Despite the struggling economy this year, they expect to see wagers surpass what they were last year for the Super Bowl.
More people are expected to bet on things like the coin toss than we saw in previous years. For perspective, last years wagers were worth about $8 billion.
Fox Business reports, Last years Super Bowl saw almost $8 billion worth of wagers, but this years big game is expected to surpass last years betting totals.
Compared to the dollar amount people were betting last year, thats an increase of 110%. Compared to 2021, thats an increase of 78%.
Bill Miller is the President of the American Gaming Association. Miller recently told Fox Business that approximately 20% of Americans would bet on the Super Bowl this coming Sunday. Per Fox Business, One in five Americans are going to bet on the Super Bowl. Thats everything from betting on the games outcome to squares at Super Bowl parties, and in-person betting, mobile betting, Miller said.
Part of the reason for this is because of the location of this years Super Bowl. This year, it will be held at Statefarm Stadium in Arizona. Arizona recently legalized sports betting in the state. The first year after it was legalized, there was $5 million in sports betting statewide.
In 2018, the Supreme Court allowed states to legalize sports betting. Now, many states are legalizing the activity, like Arizona. Miller points out that five years ago, the only state that allowed sports betting was Nevada. However, the Supreme Court declared that Nevada is not permitted to have a monopoly on sports betting, leading to over 35 states enjoying legalized sports betting today. Now that more people are allowed to bet on sports legally, the number of wagers has skyrocketed compared to previous years.
When it comes to the Super Bowl, people bet on everything you can think of. Things you wont see people bet on during any other game during the Super Bowl. For example, the coin toss, the color of Gatorade, and more.
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