It was one of the most thrilling Super Bowls in recent memories, but for the sportsbooks, it was one they would rather forget. Most operators were saying before the game between the Kansas City Chiefs and the San Francisco 49ers that most of the wagers were on the defending champions.
When the Chiefs came from behind to win 25-22 in overtime, it was a result that they were dreading.
“It was a bad Super Bowl for the sportsbook,” said Tristan Davis, senior trader for BetMGM. “Many bettors had the Chiefs winning and overs on popular player props.”
The scene at Caesars Palace was chaotic when Kansas City scored the winning touchdown in overtime.
“It was a great result for the public, Craig Mucklow, VP of trading at Caesars told VSIN. “I knew we were in trouble when Mahomes got the ball last.”
At BetMGM, 63% of the customers had their wagers on Kansas City. Of the money the sportsbook took, 74% was on the Chiefs.
The public also won the total, though that was more of a sweat because of the overtime. The total opened at most sportsbooks at 47.5, but by gametime the line had moved to 47 at BetMGM. It didn’t matter, though, they placed 60% of the bets on the Over. The Under did receive 55% of the money. It hit by a point, giving the sportsbooks another loss.
Million Dollar Big Bets
Large bets also hurt the establishments. Musician Drake put a $1.15 million bet down on the Chiefs. Circa took a $1 million bet on the Chiefs.
There were some notable prop bets that negatively affected the books. San Francisco QB Brock Purdy Over 11.5 rushing yards (-120), KC tight end Travis Kelce Over 69.5 receiving yards (-135), and 49ers RB Christian McCaffrey (+375) to score the first touchdown were all wagers that hit the books hard.
Just like a defensive back who gets burned on a long pass completion, sportsbook operators have forgotten about Sunday and moved on to next season.
They posted the odds for next year’s Super Bowl on Monday. They aren’t betting on a Kansas City three-peat. San Francisco is the favorite to win, getting +500 odds. The Chiefs are next at +750.
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To Win 2025 Super Bowl
Team Odds
San Francisco 49ers +500
Kansas City Chiefs +700
Baltimore Ravens +850
Buffalo Bills +1200
Detroit Lions +1200
Cincinnati Bengals +1400
Dallas Cowboys +1600
Philadelphia Eagles +1600
Miami Dolphins +2000
Green Bay Packers +2500
Houston Texans +2500
LA Chargers +2500
Jacksonville Jaguars +3000
LA Rams +3000
NY Jets +3000
Minnesota Vikings +4000
Atlanta Falcons +5000
Chicago Bears +5000
Cleveland Browns +5000
Indianapolis Colts +5000
Arizona Cardinals +8000
Las Vegas Raiders +8000
New Orleans Saints +8000
Seattle Seahawks +8000
Tampa Bay Buccaneers +8000
Denver Broncos +10000
Pittsburgh Steelers +10000
NY Giants +15000
Tennessee Titans +15000
Washington Commanders +15000
New England Patriots +20000
Carolina Panthers +25000
Odds Courtesy of BetMGM
The Baltimore Ravens are next at +800. That’s not surprising considering they reached the AFC Championship game. The other team to make the conference championship game was the Detroit Lions. They are tied with the Buffalo Bills at +1200.
