Posted on: January 29, 2021, 11:08h.
Last updated on: January 29, 2021, 01:52h.
An online sportsbook in Nevada last night took a $2.3 million wager on the underdog Tampa Bay Buccaneers upsetting the defending champion Kansas City Chiefs in Super Bowl LV.
BetMGM, the online mobile sports betting platform of MGM Resorts, confirmed being the sportsbook this morning.
? Major Wager Alert ?
The wager would win $2 mil ? pic.twitter.com/Es8JdFXugi
— BetMGM ? (@BetMGM) January 29, 2021
Super Bowl 55 is set to kick off on Sunday, February 7 at 6:30 pm ET. The game is being played in the Bucs’ home stadium.
The Chiefs remain the consensus favorite at around 3.5 points. The over/under is 56.5 points.
Oddsmakers Welcome Bucs Bets
The defending champions have attracted the vast majority of the early Super Bowl action. That’s why BetMGM execs gladly welcomed the massive $2.3 million bet on Tampa Bay.
This was a bet we were very happy to receive,” said Jason Scott, vice president of trading for BetMGM, to ESPN.
“We had previously written several other six-figure bets, all on Kansas City, and the public is certainly behind [Chiefs coach] Andy Reid and [Chiefs QB] Patrick Mahomes,” he continued.
Despite the wager, BetMGM kept its line at 3.5 points in the Chiefs’ favor. If the Bucs pull off the upset, the bettor will net $2 million.
DraftKings and FanDuel said in the 24 hours following the AFC and NFC championship games, around 75 percent of the bets and money was on the Chiefs. Caesars and its sportsbook partner William Hill took a $120,000 bet on Kansas City soon after they made their second consecutive Super Bowl.
2021 Record Super Bowl Betting
Super Bowl 55 will almost certainly be the most legally bet-upon NFL game in the history of the sport. Some 20 states, plus DC, have regulated sports betting operational.
Gaming analysts believe hundreds of millions of dollars will be wagered legally on the big game.
Last year, oddsmakers in Nevada took $154.68 million worth of Super Bowl wagers. They won $18.77 million on the Chiefs’ 31-20 victory over the San Francisco 49ers. The 12.1 percent hold rate was the best Super Bowl win percentage since 2014.
Nationwide, approximately $270 million was wagered through lawful channels on Super Bowl 54. Only 10 states had legal sports betting at this time a year ago.
With the number of legal sports betting states doubled, and much enthusiasm surrounding reigning Super Bowl MVP Patrick Mahomes taking on the GOAT, Tom Brady, the odds are good that handle will approach the $1 billion mark.
Still, illegal offshore sites and underground bookies are expected to take more bets on the Super Bowl than regulated operators.
The American Gaming Association estimated that $6 billion was wagered on the big game last year. If that figure is correct, it means that just four percent of the Super Bowl action was bet through a legal book.