Super Bowl Huge Boost to Sports Betting Industry
Super Bowl Sunday always provides a huge boost to the entire US sports betting industry, and this year was no different.
Official handle and revenue numbers will be reflected in the February totals for each state, but Geocomply has already delivered a glimpse of how large those numbers could be.
Geocomply is a geolocation service that tracks the number of transactions customers make from each betting market. The company tracks all of the online transactions, and the fact that there were seven more states with this form of betting helped raise the total.
On Saturday and Sunday, Geocomply tracked more than 32 million transactions in the United States. This was a 236% increase from 2020 when there were around 9.5 million transactions.
New Jersey has emerged as the top sports betting market in the United States, but it did not have the most transactions during Super Bowl weekend. That honor belonged to Pennsylvania as that state had more than 6.39 million transactions made.
Geocomply tracked all of the transactions in New Jersey, Indiana, and Pennsylvania in 2020 as well, and they released a chart showing how much growth each market had. All three states saw increases on both days, and there was also an increase in each state during conference championship weekend.
Last year, there were over $300 million bets on the Super Bowl throughout the United States, and that number is expected to be much larger in 2021. It has projected that close to $500 million will be wagered, and that exact figure should be released in the coming weeks.
Colorado and Illinois will help boost the 2021 totals, as each state launched in 2020 and has emerged as top sports betting markets.
A Closer Look at Indiana Numbers
Basketball might be the most popular sport in the state of Indiana, but bettors in the Hoosier state were plenty excited about the final two weeks of the NFL season. Indiana has seen a steady increase in sports betting in recent months, and that trend should continue with the numbers from the Super Bowl.
The official figures in terms of dollars wagered won’t be available until later in March, but there was a huge increase in transactions from 2020 to 2021. Betting on Super Bowl Sunday saw the biggest jump, but bettors also got in on the action Saturday.
There were 1,386,561 transactions made on Super Bowl Sunday, which was an 85% increase from 2020. There were 781,409 transactions made on Saturday, which was 38% more transactions made a year ago.
The total change on Super Bowl weekend was a 65 percent increase, showing that the Indiana sports betting market remains strong. Conference championship weekend also saw a 4% increase from 2020.
If the Indianapolis Colts ever land in the Super Bowl again, it would be a monster weekend for the Indiana sports betting industry. These sports betting options will continue to settle for an increase in handle and revenue in the coming years.
For more sports news and legal sports betting in Indiana, check out more stories on our blog.
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