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Home » Sports » Gambling » Super Bowl 2024: Betting Trends and North Carolina’s Role

Super Bowl 2024: Betting Trends and North Carolina’s Role

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  • Digital Team 

The Super Bowl, which is the largest sporting event in America, always attracts a lot of people who like to place bets. This year’s event in Las Vegas has garnered particular attention for the unprecedented surge in betting activity. Nearly one in four Americans, around 68 million people, are planning to bet on Super Bowl 2024, marking a significant increase of 35 percent compared to last year. The American Gaming Association predicts that bettors will wager an astonishing $23.1 billion on the Chiefs vs. 49ers game. However, it’s important to note that only $1.5 billion of this amount will be through legal channels.

A gambling research company in North Carolina called CarolinaPlays.com has also estimated around $1.25 billion in legal bets for the Super Bowl. Despite this substantial figure, a large portion of betting still occurs through illegal means. Illegal betting remains a persistent issue as some individuals attempt to avoid fees and taxes.

The topic of sports betting is gaining momentum in North Carolina. While it is not yet legal in the state, the growing national trend is shaping local perspectives. People from North Carolina are increasingly drawn to platforms like BetMGM. In fact, a sought after commodity among sports fans in the state could soon be a North Carolina BetMGM bonus code. If sports betting becomes legalized in North Carolina, it has the potential to tap into the excitement of local fans and significantly contribute to the legal betting market.

Chris Grove, a partner at Eilers & Krejcik, points out a common challenge associated with sports betting; people may not accurately disclose how much they plan to bet or how frequently they engage in such activities. Grove mentions that the regulated sports betting market is rapidly growing and expected to surpass the illegal market eventually; however, he believes that an illegal market will always exist due to advantages such as credit offerings, anonymity options and lower tax rates.

It’s worth noting that some heavily populated states, such as Texas, California, Georgia and North Carolina, still do not permit legal betting. This lack of legalization has a major impact on the prevalence of illegal betting.

On a positive note, the legal betting market is gaining momentum. According to reports from the association, approximately 11 percent of Americans (which equates to around 28.7 million adults) will participate in legal betting activities. This shift demonstrates an increasing preference for regulated avenues of betting.

Interestingly enough, Las Vegas, as the host city for the game, is expected to witness the highest level of betting activity at around 12.8 percent. Following closely behind are New York and New Jersey, which significantly contribute to the overall landscape of sports betting.

The projected amount of bets stands at an impressive $23.1 billion – a substantial increase of 44.4 percent compared to the estimated $16 billion forecasted for 2023. Traditional methods of betting are gradually overshadowing more casual forms like Super Bowl squares. Approximately 42.7 million Americans plan to place their bets through sportsbooks or bookies, while another 36.5 million individuals will engage in casual forms such as pool or squares contests.

These figures demonstrate significant growth compared to last year’s statistics; with sportsbook wagering experiencing a rise of 41 percent and casual forms witnessing an increase of 32 percent in popularity among bettors. This trend indicates a growing interest in more formalized methods of placing bets.

Furthermore, it is estimated that approximately 73 percent of Americans plan to watch the game – almost a 10 percent increase from the previous year.

NFL Commissioner Roger Goodell credits part of the recent surge in viewership to the impact of Taylor Swift. Swift’s presence has sparked a newfound interest, particularly among young women.

In summary, as millions continue to be captivated by the Super Bowl, there is a rapid evolution happening within the betting industry. With a shift towards legality and even potential inclusion of states like North Carolina, significant growth awaits this industry. The combination of celebrity influence, legal reforms and technological advancements may transform sports betting into a more mainstream and regulated activity in future years.

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Categories: GamblingSports