Forget falling profits and a grim jobless rate. The United States knew for sure it had entered a recession during a football game last February.
How so? Super Bowl wagers in Nevada’s sports books dropped more than 11 percent compared to the previous year. At $81.5 million, the Pittsburgh-Arizona thriller — a 27-23 Steelers victory — marked the lowest handle (money bet on a contest) for the bookies since 2004. The drop in six-figure bets in particular jarred oddsmakers.
As Indianapolis and New Orleans prepare to battle in Super Bowl XLIV in Miami on Feb. 7, sports book chiefs believe the recession won’t sack the house this year.
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