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00:00Grant, Sam McQuillan's with us from Legal Sports Report.
00:02In case you were wondering who bet heavily on the Super Bowl,
00:06I don't know the answer to that, but I know the team that was
00:08that heavily on the Super Bowl as we bring in Sam, because
00:10very clearly, if the books made money, that tells me that
00:14everyone was back in the Chiefs.
00:16Is that accurate?
00:18Wrong, Craig.
00:19This is actually a great case study in what happens in sports
00:24betting these days when you have public money going one way.
00:28So the Eagles won 40 to 22.
00:31They actually secured the public victory on the spread,
00:34the money line, and the game total.
00:37So the books got hit hard on all these major markets.
00:39One Wall Street firm even called it the worst case scenario
00:43for the gambling companies they cover in terms of the game
00:46outcome. But if this Super Bowl is evidence of anything,
00:49it's just that those markets really don't matter the way
00:52they used to. Yesterday, Nevada, which is the first state
00:55that reports this kind of stuff.
00:57It's also where Las Vegas is.
00:59It's the biggest state usually every year for sports betting
01:02on the Super Bowl.
01:03They said that their sports books made the most money they
01:06ever have on a Super Bowl.
01:09That's $22 million in net win, about 15% hold rate, which
01:15is pretty much double what a normal hold rate usually yields
01:20on a Super Bowl or sports in general.
01:22And that's despite there being 20% less dollars wagered
01:27on the Super Bowl in Nevada this year versus last year.
01:31Now, that's kind of a different story.
01:32You know, tourism has been down in Nevada.
01:34It's not, doesn't have as much to do with the whole online
01:37betting picture, but some sports books are calling it their
01:41best Super Bowl ever, which again is just staggering considering
01:45how they got hit so hard on these major markets.
01:48BetMGM came out and said that it was their best single game
01:51result, citing Saquon Barkley and Travis Kelsey's performances.
01:55Those two players really ended up deciding the day for most
02:00of the gambling industry, just showing how important player
02:03props have become.
02:04They're not just in the same game parlay is that the player
02:07props are part of, you know, they're not just these high margin
02:10bets for sports books.
02:11Now, they're really becoming ways to like legitimate ways to
02:14mitigate risk on the side of a game. At Caesars, there were
02:18more bets on Saquon to score a touchdown than there were on
02:21the money line or the spread combined for both teams.
02:24He, you know, he's had a great postseason or had great
02:26postseason, averaged, I think, 160 yards per game over a
02:29touchdown. But then the Super Bowl, he really didn't do much.
02:32The Chiefs shut him down.
02:34And I know like watching this game, the sports books had to
02:37be thinking like, yes, like we're so happy that Saquon is
02:40not doing anything.
02:41We don't even care about the game result. And then obviously
02:43Travis Kelsey, you know, had quite a dud as well.
02:46So it really just goes to show you the power of player
02:50props and the power of seeing them parlays and how it's
02:53changed so much.
02:54This is kind of the first year where Wall Street's assuming
02:57that they got hit hard, but the sports books are coming out
02:59and saying, no, this is actually a great day because of
03:02all, you know, the little stories within the game, the
03:04players and their performances.
03:05So we'll get more reporting on, you know, the Super Bowl
03:09outcome for the books as sports books talk about their
03:12earnings this month, as well as when the States come out
03:15and talk about how much money they actually made.
03:18I would expect, you know, this is obviously going to be
03:20one of the most back games of the year.
03:21So really interesting here how it's developed so far.
03:24We'll keep watching reporting on it at LSR.