Saturday, February 24, 2024

One in four US adults is expected to bet on the Super Bowl

Nearly 68 million Americans – nearly 1 in 4 adults – are looking to bet on the Super Bowl this year, a new record by a wide margin, according to the gambling industry trade association of country.

According to figures published on Tuesday by the American Gaming Association, bets include those placed by local businesses, as well as by illegal bettors and online operations in other countries.

The number of betting participation is expected to be 35% higher than last year, which is also a new record.

They are looking to wager $23.1 billion on this year’s Super Bowl, up from $16 billion last year, according to the group’s predictions.

In total, 1.5 billion are in legal businesses, the group said, citing consensus estimates from several sources. This figure is the same as the Irvine, California company Eilers & Krejcik Gaming’s expectations of 1.25 billion.

Sports betting is legal in 38 states, plus Washington DC

“There is a strong possibility that every Super Bowl in the next 10 years will be the most bet Super Bowl thanks to the growth of regulated sports betting in the United States,” said analyst Chris Grove, partner at Eilers. & Krejcik Gaming. .

Sunday’s game pits the reigning champion Kansas City Chiefs against the San Francisco 49ers in a rare Super Bowl rematch from four years ago.

The 49ers are 2.5-point favorites, so they must win by three or more points for bets in their favor to be considered a winner. On the other hand, if the Chiefs win, or even if they lose by 2 or less points, bets in favor of Kansas City will be winners. These odds are brought to you by FanDuel Sportsbook.

The relationship between Chiefs tight end Travis Kelce and pop star Taylor Swift probably adds to the interest in the game. About 73% of adults plan to watch the game this year, up 10% from last year.

“I think the Taylor Swift effect will be felt more in terms of the total number of people watching the game and betting, rather than the amount of money being wagered,” Grove said. “But there’s no doubt that bookmakers will see an increase because of Swifties who can bet otherwise.”

Between 10 and 15% of legal bets are placed live, once the game has started, Eilers & Krejcik said.

Brian Becker, vice president of Tipico Sportsbook, is one of the industry executives who predicted a record level of betting.

“The experience of watching a game becomes more immersive,” he warned. “As we approach Sunday’s Super Bowl, we also hope that the festivities in Las Vegas will resonate across the country and invite even more fans to gamble.”

World Nation News Desk
World Nation News Desk
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