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New Jersey Sportsbooks Lose $4.5 Million On Super Bowl LIII

Nevada Sportsbooks Win $10.7M Despite 8 Percent Drop In Amount Wagered

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Super Bowl LIII was the first NFL championship game that gamblers could bet on in New Jersey, and based on the numbers, it looks like gamblers made out well in the Garden State with sportsbooks suffering hefty losses.

According to the state’s Division of Gaming Enforcement, there was $34.9 million wagered on last Sunday’s match-up between the Los Angeles Rams and the New England Patriots. New Jersey gamblers walked away as collective winners as the sportsbooks lost $4.5 million on the game.

Of the state’s 10 retail betting locations and its 11 mobile apps, FanDuel’s sportsbook emerged as the biggest loser in the state. Its customers won a total of $5 million from the company’s mobile app and in-person sportsbook at the Meadowlands Racetrack.

“By kick off, 75% of money was on the Pats. In addition, new customers took advantage of a great sign up offer for the Super Bowl week that won them $265 on a $5 bet with odds of 53-1. All of this combined to leave New England as a big loser for the FanDuel Sportsbook. Very big in fact. We estimate our customers won almost $5 million from us on the Big Game,” the company said in a statement.

Nevada sportsbooks, on the other hand, won $10.7 million from gamblers in the Silver State. There was $145.9 million bet on the game, down 8 percent from last year’s record amount of $158.45 million.

The majority of the money wagered in both states came in on the favorite Patriots. New England’s win hurt both books, but according to ESPN, the action was ‘more lopsided on the Patriots in New Jersey than in Nevada.’

There were three seven-figure wagers in Nevada on the game. Two of them were on the Rams, which helped the books as well. Nevada also had more wagers on propositions bets and took in more on futures from earlier in the season than New Jersey did.

The drop in Nevada’s handle for the game seemed inevitable after the legalization of sports betting in many other states, but according to some industry experts, they aren’t concerned about the decline.

Jay Kornegay, director for SuperBook USA, told ESPN that most of the decline came from a single high roller who bet $8 million on last year’s game and didn’t put nearly as much on the line this year.

Dominic Mansour, CEO of Bragg Gaming Group, felt that the low-scoring game added to the decline in handle. He told Bloomberg that since the game had so few points, bettors were less interested in placing in-game bets.

“When a game is that boring, it’s bad for the sport-betting sites,” he said.

Since 1991, when Nevada regulators began tracking these numbers, the state’s sportsbooks only had two losing Super Bowls. They lost money when the New York Giants beat the New England Patriots in 2009 and when the San Francisco 49ers defeated the San Diego Chargers in 1995.

Photo Credit: Getty Images