Americans will wager $4.76B on super Bowl LII, $4.6B of it illegally

Americans will wager $4.76B on super Bowl LII, $4.6B of it illegally

February 02, 2018 9:13 AM
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The American Gaming Association (AGA) the national trade group representing U.S. gambling industry says Americans will wager approximately $4.76 billion on Sunday’s Super Bowl LII, but that because of a “failed federal law” 97 percent of the total wagers, equaling more than $4.6 billion, will be bet illegally.

Just 3 percent of that total, roughly $138.5 million, of Super Bowl bets are expected to be legally wagered through licensed sports books in Nevada, the only state where single-game wagering is not prohibited, according to the AGA.

“Thanks to the failed federal ban on sports betting, Americans are sending billions of their hard-earned dollars to corner bookies, shady offshore operators and other criminal enterprises,” Geoff Freeman, president and CEO of the group told reporters earlier this week.

The U.S. gaming industry and numerous individual states are awaiting a June U.S. Supreme Court ruling that could lift the current federal ban on most sports wagering.

Freeman also addressed the recent NBA proposal calling for a reworking of federal law to allow sports wagering. The NBA additionally said it wants a one percent cut on all wagers made on its games.

“The NBA is an important stakeholder and we are pleased to see their active engagement,” said Freeman. “Unfortunately, their proposal would replace a failed federal law with bad state policy – robbing law enforcement, regulators and state taxpayers of additional resources. Eliminating the illegal market is in the public interest – and it is incumbent on each stakeholder to prove how their proposals achieve that critical objective.”