With only hours remaining until kickoff, numerous studies and surveys have highlighted the giant that is Super Bowl betting. 

H2 Gambling Capital, a worldwide expert in gambling sector market data, released a report last week forecasted a historic high in bets from onshore licensed sportsbooks in the U.S. – $1.6 billion. New York is expected to surpass Nevada in handle ($181 million, compared to Nevada's $177 million). 

AGA: $1.39B Wagered on the Major Event 

The American Gaming Association predicts that Americans will legally bet a historic $1.39 billion on Super Bowl LIX. 

This morning from BetMGM: “With Super Bowl wagers still coming in, BetMGM requires the Eagles,” stated Christian Cipollini, Senior Trading Manager at BetMGM. "We're also rooting for a red/pink Gatorade shower, Saquon to refrain from scoring, and the defenses to excel for the Under." 

Amid the thrill of the major event, it's also an opportune moment for groups such as the Campaign for Fairer Gambling (CFG) to promote their important messages. CFG is an independent advocacy organization committed to "a bipartisan agenda aimed at promoting both consumer protection and reducing harm in gambling." 

In a statement issued on Friday, CFG announced that they hired the technical intelligence platform Yield Sec to prepare an estimates report on this year's Super Bowl online betting, aiming to highlight the prevalence of illegal wagering on the event. 

Yield Sec: 75% of Bets Directed to Illicit Operators 

Yield Sec predicts that American online betting will reach $6.4 billion, with three-quarters (75%, or $4.8 billion) directed towards illicit online sports betting operators ($1.6 billion to legal, licensed U.S. sports betting firms). YieldSec forecasts a cumulative of 429 million wagers on the match.

"As an evidence-based gambling reform advocate, I want to understand the truth about the entire online gambling market,” said Derek Webb, Founder of the Campaign for Fairer Gambing. “Yield Sec has an exceptional ability to estimate the total market, including legal and illegal participation. This report shows that the illegal industry continues to grow and that legalization proponents are misrepresenting the benefits of legalization. The American economy and American consumers are paying the price.”

A distinct advantage that illegal operators possess is their ability to provide novelty bets, attracting gamblers beyond the dedicated sports audience. U.S. sportsbooks are unable to provide those. That form of wagering is permitted in Ontario, where we’ve discussed the popularity of betting markets surrounding Taylor Swift. For instance, the wager “Will Travis Kelce propose to Taylor Swift?” presently has odds of +800 for “yes” (receiving 78% of tickets) and -2000 for “no” (22% of tickets, 58% of handle) at BetMGM in Ontario. 

CFG reports that in last year’s Super Bowl, as stated by Yield Sec, there were 350 million bets made on the game, amounting to a total of $5.4 billion. Of that total, 122 million of the bets, amounting to $1.4 billion, were lawful. 

The Impact of Taylor Swift 

Yield Sec predicts that 25% of women will wager on this year's game, rising from 21% in the previous year.

"Last year, Yield Sec predicted Americans would place $5.4 billion in online bets on the big game, of which just $1.4 bn would be bet legally,” Yield Sec CEO Ismail Vali said in a statement. “We were right. And, if we are right on the legal number, then we are right on the illegal number. The Yield Sec platform uses an apples and apples methodology for looking across all of the audience, all of their activity, all of the time.”

The result of what is expected to be a close match between the Eagles and Chiefs is certainly not guaranteed. What is clear is the increasing desire in America to place bets on the outcome.