Super Bowl LVI to attract $7.6 billion in bets as online betting surges in 2022

Betting with a bookie in 2022 jumped roughly 78% compared to 2021

A record number of Americans will wager a titanic sum of around $7.61 billion on this year’s Super Bowl, according to new research. 

The American Gaming Association released a report on the anticipated betting for the upcoming championship, finding that 31.4 million Americans plan to place a wager on the game – a 35% increase from 2021. 

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"The results are clear: Americans have never been more interested in legal sports wagering," said Bill Miller, AGA president and CEO. "The growth of legal options across the country not only protects fans and the integrity of games and bets, but also puts illegal operators on notice that their time is limited." 

Current betting slightly favors the Rams, with 55% expecting them to win compared to the Bengals. Going into the season, only 1% of people bet on the Bengals to win the Super Bowl and only 2% bet on the Rams. 

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The most notable trend that the AGA reported was the sharp increase in traditional betting over casual betting – defined as betting with a sportsbook or bookie vs. betting with a friend or in a pool. 

Ticker Security Last Change Change %
DKNG DRAFTKINGS INC. 14.24 +0.11 +0.78%
MGM MGM RESORTS INTERNATIONAL 34.52 +2.42 +7.54%
BETZ LISTED FUND TRUST ROUNDHILL SPORTS BETTING AN 16.53 +0.54 +3.38%
PDYPY FLUTTER ENTERTAINMENT PLC 59.78 +1.31 +2.24%
CZR CAESARS ENTERTAINMENT INC. 51.02 +4.62 +9.96%

Casual betting will edge out traditional betting at 18.5 million vs. 18.2 million, but traditional betting will surge around 78% compared to last year while casual betting will only increase by about 23% over the same period. 

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The expansion of legal and online betting likely played a significant factor in this spike, according to the AGA. Overall online betting activity increased by around 70% from last year. 

New York State approved nine online sportsbooks in November 2021, providing the biggest expansion for the market in some time. Groups including FanDuel, DraftKings and BetMGM launched earlier this year. 

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At least 76% of respondents told AGA it was important to bet through a legal operator, and over 106 million people recalled seeing or hearing advertising related to responsible gambling in the past year.