Americans are expected to bet a staggering $23.1 billion on Super Bowl LVIII, marking a significant increase from previous years, according to a survey conducted by the American Gaming Association (AGA). With two-thirds of American adults residing in jurisdictions with legal sports betting, the Super Bowl taking place in Las Vegas for the first time has generated immense interest and excitement among bettors.
The survey, conducted by data firm Morning Consult on behalf of the AGA, involved 2,204 adults and revealed that approximately 67.8 million adults, constituting 26% of the adult population in the United States, are likely to place bets on the highly anticipated game between the San Francisco 49ers and Kansas City Chiefs. This surge in both the number of bettors and the amount wagered demonstrates the growing popularity and acceptance of sports betting in the country.
AGA President and CEO Bill Miller expressed his enthusiasm for the record-breaking interest in wagering on this year’s Super Bowl, stating, “As the Super Bowl comes to Las Vegas for the first time, this year’s record interest in wagering marks a full circle moment for the U.S. gaming industry.” Miller emphasized the importance of ensuring consumer protection and responsible gambling practices in this rapidly expanding market.
Since the U.S. Supreme Court ruling in 2018 that legalized sports betting, over $300 billion has been wagered with American sportsbooks. Currently, 38 states, along with the District of Columbia and Puerto Rico, offer regulated betting options. Furthermore, sportsbook commercials during sporting events have become commonplace, with estimated TV ad spend and media value on sports betting reaching $360.1 million in 2023, according to iSpot data. The NFL has also embraced this trend, announcing that two sportsbook commercials will air during Super Bowl LVIII.
Research firm Eilers & Krejcik Gaming predicts that approximately $1.25 billion will be wagered on the Super Bowl solely through American sportsbooks. Notably, 25% of these bets are expected to be same-game parlays, while 15% will be placed after the game has already kicked off. Despite the proliferation of legal wagering, Nevada’s betting market has remained resilient, experiencing only a 5% year-over-year decrease in the total amount wagered in 2023. Eilers & Krejcik estimates that 13% of Super Bowl bets will be placed with Nevada sportsbooks, the highest percentage among all states.
In the lead-up to the game, Caesars Sportsbook made headlines by accepting a $1 million bet on the 49ers to win outright and a $100,000 wager on the Super Bowl coin flip landing on tails. As of Tuesday, the 49ers were favored by 2 points over the Chiefs, according to consensus among sportsbooks.
With the Super Bowl’s arrival in Las Vegas and the increasing accessibility of legal sports betting across the country, this year’s game is set to break records in terms of both betting interest and wagers placed. As Americans eagerly await kickoff, the anticipation and excitement surrounding Super Bowl LVIII extend far beyond the football field.
