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Money Talks: Super Bowl Betting a Game In Itself

Just as the Super Bowl has taken on a life of its own, so has wagering on the game as it has evolved into the biggest single-day sports gambling event in the nation.

News reports on the Internet indicate that nearly $6 billion is expected to be wagered on this Super Bowl — with over $5 billion of the betting done illegally with local bookmakers. Nevada is the only state where sports betting is legal. The Nevada record for Super Bowl betting is $77.3 million, set in 1998 when the Denver Broncos played the Green Bay Packers. Casino executives expect the number to be between $75 million and $80 million for this year’s Super Bowl.

There are also the new-age gambling outlets, the offshore Internet sites that offer you every form of sports betting. Most people can’t get to Nevada, so Internet gambling has mushroomed into a huge Super Bowl betting outlet.

Christiansen Capital Advisors, a leading management consulting and market research firm servicing the gaming and entertainment industries, estimates that between $375-400 million will be bet on the Super Bowl through online sports books alone this year, an increase of between $50-75 million from 2002.

Compared to the $71.6 million wagered with land-based sports books in Las Vegas in 2003, online gambling is rapidly gaining popularity and acceptance among consumers throughout the United States. Congress, state and federal officials and consumer watchdog groups try to ban this form of gambling, but policing the Internet and the offshore betting sites is nearly an impossible situation.

"The Super Bowl is undeniably the biggest sporting event of the year in America. And therefore it captivates one of the largest, most diverse groups of viewers who wager money to give themselves a vested interest in the outcome of the game," said David Carruthers, CEO of BetonSports.com. "As more and more consumers realize the advantages of online gambling as a safe, private and convenient means of entertainment, the Internet will become the preferred destination for wagering on sports, not Las Vegas."

Read the entire article at: New Haven Register 

2004 Online Casino News Archive

 

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