$4.3 billion to be bet on Super Bowl

23.2 million Americans plan to bet a total of $4.3 billion on this year's Super Bowl LV matchup between the Kansas City Chiefs and Tampa Bay Buccaneers, according to new American Gaming Association (AGA) research. Among Super Bowl bettors, a record 7.6 million will bet with online sportsbooks this year, up 63 percent year-over-year. Many new online options exist for sports gamblers.

"This year's Super Bowl is expected to generate the largest single-event legal handle in American sports betting history," said AGA President and CEO Bill Miller. "With a robust legal market, Americans are abandoning illegal bookies and taking their action into the regulated marketplace in record numbers."

Since last year's game, 36 million more American adults have gained the opportunity to safely bet in legal markets in their home state with seven new jurisdictions now live: Colorado, Illinois, Michigan, Montana, Tennessee, Virginia, and Washington, DC.

An expected overall drop in overall Super Bowl betting is almost entirely caused by pandemic-led restrictions, with the largest declines anticipated for retail sportsbooks and casual bets, like pools or squares, that are made in social settings.

Key findings from the survey, conducted by Morning Consult, reflect dramatically shifting betting patterns amid the COVID-19 pandemic:

1.4 million Americans plan to bet in-person at a sportsbook, down 61 percent from 2020.

1.8 million bettors plan to place a bet with a bookie, down 21 percent.

4.5 million Americans plan to place a pool, squares, or similar bet, down 19 percent.

11.9 million Americans plan to bet casually with friends, down 18 percent.

56 percent of bettors plan to bet on the Chiefs while 44 percent plan to bet on the Buccaneers.

While previous AGA research has shown consumer confusion over the legal status of many online sportsbooks, consumers feel it is important to bet legally: 65 percent of expected Super Bowl bettors say it is important for themselves personally to use a legal, regulated sportsbook for their bets.