Super Bowl LVIII to be an Even Bigger Boon for the NFL in 2024

As the regular season rages on, football fans across the US and pockets of followers in the UK, Germany, and Mexico tune in each Sunday to see which teams are positioning themselves for a run at the Vince Lombardi Trophy. So far, the Miami Dolphins, Baltimore Ravens, Detroit Lions, and San Francisco 49ers look to be leading the charge against last year’s still mighty finalists, the Kansas City Chiefs and Philadelphia Eagles.

Importantly for the NFL, in recent years – striking off 2020 for obvious reasons – revenues have only continued to grow. Concerns about the continual issues with off-field behavior from players and the swept-under-the-rug revelations of CTE don’t seem to have phased the league’s tremendous earning power, and a huge part of that has been the hype show that is the Super Bowl, along with America’s newly discovered fascination with betting.

Betting boom is huge business for the NFL

The NFL doesn’t have its own sportsbook, but it certainly benefits from what already clocks in as $7.5 billion in sportsbook revenue and what, by 2030, is expected to hit $40 billion in the US, alone. You can see how competitive and popular the online sports betting scene, in particular, has already become.

The best bonuses, according to The Game Day, come in the form of 'bet and get' offers as well as safety net bonuses. As per their list of the best current sportsbook promotions for NFL betting, three of the top five are leaning into bettor-friendly offers. One even extends to a $1,000 first-bet safety net and a 'bet $5, get $150' bonus. These sites are able to offer audacious promotions of this nature due to the sheer volume of American bettors. To put it in perspective, the American Gaming Association has estimated that 73.5 million adults will bet on this season of the NFL alone.

To ensure that it got its piece of the pie, just as the US was opening up to sports betting and online bookmakers, it entered into extensive betting partnerships. In its first wave of announcements for betting partners, the NFL got deals worth some $1 billion over five years. Way back in 2018, the American Gaming Association predicted that the NFL would see annual revenues grow by $2.3 billion per year, but now, that figure seems relatively quaint.

Super Bowl LVIII to reach new heights of betting and revenues

In the short time that sports betting has been available in at least a few states, the Super Bowl has already proven to be a multi-billion event for betting. Last year, as reported by CNBC Network, the Super Bowl would see $16 billion wagered on its many outcomes by Americans, with only $1 billion of that being at regulated and licensed platforms. Around 50 million American adults placed a bet on Super Bowl LVII to help hit that figure.

However, in the year that’s passed since, betting has only become more embedded as part of the football experience. Companies have enhanced their offers, are advertising better, and more states now run regulated betting environments. As a result, Super Bowl LVIII will certainly see a new record for American wagers on the big game. With Usher also taking to the stage for halftime on February 11, 2024, it stands to reason that viewership will be high. On top of that, the game itself will be taking place in Las Vegas!

Bookies already see millions bet on the NFL every week in the US, but when Super Bowl LVIII comes around, they’d best hope that the servers are ready for a stampede of football betting. 

Cover Credits: ESPNofficial

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