As Bookies Prepare for the Biggest Event of the Year, Super Bowl 54 Promises to be an exciting game.
On Sunday, February 2, the most important betting event of the year takes place. That’s when the AFC winner battles the NFC winner in the 2020 Super Bowl. The yearly NFL Championship game can make or break a sportsbook. It’s so important that some bookie agents rely on the Super Bowl for a big chunk of that year’s profit.
The Super Bowl can ensure a healthy, profitable, year. It can also put a sportsbook in the red. Bookies that end up in the red must scramble the rest of the year to make up for the Super Bowl shortfall.
Not losing money on the Super Bowl is the first goal. How do online bookies do this? They prepare. Big events like the Super Bowl, World Series, NBA Finals, etc. require preparation. Going in blind is the surest way to losing out on max profits.
When it comes to the most important betting event of the year, non-preparation can lead to disaster. The NFL’s Vince Lombardi Trophy game ensures already successful sportsbooks stay on the profit path. It can push new sportsbooks onto the path to profit.
Check out a primer on why the Super Bowl is so important to your sportsbook business. We explain the event’s history from a betting perspective, break down Super Bowl wagering, and explain the tools you need to prepare for the biggest event of the year.
Why the Super Bowl Means So Much to Your Sportsbook
The Super Bowl built modern sports betting. Without the Super Bowl, the industry would have remained in the shadows. This wasn’t by choice. Pete Rozelle, the NFL’s fourth commissioner, had already signed television contracts with the major broadcast networks. In 1967, he worked with NFL owners to create the Super Bowl. Rozelle envisioned the Super Bowl as a must watch event.
It didn’t take long for the Super Bowl to become a must bet event. Check out a few Super Bowl wagering facts. They give you an idea of how important the Super Bowl is to online sportsbooks.
Super Bowl Betting Facts
· In 2004, sports bettors wagered $81.24 million on the Super Bowl
· 2019 Super Bowl Betting Handle in Nevada was $145.94 million
· The American Gaming Association estimated that 23 million Americans would bet on the 2019 Super Bowl
· The AGA estimated that Super Bowl 2019 would have a $6 billion handle
Bettors wagered over $5.845 billion dollars outside Nevada on last year’s Super Bowl. Every online bookie has a chance to profit from the Super Bowl. It’s the one sporting event of the year that both casual and pro players wager.
Now that we know why the Super Bowl is so important to every sportsbook operator, let’s turn our attention to Super Bowl wagering. We must understand different Super Bowl bets to prepare our sportsbooks for the 2020 game.
Understand Super Bowl Wagering
Super Bowl Bet Types: Future Bets, Straight Wagers & Prop Bets
Bookies offer 3 types of Super Bowl bets: Super Bowl Futures, SB straight wagers, and Super Bowl Prop bets. See below for information on all 3. We’ll use the 2018 Super Bowl for our examples.
Super Bowl Futures
Future bets are a specific type of prop wager. Sports bettors place future bets on the outcome of a future event. Put another way, a bettor might decide that she likes the New York Yankees to win the 2020 World Series. The bettor can place a wager on the Yankees at World Series odds before the 2020 Major League Baseball Season starts.
Bookie agents can accept Super Bowl futures the day after that year’s Super Bowl. No kidding. The Super Bowl is such a big deal that Vegas oddsmakers set next year’s Super Bowl odds 1 hour to 2 hours after that year’s game.
In 2017, the Philadelphia Eagles offered +4000 odds before the season started to win the Super Bowl. New England offered +350 odds.
Super Bowl Straight Bets
Super Bowl straight bets are against the spread and over-under total wagers. Oddsmakers set a spread line and an over-under total after Super Bowl teams are set. After Philadelphia beat Minnesota and New England beat Jacksonville, oddsmakers set the following spread betting line on the 2018 Super Bowl:
New England Patriots -4 ½
Philadelphia Eagles +4 ½
The Patriots were favored to beat the Eagles by at least 5 points. The Eagles were underdogs by 4 ½ points. If the Eagles lost by 4 points or less, bets on Philadelphia at +4 ½ won. If the Patriots beat the Eagles by at least 5 points, wagers on the Patriots won.
Oddsmakers also set an over-under total wager on the 2018 Super Bowl.
Over/Under – 48 ½
If the total score was 49 or higher, those who wagered on over the total won. If the total score was 48 or lower, those who wagered under the total won.
The final straight wager on the Super Bowl is the moneyline. Oddsmakers set the following moneyline on the 2018 Super Bowl:
New England Patriots -180
Philadelphia Eagles +160
We calculate moneyline odds based on increments of $100. So if a bettor wagered on the Patriots at -180, they’d have to risk $180 to make $100 in profit. A $100 wager on the Eagles yielded $160 in profit.
