Eilers & Krejcik Gaming: Super Bowl betting handle set to reach $1.06bn
The Super Bowl is expected to bring in $1.06bn in betting handle, according to research firm Eilers & Krejcik Gaming (EKG).
The Super Bowl, the annual championship game of the National Football League (NFL), which is taking place next Sunday (13 February), is the largest betting event for the US sports betting industry.
It accounts for nearly 1% of the total annual handle of the industry.
EKG projected that Nevada will have the largest share of the nationwide Super Bowl betting handle, estimated at 15%. New York is expected to have the second-largest share of handle at 11%.
Pennsylvania, home of the Philadelphia Eagles who are competing in the showpiece, is likely to come next at 9%, while Kansas, home of their opponents the Kansas City Chiefs, is predicted to make up 4.4%.
Customer acquisition opportunity
EKG said it did not project revenue given the inherent volatility of the match.
Moreover, the firm highlighted that the Super Bowl is primarily a customer acquisition opportunity for sports betting operators.
The research firm stated that “making money is not necessarily the core aim of the game” and that the “Super Bowl is mainly an opportunity to acquire casual customers who can be cross-sold or reactivated next NFL season”.
EKG predicted that between 10% and 15% of Super Bowl online handle would be wagered in-play.
The firm noted that the low in-play betting mark is due to the high number of recreational customers who prefer pre-match betting, particularly during the Super Bowl.
Same game parlays
Additionally, the research firm predicted that 15-20% of the handle would be placed through same game parlays.
It is believed that the percentage may be closer to 25% at FanDuel and slightly lower at DraftKings.
However, EKG said the estimate for same game parlays during the Super Bowl is lower compared to a typical NFL weekend.
This is due to the expected heavy bets on core markets and the lack of other games to wager parlays on.
Online betting activity skyrocketed in the US at the start of the new NFL season due to the growing number of legal betting options.