It was a record-breaking Super Bowl for sportsbooks as gamblers ponied up across the United States.
Super Bowl 57 was the first one to be played in a state where sports gambling is legal, and early data shows there was a lot of enthusiasm for betting on the big game.
GeoComply, a company that verifies the locations where gamblers are betting, saw 100 million sports-betting transactions this Super Bowl weekend, an increase of 25% over last year. In and around State Farm Stadium in Glendale, Arizona, more than 100,000 transactions were verified on Sunday.
FanDuel expected to handle more than 17 million Super Bowl bets. At its peak, the sportsbook told CNBC, it accepted 50,000 bets per second and averaged 2 million active users on its platform throughout the game.
The wagering was intense even in Las Vegas, the nation’s most mature sports betting market. MGM Resorts said it set a new company record for Nevada: the highest Super Bowl handle in history, combining the money bet in its nine…
2023-02-13 11:53:27
Original from www.cnbc.com
Sportsbooks across the United States have a lot to be thankful for following the recent Super Bowl. With a huge influx of Super Bowl betting leads to record profits being reaped by the sportsbooks.
In the lead up to the Super Bowl, a large number of bettors were evidently seen placing bets on their favourite teams to become victorious, either to just support the teams or to try and make a quick buck. This resulted in various states, such as New Jersey, reaping record profits from Super Bowl betting which far surpassed what was initially predicted.
The success of sportsbooks to reap record profits from Super Bowl betting was likely in part due to the numerous prop bets that were made available. The prop bets allowed gamblers to place bets on a variety of different scenarios and results which presumably heightened the interest in the Super Bowl pushing bettors to get involved.
It wouldn’t be surprising to assume that the success enjoyed by sportsbooks this Super Bowl has laid the foundations for what we may see from the sportsbooks and NFL betting in the future. With the increased interest in NFL betting predicted to stay, sportsbooks have the potential to be in an even better position to reap the rewards in terms of profits, should they continue to provide bettors with engaging betting opportunities.
Although sportsbooks have a huge reason to celebrate, there are also a multitude of bettors who can be thanked for the success this Super Bowl, after all, the high betting volume would not have been possible without bettors wagering their money.
Despite whatever speculation of sudden losses and issues taking place surrounding sportsbooks in the past, this latest wave of news has raised morale in the industry and should sportsbooks build on the success of this Super Bowl, it could be a prosperous future for the sportsbook industry.