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Record-Breaking Betting Frenzy Expected for Super Bowl LIX

Super Bowl LIX is poised to make history with a projected record-breaking 68 million American adults planning to bet, driving wager estimates to $23.1 billion. From legal channels to online platforms, explore the diverse betting landscape amidst rising concerns about responsible gambling.
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Branimir Ivanov | Senior News Contributor

Updated: Feb 7, 2024

Record-Breaking Betting Frenzy Expected for Super Bowl LIX

As Super Bowl LIX approaches, the American Gaming Association (AGA) projects a historic level of betting activity, with nearly 68 million American adults—approximately one in four—planning to place wagers on the highly anticipated game. This staggering figure, released by the gambling industry's national trade association, sets a record by a significant margin.

The AGA's data, unveiled on Tuesday, encompasses bets made through legal channels, as well as those placed with illegal bookies and online operations based in other countries. According to the association's findings, betting participation is estimated to surge by 35% compared to last year, hitting an all-time high. Bettors are expected to wager a staggering $23.1 billion on this year’s Super Bowl, a substantial increase from the $16 billion wagered last year.

 

The Key Points

  • Record-breaking participation: Nearly 68 million American adults—1 in 4—set to bet on Super Bowl LIX, surpassing previous records by a wide margin.
  • Skyrocketing wager estimates: Betting projections soar to $23.1 billion, a significant increase from last year's $16 billion, with $1.5 billion expected through legal channels.
  • Diverse betting landscape: Rise in online and casual betting, driven by increased accessibility and evolving technology, while concerns about responsible gambling persist amidst the excitement.

 

Of this staggering amount, approximately $1.5 billion is forecasted to be bet legally, with sources estimating a similar figure of $1.25 billion provided by Irvine, California-based research firm Eilers & Krejcik Gaming.

The legality of sports betting has expanded significantly in recent years, with 38 states along with Washington, D.C., now permitting such activities. Chris Grove, a gambling analyst at Eilers & Krejcik Gaming, expressed confidence that this trend will persist, suggesting that each subsequent Super Bowl over the next decade could set new betting records.

Sunday's showdown will feature the defending champions, the Kansas City Chiefs, against the San Francisco 49ers in a highly anticipated rematch from four years ago. The 49ers are currently favored by 2.5 points, according to odds from FanDuel Sportsbook, the official odds provider for The Associated Press.

Interestingly, the high-profile romance between Chiefs star tight end Travis Kelce and pop sensation Taylor Swift has been cited as a potential driver of interest in this year's Super Bowl. The AGA's survey indicates that approximately 73% of adults plan to watch the game, a notable increase compared to previous years, which analysts attribute to multiple factors, including the captivating matchup, the game's location in Las Vegas, and the growing accessibility of legal sports betting across the U.S.

US Sports Betting

The Wager Expectations

The survey also revealed that the largest group, comprising 42.7 million adults, plans to place wagers online or through retail sportsbooks, marking a 41% increase from last year. Additionally, approximately 36.5 million adults intend to participate in casual betting activities, such as pools or squares contests, reflecting a 32% rise from the previous year.

Despite the excitement surrounding the event, concerns have been raised by groups focused on preventing compulsive gambling. The Council on Compulsive Gambling of NJ has urged bettors to establish limits on their wagering, emphasizing responsible gambling practices, particularly in light of the proliferation of in-game bets.

With the Super Bowl being held in Nevada, it is projected that nearly 13% of legal bets will originate from the state. Other major contributors include New York, New Jersey, Pennsylvania, Illinois, Ohio, and Arizona. Additionally, Eilers & Krejcik Gaming forecasts that 10% to 15% of legal bets will be placed live during the game.

Industry insiders, including Brian Becker, senior vice president of Tipico Sportsbook, anticipate unprecedented levels of betting activity for this year's Super Bowl. Becker noted that the evolving game-watching experience, coupled with the allure of Las Vegas, is likely to attract more fans to engage in betting activities than ever before.

As the countdown to Super Bowl Sunday continues, all eyes are on the potential for this year's game to not only captivate audiences on the field but also to make history in the realm of sports betting.

Moreover, the surge in betting activity reflects a broader trend of increased engagement with sports betting across the United States. Legalization efforts have gained momentum in recent years, driven by both consumer demand and state governments seeking to capitalize on potential tax revenues. This cultural shift has transformed the Super Bowl into not only a sporting event but also a significant economic and social phenomenon, drawing interest from individuals across demographics.

The legalization of sports betting has also paved the way for technological innovations in the industry, with online platforms offering convenient and accessible avenues for placing bets. Mobile betting apps have surged in popularity, allowing users to wager on games from the comfort of their own homes or on the go. This convenience factor has contributed to the record-breaking levels of betting projected for this year's Super Bowl.

Furthermore, the COVID-19 pandemic has played a role in shaping betting trends, with many individuals turning to sports betting as a form of entertainment during periods of lockdown and social distancing. The closure of traditional entertainment venues, such as casinos and live sporting events, has led to a surge in online betting activity, with the Super Bowl serving as a focal point for many enthusiasts.

 

Concluding Thoughts

In addition to traditional forms of betting, such as moneyline bets and point spreads, in-game betting has emerged as a popular option for bettors looking to add excitement to the viewing experience. The ability to place bets on specific outcomes during the game, such as the next team to score or the outcome of a particular play, has contributed to the overall increase in betting activity surrounding the Super Bowl.

Despite the enthusiasm surrounding this year's Super Bowl, concerns have been raised about the potential negative consequences of excessive gambling. Organizations dedicated to preventing problem gambling emphasize the importance of responsible betting practices and encourage individuals to set limits on their wagering activity. Resources for individuals struggling with gambling addiction are readily available, including hotlines and support groups.

As Super Bowl LIX approaches, the stage is set for a historic showdown on the field and in the realm of sports betting. With record-breaking levels of engagement expected, all eyes will be on the outcome of the game and the impact it will have on the ever-evolving landscape of sports betting in the United States.

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