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Nevada Sports Books Take Hit From Patriots Win

Nevada sports books won $3.26 million off $115.9 million wagered on Super Bowl 49, according to figures released by the Nevada Gaming Control Board.

It was the worst day since 2011 when sports books statewide won $724,176 on $87.49 million bet on Super Bowl 45, when the Green Bay Packers defeated the Pittsburgh Steelers 31-25.

The New England Patriots winning in a higher score game than expected was the worst case scenario for sports books, but William Hill and others still posted a profit. The point spread closed at pick ‘em and at most race and sports books posted an over/under total of 47.5.

The Patriots defeated the Seattle Seahawks 28-24 Sunday. Malcolm Butler’s game saving interception for New England on the goal line with 20 seconds left in the fourth quarter sealed the win, but hurt William Hill’s bottom line.

Nick Bogdanovich, director of trading at William Hill US, told KNPR's State of Nevada the New England win represented a “seven-figure swing,” but “we were still able to make a modest profit.”

The books held just 2.8 percent of the money wagered on the Super Bowl, the lowest hold percentage since 2011. The last time Nevada sports books posted a loss was in 2008, when the New York Giants beat the New England Patriots 17-14.

According to state gaming regulators, sports books lost $2.57 million on $92.05 million bet on the Super Bowl in 2008.

GUEST:

Nick Bogdanovich, director of trading at William Hill US
Copyright 2015 KNPR-FM. To see more, visit http://www.knpr.org/.

Nick Bogdanovich, director of trading at William Hill US

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