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SuperBowl Is About to Set a New Betting Record

SuperBowl Is About to Set a New Betting Record

Some studies claim that the Los Angeles Rams fan base is the worst in the NFL. However, that might change this weekend, even if only temporarily …

This Sunday, the Rams are playing in the Super Bowl against the Cincinnati Bengals at California's SoFi Stadium, home to the Rams and the Los Angeles Chargers.

But playing at home stadium isn’t the only reason many Americans, no matter where they live, will root for the Rams.

According to a new report by the American Gaming Association, Americans from states that legalized sports betting will wager an estimated $7.61 billion on the Super Bowl game. With the wager up 78% from last year, the 2022 game will be a record-setting Super Bowl for sports betting.

The report said that some 31.4 million Americans plan to bet on Super Bowl LVI, a 35% increase from 2021 

As for the upcoming game, bettors currently slightly favor the Rams, with 55% saying they expect to bet on them to win, compared to 45% on the Bengals. 

Sports betting picked up the pace in 2018 when the Supreme Court overturned the Professional and Amateur Sports Protection Act. Under the act, sports wagering was illegal everywhere but Nevada and several other states.

Currently, there are some 30 U.S. states where sports betting is legal, including 19 that allow online sports wagering. This means some 100 million Americans can place a legal bet.

The Sports Betting Alliance said that in 2021, Americans legally wagered more than $52.7 billion in sports betting, nearly double compared to 2020. Of the total amount, the report said that oddsmakers pocketed “only” $4 billion last year. 

Some 19% of adults aged 21-34 have bet on sports at least once a week last year, compared to 23% of U.S. adults aged 35-44, according to data intelligence agency Morning Consult.

“Given the proliferation of online sports betting and operators’ focus on digital marketing, it should come as no surprise that younger Americans are the most inclined to place wagers on games,” the report read.

For Super Bowl 2021, only 20 states had legal sports betting. 

There is also likely to be an increase in revenue compared to last year’s game, whose attendance was impacted by the pandemic. 

Attendance at the game between Kansas City Chiefs and the Tampa Bay Buccaneers in the Raymond James Stadium in Tampa, Florida, was limited to 22,000 people, about a third of the stadium’s capacity.  

Also, many traditional advertisers, such as Budweiser, decided not to be part of the Super Bowl, whether their business was hurt by the pandemic or a decision was made to spend elsewhere. 

According to NBC, which is broadcasting this year's game, and is already sold out of Super Bowl ads, for a 30-second ad during the Super Bowl, some advertisers have paid as much as $7 million. The average cost is $6.5 million, up from a $5.6 million average for 2019 and 2020.

For the 2022 Super Bowl, there are more than 30 new advertisers compared to last year’s game, representing about 40% of the total advertisers. NBC’s report said that the categories with the largest unit growth in this year’s Super Bowl include automotive, technology, entertainment, travel and health.

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