A staggering number of American adults, nearly 68 million, representing approximately 1 in 4, are gearing up to place bets on this year’s Super Bowl, marking a record-breaking figure by a substantial margin, according to the national trade association of the gambling industry.
Statistics the American Gaming Association disclosed on Tuesday encompass wagers made through legal channels alongside those placed with illicit bookmakers and online platforms based in other countries. Projections indicate a 35% surge in betting participation compared to last year, which had set the previous record.
Estimates suggest that bettors are poised to stake an approximate $23.1 billion on this year’s Super Bowl, representing a notable increase from the $16 billion recorded last year, as predicted by the association. Around $1.5 billion is anticipated to be wagered through legal channels, based on consensus estimates from various sources.
Super Bowl to Break Records (Credits: Lone Star Live)
This figure closely aligns with the $1.25 billion in legal bets projected by Eilers & Krejcik Gaming, a research firm headquartered in Irvine, California. Legal sports betting is now permitted in 38 states nationwide and Washington, D.C.
Chris Grove, a gambling analyst and partner at Eilers & Krejcik Gaming, remarked, “There’s a good chance that every Super Bowl for the next ten or so years will be the most bet Super Bowl thanks to the underlying growth of regulated sports betting in the U.S.”
This year’s game will showcase the defending Super Bowl champions, the Kansas City Chiefs, against the San Francisco 49ers, marking a rare rematch from four years ago.
The 49ers are favored by 2.5 points, indicating that they must secure a victory by a margin of 3 points or more for bets to be deemed winners. Conversely, bets on Kansas City would prevail if the Chiefs emerge victorious or lose by no more than 2 points.
The brewing excitement surrounding the Super Bowl, fueled by the budding romance between Chiefs star tight end Travis Kelce and pop sensation Taylor Swift, may contribute to heightened interest in this year’s event.
A significant proportion of adults, approximately 73%, have expressed intentions to tune in to the game this year, marking a 10% increase compared to recent years.
Cait DeBaun, a vice president at the American Gaming Association, suggested that Swift’s influence could be one of several factors driving increased betting activity, alongside the compelling matchup, the game’s venue in Las Vegas, the epicenter of betting in the nation, and the expanding availability of legal sports betting across the U.S.
The survey conducted by the association revealed that the largest group, comprising 42.7 million adults, plans to place bets online, legally or illegally, at retail sportsbooks or with illicit bookmakers, reflecting a 41% surge from last year.
Additionally, about 36.5 million adults intend to engage in casual betting with friends or participate in pools or squares contests, a 32% increase from last year.
Bettors appear evenly divided on the game’s outcome, with 47% planning to bet on the Kansas City Chiefs and 44% on the San Francisco 49ers, according to the association’s survey conducted from Jan. 30 to Feb. 1 of a national sample of 2,204 adults, with a margin of error of plus or minus two percentage points.
Eilers & Krejcik Gaming predicts that nearly 13% of the money wagered through legal sportsbooks will originate from Nevada, where the game will be hosted, followed by New York, New Jersey, Pennsylvania, Illinois, Ohio, and Arizona, with other states accounting for smaller percentages individually.
The company also anticipates that approximately 10% to 15% of legal bets will be placed live after the game has commenced. Brian Becker, senior vice president of Tipico Sportsbook, echoed the sentiments of many gambling industry executives, projecting record-breaking betting levels for this year’s Super Bowl.
He emphasized, “The game-watching experience has become more immersive than ever before,” and predicted that the festivities in Las Vegas would inspire more fans across the country to place bets, with heightened media and advertising attention on Vegas culture.
