Super Bowl match-up leads to losses for sportsbooks

The Kansas City victory yielded big wins for the public.

The nation’s sportsbooks were in for a big surprise during last night’s Big Game. The San Francisco 49ers lost to the Kansas City Chiefs during overtime.

According to an ESPN news report, many sportsbooks around the country leaned toward a 49ers victory. However, Super Bowl LVIII went into overtime at the end of the fourth quarter.

Chiefs quarterback Patrick Mahomes led the team to a 25-22 win over the 49ers. The team scored the winning touchdown but did not have to kick a field goal at the end of the game.

Mahomes was named MVP for Super Bowl LVIII. SuperBook Executive Director John Murray shared with ESPN, “The Chiefs force OT and then win, there is nothing that could’ve been worse.

“The bet ticker really lit up with six-figure wagers about 12 o’clock [PT]. The big bets were on the 49ers, and the majority of the wagers were on the Chiefs.”

Overtime play last night contributed to a swing in favor of the public, according to the local report. ESPN Bet reported that the odds of the game going into overtime were 11 to 1. Several sportsbooks “reported lopsided action” when it came to the possibility of overtime.

Caesars Sportsbook VP of Trading told ESPN, “Overtime was bad. It was our biggest loser of the prop bets.”

BetMGM Senior Trader Tristan Davis agreed that this year’s Big Game did fare well for US sportsbooks.

He commented in a company release, “It was a bad Super Bowl for the sportsbook, many bettors had the Chiefs winning and overs on popular player props.”

Amanda Foster

Writer

The strongest platforms guide players without calling attention to the guidance. When design choices feel natural, users can focus on decisions rather than deciphering the system.

Visit Profile

Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.