The first Super Bowl played in Las Vegas was a resounding success. From the thrilling overtime victory of the Kansas City Chiefs over the San Francisco 49ers to the unique spectacle of Vegas, Super Bowl LVIII lived up to the hype and became the most-watched program in television history. The game marked a milestone as the first Super Bowl to be held in Las Vegas, thus making history in terms of betting as well. According to the Nevada Gaming Control Board, Nevada sportsbooks set a record for Super Bowl wagering with $185.6 million bet on the game, surpassing the previous record set in 2022.
The Nevada sportsbooks won an average of 3.7%, which was the fourth-lowest win percentage for the books in the last 10 years. Some of the big winners for the public were the overtime prop bet at 9-1 odds and the Chiefs, who closed as 2-point underdogs despite being the defending champions. Notably, 71% of the money bet against the spread at sportsbooks was on the Chiefs. Since 1991, the Super Bowl has been an event where sportsbooks consistently make money, with only two instances where the public came out ahead.
Vegas has become the epicenter of the sports world, highlighted by its hosting of the Super Bowl LVIII. Over the past year, Vegas has hosted notable events including a Stanley Cup Final, WNBA Final, Formula 1 race, and UFC fights, all of which have contributed to the increase in gambling revenue in the state of Nevada. The Super Bowl saw a 21.2% increase in sports betting from 2023, signaling the potential for the Super Bowl to return to Vegas in the future.