New Jersey Sportsbooks Lose $4.5 Million on Super Bowl 53 Betting
East Rutherford, NJ - New Jersey sportsbooks take a large loss for legal Super Bowl LIII betting, as the Division of Gaming Enforcement reported a $4.5m loss in revenue. Bettors hit a total combined handle of just under $35m for the New Jersey sportsbooks at the state’s casinos and racetracks.
The majority of people had their money on the Patriots to cover the spread against the Rams and this is due to regional bias. Located so close to New England, New Jersey saw anywhere from 75-90% of the total money wagered on the Patriots.
However, these New Jersey sportsbooks aren’t too worried as they win over the long term. They have profited over $72m from the over $1b handle the first six months of operation has seen. CEO of William Hill, Joe Asher, said the Super Bowl “was by far our biggest day ever in New Jersey in terms of handle.”
This is a just a minor payout in the grand scheme of things but some locations were hit worse than others. SugarHouse, DraftKings, and the William Hill’s NJ sportsbooks all reported a loss but none as bad at FanDuel Sportsbook at the Meadowlands.
FanDuel Sportsbooks Loses $5 million In Super Bowl Betting
On the Thursday before the Super Bowl, FanDuel noted that 90% of the money bet on the spread was for the Patriots. The Patriots covered the 3 points that were against them and sent the legal sportsbook into turmoil.
FanDuel also offered a moneyline promotion, where picking the winner had a payout of 53-1. This offer, which allowed for a max bet of $5, could profit you $265.
Super Bowl 53 may have been the first professional championship game to be on betting boards outside of Nevada, but FanDuel also lost money on the College Football Playoffs. FanDuel paid out Alabama bettors over $400,000 a month before the National Championship game occurred, to which both the university and sportsbook lost.
Other various prop bets assumed the loss for the popular DFS company’s sportsbook. One gambler placed a $250 wager on a 400-1 betting line that the Rams would score exactly 3 points. Well, that hit and the gambler walked away with a $100,000 payout.
Super Bowl Betting Across The Country
Nevada bookmakers came out positive, $10.7 million to be exact. The state saw a Super Bowl handle of $146 million, which was down 8% from last year’s contest – still good for 2nd most ever.
Mississippi had a handle of $4.67 million at their non-tribal sportsbooks. This number was met by gamblers showing up to the sportsbooks, as state laws do not give the ability to wager from your mobile device outside casino property.
This $185 million handle is reported by the three biggest legal sports betting states. However, the total will increase upon Pennsylvania, Delaware, New Mexico, West Virginia, and Rhode Island releasing their numbers.
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