Sports betting on Super Bowl expected to break record

Published: Feb. 7, 2023 at 10:20 PM CST
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KANSAS CITY, Mo. (KCTV) - Super Bowl LVII will break records for sports betting.

That’s the prediction of the American Gaming Association (AGA), a leading casino trade group. They estimate more than 50 million people plan to put money on the game to the tune of $16 billion in all.

That includes friendly games of Super Bowl Squares, what the group calls “casual” betting. But, the numbers are also up for the traditional betting formats.

They project that 30 million people plan to make a Super Bowl wager online, at a retail sportsbook or with a bookie. That’s up 66 percent from 2022.

70% of those who indicated they plan to place a bet on the Super Bowl said it was “important that they place bets only through legal, licensed websites.”

One reason behind the surge is that more and states are getting on board with legalizing sports betting. Chiefs fans can bet legally in Kansas. Eagles fans can bet legally in Pennsylvania. And, for the first time ever, the Super Bowl itself is being held in a state with legal sports betting.

“Only a few years ago, there was only one market -- in Nevada -- that was legal,” remarked AGA Senior Vice President Casey Clark. “Now, we’ve got 36 states plus D.C. So, there’s a lot of opportunity for Americans who want to bet on sports to do that legally now.”

The largest number of those who said they would be placing a bet, 38%, said they would be using an online app to do so. 18% planned to bet in-person at a casino. 13% said they’d be using a bookie.

Morning Consult conducted an online survey of more than 2,000 adults on behalf of the AGA between Jan. 31 and Feb. 1. They weighted and extrapolated that data to come up with the numbers released Tuesday.

Bettors appear evenly split on which team will win. 44% of those planning to place a bet said they’re betting on the Chiefs to win. 44% said they’re betting on the Eagles to walk away with the trophy.

The remaining 12% were either undecided or placing bets that had nothing to do with which team would prove victorious.

“In different markets, there’s different prop bets that you might be able to bet on. Things like the coin toss or the color of the Gatorade that’s going to be poured over the coach’s head,” explained Clark.

Whoever or whatever you’re betting on, the AGA advises you view it as entertainment -- not an investment -- and have a game plan going in.

“Whether you’ve done this for a long time or you’re new to it, there are resources available about how to have a game plan, how to set budgets, how to know your limits, understanding the competitions,” said Clark. “Betting legally is really important and understanding how to do that is critically important to you.”

The website has information on how the odds work, along with advice on how to place bets responsibly.