# Super Bowl LIX: A Deep Dive into the Impact on Sports Betting Stocks
The Super Bowl LIX may have been a thrilling game for fans of the Philadelphia Eagles and those who won big bets, but it had a significant impact on the sports betting industry as a whole. Let’s break down the numbers, the winners, and the losers in the aftermath of the big game.
## The Surge in Sports Betting
– A staggering $1.5 billion was wagered on the Super Bowl, exceeding pre-game estimates.
– This marked a new record, surpassing the $1.25 billion wagered on the Super Bowl in 2024.
– The growing popularity of sports betting in the U.S. is evident with 38 states now allowing some form of legalized sports wagering.
## The Unfavorable Outcome for Sports Books
### The Game Results
– The Eagles emerged victorious with a 40-22 win over the Chiefs, defying the odds as 1.5-point underdogs.
– Most bets were on the Eagles to win outright on the moneyline, as well as on the total score to go over the set line of 48.5.
### Impact on Sports Books
– The outcome was less than favorable for sports books, as most bets went against them.
– A Chiefs win with the score staying under would have been the ideal scenario for sports books.
– Despite the losses, the volume of bets and exposure on the biggest betting day of the year balanced out the impact.
### Prop Bets
– Sports books fared better on prop bets, especially those involving players like Saquon Barkley and Travis Kelce.
## Winning and Losing Stocks
### Winning Stocks
– DraftKings stock saw a rise of 1.4% to nearly $43 per share post-Super Bowl.
– Wall Street analyst Needham increased DraftKings’ price target to $60 per share, citing fair valuation and successful promotional strategies.
### Mixed Performances
– Flutter Entertainment stock was down 0.5% after an initial increase, while Penn Entertainment saw a 2% rise.
– MGM and Caesars, more focused on casinos, experienced stock drops post-Super Bowl.
### Earnings Reports
– Keep an eye on MGM and DraftKings as they report earnings this week, with MGM on Wednesday and DraftKings on Thursday.
In conclusion, the Super Bowl LIX had a profound impact on the sports betting industry, with some stocks surging while others faltered. Understanding these dynamics and the market trends can provide valuable insights for investors in the ever-evolving world of sports betting. Stay informed, stay ahead.