New data from the American Gaming Association estimated that more than 26 million Americans will wager money on Super Bowl LIV. This is a 15% increase from last year, with a projected amount of $6.8 billion. The increase in betting can be attributed to the increased number of states allowing legal and regulated sports betting. Fourteen states now allow sports wagering. The increase in betting in the Super Bowl is no surprise, as CNBC detailed:
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“Americans have never before had so many opportunities to wager on the Super Bowl in a safe and legal manner, and clearly, they are getting in on the action,” said Bill Miller, president and CEO of the American Gaming Association. Miller tells CNBC that bettors are beginning to migrate from the illegal marketplace. “That’s the most important and exciting dynamic,” he added.
Since May of 2018 when the U.S. Supreme Court repealed the Professional and Amateur Sports Protection Act, 20 states now offer legal and regulated sports betting. Of those, 14 states are operational allowing sports wagering. Fourteen more states are expected to legalize this year. Legalization has proven to be a windfall for states, with $17 billion wagered legally and a lot of that money means new revenue for states.
With the new frontier of legalized sports betting taking hold, more and more Americans will wager on the Super Bowl at brick-and-mortar sportsbook, a 25% increase from last year. Another 5 million will place their bet online or on a mobile platforms, a 19% increase from last year.
image via CNBC
Source: neatorama