In a historic first for Las Vegas, the city played host to Super Bowl LVIII, breaking records in betting handle and marking an unprecedented chapter in sports gambling history.

Nevada Sportsbooks Break Records with $185.6 Million in Bets

Nevada sportsbooks witnessed a staggering $185.6 million in wagers, a feat that shattered previous records and underscored the immense popularity of sports betting in the region. The figures, released by the Nevada Gaming Control Board, revealed a significant increase from last year’s handle, marking a 21.2% surge.

The Kansas City Chiefs emerged victorious in a thrilling showdown against the San Francisco 49ers, clinching their second consecutive Super Bowl title and third in five years with a 25-22 overtime victory. Despite being 2-point underdogs, the Chiefs defied the odds, sending shockwaves through the sports betting world.

Michael Lawton, senior economic analyst at the Nevada Gaming Control Board, explained that several factors drove the record-breaking handle, including the matchup with a West Coast team from the No. 2 feeder market for Las Vegas, coupled with the defending champions, and the game being played in Las Vegas itself.

Nevada Faces Low Hold Percentage Amid Super Bowl Craze

However, the triumph for bettors spelled trouble for sportsbooks, with Nevada’s 182 sportsbooks collectively winning $6.8 million, marking a relatively low hold percentage of 3.7%. The public’s overwhelming support for the Chiefs, coupled with successful bets on the overtime prop, dealt a blow to the sportsbooks.

Chuck Esposito, sportsbook director at Red Rock Resort, noted the palpable excitement surrounding the event and expressed his belief that the record would be broken, citing the influx of early wagers and the occurrence of six-figure bets two weeks prior.

Las Vegas emerged as the epicenter of Super Bowl betting fervor, with five of the eight $1 million bets nationwide placed in the city. Stakeholders, including BetMGM and Circa Sports, played a pivotal role in orchestrating the monumental event, earning accolades from Kirk Hendrick, chairman of the Nevada Gaming Control Board, for their contributions.

One of the most notable bets on the Super Bowl showdown came from Canadian rapper Drake. Despite concerns fueled by the infamous “Drake curse,” the rapper’s $1.15 million bet on the Kansas City Chiefs paid off as they defeated the San Francisco 49ers in the Super Bowl, breaking the curse. This victory marks the second year in a row that Drake has successfully backed the Chiefs, earning him approximately $2.34 million according to his bet slip.

As the dust settles on Super Bowl LVIII, Las Vegas basks in the glow of a historic milestone, solidifying its status as the ultimate destination for sports betting enthusiasts worldwide.

The post Las Vegas Makes History with Record-Breaking Super Bowl LVIII Betting appeared first on Keno Wizard.

The Kansas City Chiefs are the defending champions who weren’t too impressive in the regular season. However, Andy Reid’s men really switched to the top gear when the postseason started.

They’ve already slain a couple of giants in 2024 and they’re determined to do the same on February 11. However, Super Bowl LVIII odds suggest the San Francisco 49ers will be the ones to lift the Lombardi Trophy.

San Francisco 49ers vs. Kansas City Chiefs Super Bowl LVIII Odds

10254 players claimed the offer this month

When, Where, and How to Watch?

• Place: Allegiant Stadium in Paradise (Las Vegas), Nevada
• Date: Sunday, February 11, 2024
• Time: 6:30 p.m. ET
• How to Watch: CBS

Kansas City Chiefs Looking Great Ahead of Super Bowl LVIII

The Kansas City Chiefs went 11-6 in the regular season. It was their worst record since 2017, which was the rookie season of Patrick Mahomes. The quarterback had a mediocre season in 2023, but his form has improved since the start of 2024.

He’s thrown for four touchdowns in the three playoff games the Chiefs have played so far. It may not seem too impressive, but you need to keep in mind that these guys played against some really tough opponents – the Miami Dolphins, Buffalo Bills, and Baltimore Ravens.

Mahomes and his colleagues from Kansas City’s attacking team have been great, but it’s the Chiefs’ defense that’s been a real-world-beater in 2024. In the AFC Championship Game, they absolutely destroyed Lamar Jackson and the Ravens, keeping them to only 10 points.

Can the San Francisco 49ers End the Chiefs’ Dominance?

It’s been 29 years since the San Francisco 49ers won the Super Bowl the last time. Since then, they played the NFL Championship Game on two occasions, namely, in 2014 and 2020. The latter – Super Bowl LIV – saw them lose 31-20 to the Chiefs.

Mahomes was the MVP of the Championship Game, while his teammate at the time, Damien Williams, scored two touchdowns (one rushing and one receiving TD). Williams, however, is no longer in Kansas City. The same goes for another five players from the starting 11 in the Kansas City Chiefs offensive team in Super Bowl LIV.