New Yorkers are very sharp when it comes to accomplishing books.
BetMGM sportsbook lost a lot of money on the 2024 Super Bowl, betting a total of $10.8 million and losing $4.8 million, according to the New York Gaming Commission. announced in a statement Thursday.
BetMGM’s strange result is that the “King of Sportsbooks” has the most losses of any Empire State sportsbook, with a winning percentage of 44.31%, double that of the next highest sportsbook (Caesars’ 8.3%) That’s why it’s important.
But New York bettors didn’t come out on top overall, as the sportsbook still made $12.5 million in net profit, half of which was donated to the state. The state collected about $6.4 million in taxes on sports betting last year.
The incredible success of bettors at BetMGM can be largely attributed to the game going into overtime (+800) and the crowd-favorite Chiefs winning outright.
“We’ve made multiple six-figure bets on the 49ers, and the Chiefs will win and try to cover the spread in the Super Bowl,” BetMGM senior trader Tristan Davis said before the big game. Biased actions continue.” “A 49ers win would be a good result for sportsbooks.”
The game, which went into overtime, was +900 at BetMGM, which held 95% of the money. Among New York bettors who jumped on this prop, the liability increased even further.
Get an overview of the best US sports betting sites and apps
“Not enough talk about BetMGM’s New York Super Bowl numbers,” X user @capjack2000 said in a post. “It’s really hard to make this many types of bets on such a big event and lose this much money. I lost $4.8 million on a $10.8 million bet.”
New Yorkers may be venturing into the world of betting after all. However, it will be hard to beat DraftKings, which made a profit of $8,826,191 on over $52 million in bets.
