Will Super Bowl LVII Determine US Sports Betting Future?
The upcoming Super Bowl could help determine the future of sports betting in several high-profile states.
Sports betting in the United States is growing. Sportsbooks have launched in 31 states and are due to appear in another five. Live commentators read betting odds during games and media giants air gambling-dedicated shows. The Super Bowl is the crown jewel in American sports betting.
Five of the top ten favorites to reach this year's Super Bowl are from states without legal sports betting.
Americans would bet $7.6bn on the Super Bowl in 2022. California and Ohio missed out on a record-breaking amount of bets. Sports betting in America produced $69.5bn in handle through October 2022, including $5.4bn revenue and $1.2bn state taxes.
The Super Bowl is in Arizona this year. Five of the ten favorites to make the Superbowl are from states without legal sports betting markets. The previous Super bowl in California brought in $21m for California operators and $2.1m in taxes for the state. This year's game will be in a different location. It will also be played in an area with more local fans. The Miami Dolphins and Dallas Cowboys are also popular in their states.
