Las Vegas Review-Journal

Huge handle, wee win

- By Todd Dewey Las Vegas Review-journal

A game that rewrote Super Bowl records for offense also shattered Nevada’s record for betting handle. But the state’s sports books finished with their lowest win percentage in 10 years.

Nevada’s 198 sports books had $158.6 million wagered on the Philadelph­ia Eagles’ 41-33 upset of the New England Patriots on Sunday, according to figures released Monday by the Nevada Gaming Control Board.

The books won only 0.7 percent of the handle for $1.17 million to narrowly avoid losing money on the Super Bowl for the third time in 28 years.

The only two Super Bowls the books have lost since the state started tracking the game in 1991 were the Giants’ 17-14 upset of the Patriots in 2008 and the 49ers’ 49-26 blowout of the Chargers in 1995.

The win percentage was the lowest since 2011, when the books won

0.8 percent ($724,000) of the $87.5 million handle on the Packers’ 31-25 win over the Steelers.

Sunday’s game produced an Nfl-record 1,151 yards and generated the state’s third straight record handle. Last year’s game produced $138.5 million in wagers and the 2016 contest generated $132.5 million in bets.

“Props is the reason for the record

BETTING

handle,” CG Technology sports book vice president Matt Holt said. “Those things have just grown by leaps and bounds. We did over $3 million in props ourselves and that’s without taking any big bets.”

The prevalance of mobile apps and growth of in-progress wagering also have helped increase the handle.

“Everybody has in-game wagering and everybody has an app now,”

Holt said. “It used to be just a few of us.”

There were five $1 million wagers reported on the game, with only one on the Patriots, who closed as 4- to 5-point favorites. Four of them were

Newspapers in English

Newspapers from United States