Posted on: February 5, 2024, 12:37h.
Last updated on: February 5, 2024, 12:37h.
It’s Super Bowl week and that means the betting forecasts are coming in hot and heavy. Betters in the US are expected to place $1.25 billion in regulated wagers on the game.
Eilers & Krejeck Gaming (EKG) forecasts the Super Bowl to be the most wagered on sporting event in the US, accounting for 1% of total handle in this country. According to EKG, sportsbook operators primary objective with the Super Bowl is to acquire new customers and cross-sell other products to those bettors.
EKG noted, “In-game or live betting will be a significant contributor at 10% to 15% of Super Bowl handle this year.”
Nevada, New York to Lead State-Level Handle
Las Vegas playing host to the Super Bowl is expected to make Nevada the state-level handle leader. EKG sees the state accounting for 12.8% of Super Bowl handle, followed by New York at 12.4%.
Other states like New Jersey, Pennsylvania, and Illinois round out the top five. EKG estimates about 3% of Super Bowl handle will come from Michigan.
Same-Game Parlays Could Be Huge
EKG estimated that same-game parlays could account for up to 25% of Super Bowl handle this year.
“We think the number will be even higher at FanDuel and a tick below at DraftKings,” EKG noted.
The firm added that while 50% of revenue for those operators during conference championship weekend was derived from same-game parlays, that percentage is volatile on a week-to-week basis.