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50 million Americans to Spend $16B Betting on the Super Bowl LVII
By Jeff Osienya Feb 09, 2023 IndustryThe American Gaming Association (AGA) has published a new report projecting that over 50 million Americans will wager a combined $16 billion on the upcoming Super Bowl LVI. Here’s a deeper dive into the facts and figures of the survey.According to data collected by the American Gaming Association (AGA) in their latest survey, about 50.4 million American adults are projected to place a bet on the upcoming Super Bowl LVII. This is a whopping 20% of the American population and more than double the number of Americans projected to wager on last year’s big game. This year’s culmination of the NFL season will be between Kansas City Chiefs and Philadelphia Eagles, on Monday, February 13th, at the State Farm Stadium in Glendale, Arizona – home of the Cardinals NFL team.
In addition, based on the findings of AGA’s survey, the said American bettors are expected to spend an estimated $16 billion on wagers on the highly anticipated showdown. The volume of expected wagers for this year’s Super Bowl skirmish is 61% higher than the activity initially projected for 2022’s Rams vs. Bengals matchup.
AGA hired Morning Consult to carry out the survey, which took place between January 31st to February 1st, 2023, and the sample size comprises of 2,199 adults. The data collected was weighted to reflect a target sample of American adults based on gender, race/ethnicity, age, region, and educational level. In addition, the AGA’s estimates in the survey include wagers placed at illegal bookies or casual bets amongst relatives or friends.
More Americans are Rooting for the Eagles to Win
The Eagles-Chiefs championship has proven that bettors are equally split on the game’s outcome, as 44% of bettors are planning on wagering on either of the teams. Nonetheless, based on information provided by FanDuel, the Eagles are 1.5-point favorites among bettors.
Besides the winner/loser and point-based odds for the teams, there is a wide range of outcomes on the Monday game that bettors can put their money on for the big game. Players can also place prop bets based on the performance of a particular player. For example, the number of rushing yards Miles Sanders will get or if A.J. Brown will be the best wide receiver in the championship event.
Other bets include something unusual like if the opening coin toss lands on either heads or tails or what color of Gatorade will be poured on the winning coach. On the crazier side of betting, sports fans can also wager on the appearance of a streaker at some point in the Chiefs-Eagles clash.
Increased Interest in Legal Sports Betting
Three more states, Ohio, Massachusetts, and Kansas, are now offering sports betting this year, pushing the number of US jurisdictions offering sports betting to 33. Maryland and Washington DC added mobile sports betting to their legal gaming slate, but they already had in-person betting during the 2022 Super Bowl. It means about 57%, equivalent to 146 million American adults, live in a state with a legal sports wagering market.
As more states legalized sports betting within their jurisdiction within the last year, traditional Super Bowl bets are projected to exceed casual bets for the first time. According to the AGA survey, about 30 million American adults are estimated to wager at an in-person sportsbook, with a bookie, or online, reflecting a 66% increase compared to 2022. On the other hand, around 28 million American adults are expected to bet as part of a squares contest or a pool or casually with family or friends, a 50% increase from last year. AGA President and chief executive Bill Miller noted that:
Quote“Every year, the Super Bowl serves to highlight the benefits of legal sports betting: bettors are transitioning to the protections of the regulated market, leagues and sports media are seeing increased engagement, and legal operators are driving needed tax revenue to states across the country.”
Furthermore, there is an effort by the gaming industry to educate bettors on responsible gaming. For example, about 71% of traditional Super Bowl bettors reported getting a responsible gaming message in 2022. In addition, American adults under 35 remember seeing a responsible gambling message, and it’s more likely to hear younger American bettors emphasize legal gambling. On that note, Miller added:
Quote“As interest in legal sports betting continues to expand, the gaming industry remains committed to responsibly delivering world-class entertainment, educating consumers about how to bet responsibly, and combating illegal gambling as we work to build a safe, competitive, and sustainable legal market for all.”
Super Bowl LVII Forecasts from Other Sources
Apart from the survey carried out by AGA in conjunction with Morning Consult, there are other tangible data sources to back up the Super Bowl betting estimates.
For example, Eilers & Krejcik Gaming, an analytics firm based in California, considered only legal bets to be placed during the 2023 Super Bowl. The company forecasts that slightly more than $1 billion will be placed, a projection that’s almost similar to last year’s estimates. Nevada is predicted to lead with $155 million, New York at $11 million, Pennsylvania at $91 million, Ohio with $85 million, and New Jersey at $84 million to round up the top five.
Further, Eilers & Krejcik Gaming also projects that bettors will wager between 10 to 15% of the $1 billion live after the game begins at the State Farm Stadium. Meanwhile, about 15 to 20% of the legal wagering activity is to consist of same-game parlays or a wide range of bets, such as the number of points scored and betting on a winner or a player.
GeoComply, a cybersecurity solutions company that provides sportsbooks with data on bettors’ locations, also recently released some interesting numbers. GeoComply logged more than 550 million geolocation checks from January 14th to 29 last month during the NFL playoffs, a 50% increase compared to the same period in 2022.
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