The recent Super Bowl LVIII showcased a remarkable rise in legal betting activity, as GeoComply reported a staggering 22.3% surge in geolocation checks compared to the previous year. With the Kansas City Chiefs triumphing over the San Francisco 49ers, betting enthusiasts flocked to legal platforms, contributing to a historic milestone in the American sports betting landscape.
Record-Breaking Pre-Game Activity
In the moments leading up to the Super Bowl kick-off, GeoComply documented an unprecedented 14.75 thousand transactions per second, marking a nearly twofold increase from last year's peak. This surge in pre-game engagement underscores the growing enthusiasm for legal sports betting, with a notable 15% rise in active accounts reported.
Continued Growth in Legal Market
The surge in Super Bowl betting activity mirrors a broader trend of growth in the legal betting market. GeoComply's data reveals over 1.7 million new users signed up for legal betting accounts in the two weeks preceding the event, contributing to a total of 8.5 million active accounts across 28 legal US markets.
Implications for the Industry
GeoComply's co-founder and CEO, Anna Sainsbury, emphasized the significance of this growth, highlighting its positive impact on consumer protection and state revenue. With each year witnessing a surge in legal market participation, illegal offshore sportsbooks face increasing marginalization.
Forecasts and Expectations
The American Gaming Association (AGA) had forecasted record-breaking activity for this year's Super Bowl, with an anticipated $23.10 billion in wagers. This surge in betting activity signifies a significant shift towards legal, regulated betting environments, shaping the future of sports betting in the US.