OAN’s James Meyers
11:55 AM – Tuesday, February 6, 2024
Almost 68 million American adults, about 1 in 4, are expected to bet on this year’s Super Bowl, which will break records by a large margin.
The data released Tuesday by the American Gaming Association included bets that would be placed with legal outlets and illegal bookies and other online operations in other countries.
Additionally, the volume of betting participation is projected to increase 35% higher than last year, which was the previous record.
According to the group, bettors plan to wager an estimated $23.1 billion on this year’s Super Bowl, which is up from $16 billion last year.
However, only $1.5 billion is projected to be bet legally. Currently, sports betting is legal in 38 states plus Washington, D.C.
“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.,” said gambling analyst Chris Grove, a partner at Eilers & Krejcik Gaming.
The big game will feature a rematch from four years ago between the Kansas City Chiefs and the San Francisco 49ers.
Meanwhile, the 49ers are favored by 2.5 points, which means they would have to win by 3 or more points for people who take the 49ers to cover the point spread.
Furthermore, the ongoing romance between Chiefs tight end Travis Kelce and star singer Taylor Swift will drive up viewership of the game. Almost 73% of adults say they plan to watch the game this year, which is up 10% from the previous year.
Brian Becker, senior vice president of Tipico Sportsbook, is one of the many gambling industry executives who predict record-breaking betting numbers on this year’s Super Bowl.
“The game-watching experience has become more immersive than ever before,” he said. “As we approach Super Bowl Sunday, we also expect the festivities in Las Vegas to have a ripple effect across the country and entice more fans to place bets than in years past with the microscope of media and advertising on Vegas culture.”
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