Super Bowl LVII Set to Be a Record-Setting Betting Bonanza

Each and every year, the amount of action on the Big Game increases, and Super Bowl LVII is no different. Some projections predict $16 billion in legal bets on this year’s Super Bowl.

“We think we’ll see a 40 percent increase in tickets written this year and probably about a 30, 35 percent increase in handle,” said BetMGM VP of Trading Jason Scott during his appearance on SportsGrid’s Ferrall Coast to Coast.

What’s the cause for the significant increase? More options, specifically prop bets, are a big reason.

“We’re going to have close to 1,000 prop bets,” Scott continued. “Which frankly is more of a vanity play. It’s like an arms race between the books to see who can write the most props. Thirty to 40 props will take all the money.”

The two player prop bets responsible for the most handle involve Philadelphia Eagles running backs. Miles Sanders OVER 59.5 rushing yards, edges out Kenneth Gainwell OVER 19.5 rushing yards, for the largest handle at BetMGM heading into Super Bowl weekend.

Bettors may not believe in Kansas City’s run defense, but they are backing KC’s QB over Philly’s. Patrick Mahomes OVER 294.5 passing yards, and Jalen Hurts UNDER 238.5 passing yards, are among the top five player prop bets in terms of the handle. 

The most bet prop is Travis Kelce to score the 1st touchdown (+650). Bettors love those odds.

In addition to player props, many game and scoring props are offered, including picking the exact score, with one particular outcome gaining steam.

“Right now, 37-34 Eagles win is our disastrous result,” Scott said.

“Somebody’s tweeted something out, and the worlds come. We’ve written for two days; every second bet is 37-34 Eagles.”

Why Eagles 37-34, besides the +8000 payout (opened at +25000)?

“I think someone has tried to use the Arian Foster scripted model, and they’ve convinced plenty of people on social media that the script says 37-34,” Scott added.

The Super Bowl also brings out notable big-money wagers like no other event. The biggest bet thus far is $1,250,000 on the Eagles moneyline (-125) to win a cool $1 million. The largest wager against the spread is also on the NFC Champs, $100,000 to win $90,909 at -1.5. 

You would be right if you think the books will root for the Kansas City Chiefs. 

“The Chiefs winning the Super Bowl is what BetMGM needs. The worst scenario is Travis Kelce scoring the first touchdown and the Eagles winning 37-34. We’d lose sleep over that result,” said Seamus Magee, Sports Trader at BetMGM.

Another factor in the increase in bets and money wagered is new markets.

“Maryland (and) Ohio have taken to sports betting like a fish to water,” said Scott.

Sports Gambling is now legal in more than 30 states, plus Washington D.C., with several potentially added to the list in 2023.