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How much money is bet on the Super Bowl each year?

The Super Bowl is the most-bet sporting event in America.

General view of Super Bowl LVII signage on February 6, 2023 in Phoenix, Arizona. Super Bowl LVII will be played between the Philadelphia Eagles and the Kansas City Chiefs on February 12, at State Farm Stadium in Glendale, Arizona. Photo by Christian Petersen/Getty Images

The Super Bowl is the biggest single sporting event in America each year, and we see that in the TV ratings and how much people are prepared to wager on the game. The Super Bowl will feature the highest ratings of the calendar year and no single-day event in the United States will feature more money bet on it.

Betting on the Super Bowl has existed all across America since long before the Supreme Court ruled that states could implement sports betting. Whether it be Super Bowl squares and other pools with friends, meeting your local bookie, or traveling to Las Vegas, sports betting has been part of the Super Bowl for decades.

The amount bet on the Super Bowl continues to grow as sports betting legalization moves across America. The American Gaming Association conducted a survey and results show that approximately 50.4 million American adults are expected to bet on Super Bowl 57 and they plan on wagering an estimated $16 billion. In comparison, a year ago, the AGA estimated those numbers at 31.4 million Americans and $7.61 billion.

Those totals are not just through legal means. A year ago, estimated the Super Bowl would generate $1 billion in wagers at legal online and retail sportsbooks. If those 2022 numbers are close to accurate, that means only 13% of Super Bowl betting came through legal operations. There are no reports yet on legal betting, but with the launch of Ohio and Maryland among others, and the further growth in New York and other states, the percentage of legal betting has likely climbed from last year’s 13%.

By comparison, last year’s NCAA Tournament saw an estimated $3.1 billion bet across the entire three weeks of basketball. The Super Bowl is the No. 1 betting event in America by a long shot.

This article can also be found in our Ultimate Guide to Super Bowl 57, presented by Frank’s Red Hot.