A Record-Breaking Super Bowl for Sportsbooks and Fans Alike

The 2024 Super Bowl was not just a thrilling matchup between the Philadelphia Eagles and the Kansas City Chiefs; it also marked a historic moment for sportsbooks. The Eagles’ dominant 40-22 victory over the two-time defending champions was the most-bet single sporting event in the history of both BetMGM Sportsbook and Caesars Sportsbook. This game shattered records, attracting unprecedented wagering activity and showcasing the growing popularity of sports betting in the U.S. The lopsided nature of the game, with the Eagles taking a commanding 24-0 lead by halftime, didn’t deter bettors, as many seized the opportunity to wager on a potential Kansas City comeback.

Betting Trends: Eagles Dominate, Over Bets Pay Off

The Super Bowl also revealed interesting trends in how fans placed their bets. At BetMGM, 60% of the tickets and 56% of the money wagered were on the Eagles to win outright at +100 odds on the money line. Additionally, 54% of the bets and 64% of the handle were on Philadelphia to cover the spread as a +1.5-point underdog. These numbers highlight the confidence bettors had in the Eagles’ ability to secure victory. Meanwhile, the over/under total of 48.5 points also drew significant attention, with 61% of the tickets and 57% of the money favoring the over. As the game ended with a combined 62 points, those who bet on the over were rewarded with a winning outcome.

Jalen Hurts Shines on the Field and in Betting Markets

Jalen Hurts, the Eagles’ star quarterback, was the standout performer of the game, leading his team to a decisive victory. He threw for 221 yards, rushed for 72 yards, and scored three touchdowns, including a memorable "tush push" TD. Hurts’ impressive performance not only earned him the Super Bowl MVP award but also made him a favorite among bettors. At BetMGM, he had the most money bet on him to win MVP at +375 odds and was the second-most popular choice in terms of ticket count. His dominance on the field directly translated to success for those who wagered on him.

Defenses Deliver for Sportsbooks: Barkley and Kelce Fall Short

While the Eagles’ offense and Jalen Hurts stole the show, the defensive performances also played a crucial role in shaping the betting outcomes. Saquon Barkley, the Eagles’ star running back, was held to just 57 rushing yards, far below his projected total of 110.5 yards. Similarly, Travis Kelce, the Chiefs’ elite tight end, finished with only 39 receiving yards, well under his expected total of 61.5 yards. These underwhelming performances were significant for sportsbooks, as they contributed to a favorable outcome for operators. Christian Cipollini, senior trading manager at BetMGM, noted that the defenses’ ability to contain these key players was a major factor in the positive results for the sportsbooks.

A New Era of Super Bowl Betting: Parlays Take Center Stage

The 2024 Super Bowl also marked a shift in betting behavior, with Caesars Sportsbook reporting that more game parlays were wagered than traditional straight bets for the first time in Super Bowl history. A parlay bet involves combining multiple wagers into a single bet, offering higher payouts but lower probabilities of winning. This trend reflects the increasing sophistication and creativity of bettors, who are now exploring more complex and nuanced ways to engage with sports betting. The rise of parlays also underscores the growing appeal of sports betting as a form of entertainment, as fans seek new ways to enhance their viewing experience.

The Bigger Picture: Super Bowl Betting Continues to Soar

The record-breaking numbers from this year’s Super Bowl highlight the continued growth of the sports betting industry. With legal sports betting now available in nearly two dozen states, the market is expanding rapidly, and major events like the Super Bowl are driving unprecedented engagement. Sportsbooks are leveraging advanced technology and innovative betting options to attract both casual and seasoned bettors, creating a dynamic and competitive landscape. As the industry evolves, events like the Super Bowl will remain at the forefront of this revolution, offering fans exciting ways to connect with their favorite sports while generatingsignificant revenue for operators. This year’s game was not only a victory for the Eagles but also a triumph for sportsbooks and the millions of fans who wagered on the big game.