Not only did the Giants cover the spread, they won the game outright, meaning a disaster for sportsbooks that had to payout moneyline bets on New York at nearly 10-to-1 as well. For this game the public did something it rarely does – it bet overwhelmingly on the underdog. The New England Patriots were 14-point favorites against the New York Giants. The 2008 Super Bowl played out much differently. The Niners covered and the total went well over the 53.5 mark (San Fran won 49-26, a 23-point victory with 75 points scored). In 1995, the San Francisco 49ers were the biggest favorites in Super Bowl history (18 points), but that didn’t detract bettors from loading up on the obviously better team, as well as the over. There have been just two cases since 1991 when books have produced a net loss on the Super Bowl (19).
A big reason why is that square bettors (those that don’t usually bet) are attracted to the big game and they are prone to making high-risk bets like parlays and props that are unlikely to win.
Sports books have made out extremely well when it comes to the Super Bowl.
