According to new estimates released this week by the American Gaming Association, Americans will bet $4.2 billion on Super Bowl 50 between the Denver Broncos and Carolina Panthers.
That’s up eight percent over last year.
Nearly 97 percent of those bets — $4.1 billion worth — will be wagered illegally, standing in stark contrast to the approximately $115 million bet legally on the New England Patriots-Seattle Seahawks game last year. In fact, the illegal market is 35 times greater than the legal marketplace.
“As Americans celebrate a milestone Super Bowl, they’ll also bet a record amount on the Big Game,” says Geoff Freeman, president and CEO of the AGA. “Just like football, sports betting has never been more popular than it is today. The casino gaming industry is leading the conversation around a new approach to sports betting that enhances consumer protections, strengthens the integrity of games and recognizes fans’ desire for greater engagement with sports.”