AGA says $1.76bn to be legally wagered on Super Bowl LX
Trade body expects record handle for the Big Game, surpassing last year's estimate of $1.39bn, alongside latest prediction markets rebuttal
Americans will legally wager a record $1.76bn on Super Bowl LX, according to research by the American Gaming Association (AGA).
The trade body said the prediction came against the backdrop of the “continued growth and strength of the legal, state- and tribal-regulated sports betting market.”
Last year, the AGA forecast $1.39bn would be bet on the Big Game, which was a record at the time.
The estimate from the AGA was accompanied by a denouncement of the “confusion” for consumers created by prediction markets.
Research by the trade body found that 78% of sports event contract traders believe state gambling regulators can resolve disputes on their platform, even though prediction markets are not governed by state sports betting regulations.
The research also found that 58% of sports event contract users view the activity as gambling, while 28% believe they are “investing.” In comparison, 9% of sportsbook users describe their practice as an investment.
The AGA reported 25% of sports event contracts bettors said they used their investment budgets to fund their activities, compared with 9% of sportsbook bettors.
Finally, 28% of sports event contract traders said responsible gaming tools were easy to find on their platform, compared to 58% of sportsbook users.
Bill Miller, AGA president and CEO, said: “By choosing legal, regulated sportsbooks, fans are having fun while supporting a safe and responsible market.
“This research reinforces why state- and tribal-regulated sportsbooks are critical, offering strong oversight and consumer protections that prediction markets simply do not match.”
The AGA added: “This research highlights a growing consumer protection gap.
“When sports betting is framed as investing, bettors are more likely to misunderstand risk, misuse funds intended for long-term financial goals, and assume protections that do not exist.
“The findings underscore the importance of clear regulatory distinctions, truthful marketing, and consistent responsible gaming standards across all sports wagering products.”
This week AGA lost two more members – OpenBet and Sportradar – which has raised speculation the suppliers are considering entering the prediction market space.
The departures follow those of FanDuel and DraftKings in November. The operators explicitly attributed their exit to the AGA’s stance on prediction markets. Fanatics soon followed the duo in departing.
The survey was conducted by Brandon Mastromartino on behalf of the AGA over the final two weeks of December last year among “nationally representative” samples of 503 event contract bettors and 523 sportsbook bettors.