Super Bowl expected to be biggest sports betting event in US history
An estimated 67.8 million Americans will bet a record $23.1 billion on this weekend’s Super Bowl as the nationwide gambling boom continues, according to an industry survey.
Super Bowl LVIII is widely expected to be the biggest sports betting event in United States history. It will take place in Las Vegas, amid growing concerns about rising gambling addiction rates.
Nearly 43 million people plan to place a sports bet online, at a sportsbook or with a bookmaker as the Kansas City Chiefs prepare to take on the San Francisco 49ers, the American Gaming Association said, up 41% from from last year’s event.
Another 36.5 million people plan to bet casually with friends or as part of a pool or squares match, according to the AGA: a 32% increase from 2023. The estimates are taken from a Morning Consult survey of 2,204 adults.
The Supreme Court in 2018 struck down a decades-old law that banned sports betting in much of the country. The market is now legal in 38 states and attracts billions of dollars in bets every month.
Bill Miller, president and CEO of the AGA, described Sunday’s Super Bowl as a “full circle moment” for the U.S. gambling industry. “Our priority remains to make the most of this opportunity,” he said, “by providing the consumer protections that only a regulated market can guarantee, and by investing in responsible gambling tools, safeguards and education.”
The market’s rapid growth coincides with a spike in addiction cases, according to doctors, consultants and campaigners, prompting calls for new federal laws to reduce the risk of problem gambling.
The “gambling hype” surrounding the Super Bowl “makes this an especially challenging time for anyone with or recovering from a gambling problem,” said Felicia Grondin, executive director of New Jersey’s Council on Compulsive Gambling.
She pointed out the large number of “prop” bets in the game, on everything from the coin toss to the color of Gatorade used to soak the winning coach. “The ability to bet throughout the game allows gamblers to take as many risks as there is to play,” Grondin said, “and with every setback comes the temptation to try to recoup your losses with another bet.”
Legislation has been proposed in Washington DC to provide more support for gambling addicts by shifting taxes already levied on sports betting to services. But much of the industry has pushed back hard, with the AGA even suggesting the Grit Act would “give criminals an advantage” by hampering legal gambling businesses.