The Margin: At the Super Bowl, fans will be able to legally bet on the game on their phones — a first

by | Feb 7, 2023 | Stock Market

A whopping 50.4 million Americans are expected to place some kind of wager on the 2023 Super Bowl between the Philadelphia Eagles and the Kansas City Chiefs, according to estimates from the American Gaming Association (AGA). And for the first time ever, the Super Bowl is being played in a state where online sports betting is legal. Fans attending the game in Glendale, Ariz., can legally place bets on their phones while the game is in progress, or go to the famous BetMGM Sportsbook that is located at State Farm Stadium to place their bets.

“The fact that the Super Bowl is being played in a legal sports-betting state was almost unthinkable five years ago,” said AGA President and CEO Bill Miller. “It’s a testament to the progress we’re making.” Today, 33 states and Washington, D.C. have at least some form of legal sports wagering, according to a tally from the AGA. The 2024 Super Bowl will take place in Las Vegas, the gambling capital of the world. As more states have made sports gambling legal in recent years, legal Super Bowl bets have skyrocketed: $300 million in 2020, $500 million in 2021 and $950 million in 2022. And this year the total amount legally wagered on the Super Bowl is expected to reach a record $1.1 billion, according to analysts at PlayUSA. Read on: 5 weird Super Bowl prop bets, including the ‘color of Gatorade poured on winning head coach’ and ‘coin toss outcome’ The total amount of money wagered on the Super Bowl is actually expect …

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