Wednesday, March 2, 2016

Nevada sports books set record handle in Super Bowl

Caesars Palace book two hours before kickoff.
LAS VEGAS -- All indications across Nevada sports books suggest that Sunday’s 24-10 win by the Broncos will set a state record for Super Bowl handle surpassing the $119.4 million handled two years ago when the Seattle hammered Denver.

“We ended up squeaking out a win on the game and the futures win helped us overall,” saidMGM Resorts VP of race and sports Jay Rood. “It wasn’t as bad as last year, but I think a record handle (for Nevada) is probably going to be set.”

Rood's 10 MGM properties across the strip -- two others in Reno -- are a great barometer for the state because of the sheer volume they do with so many thousands of visitors lodging in their rooms and making wagers on the game at their books throughout the last two weeks. Unlike the last couple of years, Rood didn’t take a seven-figure wager on the game, which is very telling on how much volume they did if exceeding the past two seasons.

Last year's handle in Nevada, with New England beating Seattle, was $115.9 million with only a $3.2 million win, which comes out to a tiny 2.8 percent hold. Even though reactions were mixed around town on the results, it would appear that all the books could collectively have a higher win than that, but will come no where close to the record $19.6 million won (16.5%) in 2014 when almost everyone bet the Broncos No.1 ranked offense would beat Seattle.

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