With just hours to go before kickoff, a slew of studies and surveys have highlighted the massive scale of Super Bowl betting.
H2 Gambling Capital, a global specialist in gambling market data, released a report last week projecting a record $1.6 billion in wagers from onshore licensed sportsbooks in the U.S., with New York expected to surpass Nevada in handle ($181 million compared to Nevada’s $177 million).
AGA: $1.39B in Legal Super Bowl Betting
The American Gaming Association (AGA) estimates that Americans will legally wager a record $1.39 billion on Super Bowl LIX.
From BetMGM this morning: “As Super Bowl bets continue to pour in, BetMGM still needs the Eagles,” said Christian Cipollini, Senior Trading Manager at BetMGM. “We’re also cheering for a red/pink Gatorade bath, Saquon to stay out of the endzone, and the defenses to shine for the Under.”
Campaign for Fairer Gambling (CFG) Report
With the excitement surrounding the big game, the Campaign for Fairer Gambling (CFG) has also taken the opportunity to disseminate its key messages. CFG is an independent advocacy group that promotes consumer protection and aims to mitigate gambling-related harm.
In a statement released Friday, CFG announced that they commissioned Yield Sec, a technical intelligence platform, to produce an estimates report on Super Bowl online betting, highlighting the dominance of illegal betting on the game.
Yield Sec: 75% of Wagers Going to Illegal Operators
Yield Sec estimates that Americans will place $6.4 billion in total online wagers, with three-quarters (75%, or $4.8 billion) going to illegal online sports betting operators. In contrast, $1.6 billion is expected to be wagered through legal, licensed U.S. sports betting operators. Yield Sec projects a total of 429 million bets on the game.
“As an evidence-based gambling reform advocate, I want to understand the truth about the entire online gambling market,” said Derek Webb, Founder of the Campaign for Fairer Gambling. “Yield Sec has an exceptional ability to estimate the total market, including legal and illegal participation. This report shows that the illegal industry continues to grow and that legalization proponents are misrepresenting the benefits of legalization. The American economy and American consumers are paying the price.”
Illegal operators have an edge by offering novelty bets, attracting bettors outside of the hardcore sports crowd. U.S. sportsbooks cannot offer such bets. In Ontario, for instance, there are popular markets around Taylor Swift, including “Will Travis Kelce propose to Taylor Swift?” with odds of +800 for “yes” (getting 78% of tickets) and -2000 for “no” (22% of tickets, 58% of handle) at BetMGM in Ontario.
Super Bowl Betting Data from Last Year
According to CFG, quoting Yield Sec, there were 350 million total bets placed on last year’s Super Bowl, amounting to $5.4 billion in total value. Out of that, 122 million wagers, or $1.4 billion, were legal.
Yield Sec estimates that 25% of females will bet on this year’s game, up from 21% last year.
“Last year, Yield Sec predicted Americans would place $5.4 billion in online bets on the big game, of which just $1.4 billion would be bet legally,” Yield Sec CEO Ismail Vali said in a statement. “We were right. And, if we are right on the legal number, then we are right on the illegal number. The Yield Sec platform uses an apples-to-apples methodology for looking across all of the audience, all of their activity, all of the time.”
While the outcome of the tight game between the Eagles and Chiefs is uncertain, one thing is clear: America’s growing appetite for wagering on the result.
