Casino Industry Says 97 Percent Of Bets On NFL Super Bowl Will Be IllegalAbout $4.76 Billion Expected To Be Wager On Super Bowl 52 |
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The betting action on the upcoming Super Bowl is expected to be at record levels. The casino industry says about $4.76 billion will be bet on the big game, an increase of about $60 million compared to last year’s contest.
According to the American Gaming Association, Americans will risk the massive sum almost entirely through illicit channels. Only about three percent of Super Bowl bets are expected to be legally wagered through licensed sports books in Nevada, the only U.S. state exempted from the federal ban on full-scale sports betting.
However, the U.S. Supreme Court is currently mulling over whether or not to open the door for all 50 states to have sports books. According to the AGA, the Supreme Court will “likely” declare the Professional and Amateur Sports Protection Act of 1992 unconstitutional.
“Thanks to the failed federal ban on sports betting, Americans are sending billions of their hard-earned dollars to corner bookies, shady offshore operators and other criminal enterprises,” said Geoff Freeman, president and CEO of the American Gaming Association. “The big question we’re asking: Is 2018 finally the year when governments, sporting bodies and the gaming industry work together to put the illegal sports betting market out of business?”
Super Bowl 52 between the New England Patriots and Philadelphia Eagles will play out Feb. 4. The Supreme Court decision is expected by June.
The NFL was historically a staunch opponent to legalized gambling, but last year the league approved a plan for the Oakland Raiders to move to Las Vegas, effectively ending that long-held position.
The casino industry and the NBA have butted heads in recent weeks over a rapidly changing political climate regarding sports betting. The NBA is pursuing a goal to have states pay it a so-called “integrity fee” for allowing bets on its games. The problem, according to the AGA, is that the fee would take a huge chunk out of revenue generated by sports books.
“The NBA is an important stakeholder and we are pleased to see their active engagement,” Freeman said. “Unfortunately, their proposal would replace a failed federal law with bad state policy – robbing law enforcement, regulators and state taxpayers of additional resources."
The AGA says that an integrity fee would hamper the legal sports betting industry and not push out the black market. Americans bet an estimated $150 billion each year on sports. The majority of the country thinks the activity should be permissible, according to various polls.
The Nevada casino industry saw a record $138.5 million bet on Super Bowl 51, which the AGA predicts will be about the same this year. The books retained about $11 million of those wagers. The record for revenue was the $19 million from 2014. Here’s a look at the results from Super Bowl betting over the last 10 years, per the Nevada Gaming Control Board.
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