Super Bowl Betting Expected to Reach Record Level
Without question, Americans love their sports. Whether it’s at the collegiate or professional level, the biggest games often draw national attention and rile the passion of even the most casual of fans. However, for better or for worse, that passion often translates into a lot of sports betting.
This year’s Super Bowl matchup between the Seattle Seahawks and the New England Patriots is scheduled for today at 5:30 p.m. CST. The Super Bowl is by far the most heavily wagered single game in America. The American Gaming Association (AGA) estimates that Americans will legally wager a record $1.76 billion on tonight’s big game. This is up nearly 27% from last year’s total of $1.39 billion. When you include non-legal bets, that number soars to more than $20 billion, according to a 2024 estimate by the AGA. Non-legal betting includes using a bookie, unregulated or offshore betting sites, casual bets between friends and square pools.
While the Super Bowl is the most heavily wagered single game, the most heavily wagered sporting “event” is March Madness. This is the collective name coined for the men’s and women’s NCAA basketball tournaments that start in March of each year. Each respective tournament is a 64-team seven-round gauntlet to determine the national champion. For last year’s men’s and women’s tournaments, the AGA estimates a record $3.1 billion was legally wagered, up 15% from the prior year.
Currently, there are two legal ways you can bet on a professional or college game. You can visit a casino where many offer what are called “sportsbooks” to place a wager on your game of choice. The second way is online. Many casinos now have their own online sportsbooks. There is also a growing list of companies – such as DraftKings or FanDuel, among others – that offer legalized sports gambling.
Legal sports betting has quickly become big business. The ongoing surge in sports betting can be traced back to the 2018 U.S. Supreme Court decision that struck down the federal ban that prohibited wagering on sporting events. This single court decision immediately opened up a floodgate of casinos, companies and cash-infused investors willing to step in and satisfy Americans’ desire to bet on sports.
Today, sports betting is allowed in 39 states plus the District of Columbia. Both Illinois and Iowa are two of those states that allow legal sports betting. In 2024, according to the AGA, Americans placed a record $149.7 billion in legal wagers on professional and college sporting games. For 2025, industry experts project total legal wagers to have increased to $160-180 billion. In 2024, those wagers generated a massive $13.7 billion in revenues for the gaming industry. Through the first 11 months of 2025, the AGA reports that revenues from sports betting have already exceeded $15 billion.
As for individual bets on today’s game, Caesars Sportsbook has so far reported the largest single wager at $2 million which was placed on the Patriots to win. Other sportsbooks have also reported single wagers of at least $1 million. But even if you don’t place a single bet on this year’s game, the Super Bowl still has a lot to offer for everyone.
Mark M. Grywacheski, Investment Advisor
Quad Cities Investment Group is a Registered Investment Adviser.
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