Connect with us

Hi, what are you looking for?

[stock_market_widget type="ticker-quotes" template="chart" color="#5679FF" assets="MSFT,AAPL,NFLX,GOOG,TSLA,NFLX,AMZN" animation="true" display_currency_symbol="true" api="yf" speed="50" direction="left" pause="true"]

Top Stories

At the Super Bowl, fans will be able to legally bet on the game on their phones — a first

A whopping 50.4 million Americans are expected to place some kind of wager on the 2023 Super Bowl between the Philadelphia Eagles and the Kansas City Chiefs, according to estimates from the American Gaming Association (AGA). And for the first time ever, the Super Bowl is being played in a state where online sports betting is

at-the-super-bowl,-fans-will-be-able-to-legally-bet-on-the-game-on-their-phones-—-a-first

A whopping 50.4 million Americans are expected to place some kind of wager on the 2023 Super Bowl between the Philadelphia Eagles and the Kansas City Chiefs, according to estimates from the American Gaming Association (AGA). And for the first time ever, the Super Bowl is being played in a state where online sports betting is legal.

Fans attending the game in Glendale, Ariz., can legally place bets on their phones while the game is in progress, or go to the famous BetMGM Sportsbook that is located at State Farm Stadium to place their bets.

See also: LeBron James vs. Michael Jordan: who is the GOAT when it comes to net worth?

“The fact that the Super Bowl is being played in a legal sports-betting state was almost unthinkable five years ago,” said AGA President and CEO Bill Miller. “It’s a testament to the progress we’re making.”

Today, 33 states and Washington, D.C. have at least some form of legal sports wagering, according to a tally from the AGA. The 2024 Super Bowl will take place in Las Vegas, the gambling capital of the world.

As more states have made sports gambling legal in recent years, legal Super Bowl bets have skyrocketed: $300 million in 2020, $500 million in 2021 and $950 million in 2022.

And this year the total amount legally wagered on the Super Bowl is expected to reach a record $1.1 billion, according to analysts at PlayUSA.

See also: Is Rihanna the first billionaire to perform at a Super Bowl halftime show?

The total amount of money wagered on the Super Bowl is actually expected to be drastically higher than that. The American Gaming Association is projecting more than $16 billion to be wagered on Super Bowl LVII in the U.S., when adding illegal wagers made through offshore sportsbooks, bets paced with a local bookie, or in a pool or squares contest.

Advertisement. Scroll to continue reading.

Read on: 5 weird Super Bowl prop bets, including the ‘color of Gatorade poured on winning head coach’ and ‘coin toss outcome’

More states have legalized gambling since last year, and many states set monthly records in total bets with regularity. Sportsbooks like Caesars CZR, -2.70%, DraftKings DKNG DKNG, -3.27% and FanDuel are in constant competition to draw in new customers with free-bet promotions and deposit-matching initiatives.

“The 2023 Super Bowl could draw more bets than any other game in the history of US sports, easily surpassing 2022’s total with the addition of a few major markets to the equation,” said Eric Ramsey, lead analyst for Catena Media, which owns PlayUSA.

“Ohio, in particular, is poised to make a significant contribution with a top-five performance in its first 45 days of legal operations. Nevada, meanwhile, figures to enjoy at least one more year atop the Super Bowl betting throne with nearly 10 times the average per-capita volume for this specific event.”

The Super Bowl is consistently the most-wagered-on single event of the year. At times, NCAA’s March Madness basketball tournament has seen more wagers, but that is a series of games, and not a single game.

See also: Tom Brady has made $512 million as an NFL player — and has that $375 million contract with Fox Sports in his back pocket

Advertisement. Scroll to continue reading.

You May Also Like

Stocks

SAN FRANCISCO (MarketWatch) — Among the companies whose shares are expected to see active trade in Thursday’s session are BlackBerry Ltd., Oracle Corp., and...

Mining

NAL spodumene concentrate production remains targeted for H1 2023 with revenue potential in Q3 2023. Credit: Piedmont Piedmont Lithium (Nasdaq: PLL; ASX: PLL) announced...

Tech

This holiday season, consider giving the gift of security with an ad blocker. That’s the takeaway message from an unlikely source — the FBI...

Top Stories

There have been major developments out of Japan this week. The Bank of Japan surprised the market by widening its yield curve target by...

Advertisement