50 Million People Bet $16 Billion On The Super Bowl This Year, Twice As Much As Last Year

The sports betting market has grown tenfold in the past three years and may already be worth $7 billion by 2022. According to the American Gaming Association, as many as 50 million Americans are expected to wager on the Super Bowl this weekend, a record high, equivalent to about one in five adults betting $16 billion. Twice as many as last year; Sports betting is now legal in much of the country, an industry that addiction experts fear could have consequences comparable to the opioid crisis.

Five years ago, betting on live events was illegal in most of the United States, until a 2018 Supreme Court ruling overturned the ban, bringing changes to the gambling industry, which is now legal in 33 states and Washington, DC.

Since the Supreme Court struck down a ban on commercial sports betting in most areas outside Las Vegas, the legal gambling industry has expanded rapidly.