The 2024 Super Bowl game, held at the Allegiant Stadium in Las Vegas between the San Francisco 49ers and the Kansas City Chiefs, surpassed the $179.8 million wagered on the event, making it the highest wagered Super Bowl to date. However, the sportsbooks’ total win was only $6.8 million, due to a 3.7% hold percentage. It is worth noting that this is the fourth lowest sportsbook win for a Super Bowl since 2015.
The American Gaming Association (AGA) predicted that Americans would place a record-breaking $23.1 billion in bets on this year’s Super Bowl. A survey conducted by the AGA indicated that 67.8 million people were expected to place wagers, showing a 35% increase compared to previous years. Additionally, the survey found that 11% of all bettors were likely to place their bets with licensed online sportsbooks, indicating a growing trend of Americans opting for legal betting options.
GeoComply, a fraud prevention solutions provider, witnessed a significant 22.3% year-on-year increase in geolocation checks during Super Bowl LVIII. The minutes before kick-off saw a peak of 14.75 thousand transactions per second, setting a new record and nearly doubling the previous year’s peak. This increase in geolocation checks reflects a positive shift towards a regulated, taxed, and safe betting environment in the US. Throughout the 2023-24 National Football League (NFL) season, GeoComply customers added over 13.7 million new accounts, a 28% growth compared to the previous season.
Nevada, a prominent player in the world of sports, achieved a record-high gambling revenue of $15.5 billion in 2023, exceeding the previous annual record by 4.6%. Of the sports pool revenue, $240.7 million came from mobile betting. With Las Vegas set to have teams in the NFL, National Hockey League, and Major League Baseball by the end of 2025, companies like BetMGM are looking to tap into the influx of sports events in the city. BetMGM’s CEO, Adam Greenblatt, has expressed that 2024 will be the year the operator “unlocks” Las Vegas, as evident by their success during the Formula One race held in the city, where they received three times the number of bets compared to any other F1 race in their history.
