PlayUSA Projection: $20 Million Will Be Bet On The Super Bowl In Michigan
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According to PlayUSA, the largest game on the American sports betting calendar is expected to attract $20 million in wagers this weekend in Michigan.
Last week, our sister website released projections for Super Bowl LV, predicting that over $500 million would be wagered on the Tampa Bay versus Kansas City matchup on Sunday night.
According to analyst Eric Ramsey, who assisted in calculating the data for the PlayUSA network, including Playinmichigan, making this projection was not a straightforward task.
Ramsey stated that out of the 20 states listed, Michigan was possibly the most challenging to predict. He explained that their projection for Michigan was approached with caution due to the lack of a reliable benchmark for comparison.
Reasons why Michigan is tough to project
Starting from January 22, Michigan will be introducing a new platform for online sports betting.
Indeed, the Super Bowl of this year marks a significant milestone for Michiganders. It is the inaugural occasion where they can lawfully place bets on the game, following the commencement of retail sports betting on March 11th in the previous year.
According to Ramsey, the retail markets lack a foundation for comparisons.
He stated that not only is this the first year with legalized Super Bowl betting, but it comes during a period of significant market instability. It is worth noting that the most recent official data from December only covers a restricted range of activities at physical sportsbook locations.
After the reopening of the three downtown casinos, Michigan sports bettors placed over $9 million in sports bets in Detroit within a week at the end of December.
For the inaugural Super Bowl betting in Michigan, estimating that only roughly twice the amount will be wagered on Sunday would be considered a conservative statement.
Ramsey stated that the introduction of online sports betting not only brings about a completely fresh development but also becomes even more significant as it aligns with the grandest betting occasion of the year.
Legal Super Bowl LV bets will break national records
In addition to Michigan, Sunday’s game legally opens up the opportunity for sports betting in 20 states, along with the District of Columbia.
The number of states has increased steadily over the years: from 14 last year, to eight in 2019, and prior to 2018, only Nevada was included.
Dustin Gouker, the lead analyst at Playinmichigan, stated that a significant weekend is bound to occur due to the surge in legal sports betting. This expansion encompasses new markets and the flourishing of existing ones. Gouker believes that the idea of half a billion dollars or more being wagered on a single game may seem unimaginable, but given the trajectory of the US market, achieving such a betting handle is highly feasible.
This year, Super Bowl betting is projected to be led by Nevada, with estimated wagers amounting to $125 million, according to PlayUSA. New Jersey secures the second position with $75 million, followed by Illinois with $60 million, Pennsylvania with $55 million, and Indiana with $45 million, ranking third, fourth, and fifth respectively.
Eleven sports betting operators in Michigan
Michigan residents now have a total of 11 operators to choose from, along with a few retail casinos, following the launch of Fox Bet on Friday. The online operators available are:
- Barstool
- BetMGM
- BetRivers
- DraftKings
- FanDuel
- Fox Bet
- Golden Nugget
- PointsBet
- TwinSpires
- William Hill
- WynnBet
Playinmichigan estimates that the sports betting market in Michigan will see an annual wager of $8 billion once it reaches maturity. Based on the recent launch and the amount of wagers and revenue generated last month, we anticipate Michigan to quickly become one of the top five markets in the industry.
Various promotions, odds boosts, and additional perks will be designed specifically for the Super Bowl.
We will ensure you are informed about those matters throughout the week, so stay alert for updates.
