More than 23 million Americans to wager US$4.3 bln on Super Bowl LV

The great final of American football, the Super Bowl, is one of the most expected events of the year in the sports field, but it is also one of the most outstanding for the sports betting market. The Super Bowl LV matchup between the Kansas City Chiefs and Tampa Bay Buccaneers will see 23.2 million Americans wager an estimated US$4.3 billion, according to American Gaming Association (AGA) research.

With the legal options available in 21 jurisdictions and consumers moving toward the legal market, Super Bowl LIV is expected to generate the largest single-event legal handle in American sports betting history. A record 7.6 million Super Bowl bettors will bet with online sportsbooks this year, up 63% year-over-year.

KEY FINDINGS

• 1.4 million Americans plan to bet in-person at a sportsbook, down 61% from 2020.
• 1.8 million bettors plan to place a bet with a bookie, a decrease of 21% from 2020.
• 4.5 million Americans plan to place a pool, squares, or similar bet, down 19%.
• 11.9 million Americans planning to bet casually with friends, down 18%.
• 56% of bettors plan to bet on the Chiefs while 44% plan to bet on the Buccaneers.

While AGA’s 2020 Survey of American Sports Bettors showed there is consumer confusion over the legal status of many online sportsbooks, consumers feel it is important to bet legally: 65% of expected Super Bowl bettors say it is important for themselves personally to use a legal, regulated sportsbook for their bets.

As awareness and availability of legal betting options grows, so do the benefits to consumers: 34% of Americans remember seeing responsible gaming messaging in the past year, up 5% from 2020. Super Bowl bettors were even more likely to see responsibility content, with 53% seeing responsible gaming messaging in the past year.

If done responsibly, sports betting is a significant opportunity for sports leagues to deepen fan engagement and unlock significant new revenue streams. Previous AGA research shows that 75% of NFL bettors say they are more likely to watch a game they bet on. The growth of the market means the NFL is starting to realize the US$2.3 billion opportunity that comes from sports betting annually.

Super Bowl LVI will be the championship game of the National Football League (NFL) for the 2021–22 season. It will be played between the National Football Conference (NFC) champion Los Angeles Rams and the American Football Conference (AFC) champion Cincinnati Bengals. The game is scheduled to take place on February 13, 2022, at SoFi Stadium in Inglewood, California.

Source: GMB