Huge level of interest
As the popularity level of sports betting in the US continues to climb, the total handle for Super Bowl LVII is expected to be almost double last year’s figure. In a report released Tuesday, the American Gaming Association (AGA) lays out projections for Sunday’s big game between the Kansas City Chiefs and the Philadelphia Eagles.
a 61% year-on-year increase
The AGA estimates that over 50 million Americans will place a wager on Super Bowl LVII, which would be a 61% year-on-year increase.
The total projected betting handle this time around is $16bn. Bettors appear to be divided on who they think will win the big game, with 44% going for the Eagles and 44% going for the Chiefs. Most sportsbooks currently have the Eagles as the slight favorite.
Increasing engagement levels
The AGA report estimates that 30 million adult Americans will place a sports bet either through a bookie or an online or retail sportsbook. About 28 million people plan to make a casual bet with friends or take part in some sort of pool contest. Legal sports betting appears to be increasing interest in NFL games, with 34% of NFL fans saying that games are more exciting thanks to the regulated pastime.
The Super Bowl is the biggest annual sporting event for US sportsbooks, with many of them running lucrative promotions for bettors to encourage them to sign up for a sportsbook account. One of the more exciting promotions sees FanDuel bettors potentially receiving a share of $10m in free bets if former star tight end Rob Gronkowski scores a field goal during a live FanDuel Super Bowl commercial.
Expansion of the legal sports betting sector
Talking about the challenges that the industry faces with continued sports betting expansion, AGA president and CEO Bill Miller said: “….the gaming industry remains committed to responsibly delivering world class entertainment, educating consumers about how to bet responsibly, and combating illegal gambling.”
Legal sports betting markets are up and running in 33 states and in Washington D.C at the moment. Another three states have legalized the activity, but sportsbooks have not yet gone live. About 57% of the US population now lives in a state with a legal sports betting market.