Record-breaking Super Bowl bets
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Record-breaking Super Bowl bets

Categories: other games, sports betting Posted on 13 Feb 2021 69 0

This year's Super Bowl proved once again to be America's favourite football game. The 55th Super Bowl was played at Raymond James Stadium in Tampa, Florida, and released on Sunday, February 7, in front of a live audience of more than 24,000 viewers and millions of fans behind TV screens. The winner of the National Football League (NFL) for the 2020 NFL season was chosen for the contest. The Buccaneers of Tampa Bay faced the Kansas City Chiefs and won 31-9.

This did not deter the millions of sports fans who wanted to put a legal bet on the Super Bowl, even though the COVID-19 limitations are still in place across the U.S. The American Gaming Association (AGA) predicted last week that about 23.2 million Americans will wager on the Super Bowl, marking a 63 percent rise year-on-year.

In states where sports betting is legal, sports fans did not disappoint and put record-breaking sums of money into place. As a consequence, millions of payouts were charged, while operators still made a decent profit and boosted tax revenues at the same time.

New Jersey, Illinois, and Colorado

Elsewhere, this year, sports fans in Atlantic City, New Jersey, put double the number of wagers on the Super Bowl compared to 2020. Atlantic City's casinos and horse race tracks reported approximately $117.4 million in wagers on Super Bowl. Taking out the expected payouts of approximately $106.1 million leaves the sportsbook operators with income of $11.3 million. If we draw a year-on-year comparison of the total number of Atlantic City Super Bowl wagers, we see a 116 percent rise from $54.3 million in 2020.

In addition to New Jersey, Illinois, where sports betting is also legal, reported a large amount of wagers. Numbers reported on Monday by the Illinois Gambling Board outlined that the overall handling of Super Bowl LV sports betting wagers hit $45,610,513. Of that amount, the bets that sports fans made online were over $42 million. Focusing on taxes, this year's wagers imposed on the Super Bowl will increase Illinois around $1,148,890 in gaming tax revenue.

Latest estimates published by the Gaming Division of Colorado have revealed that a large sum of money was wagered on the Super Bowl. The state's sports fans wagered nearly $31.2 million on Super Bowl. On the day of the game, $17 million of the overall amount was wagered, according to the regulator.

Super Bowl Millions wagered by Nevadans and Tennesseans

On Tuesday, figures released by the Gaming Control Board revealed that around $136.1 million was wagered on the Super Bowl in Nevada. This made the rivalry the state's fifth-highest betting game for sportsbooks. While the outcome was strong, a year-on-year comparison marks a 12 percent reduction in total wagers, given the COVID- capacity restrictions.

Nevada's sportsbooks reported wagers of $154.7 million on Super Bowl LIV last year. Back in 2018, when sports fans invested $158.6 million on the competition, the outcome was even greater. While the total amount of wagers was released by the regulator, it did not reveal what percentage of that amount was bet online.

Back in 2019, the sports betting industry in Tennessee was legalized but was not introduced until last November. Even if it was just a few months ago, the state's sports betting was off to a flying start, producing just 2 months of gross bets of $312.3 million. In addition, in the state, sports fans managed to wager some $20 million on the Super Bowl alone. The first major sporting event that sports fans were willing to legally wager on would add in $320,000 in tax revenue to the education systems of the state.

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