Super Bowl LX is setting up to generate record-setting sports betting numbers in the U.S., even as fast-growing prediction markets aggressively push in.
The American Gaming Association forecasts that roughly $1.76B in legal wagers will be placed on Super Bowl LX in the U.S. in what will likely be the single biggest betting event on the U.S. sports calendar. DraftKings (DKNG), FanDuel (FLUT), BetMGM (MGM) (GMVHF) and Caesars Sportsbook (CZR) are battling for market share with aggressive promotional campaigns, same-game parlay options, and extensive live-betting action designed to keep fans engaged throughout the game. Others in the mix include theScore Bet (PENN), Bet365, BetRivers (RSI), Fanatics Sportsbook (FANA), and PointsBet.
While online sports betting is still illegal in key states such as California and Texas, prediction markets Kalshi (KALSHI) and Polymarket (POLYMARKET) are available nationwide. Another key distinction is that anyone over the age of 18 can trade on a prediction market, while most online sportsbooks are required by state regulators to verify that bettors are at least 21 years old. For bettors, online sports betting apps are still seen as providing a slight edge with odds after factoring in promotions.
Prediction markets have faced backlash from the American Gaming Association, which has claimed that prediction markets are confusing consumers by promoting sports betting as an investment rather than entertainment. For its part, the NFL has continued its ban on advertisements for prediction markets through the Super Bowl.
Leading into the Big Game, FanDuel (FLUT) and Kalshi (KALSHI) have seen the most momentum with app downloads. Apptopia reported that Kalshi saw a stunning three million downloads in January.
As for the game itself, BetMGM (MGM) (GMVHF) updated Seeking Alpha that the Seattle Seahawks is the betting favorites, with 59% of the handle on moneyline bets and 56% of the handle on bets on the point spread (currently Seattle -4.5). Sam Darnold has moved to the strong favorite to win MVP at +115.