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We are only days away from Super Bowl LVI and all signs point to one of the biggest sports betting handles in history, with industry experts predicting US bettors will spend about $8 billion gambling on this season’s Big Game, almost twice as much as last year’s $4.3 billion handle.
The matchup is a great one – QB Joe Burrow’s Cincinnati Bengals travel to Los Angeles to face Matthew Stafford’s L.A. Rams in their home stadium – and the ‘home team’ Bengals are the 4-point underdogs, most likely given their lack of recent experience in postseason play.
This projected massive one-year increase in betting handle makes sense given how legal sports betting has begun to take off in the US, a surge in legal gambling markets made possible once the Supreme Court overturned PASPA in 2018.
Now individual states have the right to choose if they want that activity in their state, and over thirty have chosen to do so, a shift in US policy that has led the way to a record number of wagers on the NFL’s final game.
What sports fans have known forever is that putting a bit of money on the game makes it much more exciting, and this year more than 31 million Americans are reportedly planning on placing some type of wager on Super Bowl LVI.
Whether it’s betting on the Big Game’s spread or finding the perfect player parlays or prop bets, you can gamble on just about any aspect of the game including the performance of the quarterbacks, the placekickers, and the potential SB-MVP.
Last season, about 20 million Americans bet on Super Bowl LV, so that means the industry could increase that number by at least 35% and now 31 million bettors are expected to break open their betting kitties and make this Bengals vs Rams showdown even more fun.
It’s been happening in the Empire State since the first of the year.
Two states top the list for the most potential Super Bowl gamblers this season, with Nevada and its Vegas bettors most likely about to create a $175 million Super Bowl LVI handle and New York also expected to bet big with $160 million as the projected total of bets placed there.
It will be interesting to see if for the first time ever Las Vegas gets outplayed for this event, but New York has a chance to do that, and given the industry-high 51% tax rate it charges sportsbooks on their revenue, a lot of that money will go back into the state.
Expect these types of Super Bowl handles for now on, with those numbers most likely increase as more and more states gradually join the 31 others who are already taking advantage of a legal, regulated, and taxed sports betting market.
Regardless of who wins the Big Game on Super Bowl Sunday – the Bengals or the Rams – the true winners here are the US bettors who no longer have to trust offshore sportsbooks and illicit bookies to handle their sports betting action.
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Mike Lukas is a retired standup comedian turned freelance writer now living in Dallas, Texas, originally from Cleveland, Ohio. His love for the game of football and all things Cleveland Browns turned Mike into a pro blogger years ago. Now Mike enjoys writing about all thirty-two NFL teams, hoping to help football gamblers gain a slight edge in their pursuit of the perfect wager. Email: [email protected]More info on Mike Lukas
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