Nevada sportsbooks, led by those in glitzy Las Vegas casinos, always win over time. Once in a blue moon, bettors collectively get the upper hand on a single event like the NFL Super Bowl.
The Nevada Gaming Control Board has been tracking the local gambling industry’s Super Bowl results since 1991.
From 1991 to 2025, Super Bowl bettors as a whole have beaten the Nevada sportsbooks twice. As a win-loss record, these sportsbooks are 33-2 against the betting public in Super Bowls since record-keeping began.
Over the past 35 years, Nevada sportsbooks have taken about $3.5 billion in Super Bowl bets, winning roughly $270 million. It’s a lot of money, but a drop in the bucket compared to slot machines.
In 2025, Silver State sportsbooks won a record $22.1 million on the Big Game.
When did bettors actually win on a Super Bowl? Let’s take a look.
Las Vegas Loses on Super Bowl 1995
Sports bettors wagered $69.59 million on Super Bowl XXIX between the San Francisco 49ers (13-3 in the regular season) and the San Diego Chargers (11-5).
Led by future NFL Hall of Famers Steve Young and Jerry Rice, San Francisco won convincingly 49-26. The Niners were massive 18.5-point favorites, and they didn’t disappoint.
The “over/under” on the total points was 53.5, which was easily cleared. Bettors generally prefer the over, with the theory that it’s more fun to root for a high-scoring game.
Nevada sportsbooks as a whole lost roughly $400,000, resulting in a -0.57% hold (the industry’s so-called “win percentage”). It ultimately wasn’t that big of a deal, as the Nevada sportsbooks still won $79.4 million that year.
Las Vegas Loses on Super Bowl 2008
NFL football bettors wagered $92.1 million on Super Bowl XLII between the New England Patriots (16-0) and the New York Giants (10-6).
Led by Eli Manning, New York pulled off the upset 17-14. The Tom Brady-led Patriots were 12-point favorites after a perfect season until the loss. Despite the Patriots’ flawless regular season, the Giants were a popular underdog bet.
The over/under on the total points was 54.5.
Nevada sportsbooks lost $2.57 million for a -2.80% hold. Despite the industry’s disappointing Super Bowl results, the books won $136.44 million from sports bettors that year.
From Amenity to Money Printer
These days, the Super Bowl is a cash cow for the vast U.S. gambling industry. Since 2018, betting has become a ubiquitous mass-market consumer product via mobile apps, which increasingly use artificial intelligence to price markets.
Conventional, house-banked sports betting is legal in 39 states plus Washington, D.C.
Advertising gimmicks like “best bets” for the Big Game help drive new sign-ups. Super Bowl betting ads have also become a feature of the contest. Player props and parlays drive gambling activity.
Before the online sports betting boom, sportsbooks were more of a casino amenity. Sportsbooks mainly were to get people in the door and spend on other forms of gambling and entertainment. The same applied to poker rooms.
In 2024, state-sanctioned sportsbooks in the U.S. won $13.74 billion from bettors, with the vast majority of the revenue coming from online/mobile betting. Half of online bettors report chasing losses.
Online sportsbooks typically report double-digit hold, compared to the single-digit hold that Nevada sportsbooks historically reported. In other words, online sportsbooks win more from players.
Nonetheless, sportsbooks have always been proficient in coming out ahead. Even when Nevada casinos lose on the Super Bowl, the sportsbook industry’s structure makes that loss tiny and exceedingly rare.
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