Even before sports betting started to become widely legalized in the US, the Super Bowl was one of the most wagered events. Since 2018, the amount bet on the Super Bowl has only gone up. This year, Super Bowl 56 is projected to be the most bet on Super Bowl in history.
Over half of all US states allow some form of sports betting. Many states even rushed to pass sports betting legislation in time for this year’s big game. According to the American Gaming Association (AGA), based on a recent survey more than 31 million Americans plan to bet on Super Bowl 56.
There are many reasons for the increase in sports betting. First and foremost, more states than ever before are allowing sportsbooks to operate. As a result, upwards of 40 million more Americans have legal betting options available to them. Another big reason is the increase in advertising for sportsbooks. Between commercials and official league sponsorships, sportsbooks are able to promote more than in previous years.
Projected Betting Numbers for Super Bowl 56
The AGA recently conducted a study regarding bettors’ plans for Super Bowl 56. According to the results of the study, approximately 31.4 million people in the US plan to bet on Sunday’s game. If that number proves true, it would be a 35% increase in the number of bettors from last year.
According to the AGA, the increase in sports gambling has extended to casual betting. Results of the study indicate that 18.5 million Americans will take part in some form of casual betting. That is an increase of 23% from 2021.
An increase in casual betting is not too surprising. The growing legalization of sports betting has taken away some of the stigmas from the activity. Casual betting is a great way for people to ease into the idea of sports gambling without needing an official sportsbook.
AGA Survey Results Predict Big Day for US Sportsbooks
The Super Bowl has represented a popular casual betting option for decades. Now that many states allow sports betting, the big game has also become popular at sportsbooks across the nation. According to the AGA survey, Super 56 is projected to have a total sports betting handle of $7.61 billion. That would be an increase of 78% from last year.
Results from the AGA study indicate that most of the wagering will take place at licensed sports betting operations. The findings show that 76% of bettors plan to use legal sportsbooks to place their bets. If correct, that would be an increase of 11% from Super Bowl 55.
AGA’s survey also shows that most bettors are favoring the LA Rams to win the game. The Rams are the betting favorites, and the Super Bowl is being played at their home stadium. According to the AGA survey, 55% of bettors plan on wagering on LA to win. With only 45% of the bets being on Cincinnati, the Bengals will be underdogs in the eyes of sportsbooks and the fans.
What Factors Led to Super Bowl Betting Increasing?
The growth in sports betting in the US has been off the charts in recent years. As a result, the increase in betting on the Super Bowl is no surprise. However, according to the AGA study, there are a few specific factors that likely contributed to the industry’s growth this year.
Another major factor in the growing popularity of sports betting has been an increase in advertising. In states with legal sports betting, it is impossible to watch an NFL game without seeing ads for one sportsbook or another. Many popular sportsbooks are even partner with NFL teams or the networks that carry the games.
The AGA’s survey revealed that 41% of bettors reported seeing advertisements for sportsbooks last year. That is an increase of 12% from last year. The growing popularity and availability of online betting options are another big factor. New York legalized online and mobile betting options in January. In less than a month, the Empire State’s sportsbook pulled in a sports betting handle of $1.6 billion.
Conclusion
The longest season in NFL history comes to a close on Sunday as Super Bowl 56 kicks off. According to a recent survey from the American Gaming Association (AGA), it could be a record-breaking weekend for sportsbooks. The championship game between the LA Rams and the Cincinnati Bengals is projected to be the most bet on event in the history of legal US sports betting.
Results from the AGA study suggest many reasons for the increase in sports betting. Every year since 2018, more and more states have voted to legalize sports betting. Sportsbooks themselves are putting more money into advertising to attract new bettors. Bettors are able to access betting options easier with mobile and online betting options widely available.
Regardless of the reasons behind the growth, it appears that sports betting in the US is here to stay. Many states set new records for sports betting handles and revenue in 2021. There are still plenty of states that prohibit sportsbooks, but those numbers dwindle every year. Super Bowl 56 could be the first of many record-breaking years for sportsbooks across the US.
