PlayUSA Projection: Michigan Sports Bettors Will Wager $45 Million On Super Bowl

Please rewrite your statement or question so that I can provide a proper response.

According to PlayUSA’s projection, Michigan sports bettors are expected to place bets totaling $45 million at legal online and retail sportsbooks for Super Bowl LVI.

In total, the website anticipates a staggering $1 billion in nationwide bets for the upcoming Super Bowl on February 13th, featuring the Los Angeles Rams versus the Cincinnati Bengals.

Michigan’s current number surpasses last year’s projection for the game, which is twice as high as expected when online sports betting was initially legalized. Moreover, this year’s game holds special significance for Michigan due to the participation of former Detroit Lions quarterback Matthew Stafford, who now plays for the Rams.

National handle could double for Super Bowl LVI

Online sports betting has experienced significant growth over the past year, with a projected $1 billion handle for the Super Bowl, nearly doubling last year’s figures. In 2021, the legal wagers placed for the event amounted to just over $500 million.

Dustin Gouker, the lead analyst for PlayUSA.com, believes that achieving $1 billion in legal wagering on a single game would be a remarkable achievement for the industry. He acknowledges that a few years ago, this milestone would have appeared unattainable. However, due to the recent growth in sports betting, Gouker deems it inevitable that legal wagering will skyrocket.

In 2021, the Super Bowl emerged as the most heavily wagered single sporting event, with legal bets surpassing $50 billion nationwide throughout the year.

Sports betting is currently legal in 31 states, with 11 of them legalizing it within the last year.

Michigan projected seventh in Super Bowl betting

Despite the changing landscape, Michigan continues to be projected as one of the states with the highest amount of wagers placed on the Super Bowl.

According to PlayUSA’s analysis, Michigan ranks seventh overall with a $45 million projection.

This is how the top-11 appears:

• Nevada’s budget allocation: $175 million.
• The cost in New York is $160 million.
• The state of New Jersey has a budget of $130 million.
• Illinois has a budget allocation of $75 million.
• The amount of $70 million is allocated to Pennsylvania.
• Arizona has a budget of $55 million.
• Michigan has a budget of $45 million.
• The state of Indiana has a budget of $40 million.
• The state of Colorado has a total budget of $35 million.
• Louisiana’s budget allocation amounts to $35 million.
• Virginia has a budget of $35 million.

A year ago, Michigan’s projected wager on the Super Bowl stood at $20 million, which was considered conservative compared to this year. The cautious estimation was primarily influenced by the nascent state of Michigan’s online sports betting market.

First chance to compare Michigan betting numbers year-to-year

The month of February 2024 promises to bring an intriguing opportunity for analyzing the landscape of online sports betting in Michigan.

Online sports betting was legalized on January 22, 2021, and February 2021 marked the first complete month of its operation.

In the previous year, the total wagers made in February amounted to $301.9 million, resulting in a gross revenue of $9.4 million for the 12 sports betting sites operational at that time.

As of now, the monthly handle for February of last year secured the sixth position in terms of the highest for the entire year. Over the past three months of 2021, Michigan has witnessed a significant handle surpassing $460 million. As of now, the figures for January 2024 have not been disclosed.

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