We are less than a week away from Super Bowl LII and the sportsbooks are going crazy. According to the latest release by the American Gaming Association, Americans expected to bet $4.76 billion on Super Bowl LII. This is $6 million more than last year’s Super Bowl.
Keep in mind that the 2017 Super Bowl betting was a record year. Las Vegas actually made out with a 7.9% return!
As always, the AGA made their announcement just a few days before Super Bowl Sunday where the Philadelphia Eagles will take on the New England Patriots. According to their release, only 3% of the $4.76 billion will actually be wagered at legal sportsbooks. The majority of the 2018 Super Bowl wagers will take place at illegal places. Such places include: offshore sportsbooks and local corner bookies and online bookie operations.
This release also happens to coincide as the U.S. Supreme Court is about to release about sports betting. This ruling will decided on whether sports betting will be legal outside of Nevada. A decision is expected to take place between March of 2018 and June of 2018. In addition, this also coincides with the NBA stating their semi-support towards sports betting. If sports betting becomes legal, they want to get 1% of the total amount wagered on its games.
AGA President and CEO, Geoff Freeman who is an advocate towards legalizing sports betting across the United States stated that “Thanks to the failed federal ban on sports betting, Americans are sending billions of their hard-earned dollars to corner bookies, shady offshore operators and other criminal enterprises”.
Offshore Sports Betting expect even more Super Bowl Betting this Year
On the other hand, according to a survey from the top sportsbook pay per head provider, Super Bowl wagers this year are expected to be 3.6% higher than the previous year. This is based on an increase in new players and a strong retention rate.
Add a strong economy to the mix and the popularity of both teams at this year’s Super Bowl makes for a great wagering combination. The sportsbooks are doing their best best to cash in on the Super Bowl. Some have added several hundred Super Bowl prop bets. Others have added contest and Super Bowl Squares to entice more betting.
In most years, the Super Bowl has been a great money maker for the sportsbooks. According to statistics from the Nevada Gaming Control, sports betting operations have come out on top in 25 of the last 27 Super Bowls. What does this mean for a bettor? Follow the money and bet with the books!
What will also help is the recent $1 million bet on the Eagles by a single bettor. The bet was the Eagles at +165 money line taken by William Hill U.S. This has brought some attention to the NFL wagering world while at the same time showing that only a legitimate sportsbook could have taken such a large bet.