Many will overestimate the success of books today due to the low scoring game. There were some solid hits by the public. No TD in 1st half 100-1, No TD by Rams player 50-1, Gronks yards, Edelman MVP 30-1 to name a few. A good day but not “great”.
— Jay Kornegay (@JayKornegay) February 4, 2019

Last year, for the eighth time in nine years, the handle for Super Bowl betting at Nevada sportsbooks broke its previous record, shattering the 2017 number by more than $20 million with a total of $158.6 million wagered as the Philadelphia Eagles upset the Patriots, 41-33.

Even so, Nevada sportsbooks have come out ahead in 27 out of the 29 years since the Nevada Gaming Control began tracking bets on the Super Bowl in 1991, with the only losses coming in 1995 (49ers over the Chargers) and in 2008, when the NY Giants shocked the previously undefeated Patriots.

As of Tuesday morning, Super Bowl handle numbers from Mississippi, West Virginia, Pennsylvania, Delaware and Rhode Island were unavailable.

Despite the legalization of sports betting in several states throughout the country, Nevada is still finding ways to bring money in through sports gambling. The amount wagered on Super Bowl LIII in Nevada sportsbooks was the second-largest amount in the last 10 years.

The next major sports betting event, March Madness, is just a little more than a month away. It will be interesting to see how these two states compare again.