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A record 26 million Americans will post $6.8 billion on Super Bowl betting this year, according to new data from the American Gaming Association (AGA).
Much of that money will be wagered in the illegal market, though, as legal US sportsbooks continue working on migrating bettors from offshore and bookies.
The record number is about 3 million more people who wagered on the Super Bowl last year. The expansion of legal US sports betting helps with that growth, according to Bill Miller, president and CEO of the AGA:
“With 14 operational markets and another seven close behind, Americans have never before had so many opportunities to wager on the Super Bowl in a safe and legal manner, and clearly, they are getting in on the action. With increased visitation to legal sportsbooks, we are successfully drawing bettors away from the predatory illegal market.”
The survey, conducted by Morning Consult, includes a few interesting nuggets of information:
PlayUSA.com forecasts legal online and retail US sportsbooks will take $400 million in Super Bowl bets.
According to DraftKings, 82% of Americans are interested in placing a legal bet on the Super Bowl. That number could be a little high considering the survey targeted 1,000 sports fans.
The appetite for daily fantasy sports is still strong as well, with 81% wanting to enter a Super Bowl DFS contest.
Super Bowl betting also holds the attention of viewers. A robust 78% said they’d watch the entire game if they bet on it. And 61% said they wouldn’t change channels during ad breaks if they had money on the line.
The most popular form of betting will be squares contests at 62%, followed by spreads at 56%, over/under at 43% and in-game betting at 42%.
There could be as many as 30 legal US jurisdictions with sports betting this time next year, Miller said.
If the pending seven jurisdictions all begin taking bets by the start of next NFL season, that would mean more than 100 million Americans have access to legal sports betting, he added.
The business of sports betting and how teams and leagues can profit off of it is getting bigger as well. The NFL has a $2.3 billion opportunity from legal US sports betting, according to AGA research.
As for sports teams, there are already 70 partnerships between teams and gaming companies to date. That should eclipse 100 by the end of the year, Miller said.