Colorado Sportsbooks Enjoy a Super Sunday Super Bowl

Football wagering hit a fever pitch in Colorado with a record-breaking $48.2 million wagered on the NFL’s championship matchup between the Eagles and Chiefs in Super Bowl 59.

Bookmakers Bonanza

According to reports issued by the Colorado Division of Gaming, Super Bowl betting in Colorado did record numbers with a whopping $48,273,381 wagered on the Eagles/Chiefs championship tilt. It was 4% higher than last year’s Super Bowl featuring the 49ers and the Chiefs.

However, the 2x Super Bowl champs came up short in their quest to make history with three consecutive Lombardi trophies. The Eagles were slight underdogs in the game but came out swinging, capturing a 40-22 victory, giving the sportsbooks a healthy bottom line throughout the nation except in Pennsylvania.

Coloradans also set a record for same-day wagering, accounting for 61% of the total amount bet on Super Bowl LIX, which equated to $29,873,713. Those bets would have run the gamut from the side, total, quarters, halftime, and live in-game betting on a litany of proposition wagers.

Digital Takeover

The sportsbooks crushed the public with a win rate percentage, commonly referred to as the hold, of 28.91%, which equaled nearly $14 million, compared to 14.38% in 2024 and 9.62% in 2023. Meanwhile, online Super Bowl wagering dominated the action with $47.3 million, or 98% of the wagers, facilitated through PCs or mobile devices compared to just a little over $1 million at retail sportsbooks.

The preference for digital betting versus retail has been a national trend, as the ease and convenience of betting remotely have caused traffic to drop at in-person sportsbooks and kiosks. As evidence of that, it was revealed that Colorado’s in-person Super Bowl betting decreased for the third consecutive year.

Halfway through Colorado’s fiscal year, sports betting is up nearly 6% with the state’s sportsbook operators accepting $3.2 billion in sports bets over the first six months.

Super Sunday Sizzles for Bookmakers

Although Pennsylvania sportsbooks lost $6.5 million on Super Bowl LIX, due to the hometown Eagles drawing much of the betting dollars from their fans, the rest of the nation’s sports betting operators saw a healthy haul of revenue.

Colorado bookmakers generated nearly $14 million in Super Bowl revenue while other markets had similarly successful results. It was not only the underdog Eagles winning by such a dominating margin, killing Chiefs flat bets and teasers, but also the teams’ star players like Philadelphia’s Saquon Barkley and Kansas City’s Travis Kelce not hitting their expected statistical numbers.

Joey Feazel, Caesars Sportsbook’s head of football, said, “Overall, Super Bowl LIX was a decent result for the sportsbook, as more customers backed the Chiefs in this game and in the futures pool than the Eagles. There were a variety of touchdown scorers, which would usually be favorable to the customers, but unfortunately (for bettors, not sportsbooks), Saquon Barkley was the most popular SGP leg, and he did not see the end zone.”

BetMGM’s Senior Trading Manager, Christian Cipollini, echoed those sentiments by saying, “Super Bowl LIX was the single biggest betting event in the history of BetMGM—it took the most bets and was one of the best single-game results in company history. (…) Super Bowl bettors cashed in on Eagles moneyline and Jalen Hurts’ Super Bowl MVP, but both defenses slowing down Saquon Barkley and Travis Kelce netted a great result for us.”