Largest bets on Super Bowl LVIII

It wouldn’t be a Super Bowl in Las Vegas without some truly large bets hitting the big sportsbooks this week. According to sports betting reporter Ben Fawkes, there have been three bets so far that top $500,000. The largest bet placed so far is on the San Francisco 49ers to win Super Bowl LVIII over the Kansas City Chiefs.

It’s a million-dollar bet on the money line at -120, which was placed with the Ceasars Sportsbook. The payout would be a whopping $1.833 million. It is certainly a risky bet considering the last time the two teams faced off in the Super Bowl, the Chiefs won 31-20. The 49ers are attempting to snap a three-decades-long Lombardi Trophy drought.

Biggest reported #SuperBowl wagers so far:

1. $1 million on 49ers ML -120 at @CaesarsSports

2. $500,000 on 49ers ML -125 at Caesars

3. $500,000 on 49ers ML -125 at @DKSportsbook

— Ben Fawkes (@BFawkes22) February 8, 2024

All three of the biggest bets placed so far have been on the money line for the 49ers to win. The next two largest bets were each for $500,000, placed with Ceasars and DraftKings Sportsbooks. Both bettors took the bet on -125 odds, which would pay out $900,000 if they win.

With the spread currently at -2.5 for the San Francisco 49ers, the Las Vegas oddsmakers are preparing for a tight game. The over/under point total for Super Bowl LVIII is 47.5 points. Last year, the Eagles and Chiefs hit the over by scoring 73 points combined. However, the previous four Super Bowls all went under. Twelve of the past 20 Super Bowls have finished as one-score games. Vegas is clearly expecting another nail-biter this year.

Americans to wager historic amount on Super Bowl LVIII

The American Gaming Association released figures on Tuesday that reveal a record number of Americans will place wagers on Super Bowl LVIII. Considering the boom in legal sports betting in recent years, the uptick is no surprise, but the numbers are still shocking. A record 67.8 million American adults, which is 26% of the adult population in the U.S., are expected to bet roughly $23.1 billion on various bets for the Big Game.

It’s an increase of 35% in overall betting participation for the Super Bowl and 44% in total wager amount. Last year, Americans spent $16 billion on bets surrounding Super Bowl LVII, which Kansas City won over the Philadelphia Eagles. The American Gaming Association compiled the figures based on survey results.

Before legal gambling expanded, betting was more common among friends or Super Bowl pools. However, for the second straight year, traditional sports betting and online wagering is the more popular route. While 42.7 million American adults plan to place a traditional wager, up 41 percent from 2023, 36.5 million plan to bet more casually, which is also up by 32% over last season.

According to the AGA survey, bettors are nearly split on the outcome of Super Bowl LVIII. Roughly 47% of betters are planning to wager on the Chiefs, while 44% are planning to put their money on the 49ers.