Maybe the house doesn’t always win? Super Bowl LVIII was a good day for the public as it had some notable sports betting wins with Kansas City winning over the San Francisco 49ers. The Chiefs were a 2-point underdog heading into this game with the total closing in on 46.5. The majority of control was with KC and beyond, and the sportsbooks were pretty well placed for most of the game, with the Niners entering halftime with a seven-point lead and just 13 points scored.
However, the Chiefs rallied in the second half to not only earn the victory, but also help surpass the total. The win moved Patrick Mahomes to 11-1-1 ATS as a career underdog.
“We lost in the game itself,” said Jay Kornegay, vice president of the Westgate SuperBook, via the Las Vegas Review-Journal. “It was a big turning point for us with the Chiefs winning. We needed the 49ers to go.”
Added Caesars Vice President of Commercial Craid Mucklow: “The sharps were on the 49ers and the crowd was on the Chiefs. It was a great crowd response to the game.”
Although it was a low-scoring game for much of the evening, things picked up after a muffed punt by the 49ers, which led to the Chiefs’ first touchdown of the game on the next play . That kicked off a five-game streak to end regulation and send the game into overtime. There, a Niners field goal and Chiefs touchdowns helped the total land at 47. There was also a missed extra point from 49ers kicker Jake Moody early in the fourth quarter, which also could have proved costly for punters. Before the Super Bowl, the total hovered around 47.5, but closed at 46.5. Depending on when people made the bet, overtime turned out to be a major change.
According to the Review-Journal, the overtime of the game resulted in a loss of millions of dollars in books. The prop paid out around 9/1 and Caesars lost seven figures just for that.
“We really cringed when we saw it go into an overtime game,” Kornegay said of Westgate’s hit as the game went to overtime. “Overall, the game really went our way. The scores were low, uneventful, and it looked like the 49ers were going to win. Then the game goes to overtime and it’s all downhill from there .
One of the winners for the books was Travis Kelce who didn’t score a touchdown in that Super Bowl. At one point last week (Feb. 6), Caesars Sportsbook noted that there were more bets on Kelce at any point of landing (-105) than bets on the 49ers ML and spread combined.
