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BETTING

Super Bowl LVIII Betting: $23 Billion Expected Handle Should Set New Record

Allegiant Stadium Before Super Bowl LVIII
A video board displays logos for Super Bowl LVIII at Allegiant Stadium in Las Vegas, Nevada. Ethan Miller/Getty Images/AFP

A survey taken only last week concludes that there will be nearly a 30% increase in betting volume from last year’s Super Bowl to this year’s and that more Americans will wager on the NFL’s marquee event than ever before.

And the Survey Says…

A survey comprised of 2,204 adults conducted by Morning Consult on behalf of the American Gaming Association (AGA) between January 30th – February 1st revealed that 26% of American adults or 67.8 million people will wager on Super Bowl 58 and those bets will collectively total, approximately $23.1 billion.

“As the Super Bowl comes to Las Vegas for the first time, this year’s record interest in wagering marks a full circle moment for the U.S. gaming industry,” AGA president and CEO Bill Miller said in a release announcing the survey results.

“Our priority remains getting this opportunity right by providing the consumer protections only a regulated market can guarantee and investing in responsible gambling tools, safeguards, and education,” he added.

Total Eclipse of Last Year

This year’s Super Bowl betting is expected to eclipse last year’s $16 billion by almost 30%. Many industry pundits point out that it is due primarily to more markets now being introduced into the nation’s licensed and regulated online sports betting market.

Over the past 12 months, Ohio, Massachusetts, Florida, Kentucky, Vermont, and Maine have all launched mobile sports betting.

Advertising also plays a factor as it takes dozens if not hundreds of impressions to get potential customers to become aware of a product or service and then ultimately purchase those goods.

Online sportsbooks have traditionally advertised heaviest when entering new markets to make consumers aware of their brand but not everyone is an early adopter which is why Super Bowl promos are omnipresent in the weeks leading up to the big game.

Vegas Braced for Betting Deluge

Nevada’s Super Bowl betting record was set in 2022 when $179 million was wagered on the Rams/Bengals title tilt. But this year the venue has shifted to Sin City where Las Vegas will hold its first-ever Super Bowl game at Allegiant Stadium.

Moreover, the teams involved, the Kansas City Chiefs and San Francisco 49ers, were considered Super Bowl contenders before the season began and neither club disappointed, which makes this matchup even more appealing. It all adds up to tourists visiting to attend the big game or just being in the atmosphere of the Western Hemisphere’s gambling mecca coupled with the biggest sporting event in North America.

The more people, the more betting, which means this year’s Super Bowl should see a new sports betting record set.

Super Challenge

Jason McCormick, vice president of race and sports at Station Casinos, said the two factors – the Super Bowl location and the teams involved – will undoubtedly bring in huge numbers. As far as the record is concerned, McCormick said, “It’s just a matter of, by how much?”

“It’s really hard to get away from Super Bowl Sunday,” McCormick said. “So, you see so many people that aren’t an avid sports fan or even (a casual sports bettor), traditionally — they jump in the waters on Super Bowl Sunday because they just want to be a part of what’s going on.”

Some of the visitors to the Vegas sportsbooks will be new to betting and McCormick wants his staff braced for the barrage. “My biggest focus in this preparation is, how do we make it easy and convenient for our guests to get in and out of our sportsbooks?” he said. “To be able to make their wagers? How do we ensure that we’ve got the best, friendly and knowledgeable staff, to be able to walk them through making these wagers?”

We are sure they will find a way.

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