The Big Winners in the Super Bowl? Vegas Sportsbooks!

The Big Winners in the Super Bowl? Vegas Sportsbooks!

18 Feb 2014 | 10:18 Author: Seth Shafer

The Seahawks were the bigger winners on the field in the Super Bowl but it was Las Vegas sportsbooks that really hit the jackpot in Super Bowl betting.

Despite opening as a slight underdog the Broncos were a huge public favorite for the Super Bowl, with a big chunk in the estimated $120 million in legal Super Bowl bets going Denver's way.

Sportsbooks sometimes will balance their exposure by evening out the wagers they have on the books but in this case many let it ride and didn't hedge their exposure -- a smart bet when the Seahwaks handily won.

Final tallies show that Vegas sportsbooks likely won nearly $20 million in profits from the latest round of Super Bowl betting, one of the most profitable hauls they've had. It was by far the most bet on any Super Bowl, easily eclipsing last year's record of about $99 million wagered on the contest between the 49ers and the Ravens.

The house typically has the best of it in Super Bowl wagering, with the last significant loss for sportsbooks coming in 2008 when a Giants upset of the Patriots led to an estimated $2.8 million loss for sportsbooks.

One area where bookies took a few hits on the chin came from prop bets, with this year's Super Bowl featuring both a safety -- which paid off as high as 60-1 if a gambler bet a safety would be the first score of the game -- and a two point conversion.

One gambler who didn't lose a bundle on the Super Bowl was apparently Floyd Mayweather, who took to Twitter to dispell a rumor that he'd bet $10 million on the Broncos:

"Somebody lied to you all. If I was going to bet, I would have bet on the Seattle Seahawks...."

Just to make sure all his fans got the message, Mayweather hit up Instagram as well to make sure that everyone know the only thing he'd bet $10 million on "...is MYSELF"

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