Thursday, February 05, 2004
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SUPER BOWL HANDLE: Record amount bet on game
Sports books win $12.4 million after $81.2 million wagered
By MATT YOUMANS REVIEW-JOURNAL
One day after New England Patriots quarterback Tom Brady attempted a bizarre dance at his team's Super Bowl parade, the party was continued by Nevada sports book directors.
A record $81.2 million was wagered on Super Bowl XXXVIII, and the state's 152 sports books won a record $12.4 million, according to numbers released Wednesday by the Nevada Gaming Control Board.
Brady led the Patriots to a 32-29 victory over the Carolina Panthers on Sunday. The Patriots closed as 7-point favorites and the total was 38.
The reason for the betting frenzy was a mystery to Station Casinos sports book director Art Manteris.
"This is one I really can't explain. I didn't anticipate a state record," he said. "It just wasn't a marquee matchup. All the logic is now out the window for us trying to predict how the public reacts to a certain matchup."
Tampa Bay's 48-21 victory over Oakland last year drew a handle of $71.7 million, with winnings of $5.2 million for the books.
The previous record for the amount bet on a Super Bowl was $77.2 million in 1998, when Denver beat Green Bay. The books' 15.3 win percentage this year ranks second-best for the past 10 years.
Nevada sports books have won nine consecutive Super Bowls. They showed a loss of $396,674 in 1995, when San Francisco routed San Diego.
"I'm very surprised with the amount wagered," said Frank Streshley, the control board's statistical analyst. "I didn't think it would exceed last year's figure without a West Coast team in the game like the Raiders, 49ers or Broncos."
From talking to several book directors, Streshley said his theory on why the casinos won was that most bettors lost on the total and on proposition bets.
Manteris said the worst result for the books would have been a Carolina victory. New England led 29-22 with four minutes remaining, and a push on the point spread also would have been detrimental for the books.
"In the last five minutes, most books went from winning to losing to disaster to winning," Manteris said. "The books can't complain, that's for sure."
SUPER BOWL BETTING HISTORY
A summary of the performances by Nevada sports books for the past 10 Super Bowls:
Year Wagers Win(Loss) Win Pct. Score
2004 $81,242,191 $12,440,698 15.3 Patriots 32, Panthers 29
2003 $71,693,032 $5,264,963 7.3 Buccaneers 48, Raiders 21
2002 $71,513,304 $2,331,607 3.3 Patriots 20, Rams 17
2001 $67,661,425 $11,002,636 16.3 Ravens 34, Giants 7
2000 $71,046,751 $4,237,978 6.0 Rams 23, Titans 16
1999 $75,986,520 $2,906,601 3.8 Broncos 34, Falcons 19
1998 $77,253,246 $472,033 0.6 Broncos 31, Packers 24
1997 $70,853,211 $2,265,701 3.2 Packers 35, Patriots 21
1996 $70,907,801 $7,126,145 10.1 Cowboys 27, Steelers 17
1995 $69,591,818 ($396,674) (0.6) 49ers 49, Chargers 26
Source: Nevada Gaming Control Board