Biggest Bets on Super Bowl LVIII: Bettor Wagers First $1 Million on 49ers vs Chiefs - originally posted on Sportslens.com
With a slew of six and seven-figure wagers already being reported by sportsbooks, we take a look at some of the biggest bets on Super Bowl LVIII so far.
Super Bowl LVII Was the Most Bet on Event in 2023
It should come as no surprise to learn that Super Bowl LVII was the most bet on sporting event in 2023.
According to ESPN, an estimated $16 billion was wagered as the Chiefs prevailed against the Eagles in 2023, with a record 50.4 million people partaking. This figure only reflects regulated online sports betting sites and casinos, so factoring in-person retail bets and offshore sportsbook wagers would boost that total significantly.
2023’s Super Bowl coincided with wide-spread legal sports betting, as sportsbooks sprouted up in states that had previously barred its residents from gambling. This explosion across the US market saw a total of 38 states legalize betting by the end of last season’s NFL campaign, up from 31 at the start of 2022.
Biggest Bets on Super Bowl LVIII
It is no secret that that the Super Bowl is one of the largest gambling phenomenons in the US, and across the world for that matter.
Whether you are a causal NFL fan, or a high-stakes professional gambler, the same profit-chasing principles apply. One particularly gutsy bettor dropped an astonishing $2.2 million wager on the Eagles at -1.5 just three hours before kick off last year, which Caesars Sportsbooks revealed was the single biggest bet on Super Bowl 2023.
Philadelphia famously went into the locker room with a solid 24-14 lead, only to be blown away by this year’s underdog on NFL betting sites – the Chiefs.
Of the reported five $1 million-plus wagers, just two managed to cash in. That of course pales in comparison to the biggest wagers in Super Bowl history, but one can hope we see a bet rival that of Michael Gaughan’s $10 million risk in 1991.
The first report of a seven-figure wager has kickstarted the conversation around the biggest bets on Super Bowl LVIII, with one Michigan player with risk propensity for hefty wagers placed $1 million on the 49ers to win.
That, as far as regulated sportsbooks are concerned, is the largest bet to be placed in the lead up to February 11th’s game so far.
The line has fluctuated and flittered since the 49ers and Chiefs were confirmed, and according to BetMGM’s John Ewing, a $30,000 wager on the Chiefs to retain the Super Bowl shifted Kansas City’s Super Bowl odds from +500 to +380.
This was outdone by another bettor on Caesars who dropped $100,000 at +500 prior to the Chiefs’ AFC Championship triumph over the Ravens. The slight underestimation of Kansas’ ability in the playoffs have seen their odds shorten dramatically since.
In terms of the biggest prop bets on Super Bowl LVIII so far, one Caesars customer is particularly confident that former ‘Mr Irrelevant’ Brock Purdy will be crowned the game’s MVP. So much so, they placed $200,000 at odds of +240.
Top Five Biggest Super Bowl Bets So Far
| Amount | Return | Bet | ||
| $1,000,000 | $830,000 | 49ers Moneyline (-120) | ||
| $200,000 | $480,000 | Brock Purdy MVP (+240 | ||
| $105,000 | $100,000 | 49ers -1 (-105) | ||
| $100,000 | $500,000 | Chiefs to win Super Bowl (+500) |
Figures courtesy of Covers
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