Super Bowl LVIII was likely a record-breaking event for bookmakers as fans flocked to make bets on a Kansas City Chiefs win over the San Francisco 49ers in overtime.
Some 14,750 betting transactions were taking place every second during the February 11 final at peak times, Jefferies analysts noted on Monday, citing GeoComply data.
This was almost double volumes seen during last year’s Super Bowl, with 1.8 million new users said to have registered for betting accounts prior to the game.
Based on data from the three largest waging states in the US - Nevada, New Jersey and New York - Flutter Entertainment PLC (LSE:FLTR) and Entain PLC (LSE:ENT) both saw the amount placed on bets increase.
Flutter’s app FanDuel enjoyed a 43% jump in handle year-on-year to a record US$307 million, according to Jefferies, with 14 million bets being placed by 2.5 million users
Entain’s BetMGM enjoyed a 30% year-on-year increase in handle meanwhile, though negative gross gaming revenue margins were reportedly recorded.
Margins sat at around 4% for FanDuel and US-based Draftkings Inc (NASDAQ:DKNG), though Jefferies noted the latter had already said the outcome of the match was “unfavourable”.