As the online sports betting boom continues, operators are gearing up for a busy start to February.
The American Gaming Association released its annual Super Bowl forecast on Tuesday, stating that Americans are expected to legally wager a record $1.39 billion on the matchup between the two-time defending champion Kansas City Chiefs and Philadelphia Eagles in New Orleans.
The estimate for Super Bowl LIX — scheduled for Sunday at 6:30 p.m. ET from Caesars Superdome — represents an 11.2% increase from the $1.25 billion that gaming research and consulting firm Eilers & Krejcik predicted would be bet on last season’s big game.
“No single event unites sports fans like the Super Bowl, and that excitement extends to sports betting, with this year’s record legal handle reflecting its widespread appeal,” Bill Miller, AGA president and chief executive officer, said in a news release.
“This figure underscores the positive impact of the legal market — from protecting customers to generating tax revenue that benefits communities across the country — while enhancing the game experience for all.”
Kansas City, seeking an unprecedented third straight Super Bowl win, has held steady as a slight favorite over Philadelphia since opening at -1.5 at DraftKings and other popular sportsbooks. Currently, the Chiefs remain in the -1- to -1.5-point range, while the total has hovered around 48.5 points.
Notably, the AGA’s projection only includes legal bets. Previous reports estimated the total amount bet from both legal and unregulated platforms, including unlicensed bookmakers, squares or other casual bets. But as legislation continues to grow, the AGA changed its scope to better analyze “historical revenue data and other trends to develop a legal wager estimate for major U.S. sports betting moments.”
Sports betting is now legally operative in 38 U.S. states plus Washington, D.C., though there has been just one new addition — North Carolina — since Super Bowl LVIII between the Chiefs and San Francisco 49ers. Missouri, the Chiefs’ home state, passed legislation in November but is not expected to officially launch services until this summer.
Exact totals are difficult to pin down because of the different forums on which to bet, but last year’s game drew record estimates of $23.1 billion according to the AGA. It certainly didn’t hurt that the game was played in Las Vegas, the betting capital of the U.S. The Nevada Gaming Control Board later revealed that the state’s sportsbooks collected over $185 million in wagers on the Chiefs’ 25-22 overtime victory, marking a year-over-year increase of $32 million.
Betting favorites are 36-21 all-time in the Super Bowl, including 27-28-2 against the spread. Along with popular game lines such as the spread, moneyline and total, Super Bowl bettors traditionally also have the opportunity to wager on a smorgasbord of player/team props. Additionally, so-called novelty props allow them to bet on such things as the length of the national anthem or the color of Gatorade poured on the winning head coach. When searching for these props, it’s important to remember that they are not universally available in states with legal sportsbooks.
Doug Bonjour
