Silke Jasso
With the growing popularity of legal sports gambling, the number of people betting on the Super Bowl and the amount they are wagering is severely on the rise, although most of the betting is still taking place illegally. According to The Philadelphia Inquirer, it is estimated that 1 in 5 American adults will make some sort of bet, totaling a staggering $16 billion. This is double the amount from last year.
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Despite legal gambling being available in two-thirds of the US, only around $1 billion of the total bet on Sunday’s game is expected to be placed through legal channels such as casinos, racetracks, and companies like FanDuel and DraftKings. The majority of the betting is still being done informally through friends, family, office pools, and so on.
According to the American Gaming Association, approximately 50 million Americans are projected to place bets on the upcoming Super Bowl between the Philadelphia Eagles and the Kansas City Chiefs. This is a 61% rise from the previous year.
However, some experts in addiction warn that the aggressive promotion of sports betting could lead to a heavy increase in gambling-related problems.
“As sports betting becomes more widespread, the likelihood of gambling problems also increases,” Keith Whyte, executive director of the National Council on Problem Gambling, stated.
Currently, 33 states and Washington D.C. have legalized sports betting and more than half of all American adults reside in these markets.
“Every year, the Super Bowl serves to highlight the benefits of legal sports betting,” stated Bill Miller, the gambling association’s CEO and president. “Bettors are transitioning to the protections of the regulated market … and legal operators are driving needed tax revenue to state across the country.”
As of Tuesday, the odds of the Philadelphia Eagles defeating the Kansas City Chiefs were slightly in favor of the Eagles, with a 1.5-point advantage, as stated by FanDuel, the official odds provider for the Associated Press. The betting community is evenly divided on which team will win, according to the American Gaming Association.
