Sports Gambling Surged To Record High During The Super Bowl

Sports gambling during the 2022 Super Bowl surged to record highs as legal gambling became more accessible throughout 2021, The Wall Street Journal reported.

GeoComply, a company that records gambling transactions, told the WSJ that it saw over 80 million transactions over the course of Super Bowl weekend, almost doubling the figure from 2021. Gamblers reportedly created 5.6 million new unique accounts this year, marking a 95% increase from 2021.

“The Super Bowl is the biggest single day for American sportsbooks, and this year didn’t disappoint,” Chris Grove, a gambling analyst at research firm Eilers & Krejcik Gaming, told the WSJ. “It seems like legal U.S. sportsbooks will easily eclipse a billion dollars in total wagers on the game.”

The Super Bowl serves as one of the most valuable events at which gambling companies can advertise their brands and products, leading to millions of new accounts, the WSJ reported.

As sports gambling closes in on being a $40 billion industry, companies like DraftKings, Caesars Entertainment Inc., MGM Resorts International and Entain PLC aggressively compete for market share, the WSJ reported.

The American Gaming Association (AGA) reported that 45 million more people had access to legal sports gambling platforms during the Super Bowl in February compared to in 2021. The gaming industry also reportedly recorded $53 billion in revenue in 2021, shattering 2019’s figure of $43 billion by over 21%.

“These results are nothing short of remarkable,” AGA president and CEO Bill Miller said in the report. “The success of 2021 reflects our commitment to health and safety and how Americans have welcomed gaming’s expansion across the country.”

Meanwhile, the sports gambling industry surged in 2021, recording over $57 billion in handle and nearly $5 billion in revenue, a 177% increase compared to in 2021, the AGA reported.