Record Number of Americans Expected to Wager on Super Bowl 2024 in Las Vegas
The Super Bowl is always a highly anticipated event, but this year’s edition in Las Vegas is expected to be bigger than ever when it comes to betting. According to projections by the American Gaming Association, approximately 68 million Americans, about one in four, will wager on Super Bowl 2024. This represents a 35 percent increase compared to last year.
The total amount of bets placed for the Chiefs vs. 49ers game is estimated to be a staggering $23.1 billion. However, only $1.5 billion of that will be wagered through legal gambling channels. The majority of the action will come from illegal betting, which is an ongoing issue in the gambling industry. Some bettors prefer to avoid fees and taxes on their winnings by placing bets through illegal operators.
Chris Grove, a partner at gambling research firm Eilers & Krejcik Gaming, explains that people may misrepresent their betting intentions when surveyed. He believes that the regulated sports betting market in the U.S. is on track to surpass the illegal market, but it will take a few more years for this transition to fully occur. Currently, some of the most populated states in the country, such as Texas and California, do not have legal wagering, which contributes to the prevalence of illegal betting.
Despite the dominance of illegal betting, the American Gaming Association reports that 11 percent of Americans, or 28.7 million adults, will bet through legal channels in an effort to combat the underground market. Las Vegas is expected to be the epicenter of legal betting for the Super Bowl, with 12.8 percent of the overall action taking place there. New York and New Jersey are also significant contributors, with 12.4 percent and 9.6 percent of the betting action respectively.
This year’s projected figure of $23.1 billion in wagers is substantially higher than last year’s estimate of $16 billion. The popularity of traditional sportsbook wagering is on the rise, with approximately 42.7 million Americans planning to bet on the game through a sportsbook or bookie. This represents a 41 percent increase from the previous year. Casual pool-style wagering with friends is also on the rise, with 36.5 million Americans planning to participate, a 32 percent increase from last year.
Interestingly, the number of Americans intending to watch the game itself has also increased. Roughly 73 percent of Americans plan to watch the Super Bowl, a nearly 10 percent increase compared to last year. Some attribute this increase to the “Taylor Swift effect.” NFL Commissioner Roger Goodell mentioned that ratings were booming thanks to a massive number of fans, particularly young women, who are interested in seeing why Swift is attending the game. Goodell believes that Swift’s presence brings in a new group of young fans and is great for the NFL.
In terms of viewership, the AFC Championship game between the Chiefs and the Ravens drew in 55 million viewers, the highest for an AFC title game. This indicates the growing popularity of football and the Super Bowl.
Las Vegas has long been a destination for sports bettors, but now with 38 states allowing legal wagers, it has become a gambler’s paradise. There are plenty of options available for those looking to place bets on the Super Bowl.
Caesars Sportsbook has already reported significant action ahead of Super Bowl 2024. They have received a seven-figure bet on the 49ers and several six-figure bets, including one on the coin toss. The line for the game has shifted in favor of the 49ers due to sharp bettors placing their money on San Francisco.
As the Super Bowl approaches, excitement is building not only for the game itself but also for the betting frenzy that accompanies it. With a record number of Americans expected to wager on the game, Las Vegas is gearing up for a Super Bowl like no other.