A record number of Americans will bet a whopping $7.61 billion on this year’s Super Bowl, according to new research.
The American Gaming Association released a report on predicted betting for the upcoming championship, finding that 31.4 million Americans plan to place a bet on the game, a 35% increase from 2021.
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“The results are clear: Americans have never been more interested in legal sports betting,” said Bill Miller, President and CEO of AGA. “The growth of legal options across the country not only protects fans and the integrity of gaming and betting, but also warns illegal operators that their time is limited.”
Current bets favor the Rams slightly, with 55% expecting them to win over the Bengals. At the start of the season, only 1% of people are betting on the Bengals to win the Super Bowl and only 2% are betting on the Rams.
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The most notable trend reported by the AGA was the sharp increase in traditional betting versus occasional betting – defined as betting with a sportsbook or sportsbook versus betting with a friend or in a pool.
|MGM||MGM RESORTS INTERNATIONAL||39.54||+0.04||+0.09%|
|BETZ||TRUST ROUNDHILL LISTED FUND PARIS SPORTIFS ONE||6:44 p.m.||-0.12||-0.65%|
|PDYPY||FLUTTER ENTERTAINMENT PLC||54.74||-0.64||-1.16%|
|CZR||CAESARS ENTERTAINMENT INC.||67.02||-1.56||-2.27%|
Occasional betting will overtake traditional betting at 18.5m from 18.2m, but traditional betting will be up around 78% from last year, while occasional betting will only be up around 23% over the same period.
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The expansion of legal and online betting likely played an important role in this spike, according to the AGA. Overall online betting activity increased by around 70% compared to last year.
New York State approved nine online sportsbooks in November 2021, providing the biggest market expansion in some time. Groups such as FanDuel, DraftKings and BetMGM launched earlier this year.
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At least 76% of respondents told AGA it was important to bet through a legal operator, and more than 106 million people recalled seeing or hearing responsible gambling advertisements in the past year.