Super Bowl LI breaks record for gambling wagers
By Jeff Glauser
The New England Patriots weren’t the only ones who made an impressive comeback in Super Bowl LI as Las Vegas sportsbooks also squeaked out a win on a record gambling day.
According to VegasInsider.com, sportsbooks showed a profit of $10.9 million in the aftermath of the Pats’ incredible 34-28 overtime victory over the Atlanta Falcons on Sunday. Entering the contest, New England was favored by three and the over-under was set at 57.
Per reports from the Nevada Gaming Control Board, the sportsbooks in Nevada broke the Super Bowl handle record with over $138.5 million in wagers.
While the money on the game itself was well balanced on both sides thanks to furious Falcons action on Sunday, the public got the better of the books with in-progress wagering as the Patriots erased a 25-point deficit.
Some betting shops also had the Patriots listed as high as 20/1 underdogs when they fell behind 28-3 to the Falcons in the third quarter. That number dipped to 12/1 odds and eventually 8/1 as New England began its historical comeback over Atlanta.
Bettors expecting overtime could’ve have nabbed a payout as high as 8/1 on the game going into the extra session.
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“We made a few bucks, luckily.” said Wynn Las Vegas Sportsbook Director John Avello. “It would have better for us if Atlanta wins in overtime. We took a bunch of Under money Sunday and that was basically our win to the game.”
Even though the hold was lower than last year’s profit (10.1%), the books still beat the betting public in the Super Bowl for the ninth straight year. They’ve only lost two finales to the masses since 1990: In 1995, when the San Francisco 49ers annihilated the San Diego Chargers, and in 2008, when the New York Giants upset the previously-unbeaten Patriots.
In addition to a Super Bowl record for largest comeback, Tom Brady set a new mark for passing yards (466) and career Super Bowl wins (5). New England also finished the season with an all-time record at covering the spread (16-3), doing so against mostly inflated numbers and without Brady for the first four games.