This Week in Gambling: Super Bowl betting not so super for Las Vegas

With the pandemic still raging, this week's gambling news finds Las Vegas casinos did not enjoy their usual rush of visitors this year. That translated to millions of dollars in lost sports bets, not to mention millions more in lost tourism revenue. Despite this, there are signs that Sin City is preparing for the future, with new coronavirus measures and new luxury resorts opening soon.

Our gambling news finds that with the 'big game' now in the books, the normally busy Super Bowl betting in Las Vegas was pretty quiet... yet another victim of the coronavirus. Usually, Super Bowl betting brings somewhere near 300,000 visitors to Sin City and boosts the Nevada economy upwards of $500 million, with $100 million coming from bets placed on the game. But with COVID still forcing closures, occupancy limits, and other restrictions on business, Vegas is struggling at about 50% of normal capacity.

The state of Nevada remains under severe restrictions at 25% of capacity for many public venues. The losses this weekend could be as much as $100 million which would have translated to jobs, wages, and taxes generated to pay for critically important services. Jeremy Aguero of Applied Analysis said “I don’t want to compare Super Bowl weekend necessarily with New Year’s or the sports betting with March Madness, there’s a lot of great weekends in Las Vegas. This is one of them."

"What you are talking about is 300,000 visitors, traditionally that come here and hundreds of millions of dollars in economic impact. All in a single weekend," explained Aguero.



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