Survey: Record 50.4 million adults to bet $16B on Super Bowl

A record 50.4 million adults in the United States -- roughly 20% of the population -- are expected to combine to bet approximately $16 billion on Super Bowl LVII, according to survey results released Tuesday by the American Gaming Association.

The number of expected Super Bowl bettors is up 61% from last year's survey and is equivalent to how many adults in the U.S. participate in running. Kansas, Ohio, Maryland and Massachusetts have launched online sports betting since the last Super Bowl.

The $16 billion wagered on Sunday's game between the favored Philadelphia Eagles and the Kansas City Chiefs is more than double last year's estimates. The wagering totals include bets made with legal sportsbooks, illegal bookmakers or casually among friends.

The annual survey from the AGA, a Washington trade group that represents the casino industry, highlights the exploding popularity of sports betting in U.S., where legal sports betting markets have launched in 32 states and the District of Columbia.

The game will be played Sunday at State Farm Stadium in Glendale, Arizona, and it will be the first Super Bowl to take place at a venue with a retail sportsbook on premises. BetMGM operates a sportsbook at State Farm Stadium. The BetMGM sportsbook will be open on game day to ticket holders only.

GeoComply, a leading provider of geolocation technology for U.S. betting operators, said it processed more than 550 million geolocation checks with sportsbooks during the NFL playoffs, a 50% increase from last year's playoffs. In September, when the Chiefs played the Arizona Cardinals at State Farm Stadium, GeoComply tracked more than 66,000 geolocation checks between bettors and sportsbooks that took place from the venue.

"Every year, the Super Bowl serves to highlight the benefits of legal sports betting," Bill Miller, CEO and president of the AGA, said in a release announcing the survey results. "Bettors are transitioning to the protections of the regulated market; leagues and sports media are seeing increased engagement, and legal operators are driving needed tax revenue to states across the country."

The online survey was conducted by data firm Morning Consult this winter on behalf of the AGA and including a sample of 2,199 adults. Results indicated that 34% of those who identify as NFL fans say the expansion of legal sports betting has made games more exciting.

The Eagles were consensus 1.5-point favorites as of Tuesday morning. Caesars Sportsbook on Monday reported that 73% of the bets that had been placed -- and 74% of the money wagered -- was on the Eagles to cover the spread.