This Year’s Super Bowl Bets Could Reach $1.25B With Regulations in Place

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.

Las Vegas Super Bowl 2024 LVCVA
Allegiant Stadium, home of the Las Vegas Raiders, site of this year’s Super Bowl. The game could generate $1.25 billion in regulated bets. (Image: Getty)

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.

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