US sports betting industry expected to see boost from Super Bowl LV

This Sunday, Super Bowl LV takes places, pitting the Kansas City Chiefs against the Tampa Bay Buccaneers. Every year, the event is the most wagered on in the United States, and this year is no exception. Analysts feel that players will be wagering in large numbers, though the majority of bets will take place online due to the COVID-19 pandemic.

Mahomes and Brady Make It Interesting

Last year, the Kansas City Chiefs beat the San Francisco 49ers 31-20 and won the Super Bowl for the first time in 50 years. It was an amazing matchup and ended up seeing $6.8 billion in worldwide wagers placed on the game.

This year, the Chiefs are back, with Mahomes at the helm. He is one reason that sports betting software providers feel that the betting handle this year will exceed last year’s event. On top of Mahomes, you have Tom Brady, which is also an element to consider.

Brady will be playing in his 10th Super Bowl this year and he has taken two different teams to the big game. He is only the fourth quarterback in the history of the NFL to do this.

PayPerHead is one software company that feels the betting environment will be ramped up. The product manager for the company, Nate Johnson, commented on the upcoming event by stating: “Even if you don’t have the internet or television, you know about this game. Patrick Mahomes and Tom Brady are two of the most popular individuals, not just athletes, but people on the planet.”

Mobile Sports Betting to Thrive

This year, projections place mobile sports betting as the big winner when it comes to the betting handle. Land-based sportsbooks will not see as much action due to the coronavirus. Such venues are restricted in capacity levels, so they are unable to host big Super Bowl parties as they would have in the past. Players are also less likely to be out and about when they can watch the NFL game safely at home.

In the United States, legal sports betting has expanded in more than 50% of the country. Because of its growth, as well as lack of entertainment options, the handle is expected to reach new heights. Bettors are already placing their wagers now on the big game and of course, bets will continue to roll in throughout the remainder of the week leading up to the big game.

Super Bowl LV kicks off at Raymond James Stadium in Tampa at 6:30 pm EST this Sunday, with the CBS network broadcasting live.

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