The Philadelphia Eagles beat the New England Patriots 44-31. The total was 75. Sports bettors who wagered on the Eagles at +4 ½ won. Those who bet the Eagles moneyline won. Any sports bettor who wagered over the total won.
Super Bowl Prop Wagers
We define prop wagers as bets on something happening or not happening during an event. An example of a Super Bowl prop wager might be how many touchdowns a quarterback throws, or how many yards a wide receiver amasses. Listed are Super Bowl prop bets that never change:
Coin Toss Winner – Who will win the coin toss?
Coin Toss Heads or Tails – Will the coin toss be heads or tails?
Team to Score First – Which team will score first?
First Score a TD – Will the first score be a touchdown?
First Score a Field Goal – Will the first score be a field goal?
First Score Other – Will the first score be something other than a touchdown or field goal?
Bookies also offer individual player props such as how many tackles a star defensive player gets. Sportsbook business owners love Super Bowl prop bets. All prop wagers, no matter the sport, are difficult to win.
Why? Lines on prop wagers give the impression of value. There’s no value in any prop wager, though. Multiple factors determine the outcomes of prop wagers. Check out this example:
Say the 49ers make the Super Bowl. Oddsmaker could set a prop wager on defensive-end star Nick Bosa.
Nick Bosa O/U Sack + Tackles 6 ½
If some want to wager on Bosa to get at least 7 tackles plus sacks, they go over. They go under if they believe Bosa gets 6 sacks and tackles or less. Bosa got 6 tackles and 2 sacks versus Minnesota in a recent game. The over looks like a good wager.
But is it? Anything can happen. Bosa could get hurt on the first play. San Francisco’s Super Bowl opponent might decide to double-team Bosa. They might decide to flow plays opposite of where Bosa plays. Or, they could decide to play Bosa straight, one-on-one.
All sorts of things could lead to a bettor losing their Super Bowl prop wager on Nick Bosa.
Top 5 Things to Prepare for Super Bowl Betting
Check out the Top 4 things you must do to prepare for the biggest sporting event of the year.
Have You Decided on What Super Bowl Prop Wagers to Offer?
Don’t offer all prop wagers. Be selective. Although Super Bowl prop wagers are hard to win, players do win them. Offer enough Super Bowl props to keep your customers playing with you. But don’t go overboard.
Have You Set Max Betting Limits on Super Bowl Prop Wagers?
Set max betting limits on Super Bowl prop wagers. Keep the limit to $100 or less. Nobody should wager $500 or $1,000 on the Super Bowl coin toss. If you get pushback from clients, explain that Super Bowl prop bets are supposed to be fun. Don’t worry, you’ll get plenty of action. 5 Super Bowl prop bets at $100 equal $500.
Can Players Wager?
Make sure players have paid you. The worst thing for bookie agents heading into the Super Bowl is if players owe them money. Ensure players have enough money in their accounts to wager.
Can You Handle Expected Super Bowl Betting Action?
Make sure your sportsbook can handle the action. If you must place max betting limits, do so. Let your biggest players know about the max betting limits.
Market Super Bowl Live Betting
There are two weeks between the NFL Conference Championships and the Super Bowl. During those two weeks, you should market Super Bowl live betting. Tell your customers that they can bet on the Super Bowl while it takes place.
Super Bowl live betting can lead to lots of betting action. The television ratings for the Super Bowl are often the highest of the year for any program. Everybody watches the Super Bowl. Market the fact that your clients can wager on the biggest sporting event of the year at any time during the game.
BossAction Tools to Manage Super Bowl Betting
You need 3 tools to manage Super Bowl betting. You can use other tools. But these 3 tools are necessary. Use the 3 tools one after the other.
1. Set BetAlerts – Use the BetAlert tool to know when a massive Super Bowl wager has hit your sportsbook.
2. Use Override Limits – Once you’re alerted to a massive Super Bowl wager, set an override limit on the Super Bowl. An override limit prevents any wagers from happening. You do this to stop potential steam betting.
3. Use the Layoff Account – Use the layoff account to manage Super Bowl betting risk. Check out an example of how to use the layoff account:
A $1,000 wager comes in on Team A. You received no wagers on Team B. You bet $900 on Team A in your layoff account. If the player wins her wager, you use the $900 you won in your layoff account to pay off the player. If the player loses her wager, you use $900 from her wager to pay the layoff account wager. No matter what happens, you keep the $100 in bookie fees.
Prepare Your BossAction Sportsbook for the 2020 Super Bowl
For bookies, the Super Bowl is the most lucrative event of the year. $6 billion is annually wagered on the Super Bowl. Every bookie agent can profit from Super Bowl betting. The way to ensure profit is to prepare.
BossAction believes that anyone, even non-sports fans, can run a profitable online sportsbook. Become a bookie agent today. Call a BossAction representative at 800-339-4108.