Seahawks defeat Patriots 29-13 in Super Bowl LX, as betting hits 10-year low
The Seattle Seahawks secured a decisive victory over the New England Patriots, winning Super Bowl LX by a score of 29-13, amidst a backdrop of declining betting activity.
Why it matters: This year's Super Bowl saw a notable drop in betting volume, reflecting changing dynamics in the sports wagering landscape.
- Approximately $133.8 million was wagered on Super Bowl LX, marking a 10-year low and continuing a trend of decreased betting for two consecutive years.
- This decline in wagers can be partially attributed to increased competition from legal sports betting in various states across the country.
What’s new: The game not only highlighted the Seahawks' impressive performance but also underscored challenges faced by sportsbooks.
- Nevada sportsbooks reported a net win of $9.9 million, which is significantly lower than the previous year's record of $22.1 million, representing a 55% decrease.
- With hotel room rates dipping in Las Vegas leading up to the event, the atmosphere felt "quieter" than in past Super Bowl weeks.
Yes, but: Despite the Seahawks' success, one of the game's anticipated stars, receiver Jaxon Smith-Njigba, failed to meet expectations.
- He received significant backing in prop bets but ultimately did not score a touchdown during the game, highlighting the unpredictable nature of player performances in high-stakes matchups.
By the numbers: The betting landscape has evolved dramatically over the past decade.
- At Kalshi, over $1 billion was traded on the Super Bowl, with $475 million focused on various props including player performance and game outcomes.
- Notably, $113 million was wagered on the first song performed by Bad Bunny during halftime, illustrating the broad scope of interest that extends beyond traditional game outcomes.
Between the lines: John Murray, a prominent figure in the sportsbook industry, remarked on the matchup's lack of star power, suggesting this could have contributed to reduced betting enthusiasm.
- "You can legally bet on sports all over the country now," he noted, indicating that while accessibility has increased, the draw of marquee matchups remains critical for generating robust betting activity.
The bottom line: As the NFL continues to expand its reach and integrate sports betting into its fabric, events like Super Bowl LX will serve as bellwethers for trends in fan engagement and wagering behavior moving forward.
