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Super Bowl Betting Set to Surpass $25 Billion Milestone by 2025

by Docsports.com - 11/7/2024

Super Bowl betting study Patrick Mahomes Kansas City Chiefs

A new study by Doc’s Sports examines the potential total betting handle for the Super Bowl 2025. By examining historical data and leveraging robust statistical techniques, the study provides a comprehensive overview of the Super Bowl's place in the sports betting landscape.

Key Takeaways

  • The Super Bowl wagering amount has increased by 285% from $6 billion in 2019 to $23.1 billion in 2024, demonstrating unprecedented market expansion.
     
  • Legal sports betting is now available in 38 states as of 2024, compared to just 13 states in 2019, representing a 192% increase in market accessibility.
     
  • Bettor engagement has grown significantly, with the number of estimated bettors increasing from 22.7 million in 2019 to 67.8 million in 2024, marking a 199% increase in participation.

$23 Billion in 2024

The Super Bowl wagering amount has grown strongly, nearly quadrupling since 2019 and reaching $23.1 billion in 2024. Projections for 2025 suggest that the wagering amount could surpass $25 billion, indicating a robust upward trend. 

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This growth is mirrored by increasing bettor participation, with the 2024 Super Bowl (LVIII) witnessing record-breaking participation of 67.8 million estimated bettors, up from 50.4 million in 2023. Looking ahead, projections for 2025 indicate potential growth to 73 million bettors, underscoring the event's expanding appeal. The expansion of legal sports betting has played a crucial role in this growth. The number of states with legal sports betting has increased from 14 in 2020 to 38 in 2024.

Top Event in the Sports Calendar

The Super Bowl consistently outperforms other major events in terms of total wagering amount, with a reported $23.1 billion in 2024, compared to $15.5 billion for March Madness and $6 billion for the World Cup Final. This substantial lead reinforces the Super Bowl's status as the premier event in the sports betting calendar.

Event

Total Wagering Amount (in Billions)

Super Bowl LVIII

23.1

March Madness

15.5

World Cup Final

6

College Football Championship

1.5

NBA Finals

1

Food and beverages traditionally lead as the largest spending category during the Super Bowl, with expenditures reaching $17.3 billion. Nonetheless, sports betting is now ranking number one with $23.1 billion. 

The projected growth in Super Bowl wagering amount and bettor participation suggests that the sports betting industry is still expanding and could even become legal in more states in the future. This growth has the potential to surpass other major spending categories, further solidifying the Super Bowl's position as a leading event in the sports betting calendar.

Methodology

The study utilized a diverse range of data sources to analyze Super Bowl trends from 2020 to 2025. Key sources included reports from the American Gaming Association, state gaming commissions, and the UNLV Center for Gaming Research, which provided historical data on betting volumes and legislative changes. Additionally, data on food and beverage expenditures were sourced from industry reports and market research studies, offering insights into consumer spending patterns during the Super Bowl. Historical data compilation focused on total betting volumes, legal online betting, and food and beverage spending, with projections for 2025 using linear regression and growth rate calculations. 

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