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Super Bowl LIX was not only a success for the Philadelphia Eagles. The betting platforms also won.
App activity was high during the game on Sunday, with increased bets and downloads. BetMGM told MarketWatch It was “one of the best single game results in company history” Its biggest ever betting event. Its parent, MGM Grand(MGM), shares ownership with Investopedia.
Online sports betting is having a great year, as the state-by-state comparisons are encouraging. “handle,” Bank of America’s analysis of state statistics shows that bets or money placed on them increased more than 20% from December. More than 16 million wagers were made on FanDuel (FLUT), a game owned by Flutter. This is a 20% increase over last year.
Fans at several different sportsbooks bet heavily on the outcome of a game with a lot of goals, selecting the winner. “over” point-total wager, which was set around 48.5—meaning they bet the total points scored would be above that level—which, at 40-22, it was. But Bank of America analysts said they believe the books benefited from the Eagles victory, as well as both teams' holding key players like the Eagles' Saquon Barkley out of the end zone.
The Athletic reports that 52% of bets at DraftKings (DKNG), the sportsbook owned by DraftKings, were placed on Kansas City winning, either to beat oddsmakers’ expectations or to win more points.
Barkley was a popular pick for the anytime touchdown "prop" bet. Props (which are wagers made on the outcome of a particular game) According to The Athletic, the prop that he would rush for more than 110.5 yards at the end of the game was most bet on BetMGM. (Other bets that proved unsuccessful were whether or not Barkley and Kansas City's Travis Kelce would score touchdowns and if Kelce would propose to Taylor Swift.)
As of Friday, BetMGM has the Eagles as the favorite to win Super Bowl sixty.
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