Only a few days remain until Super Bowl 55. Many analysts expect Sunday’s game between the Chiefs and Buccaneers to be one of the most-watched championship games in recent history. Many retail sportsbooks now expect to see a significant drop in Super Bowl betting due to the regulations set in place around the country.
It’s tough news for the companies that operate these sportsbooks. Fortunately, many will end up seeing a huge amount of revenue come in via their online sports gambling operations. Today, we’ll discuss how this year’s Super Bowl might impact bookmakers.
Let’s get into it!
Online Sports Betting Revenue Surged Throughout 2020
In just a few short years, the US sports betting industry grew to become the world’s biggest. After PASPA was removed in mid-2018, states began legalizing and regulating this industry left and right. 2020 ended up being one of the most successful years for the sports betting industry across many states.
That, of course, applies to the states with regulated sports betting industries. Places like New Jersey immediately began seeing massive revenue surges once professional sports resumed again back in June. This trend did not slow down as the year progressed.
Throughout 2020, New Jersey set several new sports betting handle records. The same can be said for Colorado, which launched its sports betting industry early in the year. It’s been a hugely important form of revenue for many casino companies across the country.
Online sports betting has been the real money-generator lately. Land-based sports betting revenue is actually down across much of the country. It’s not a surprise, as many states are limiting the number of people able to visit retail sportsbooks.
Sports betting companies across the country are now seeing a huge surge of wagers on Super Bowl LV. This year’s game is expected to be one of the biggest in recent history. As you might expect, the majority of bets on this game are being placed online.
It could take years for the land-based gambling industry to recover. The American Gaming Association is now shedding light on how retail sportsbooks will fare with Super Bowl LV.
AGA Expects a 37% Decrease in Super Bowl Bets This Year
For decades, only land-based sports betting was available in the United States. Nevada was the sports betting hub of the country and millions flocked here every year to place money on their favorite teams and players. Eventually, online sports betting websites began operating throughout the country.
Many states now have regulated online and land-based sports gambling industries up and running. It’s proving to be extremely valuable at a time like this when money is needed. Interestingly, the American Gaming Association expects betting on Super Bowl LV to decrease significantly this year.
The AGA claims that US sportsbooks will see an estimated 37% decrease in wagers placed on Super Bowl LV compared to the year prior. The group believes the inability to visit land-based sportsbooks will lead to this decrease. Online Super Bowl betting, however, is expected to increase significantly.
Research shows that internet Super Bowl betting will increase by 63%. Bill Miller, President and CEO of the AGA, spoke about this situation to the media this week. Despite the drop in land-based betting, he still expects Super Bowl LV to be the most-wagered-on sporting event in history.
“This year’s Super Bowl is expected to generate the largest, single-event legal handle in American sports betting history,” Miller said. “With a robust legal market, Americans are abandoning illegal bookies and taking their action into the regulated marketplace in record numbers.”
Not every state has a regulated sports betting industry up and running. That doesn’t mean residents here are unable to place bets on the NFL championship, though. There are a huge number of world-class online sportsbooks now operating in almost every state around the country. These sites are still offering odds on the big game!
Looking at the Last-Minute Odds on Super Bowl LV
It’s becoming clear that land-based Super Bowl betting won’t be quite as popular this year. Many football fans are choosing against visiting a crowded retail sportsbook due to health concerns. Most of these fans are instead choosing to make their wagers online.
Those still looking for a fantastic internet sportsbook may want to consider Bovada. This site launched a decade ago and has grown to become one of the biggest internet sportsbooks in the world. It’s safe, modern, and offers some amazing odds on the big game this Sunday.
Bovada currently lists the Kansas City Chiefs as the -165 favorites. Many experts believe Kansas City’s offensive game is simply too powerful for the Buccaneers. If Patrick Mahomes is on-point, this might be an easy win.
The Tampa Bay Buccaneers turned things around lately and looked incredible throughout the playoffs. Tom Brady seems to have finally found his groove on the team and the Buccaneers are now listed as just the +145 underdogs. It wouldn’t be a shock to see Tampa Bay pull off the upset here.
There are a huge number of fun prop bets available for Super Bowl LV, too. Some of these are offering fans huge opportunities to win big.
Do you expect Super Bowl betting to increase this year? Which team do you expect to win the game? Let us know in the comments section below!
Kevin Oldroyd
A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. …
