Americans Expected to bet nearly $5 billion on Super Bowl, Most of it Illegally
The 2018 Super Bowl will be taking place on Sunday between the New England Patriots and the Philadelphia Eagles. It is expected that the 2018 Super Bowl will break Nevada’s record for the most money wagered on a single big game. Sportsbooks in Nevada are expecting nearly $140 million worth of wagers, but this represents a tiny fraction of the total amount of money that American players are expected to bet.
Super Bowl bets Being Made Illegally
A report from the American Gaming Association has estimated that Americans will actually wager around $4.76 billion on Sunday’s Super Bowl. A massive 97% of these wagers will not go to America’s legally licensed sportsbooks. Due to the federal ban on sports betting, in all but four states, most Americans will be placing bets at illegal and unlicensed corner bookies, offshore sports betting sites, or even through other criminal operations. Not only does this have the potential of putting players at risk of being scammed, but it also deprives the government of millions of dollars in taxes.
The question on everyone’s mind is whether 2018 will be the year to change all that. As we all know, the Supreme Court heard New Jersey’s argument in December 2017 and is considering repealing the ban on sports betting. The Supreme Court should reveal its decision within the next few months, and most people expect them to side with New Jersey. This will allow all states to decide for themselves if they want to legalize sports betting.
Patriots Favorites for Super Bowl
No everyone is thrilled with the idea of sports betting becoming legal. The NFL commissioner has raised some concerns about repealing the federal ban. He seems to believe that this could jeopardize the integrity of professional sports, with outside forces trying to influence the results.
Currently, the New England Patriots are the favorite to take the win in Sunday’s Super Bowl. When betting first opened, bookmakers offered quite long odds on the Eagles, spotting them as many as 6.5 points. However, as bets have come in on both sides, bookmakers have narrowed the odds, with the Eagles now on 4 or 4.5 points at most sportsbooks. No matter what happens, the Super Bowl should be good fun to watch.