Analysis: How Much Money Will Be Bet On Super Bowl LVI?

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Super Bowl bet

Just four years ago, there were two options for Super Bowl betting in the US: legally bet in Nevada or illegally bet anywhere else.

Now, of course, more than half of US jurisdictions have legal sports betting. Most of those jurisdictions include statewide mobile betting which has really spurred handle growth across the country.

Seventeen jurisdictions reported $486.4 million in Super Bowl betting handle in 2021. Last year included plenty of changes to the US sports betting industry, though, including new states and more mobile access.

That means this year’s legal handle should be much higher: PlayUSA expects $1 billion in legal Super Bowl wagers. The American Gaming Association estimates Americans will bet $7.6 billion in legal and illegal wagers on Super Bowl.

Super Bowl betting in 2021

Here’s a look at the legal handle reported from the Super Bowl last year:

State2021 Handle2020 Handle2021 Revenue2021 Hold2021 Tax/State Revenue
Colorado $31,200,000N/AN/AN/AN/A
Illinois $45,610,513N/A $7,659,26916.8% $1,148,890
Iowa $16,300,000 $6,500,000N/AN/AN/A
New Hampshire$7,100,000$2,310,000-$1,700,000-23.9%N/A
New Jersey $117,400,000 $54,300,000 $11,300,0009.6%N/A
Rhode Island$6,500,000$5,500,000N/AN/AN/A
Washington DC$544,292N/A-$9,546-1.8%N/A
West Virginia$4,375,310$3,900,000N/AN/AN/A
Total $486,366,369 $280,327,844 $42,952,349N/AN/A

* Arkansas, Michigan and New York did not break out Super Bowl betting handle last year.

Not only should handle in most of those markets grow but there are seven new markets that launched within the last year that will make a difference:

The addition of mobile sports betting in New York alone should mean significant growth in legal handle.

How much betting will New York have?

New York has outperformed all expectations so far so it’s natural to expect some big numbers out of the biggest NFL betting day of the year. The state’s mobile operators took more than $1.6 billion in bets in just 23 days last month.

Nevada led all US markets with $136.1 million in handle last year. New Jersey sportsbooks were second with $117.4 million.

Both numbers should be eclipsed by New York this year. Given the thirst for sports betting already shown by New Yorkers and the promotional money still floating around the market, an estimate of $150 million in handle would probably be considered conservative by many.

Which state will bet the most on the Super Bowl?

There are four states that should see significant growth in Super Bowl betting this year.

Illinois and Indiana should both benefit from their proximity to non-legal states where residents have a vested interest.

Indiana sportsbooks should see increased traffic from Ohio residents to bet on the Cincinnati Bengals. Expect some big numbers to come from the retail sportsbook at Penn National‘s Hollywood Lawrenceburg as well, given it is only 30 miles from downtown Cincinnati.

Illinois, of course, borders Missouri and St. Louis, where the Rams used to play before the move to Los Angeles. Whether the bets are by vengeful fans backing the Bengals or diehards still backing their former local team, there will definitely be interest. The only thing holding Illinois sportsbooks back is their in-person registration requirement that expires next month.

Both Tennessee and Virginia did less than $20 million in Super Bowl betting last year. Both markets were fairly new – Tennessee sportsbooks launched Nov. 1 while Virginia sportsbooks launched Jan. 21 – which means both should see increased handle after a year of operators adding customers.