Super Bowl 59 not only saw the Philadelphia Eagles clinching a spectacular victory over the Kansas City Chiefs with a score of 40-22, but it also set new milestones in the betting world. Both BetMGM Sportsbook and Caesars Sportsbook reported unprecedented betting volumes, making it the most-wagered single sporting event in their histories.

Eagles’ win shifts betting dynamics:

The game began with the Eagles taking a commanding 24-0 lead by halftime, effectively setting the stage for what many hoped would be a dramatic comeback from the Chiefs, which never materialized. This shift led to an influx of wagers at Caesars Sportsbook, particularly with odds heavily favoring a Chiefs’ comeback. “With the Chiefs falling behind early, we observed a substantial handle and wagers increase on their chances of a comeback,” noted Craig Mucklow, Caesars’ vice president of trading, as reported by the Associated Press (AP).

At BetMGM, the betting was slightly more balanced but still in favor of the Eagles, with 60% of the tickets and 56% of the money betting on them to win outright and 54% of the bets and 64% of the handle favoring them to win with a +1 1/2-point underdog margin.

The financial outcome was particularly favorable for Nevada sportsbooks, which reported a record $22.134 million in earnings from the event, surpassing the previous record set in 2014. The total handle in Nevada was $151.618 million, the sixth highest to date, with a hold percentage of 14.6%, marking it as the fifth highest in the state’s history.

Lamarr Mitchell, director of trading at BetMGM Nevada, highlighted the ideal scenario that played out for the house: “The best-case scenario happened for the house: Eagles outright win and Over. And Eagles futures were our second-best scenario, behind the Bills.”

Player performances and prop bet outcomes:

The player prop bets and game parlay bets drew significant attention, with Jalen Hurts leading the bets for Super Bowl MVP at +375 and also securing the second-most tickets. Despite individual performances, the defenses played a crucial role, especially in handling key players like Saquon Barkley and Travis Kelce, whose underperformance resulted in favorable outcomes for the sportsbooks.

Barkley’s rushing total, set at 110.5 yards, fell short at 57 yards, while Kelce’s receiving total was anticipated at 61.5 yards but only reached 39 yards. This played directly into the hands of the sportsbooks, with BetMGM’s Christian Cipollini stating, “Super Bowl bettors cashed in on Eagles money line and Jalen Hurts Super Bowl MVP, but both defenses slowing down Saquon Barkley and Travis Kelce netted a great result for us.”

The success of Super Bowl 59 betting underscores the growing trend in sports gambling, with estimates suggesting that Americans legally wagered over $1.5 billion on the game, marking a 15% increase from the previous year. The results from this event provide a strong start to the year for sportsbooks and set a high standard for future sports betting events.