Millions Wagered on Super Bowl as Futures Odds For The 2023 Big Game Released

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Millions Wagered on Super Bowl as Futures Odds For The 2023 Big Game Released
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A late fourth-quarter touchdown in Sunday’s Super Bowl clinched the NFL title for the favored Los Angeles Rams but cost Mattress Mack $9.5 million.

Jim McIngvale, a Texas furniture salesman known as Mattress Mack, placed two record sports bets — one for $4.5 million and another for $5 million.

He bet on the Cincinnati Bengals to win.

The Rams rallied to beat the Bengals on wide receiver Cooper Kupp’s 1-yard touchdown reception with 1:25 to go in the game. Kupp was named the Super Bowl MVP.

Losing Bet ‘Minuscule’ Compared to Soldiers’ Plight

If Mattress Mack had taken Bengals and the point spread (+4.5), he would have walked away with a profit of $16.2 million.

Instead, he was left with a losing hand but an inspirational outcome.

McIngvale watched the game with about 70 military veterans struggling with PTSD and suicidal tendencies, according to WPRC-TV Channel 2 in Houston.

Watching the Super Bowl with these veterans helped McIngvale put the game into perspective.

“To see these brave, valiant soldiers out there rebuilding their lives, it makes me losing a football game seem very, very minuscule,” he said.

Super Bowl ‘An Exciting Ride’ With Mack, Caesars Says

Before the game began, McIngvale used his Caesars Sportsbook app to place the two record-setting mobile bets in Louisiana. In his home state, Texas, sports betting is illegal. McIngvale has become known for his multimillion-dollar wagers, especially on baseball and football games.

Ken Fuchs of Caesars Sportsbook said the company looks forward to “the next head-to-head with him.”

“This has been another exciting ride with Mack, and it was a thrill for Caesars to be on one side of the largest legal sports bet in history,” Fuchs said in a tweet. “With nearly $10 million down, Mack’s conviction for the Bengals was true to his all-in character.”

Sportsbooks Busy With Large Wagers

McIngvale’s wager was not the only large bet on Sunday.

The NFL’s marquee game, played this year at SoFi Stadium in Inglewood, California, is traditionally the most heavily wagered event in the country.

In addition to McIngvale’s bets, Caesars Sportsbook noted that one unnamed bettor made a $2.1 million moneyline wager on the Rams (-175), resulting in a $1.2 million win for this person.

Other sportsbooks also saw large wagers.

In an unsuccessful DraftKings Sportsbook parlay bet, one person made a $1 million moneyline wager on the Bengals (+170) and took the under on a combined 48 1/2 points scored, according to the Las Vegas Review-Journal.

The Bengals’ loss resulted in the bettor losing the entire parlay wager.

On the BetMGM app, another bettor took the Rams for $550,000, giving up four points, the newspaper reported. Because the Bengals only lost by three, that bet also was unsuccessful.

Legal Sports Betting Explodes From Year to Year

This year’s Super Bowl generated a large increase in betting compared to the previous year.

This weekend, 5.6 million betting accounts accessed legal online sportsbooks, according to GeoComply, a company providing geolocation compliance and fraud-security services. That figure is a 95% increase from last year.

During Super Bowl weekend this year, more than 80.1 million wagering geolocations took place, according to GeoComply. That is 2.26 times more than last year’s Super Bowl weekend.

Bettors Look Ahead to Next Super Bowl

Even with the Winter Olympics and pro and college basketball providing current wagering opportunities, some bettors are already looking ahead to next year’s big game. The 2023 Super Bowl is set to be played at State Farm Stadium in Glendale, Arizona.

According to Caesars Sportsbook, these are the top teams projected to be in contention for next year’s NFL title:

  • Kansas City Chiefs: +650
  • Buffalo Bills: +700
  • Los Angeles Rams: +1000
  • Cincinnati Bengals: +1200
  • San Francisco 49ers: +1400
  • Green Bay Packers: +1500
  • Dallas Cowboys: +1600
  • Tampa Bay Buccaneers: +1800
  • Tennessee Titans: +2000
  • Baltimore Ravens: +2000
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