Figures released this week by the American Gaming Association include bets placed with legal outlets, as well as with illegal bookies and online operations in other countries.
The volume of betting participation is projected to be 35% higher than last year, which was the previous record.
Bettors plan to wager an estimated $23.1 billion on this year’s Super Bowl, up from $16 billion last year, the group predicted.
Of that, about $1.5 billion is projected to be bet with legal outlets, the group said, citing consensus estimates from various sources. That is in the same ballpark as the $1.25 billion in legal bets projected by Irvine, California-based research firm Eilers & Krejcik Gaming.
Sports betting is legal in 38 states plus Washington, D.C.
“There’s a good chance that every Super Bowl for the next ten or so years will be the most bet Super Bowl thanks to the underlying growth of regulated sports betting in the U.S.,” said gambling analyst Chris Grove, a partner at Eilers & Krejcik Gaming.
Sunday’s game will feature the defending Super Bowl champion Kansas City Chiefs against the San Francisco 49ers in a rare rematch from four years ago.
The 49ers are favored by 2.5 points, meaning they would have to win the game by 3 or more points for bets on them to be winners. Conversely, if the Chiefs win, or if they lose by no more than 2 points, bets on Kansas City would win. Those odds are from FanDuel Sportsbook provider.
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