GLENDALE, AZ — Sports betting has exploded in popularity, and Arizona is the first state to host a Super Bowl with legalized sports betting.
It is becoming a bigger and bigger part of the game and industry analysts expect a massive uptick in betting this year compared to last.
A survey from the American Gaming Association estimates more than 50 million adults, roughly one in five, will make a bet on Super Bowl LVII.
They expect total wagers to reach $16 billion, a 61% increase compared to Super Bowl LVI.
The reason is that 33 states in America now have some form of legalized sports betting.
Three more recently passed laws allow sports betting but they are not yet active. Eight more states have active ballot initiatives or bills allowing for sports betting.
There are only six states where sports betting is not codified by law. The biggest is California where two propositions failed spectacularly this past November.
Aside from California, sports betting has become a big business in many states.
In New Jersey, $34 billion was put on the line, and it's big money in Arizona as well. The state ranks in the top 10 with just over $7 billion in wagers since the law passed in 2021.
According to data from the Department of Gaming, Arizonans bet nearly $700 million during last year’s March Madness. The data only goes back to November, but the expectation is, numbers for this month will blow through that record.
It’s not just online betting either. There are several venues all over the Valley where sports books operate, from sports bars to tribal casinos.
State Farm Stadium itself has a sports book operated by MGM.
Using the current odds posted by BetMGM, the Philadelphia Eagles are slightly favored to win.
A $50 bet on the Eagles would have a total payout of $90, which includes the wagered amount. The odds are close, however, as the same bet on the Kansas City Chiefs would payout $102.50.
