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Legal sports betting could increase Super Bowl bets 25%

29th January, 20:37

LAS VEGAS - More than 1-in-10 American adults plan to bet on Super Bowl LIV.

That's according to a new American Gaming Association survey projecting 3 million more Americans will wager on the big game this year compared to last year.

Of the 26 million people expected to bet on Super Bowl LIV, 4 million of them will do so at a brick-and-mortar sportsbook - a 25 percent increase.

The bet uptick leading up to the Kansas City Chiefs-San Francisco 49ers matchup runs tandem with the spread of legalized sports betting, according to AGA CEO Bill Miller.

"The size of the audience and the amount wagered is clearly growing with the legal market," Miller said in a conference call Tuesday morning.

Since New Jersey's victory in a U.S. Supreme Court case that overturned the Professional and Amateur Sports Protection Act, a law that had restricted sports betting to four states, 14 states now offer legal, regulated sports betting.

More than $17 billion has been legally wagered on sports since that May 2018 ruling. Another six states and Washington D.C. could open legal markets in coming months.

In September 2018, gamblers bet a record-breaking $445 million on sports in New Jersey, the largest total in the state since legal sports betting began in June 2018, according to the Associated Press.

The figures arrived as the rapidly growing New Jersey sports betting market challenges Nevada for nationwide leadership of the industry.

The two states have toggled back and forth in recent months in terms of who takes in more sports bets, but Nevada still has the highest monthly totals, including nearly $600 million in March, the largest monthly amount in U.S. history.

Contributing: The Associated Press.