Betting Expectations Hit New Record High for 49ers-Chiefs Super Bowl LVIII in Las Vegas

Tens of millions of Americans are expected to bet billions of dollars on the Big Game this year.

More than a quarter of the American adult population is projected to have some skin in the game for Sunday’s Super Bowl LVIII matchup between the San Francisco 49ers and Kansas City Chiefs.

Nearly 68 million are expected to bet on the Big Game this year, according to a new American Gaming Association (AGA) survey. That figure represents a 35% increase from 2023, which also set a record. The AGA projects Super Bowl bets to eclipse $23 billion, another hefty increase from last year’s $16 billion handle.

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Sports betting is now legal in 38 states, plus Washington, D.C., and more than two-thirds of American adults live in a legal market, per the AGA. Traditional Super Bowl bets surpassed casual wagers for the first time ever in 2023 and that’s expected to continue this year.

Almost 43 million people plan to bet on the Big Game online, at a sportsbook or with a bookie compared to the 36.5 million who plan to participate in a pool or squares contest. The number of people projected to place a traditional bet is up 41% from last year while casual wagers are up 32%.

The 49ers-Chiefs matchup is a rematch from Super Bowl LIV, which Kansas City won 31–20. San Francisco is currently a 1.5-point favorite over the Chiefs, who are looking to become the first team in 19 years to go back-to-back. The over/under is set at 47.5 points. Kansas City has drawn a larger portion of the handle than the 49ers so far as reigning MVP Patrick Mahomes is set to be installed as an underdog for the third straight game.

As further evidence of the NFL embracing the business of betting, the Super Bowl will be played in Las Vegas for the first time ever this year. The Big Game kicks off at Allegiant Stadium on Feb. 11 at 6:30 p.m. ET on CBS.

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