February 24, 2024

Record number of Americans expected to wager on Super Bowl LVIII

With Super Bowl LVIII between the San Francisco 49ers and Kansas City Chiefs taking place in Las Vegas, it’s fitting that more Americans than ever before are expected to bet their cold hard cash on the big game. 

According to a survey conducted by the American Gaming Association (AGA), a record 67.8 million Americans will wager on this year’s game. That figure is a 35% increase from 2023, the AGA said. The amount wagered is expected to be more than $23 billion, up from $16 billion for the Super Bowl LVII matchup between the Chiefs and Philadelphia Eagles. 

“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 press release. “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.”

The expansion in legalized sports betting across the United States is a big factor. Thirty-eight states and Washington, D.C. currently offer live, legal sports betting markets, according to the AGA. 

There are myriad ways for fans to gamble on the game. From the coin toss to the national anthem duration and the winning team’s Gatorade choice, to traditional moneyline, total and spread bets, the Super Bowl is a sports bettor’s dream come true, especially since many can use mobile apps to place live in-game wagers on what they think will happen on certain plays. 

According to the AGA, bettors are nearly split on which team to back. About 47 percent are planning to bet on the Chiefs, while 44 percent are siding with the 49ers. 

Although the point spread has fluctuated a bit over the past week, the 49ers have remained the favorites. San Francisco is currently a two-point favorite, according to DraftKings, while the over/under for the game is 47.5. 

The online survey of 2,204 American adults was conducted by business intelligence firm Morning Consult on behalf of the AGA and includes those who will bet online, with a bookie or sportsbook as well as those participating in pool or squares contest with friends and family.