Total landing under huge winner for sportsbooks in Super Bowl 54

As expected, some "sharp" money came in late on the total of Super Bowl LIV between the Kansas City Chiefs and San Francisco 49ers to the total down to 53 from a high of 55.5, but the sportsbooks still cashed in huge on the total with the Chiefs winning 31-20 because of so much public action on the Over on the NFL odds. 

"The total is really what we were sweating more than anything," Caesars Entertainment sportsbook director Bill Sattler said to the Las Vegas Review-Journal. "It didn't matter who won this year."

When 49ers quarterback Jimmy Garoppolo was picked off on a second-and-10 play from the San Francisco 25 with under a minute left, it was celebration time for the books. Never looked as if Over the total would even be threatened with the 49ers up 20-10 more than midway through the fourth quarter. But then Patrick Mahomes went to work on his way to winning game MVP honors (he was the +110 favorite).

"An incredible comeback delivered big for FanDuel Sportsbook customers," said FanDuel spokesperson Kevin Hennessy. "FanDuel customers won more than $2 million on the game's moneyline and spread markets. Patrick Mahomes scoring a touchdown was the biggest prop bet win for our customers. Plus, the adage 'Tails Never Fails' proved true, delivering $200k in the accounts of FanDuel Sportsbook customers before kickoff."

William Hill director of trading Nick Bogdanovich said more of the same regarding Mahomes scoring the game's first touchdown – he went off at +1400. Mahomes ran in the first TD from 1 yard out with 31 seconds left in the first quarter.

"He was an interesting fellow," Bogdanovich said. "Obviously the most popular player in the NFL so his props were super hot, we got beat up really bad on Mahomes rushing TD, but most of the others we did pretty good. His passing yards went Under so that was good, his passing touchdowns fell too, total was 2.5 so that was good. Rushing yards was the bad beat of the day depending on when you jumped in the market, that will end up on Scott Van Pelt's bad beats for sure."

More on Mahomes from PointsBet director of communications Patrick Eichner:

"Overall a positive result on the game, as we won on the key markets of moneyline (late 49ers action swung that one) and total (public spent two weeks pounding the Over, and sharp Under money didn't get involved until gameday).  Similar story for the MVP, as we actually needed a quarterback to win – the short odds were prohibitive for most casual bettors, so Mahomes (who closed near even money) was ideal."

Mahomes joined Hall of Fame running back Emmitt Smith as the only players to ever win a Super Bowl and MVP before turning 25.

"Prop markets were up and down, which was to be expected," Eichner continued. "Big winners for the public were coin toss (tails never fails, evidently) and Mahomes first TD (at 22-1 odds).  The Mahomes rushing prop was a winner for us, but we refunded all bettors who took the over after the kneel downs destroyed his rushing total.  We also lost on a few sharp props – over 1.5 field goals for the 49ers and under Mostert rushing yards.  One prop we beat the pros on was Kyle Shanahan to wear a hat – sharp steam on the NO pushed that price down to +250 from 10-1 odds initially."

That's not to say everyone was happy with Sunday's result. Noted Houston furniture store owner Jim "Mattress Mack" McIngvale lost a $1 million moneyline bet on the 49ers. Been a rough stretch for McIngvale as he also lost a combined $13 million or so in wagers on his hometown Astros to win the World Series. He used those bets as a hedge for a refund of up to $3,000 he offered to his customers if the Astros won the title. McIngvale did a similar promotion in his stores if the 49ers won.