The Super Bowl 2024 is just around the corner, and experts are predicting that it will be a huge event for betting. According to Eilers & Krejeck Gaming, the event is expected to generate a whopping 1.25 billion dollars in regulated bets, making it the most wagered-on sporting event in the United States.
EKG also noted that the Super Bowl will account for 1% of the total handle in the nation. While the firm did not provide revenue estimates, it believes that sportsbook operators will be focused on acquiring new users and cross-selling other products. In addition, EKG forecasts that live or in-game betting will make up 10% to 15% of the Super Bowl in 2024.
However, the firm believes that these estimates may be on the conservative side. It pointed out that FanDuel previously revealed that 44% of its handle comes from in-play betting, with football typically skewing lower. Despite this, the Super Bowl is still expected to attract a large number of recreational users who prefer pre-match wagering.
Las Vegas, as the host city for the entire event, is expected to take advantage of its status as a casino hub and account for 12.8% of the Super Bowl handle. New York, on the other hand, is expected to be the largest sports betting market, with a significant portion of the wagers flowing through online sportsbooks.
Illinois, New Jersey, and Pennsylvania are also expected to be among the top five states for betting during the Super Bowl. EKG also made some interesting predictions about specific states, such as Michigan, which is expected to contribute around 3% of the Super Bowl handle, beating out other states like Virginia, Arizona, Colorado, and Maryland.
Overall, EKG believes that the estimates for the Super Bowl betting handle could even be surpassed, given the massive scale and popularity of the event. So, it seems that the 2024 Super Bowl is shaping up to be a major event for sports betting across the country.