High Volume, Low Profits for Online Sportsbooks after Super Bowl 50

POSTED IN Las Vegas Sportsbooks + NFL Football + Super Bowl Betting | no comments

With all of the hype that surrounds the Super Bowl each year, it is no surprise that the amount of people placing bets at online sportsbooks was high, but the outcome of the title match is what left their bottom lines not as full as in previous years. The Carolina Panthers were the favorites to win, had a healthy 6-point spread that they had been crushing all season long, and had an amazing team, but all of that came crashing down around Cam Newton. They lost 24-10 against the Broncos in a pretty big upset. The Denver Broncos, the underdogs, came out on top in many different aspects, as they took their third franchise Super Bowl title, and it is all thanks to Peyton Manning and the great effort the team made. This isn’t the only aspect that left the books with less profits, as there was also:

• Denver LB Von Miller won MVP, which opened at 40:1, but quickly went down to 15:1, so there were a lot of happy people.
• Whether there would be a two-point conversion, and 96% of the bets were on a positive outcome. It all came crashing down when Manning threw a pass to Bennie Fowler for a complete pass and a two-points.

Even the fact that the Broncos beat the Panthers by such a wide margin hurt the sportsbooks bottom line. If the game had ended with a closer score, they could have salvaged a lot more. However, don’t get the wrong idea, they still made a profit, so they didn’t lose any money on this year’s Bowl. It seems they may be getting around a hold of 7%, which could be around $7 million or more. It isn’t as good as previous years, where they profited almost $20 million, but no one is complaining, as business was booming. Sportsbooks had never seen so many patrons betting on the Super Bowl, which makes them happy as well.