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SB 50 Breaks Record for Biggest Handle

Manning super bowl

Sportsbooks across the betting industry are reporting that Super Bowl 50 was their biggest Super Bowl ever and Nevada sports books took in a record handle of $132,545,587 according to Nevada Gaming Control.

The books collected a hold of 10.1 percent for $13.3 million, which marks the third biggest hold percentage in the last 11 years. The other two best years for the books over that span also came in Peyton Manning Super Bowls (2014 and 2007).

That smashes the old handle record $119 million set in 2014, when sports books earned over $19 million and had their most profitable Super Bowl ever.

“These two technological advances (mobile betting and in-game wagering) have been huge drivers in increasing sports betting volume in Nevada,” says Michael Lawton, senior research analyst at Nevada Gaming Control. “As far as specific to the Super Bowl, the prop bets are becoming such a big part of wagering. Two years ago I was informed that prop bets represented 20-25 percent of total Super Bowl betting. This year multiple operators informed me that it was in the 50-60 percent range.”

Most books reported a small profit on Monday with wins on the spread, total and props while many also reported taking a hit on Broncos moneyline wagers. Super Bowl 50 now marks the 25th win over the public in the last 27 years, which is when Gaming Control starting keeping track.

Remember that for next year. Betting against the public has proven to be a smart way to go for the NFL’s championship contest.

Las Vegas sports books weren’t the only ones having a good day though.

“Handle was awesome. It was the biggest bet game in the history of the company, overtaking last year’s SB for the No. 1 spot,” says Dave Mason, point man for BetOnline. “To give you an example of how good the action was we took more money on the National Anthem prop than the Clippers-Heat game on national television.”

BetOnline was one of the only books to offer an OVER/UNDER on Super Bowl 50 handle.

“The number opened $118 million (over -115),” said Mason. The juice climbed to -240 heading into Super Bowl weekend. “So the public was obviously pounding the Over. We always get good action on that prop. The public always bets the Over. The public always wins.”

Which is probably one prop the books don’t mind losing.

Among the other props the books took a lump on were Von Miller for MVP, Cam Newton to rush for over 38.5 yards, over 3 or 3.5 field goals and ‘yes’ on the 2-point conversion prop.