Big Day for Bettors as Sportsbooks Take Losses in Super Bowl 52
Many experts and sportsbook managers believed Super Bowl 52 could provide a record betting handle in Nevada casinos. According to our betting data, Sunday’s Eagles-Patriots championship tilt was the second most-heavily bet game in our database, trailing only Super Bowl 50 between the Panthers and Broncos, meaning offshore sportsbooks saw massive action as well.
With such a large handle, sportsbooks were exposed in some areas and, fortunately for bettors, they took advantage. According to William Hill, their sportsbooks took a multi-million dollar loss on Super Bowl 52.
The Westgate Las Vegas Superbook told ESPN’s David Purdum that while grinding out a small win on the game, it wasn’t as pretty when it came to prop results:
The @LVSuperBook reports a small win on the game, but props were “really bad.” Book is hoping for a small overall win when counting futures.
— David Payne Purdum (@DavidPurdum) February 5, 2018
This is not surprising considering recreational bettors love to play ‘overs’ on prop bets. Super Bowl 52 finished with 74 points scored and set an NFL postseason record with 1,151 total yards, meaning the majority of ‘over’ bets cashed.
Interestingly, offshore sportsbook BetDSI reported losing on game bets, but scoring big wins on props, second-half bets and in-game wagering.
“We just basically broke even. We lost on the spread, we won the moneyline, we lost on the total and we killed it on the props. We won big on the second half and live in-progress betting,” said Scott Cooley, an odds consultant for BetDSI.
Photo via Brace Hemmelgarn-USA TODAY Sports