Super Bowl betting experts project revenue growth of 25 percent this year thanks, in large part, to the expansion of legalized sports betting in the United States. The American Gaming Association (AGA) estimates a record-setting year for wagers placed on the 2020 Super Bowl, which pits the Kansas City Chiefs against the San Francisco 49ers.
Thirteen states currently offer legalized sports betting — a stark contrast to the market before a 2018 US Supreme Court ruling overturning a federal sports betting ban outside of Nevada.
Prior to that ruling, Nevada was the only state with legal sportsbooks. That meant football fans in America were either forced to illegally wager online, through a bookie, or travel to the Silver State to place a bet.
While not yet operational, six additional states — and Washington DC — have passed sports betting legislation, meaning nearly half the country will soon have legal sportsbooks nearby.
Even without those new markets currently online, the industry’s rapid growth means legalized Super Bowl betting will be at an all-time high this coming weekend.
What Happens in Vegas Happens Elsewhere Too
One in 10 American adults will wager on Sunday’s big game at a brick-and-mortar sportsbook, according to the AGA. That accounts for 26 million people, 5 million of whom will place their bets through an online or mobile device.
And that’s only a portion of the Super Bowl betting revenue expected. Even with expanded sports betting, many others will still wager through an illegal bookie or through friends.
The AGA estimates $6.8 billion will be wagered on the NFL’s championship game. A survey conducted by Morning Consult indicates that more than 3 million more adults will place a bet on the Super Bowl compared to last year.
Will the Sportsbooks Win?
In most years, the sportsbooks have turned a huge profit on the Super Bowl. This year should be no different, considering the fans are split on which team they think will win the game. According to the AGA, 52 percent of fans expect a Chiefs victory, while 48 percent are betting on the Niners.
Kansas City opened as a 1.5-point favorite. That line has since jumped a tad to 2 points, but it’s clear the general public is split on which team they expect to win.
Super Bowl kickoff is set for 3:30 pm PT on Sunday. The game is televised on Fox.