AGA predicts strong betting handle for Super Bowl LV with 23.2 million Americans flocking to the betting windows, and the majority choosing to play online. Regardless, the pandemic will diminish the total betting handle staked.
Super Bowl LV to Drive Strong but Weaken Betting Handle
Super Bowl LV is just around the corner and the Kansa City Chiefs and Tampa Bay Buccaneers are going to elicit a huge betting response from sports fans in 2021, as sports betting is now officially legal, or on the way to obtaining a full legal status, in 21 states and the District of Columbia.
Now, the American Gaming Association (AGA) estimates that 23.2 million Americans will wager an estimated $4.3 billion together on this year’s contest, with 7.6 million people betting at online sportsbooks.
This is a record 63% increase year-over-year but hardly the mark of a fully-fledged market. However, AGA president and CEO Bill Miller feels confident in the robust legal market and the growth it has achieved.
In his address, Miller noted that sports bettors were withdrawing from illegal bookmakers offshore and refocusing their efforts, and capital, on the home market in each legal state instead. He further added:
“This year’s Super Bowl is expected to generate the largest single-event legal handle in American sports betting history.”
-AGA president and CEO Bill Miller
There are 36 million people in America who can now bet thanks to the legalization in several key jurisdictions across the country, including Michigan, Montana, Virginia, Washington, DC, Tennessee, Illinois, and Colorado.
Fewer People to Turn Up
However, AGA did caution that overall Super Bowl betting will slump because of the pandemic, which has affected people economically. Retail sportsbooks will bear the brunt of this decline not just because of reduced purchasing power, but also because of restrictions cutting off access to the venues.
Pools and squares casual betting will also significantly dampen over the period, as America counts down to the Super Bowl on Sunday. At a glance, AGA predicts that 1.4 million people will bet in-person after all, or down 61% from 2020.
Furthermore, 1.8 people plan to bet with a bookie, or down 21% from last year. Another 4.5 million Americans will participate in pool or squares, which is 19% lower than 2020. Another 11.9 million US residents will bet casually with friends, or 18% drop.
The public seems to favor the Chiefs with 56% of all bettors making a bet on them with 44% betting on the Buccaneers.
Consumers Plumping for Legal Betting
While there have been irregularities with the identity of some sportsbooks, and offshore bookies have become more adept at hiding their illegal nature, the majority of sports bettors today agree that turning to a licensed and regulator option is best.
Some 65% of all people who plan to bet on the Super Bowl have said that they are determined to bet legally and that it was important to them to do so. Awareness for responsible gambling in the country is also rising, with 34% of Americans confirming to have seen a responsible gambling message over the past year – this number increases for Super Bowl bet who reported that 53% of them have seen a responsible gambling message.
AGA has been involved in various promotional campaigns encouraging responsible gambling. Through “Have a game plan,” AGA has started working with various sports organizations, such as the PGA Tour and NASCAR to raise awareness for responsible betting in the country.