Nevada Sportsbooks See the Smallest Super Bowl Betting Handle in a Decade

^{Seattle Seahawks quarterback Sam Darnold and MVP running back Kenneth Walker III celebrate the Super Bowl win on Sunday evening. (Photo: Matt Slocum / AP)} 

LAS VEGAS — Nevada's 186 sportsbooks saw $133.8 million wagered on the Super Bowl, according to unaudited revenue reported by the Nevada Gaming Control Board. This was the lowest total in 10 years, down 11.7% from last year and 30% lower than 2024, when Las Vegas hosted the Big Game.

Does it really matter to Las Vegas casinos? Maybe. 

According to the report, casinos held 7.4% of wagers, generating $9.9 million in revenue. That's more than 50% lower than last year’s $22 million win when the Philadelphia Eagles defeated the Kansas City Chiefs and the third-lowest hold in the past decade.

The board will release the full January revenue report in a couple of months, which will offer a clearer picture of how casinos performed during Super Bowl weekend along with slot and table game revenue, 

During Red Rock Resorts’ earnings call on Feb 10, President Scott Kreeger said the company saw “decent results” from the game and “better results” from slot machine play. 

Why Nevada Casinos Saw a Dip in Revenue

The decrease can be attributed to several factors.

The Super Bowl rematch generated limited interest before kickoff compared to previous ones, with some calling it the “worst Super Bowl ever.”

Since most of Nevada’s gaming revenue emanates from the Las Vegas Strip, the continued dip in visitation to Las Vegas may also have contributed to fewer wagers. 

However, the monthly sports betting handle has not declined at the same rate. Nevada’s in-person mobile sportsbook registration is often cited as a reason betting handle is lower than in other states. Full online registration in many states results in more than 90% of wagers being placed online. In Nevada, about 70% of bets are placed on a mobile device.

The in-person requirement is one reason why Las Vegas casinos can have great Super Bowl watch parties.

Another reason traditional sportsbooks around the country may see a slip is the rise of prediction markets. Kalshi, which has been competing against Nevada regulators, said it saw more than $1 billion in trades on Super Bowl Sunday. There was so much activity and technical issues on the app during the Super Bowl that many people who deposited money could not instantly access their funds to bet on prediction markets until minutes to hours later.

Super Bowl Betting Revenue Isn't Everything

Sports betting is far from dead in Las Vegas, but it is only a small part of the business for Nevada casinos. Casinos saw a 24.75% increase in sports betting revenue last year, according to the Nevada Gaming Control Board.

But on the Las Vegas Strip, sports betting only accounted for just 3.3% of gaming revenue. Gaming overall represented only 26.1% of total casino revenue as well.

Sports betting revenue does not include indirect income from other operations such as bars, restaurants, hotel rooms, and watch parties. At Circa’s Stadium Swim, Super Bowl entry started at $143 before food and drinks, while reserved seats inside the sportsbook began at $500. 

Direct income from sports betting may not be critical for Nevada casinos. However, it helps drive business to other departments, which is far more valuable to casino operators.