LAS VEGAS — The topic of sports gambling in football will get more attention than ever this week with Super Bowl LVIII in Las Vegas.
It’s the first time the gambling capital of the world is hosting the Super Bowl. Advertisements for companies like MGM Grand, DraftKings and FanDuel are a lock to inundate viewers. Those in Vegas for the game get a week to mosey up to sportsbooks and place wagers on the big game, getting action in all things from player props to the coin toss to the result.
So far, most of the public bets are coming in on the Chiefs’ side according to multiple publicly available data sources. Betting site Scores and Odds reports that as of Monday morning, 71% of the bets placed and 68% of the money wagered is on the Chiefs, who are 2.5-point underdogs.
According to one betting official for MGM, the biggest bet placed in the state of Nevada, as of Sunday afternoon, was a $120,000 ticket on the 49ers moneyline. That means a 49ers victory would win the bettor $92,304.
The second biggest wager, the MGM sportsbook employee said, was a $110,000 bet on Chiefs +2, before the line moved to +2.5.
Sports gambling has increased in popularity annually, especially after the Supreme Court overturned a federal law prohibiting sports gambling in 2018. Before that ruling, Nevada was the only state with legalized sports betting. Now, 38 states have legal sports betting, many of which include online options that make betting accessible at the tap of your finger. California, however, does not have legal sports gambling.
Last year, according to Forbes, a record $153.1 million was bet on the Chiefs-Eagles Super Bowl, with the industry winning $11.2 million.