AGA: Americans To Bet $4.2B On Super Bowl
Total Amount Dwarfs Bets Made In Nevada Casinos
The amount of Super Bowl betting activity nationwide will exceed a third of all gambling revenue seen by Nevada casino’s in 2015, according to the casino industry’s top lobbying group on Capitol Hill.
The American Gaming Association said this week that an estimated $4.2 billion in bets on Super Bowl 50 between the Denver Broncos and Carolina Panthers will be eight percent more than last year. According to the AGA, nearly 97 percent of those bets are done outside of Nevada’s regulated sports betting industry.
Since 2005, Nevada sports books have lost on the game just once. That was in 2008 when the New York Giants beat the New England Patriots by a score of 17-14. Last year, Silver State casinos won $3.2 million on $116 million in wagers. The hold percentage was 2.8 percent, the lowest since the 2011 Super Bowl. In 2014, the state saw records in both wagers and amount won.
“As Americans celebrate a milestone Super Bowl, they’ll also bet a record amount,” AGA president Geoff Freeman said in a statement. “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.”
The AGA also found that Americans wagered $149 billion on sports in 2015, up from nearly $145 billion in 2014. The growth has prompted states like New Jersey to consider sports books at casinos, though the leagues and the NCAA have fought against a state-by-state patchwork of sports betting expansion. The activity is controlled by a 1992 federal law that limits it to just Nevada and a few other states. Delaware has limited betting on sports.
Here’s a look at Nevada’s results from the past 10 Super Bowls.
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