Super Bowl Betting Reaches New Heights
The Super Bowl: A Record-Breaking Betting Frenzy
GeoComply’s recent report revealed a significant surge in geolocation checks during the Super Bowl LVIII weekend, indicating a 22.3% year-on-year increase.
Super Bowl Betting Reaches New Heights
The Kansas City Chiefs, victorious for the second consecutive Super Bowl, triumphed over the San Francisco 49ers with a score of 25-22 on Sunday, February 11th. The game, held at Allegiant Stadium in Nevada, was closely monitored by GeoComply for betting activity throughout the weekend.
The monitoring encompassed states where sports betting is legally permitted in the US, as well as the unincorporated territory of Puerto Rico. Notably, this did not include Florida, where the Seminole Tribe launched online betting with Hard Rock Bet in November.
GeoComply emphasized that the rise in geolocation checks is a promising indicator for the legal betting landscape in the US. The company attributed this growth to the transition towards a regulated, taxed, and secure betting environment.
Unprecedented Pre-Game Activity
GeoComply’s report also highlighted record-breaking pre-game activity. In the moments preceding kickoff, a staggering 14,750 transactions were recorded per second, nearly double the figure from the previous year.
GeoComply further observed a 15% increase in the number of active accounts, reporting a total of 8.5 million accounts across 28 legal US markets. Additionally, GeoComply reported over 1…
A fortnight before the Super Bowl LVIII commenced, seven million fresh users established accounts on authorized online wagering platforms.
Observing the entire 2023-24 season, GeoComply’s customers added over 13.7 million new accounts, a 28% surge from the preceding season.
“The legal marketplace is undergoing a metamorphosis, and with Las Vegas hosting the inaugural Super Bowl, history was made, and the record-breaking results we witnessed did not disappoint,” stated Anna Sainsbury, co-founder and chief executive officer of GeoComply.
“We are proud to contribute to the expansion of the regulated industry, prioritizing responsibility, safety, and player protection. Compliance is our mission. With this commitment, we endeavor to assist our clients in expanding their player base reliably and responsibly, and propel their business forward.”
“The annual growth of the legal market is positive news for consumers and states, and negative news for those marginalized illegal offshore sports betting enterprises.”
Sin City Super Bowl
Additional data on Super Bowl LVIII betting volume is likely to be released in the forthcoming weeks. Prior to the contest, the American Gaming Association (AGA) predicted that betting activity for the game would be a record-breaking occurrence.
The AGA stated that Americans would wager $23.1 billion (£18.3 billion/€214.4 billion) on the Super Bowl. This is based on a survey of 2,004 adults to forecast betting activity, and is anticipated to be 35% higher than Super Bowl LVII.
An estimated 67.8 million individuals are expected to participate in betting, a 35% increase from Super Bowl LVII.
Among the 42.7 million individuals placing wagers, a significant portion will do so virtually, at sports betting establishments, or at traditional betting shops.
Prior to the game, Buck Wargo penned a unique piece for iGB examining the potential impact of hosting the Super Bowl on Las Vegas.
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