NFL-'Records will be set': Americans bet big on Super Bowl 58
Reuters
Published Feb 11, 2024 03:29PM ET
By Evan Garcia
LAS VEGAS - The sports gambling industry is preparing for a record-breaking inflow of money as Americans bet on Sunday's Super Bowl in Las Vegas.
A record 67.8 million American adults are expected to bet a combined $23.1 billion on the matchup between the Kansas City Chiefs and San Francisco 49ers, the American Gaming Association said this week.
So far, the highest wager at Caesars (NASDAQ:CZR) Palace in Las Vegas is $1 million towards the San Francisco 49ers beating the Kansas City Chiefs, according to Caesars Sportsbook Assistant Director of Trading Adam Pullen.
“They're very passionate about their teams, the Bay Area fans, and they come over and they use their passion at the betting windows,” Pullen said.
“You might get more people that maybe wouldn't bet, are going to throw a bet down, just because everybody knows it's here. So, yeah, records will be set.”
The number of American adults planning to bet on the NFL's title game is up 35% from a survey conducted last year by the trade group representing the U.S. casino industry, while the estimated value of wagers is well up from $16 billion last year.
With the expansion of legal sports betting, the AGA said traditional Super Bowl wagers are expected to pass casual wagers for a second consecutive year.
Las Vegas native Robert Jansing, a 49ers fan, was putting his faith – and money – in favor of San Francisco at the Caesars Sportsbook.
“I don't bet a lot, but on the Super Bowl, I always do the Super Bowl…biggest game of the year,” Jansing said. “And I won the last two. I bet on Kansas City last year and I bet on the Rams a year before. So we'll see how it goes.”
According to the AGA, 42.7 million American adults plan to place a traditional sports wager online, at a retail sportsbook or with a bookie, up 41% from 2023, while 36.5 million plan to bet casually with friends, up 32% from 2023.
The AGA also said bettors are nearly split on the outcome of the game, with 47% planning to bet on the defending champion Chiefs and 44% planning to bet on the 49ers.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.