Football bettors achieved a rare victory over Nevada sportsbooks in December, as favorites won 76.7% of games outright, marking the highest winning percentage for the month since 2005. This performance ranks as the fourth-highest in the Super Bowl era, with favorites covering the spread in 59% of games, the fifth-best mark within the same period. Consequently, Nevada sportsbooks suffered their first monthly loss on football bets during the NFL regular season in 12 years, amounting to a net loss of $2.1 million.
The once-favorable tide for sportsbooks turned in favor of bettors as the regular season wrapped up. The sportsbooks' net gain from football plummeted from September's record $80.9 million to a modest $15.0 million in December. This significant drop was attributed primarily to the dominance of favorites and the resulting bettor success. Despite this setback, the majority of December's earnings came from basketball bets, highlighting the volatile nature of sports betting outcomes.
Throughout December, upsets were scarce while favorites surged to prominence. This pattern contributed to a turbulent season for Nevada sportsbooks, culminating in a rough December. The outcome was also notable as it represented the 13th losing month on football bets during the regular season in Nevada's history. The largest net loss on football since November 2012 was $5.3 million, underscoring the severity of December's results.
In broader context, Eilers & Krejcik Gaming forecasts that $1.5 billion will be wagered on the upcoming Super Bowl with U.S. sportsbooks, reflecting a 20% increase compared to last year. The Super Bowl continues to be the most significant single-game betting event in the United States, drawing extensive attention and stakes from both bettors and sportsbooks alike.
The ripple effect of this favorable trend for bettors extended beyond December. Flutter, the parent company of U.S. sportsbook FanDuel, adjusted its revenue guidance downward by $390 million due to "unfavorable US sports results" on NFL parlays in January. This adjustment highlights the impact of consistent favorites' wins on sportsbook revenues.
"The 2024/2025 NFL season to date has been the most customer friendly since the launch of online sports betting with the highest rate of favorites winning in nearly 20 years." – Flutter
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