Yield Sec data finds nearly 2/3 of Super Bowl bets were illegal
$537m more illegally wagered this year compared to last year.
Gaming analysis company, YieldSec, has released data commissioned by the Campaign for Fairer Gambling (CFG), in relation to bets on this year’s Super Bowl.
The main point found from the analysis was that nearly two-thirds of bets placed on the Super Bowl were in fact illegal, as the black market continues to overshadow the regulated market.
In all, there were 350 million total bets placed this year, 228 million of which were illegal. The total value of bets wagered was up around 20% to $5.4bn, but $4bn of which still represented illegal bets.
The legal market did show growth, by 22 million bets, when compared with last year, but there were also 42 million more illegal bets.
This means the illegal market comprises 65% of the overall Super Bowl betting market, leaving 35% being held by the legal market.
YieldSec Founder and CEO, Ismail Vali, said: “It’s troubling to see the proximity of illegal gambling to our audiences and the core of the Super Bowl’s conversation and commerce.
“With illegal brands capturing nearly two-thirds of all bets on the game, the challenge of shifting control from illegal to legal operators in the online betting and gaming marketplace is more apparent than ever.
“Our monitoring underscores the significant growth of illegal gambling activities, which not only threatens the integrity of sports and the gambling industry but also hampers the potential for increased revenues, tax contributions, and consumer protection. The data post-Super Bowl 2024 underscores the critical need for a united effort to regulate, police and enforce the online gambling marketplace.”
CFG Founder and funder Derek Webb added: “The legal gambling sector sold lawmakers across America the mirage of the regulated market supplanting the black market.
“The legal gambling sector, which should be disappointed, has thus far been allergic to any and all federal involvement. We hope America’s legal gambling sector and its trade groups will reconsider and join us in calling for a federal crackdown on illegal gambling.”
Shortly after the Super Bowl, bet365 revealed that the popularity of Travis Kelce and Taylor Swift had boosted the number of bets placed on the game.
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