Philadelphia Eagles QB Nick Foles may feel like the luckiest man on the planet after his MVP performance helped the franchise win its first Super Bowl title. On the other side of luck is the Las Vegas sportsbooks. Some sportsbooks reported losses of more than six figures. Unfortunately, this is usually what happens when an underdog like the Eagles wins the NFL’s biggest game.
The New England Patriots entered Sunday evening as a four-point favorite over the Eagles. The line slowly moved towards the five-time Lombardi Trophy winners due to the several large bets placed on Philadelphia. A total of $158.6 million was wagered on Super Bowl 52 at Vegas sportsbooks; over $20 million more than the prior Super Bowl. Overall, sportsbooks reportedly earned only $1.2 million on Sunday. Those same sportsbooks earned nearly $20 million on the big game three years ago.
Vegas took big hits in several different ways over the weekend. The line that favored New England was obviously the biggest reason why sportsbooks came close to losing money. The over/under of 48 points was shattered – a total of 74 points were put up on the scoreboard. Foles had 8-to-1 odds of scoring a touchdown, so when he found the end zone on a trick play, Vegas sportsbooks collectively groaned. The Mirage lost a decent chunk of money on one $2 million bet that was placed on the Eagles. Other sportsbooks like the MGM and the Westgate shared disappointment with the Mirage.
Nevada gaming has only lost money during two Super Bowls since 1991. When the San Francisco 49ers miraculously covered an 18.5-point spread, books lost a total of $396, 674. And when Eli Manning and the New York Giants upset the undefeated Patriots in 2008, Vegas took a loss of more than $2.5 million. This year’s Philly-New England Super Bowl seems to be a bit of an anomaly as of late; sportsbooks have reeled in nearly $50 million in profit thanks to the past four Super Bowl results.
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