The 60th edition of the Super Bowl, featuring the Seattle Seahawks facing off against the New England Patriots, became a focal point not only for fans but also for a significant surge in betting activity across various platforms. Bank of America analysts have identified Kalshi, a prediction market company, as one of the primary winners of the event in terms of betting volume and user engagement, while expressing concerns regarding sportsbooks’ exposure due to the Seahawks’ unexpected dominance.
Kalshi, despite being constrained by the National Football League’s advertising restrictions that prevented it from running commercials during the Super Bowl, nonetheless attracted substantial betting interest. According to Bank of America’s estimates, Kalshi’s platform processed approximately $871 million in bet volume on game day, with around $650 million specifically wagered on Super Bowl-related markets. This betting surge was reflected in the app’s performance, which achieved the distinction of ranking second in user engagement on the night of the game.
The analysts also noted that Kalshi and its competitor Polymarket offered higher payout rates on bets related to the Seahawks’ victory compared to those available through conventional online sportsbooks. This factor may have attracted bettors seeking more favorable returns. However, the increased volume did present operational challenges for Kalshi, such as delays in processing payments, an issue carefully observed by the Bank of America team.
To enhance the betting experience during the game, Kalshi introduced new features including a real-time play-by-play feed launched Sunday morning and live statistical updates tailored to the Super Bowl context. These tools likely contributed to fostering continuous bettor engagement and expanding the platform’s appeal amidst intense competition.
On the other side of the market, the Seahawks secured a commanding 29-13 victory, comfortably covering the -4.5 point spread favored by most sportsbooks. This outcome garnered heavy betting activity favoring the Seahawks, creating an unusual situation where sportsbooks may have been overexposed to the winning side. The implication, according to Bank of America, is that some bookmakers might have preferred a New England upset to balance their risk portfolios.
DraftKings Inc. (NASDAQ: DKNG) stood out as a major sportsbook participant, with its app ranking fifth in usage on game night, signaling a possible leadership position in overall sports betting volume. The company’s Boston headquarters geographically aligns with the Patriots’ fan base, and Bank of America’s analysis suggests a more balanced distribution of wagers between the Seahawks and the Patriots on DraftKings’ platform. This balanced betting split could mitigate DraftKings’ risk and position it as a potential beneficiary of the game’s betting dynamics.
Other sportsbooks reported heavier concentrations of bets on the Seahawks outcome. For example, BetMGM, a joint venture between Entain and MGM Resorts International (NYSE: MGM), saw approximately 60% of its wagers backing the Seattle team, which may have increased its risk exposure given the decisive Seahawks win.
The analysis also highlighted how prop bets, particularly on rushing and receiving statistics, largely paid off for bettors, whereas many wagers on anytime touchdown scorers did not materialize. This mixed result among prop bets may have balanced overall sportsbook liabilities.
From a broader perspective, the American Gaming Association reported that total legal sportsbook wagering for Super Bowl LX reached an estimated $1.76 billion, reflecting the immense scale and economic impact of the event within regulated betting markets.
This comprehensive view of Super Bowl LX betting trends underscores some shifting dynamics in how bettors interact with different platforms. Kalshi’s rapid ascension in betting volume and engagement demonstrates the growing prominence of prediction market companies even without direct NFL advertising. At the same time, traditional sportsbooks are reminded of the volatility inherent in large-scale sporting events and the importance of managing risk exposure effectively across diverse betting markets.