The Super Bowl is in Las Vegas for the first time in the NFL’s history.
Once thought to be an impossible venue, the NFL changed its sports gambling policy to a more relaxed in recent seasons. Their change in the league’s policies coincided with a 2018 Supreme Court ruling that allowed states to vote to legalize sports betting.
Thirty-eight of the 50 United States legalized sports gambling over five-plus years since that decision, so it’s no surprise there’s a gambling boom surrounding the NFL’s biggest event of the season.
The boom will increase to epic proportions in Las Vegas, which is viewed as the gambling capital of America.
Just how much in gambling revenue will the Las Vegas Super Bowl of 2024 bring in? Here’s what to know about the contest and how much bettors around the world are planning to spend as they try to predict the game.
MORE: Why Chiefs will be among Brock Purdy’s toughest tests yet in Super Bowl 58
How much money will people bet on Super Bowl 58?
Bettors are expected to have up to $23.1 billion on the line in Super Bowl 58, according to a recent survey from the American Gaming Association (AGA), via ESPN.
Approximately 26 percent of the adult population in the United States — 67.8 million people, to be exact — are expected to have action on Sunday’s NFL championship game, per the AGA. Both the number of bets and the total value of them have increased significantly since Super Bowl 57. At that time, $16 billion in bets were expected to be processed for the Chiefs-Eagles game, per the AGA.
This is hardly a surprise, as the sports gambling industry is on the rise as it has become legal across many states.
MORE: Sporting News experts make 49ers vs. Chiefs Super Bowl picks
Also helping the increase’s cause is that the Super Bowl will be played in Las Vegas, which has long had legalized gambling. It’s expected that 13 percent of all wagers on the Super Bowl will come from Nevada, good for the most among any state, per Research firm Eilers & Krejcik Gaming.
The AGA believes that the Super Bowl’s location in Las Vegas is contributing to the uptick in bets expected around the Super Bowl.
“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 release regarding the survey results. “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.”
American sportsbooks have taken in over $300 billion in bets since a Supreme Court ruling legalized sports gambling in 2018. They should only further pad their pockets in 2024 in what figures to be an unpredictable and tightly contested game between the 49ers and Chiefs.
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