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The Super Bowl victory of the Kansas City Chiefs made Sunday a profitable night for sportsbooks.
In an exhilarating match, the team that was expected to lose by 1.5 points emerged victorious with a 38-35 win against the Philadelphia Eagles.
The majority of the bets across the nation favored the Eagles as the top choice.
The funds were fairly distributed between the two teams at the Michigan sportsbooks.
Michigan bettors hit on the over, split on Super Bowl winner
The Eagles were favored by most bettors in Michigan, yet the handle told a different tale.
According to DraftKings Sportsbook MI, the Eagles were favored by 69.8% of Michigan’s wagers. Nonetheless, the Chiefs received 54.8% of the total handle.
BetMGM Michigan saw 62% of the tickets placed on the Eagles with the point spread, yet the handle was evenly split 50-50 between the two teams.
Michigan sportsbooks experienced a setback on Sunday due to the over. The majority of bets placed at BetMGM (74%) and DraftKings (68%) were on the over.
Chiefs win good for sportsbooks nationally
Sportsbooks across the nation celebrated the Chiefs’ victory as the optimal result.
The Chiefs’ victory proved to be advantageous for the sportsbooks, as they anticipated over $1.1 billion in legal wagers for the Super Bowl.
“Prior to the Super Bowl, Seamus Magee, BetMGM Sports Trader, expressed that the Chiefs’ victory in the Super Bowl is exactly what BetMGM requires.”
Asked and answered.
Nationwide, BetMGM received 67% of wagers and 68% of the total amount bet on the Eagles to cover.
The Eagles received a significant number of the largest wagers placed at BetMGM.
- To secure a $1 million profit, one needs to place a $1.25 million bet on the Eagles moneyline (-125).
- To have a chance to win $800,000, one would need to wager $1 million on the Eagles moneyline (-125).
- To win $90,909, you must place a bet of $100,000 on the Eagles spread (-1.5).
- Placing a bet of $50,000 on the Eagles spread (-1.5) can result in a potential win of $45,454.
Across the nation, the over remained a popular choice among bettors, with BetMGM leading the way by accounting for 68% of the total handle for Sunday’s game.
Big betting day at BetMGM Sports Lounge
The fact that retail sportsbooks witnessed a considerable amount of activity during the Super Bowl is not entirely unexpected.
According to reports, the BetMGM Sports Lounge at the MGM Grand Detroit recorded a handle of over $800,000 on the game. Specifically, it is now disclosed that approximately $700,000 was bet on the Super Bowl on Sunday.
The Super Bowl saw the following top five bets placed at the BetMGM Sports Lounge:
- I bet $60,000 on the Eagles with a spread of -1.5 points.
- I bet $55,000 on the Eagles to win with a 1.5 point spread.
- I bet $50,000 on the Eagles to win by a margin of 1.5 points.
- Betting $35,000 on the Chiefs to win during the first half.
- The bet placed on the Chiefs +1.5 resulted in a win of $66,818.20 from an initial wager of $35,000.
What were the most popular Super Bowl prop bets in Michigan?
Super Bowl LVII created a divide among Michigan residents regarding their favorite prop bets.
DraftKings Sportsbook MI revealed that the non-TD prop odds which garnered the highest wagering activity in the state were as follows:
- Travis Kelce fell just short of surpassing 6.5 receptions, ending the game with a total of 6.
- Quez Watkins, who was predicted to have less than 1.5 receptions, ended up with a total of 1.
- Patrick Mahomes fell short of the over 38.5 passing attempts, as he finished with 27.
- Dallas Goedert surpassed the mark of 45.5 receiving yards, ending the game with a total of 60 yards.
- Patrick Mahomes failed to reach over 290.5 passing yards as he finished the game with 182.
Across the country, Travis Kelce emerged as the prop bet favorite on BetMGM, garnering immense popularity.
The most popular prop wagers were for Kelce to be the first touchdown scorer (+650) and to score an anytime TD (-125). Although Kelce did find the end zone during the game, he did not score the first touchdown.
