The Super Bowl is just several days away and American Gaming research is estimating that 23.2 million Americans will be wagering on the big game.
There are 20 legal states for Super Bowl betting, compared to just one (Nevada) four years ago. The biggest bet placed on Sunday’s game between Tampa Bay and Kansas City is still the $2.3 million wager on the Buccaneers +3.5 (-115) at BetMGM in Nevada.
That bet was reported late last week. The second-largest bet was placed at Caesars Palace on Monday, according to Ben Fawkes of VSiN. The William Hill book took a $520,000 wager on the Chiefs at -3 (-120).
American Gaming is estimating there will be a total of $4.3 billion wagered on this year’s game. Last year’s estimate was nearly $7 billion, but COVID-19 restrictions have led to a lower estimate this season.
As more states have legalized sports betting, there have become more and more exotic prop offerings for customers. Pregame’s Steve Fezzik and Matthew Holt expect there to be a 60-40 handle split in favor of prop betting vs. the standard market (spread/total/money line).
One of the most popular props is the Super Bowl MVP award. Las Vegas books were not allowed to take bets on the award until 2016, when Denver linebacker Von Miller crushed sportsbooks by winning the MVP as a 60/1 longshot.
Many bettors like to look for dark horse MVP candidates in the Super Bowl. The Westgate SuperBook’s biggest liability is on Kansas City cornerback Tyrann Mathieu (40/1), according to Todd Dewey of the Las Vegas Review-Journal.
Quarterbacks have won the MVP in 30 of the 54 Super Bowls. Kansas City quarterback Patrick Mahomes is a -110 ‘chalk’ to win the award this year. Tampa Bay’s Tom Brady has the second-shortest odds at +250.
There has been lopsided betting action on the standard market thus far. Kansas City is receiving 78% of bets and 92% of the money at PointsBet. However, the Chiefs have moved from -3.5 (-105) to -3 (-120).