Super Bowl 2023: Gambling industry set for record-breaking game

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Gambling companies are lining up for a record-breaking Super Bowl, expecting billions of dollars to be spent on wagers.

The matchup between the Philadelphia Eagles and the Kansas City Chiefs is hotly anticipated, not only because of the caliber of teams but also because it is the first year that the country’s biggest sports game will be held in a state with legalized sports betting — Arizona. It also comes as more states have allowed the practice.

The transition toward legal sports betting began in 2018 when the Supreme Court ruled that a 1992 law prohibiting the activity was unconstitutional. That landmark decision paved the way for states to legalize sports betting, and each year, more states have begun offering residents the opportunity to place legal bets.

Johnny Avello, director of race and sportsbook operations for betting giant DraftKings, said that he is also betting that this year’s Super Bowl will once again be the biggest one for the industry since sports wagers were legalized nearly five years ago.The boom in sports betting is not only big business for casinos and gambling operators such as DraftKings, FanDuel, and BetMGM, it is also big business for the NFL. The practice is becoming increasingly enmeshed in sporting culture.

“So for the Super Bowl, there are so many prop odds and things like that … they definitely lure people in … I think it just gets people excited and more into individual elements of the game that are happening there,” Paul said.

 

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