Super Bowl LIII Positioned As The First Legal Super Bowl to Bet On, Injecting Billions into the Sports Betting Industry
PayPerHead, an industry-leading sportsbook software company, is anticipating unprecedented profit and growth throughout this year’s Super Bowl LIII as its the first ‘legal Super Bowl’. The company is attributing industry record-breaking profits to recent legalization throughout key US states.
Nate Johnson, Product Manager of PayPerHead.com explained, “We recently reported on an increase of viewership for Super Bowl LIII. However, we believe that Super Bowl LIII will continue to break anticipated numbers due to the introduction of legal betting.”
Recently, the state of Rhode Island legalized sports betting in November 2018. It has been reported that the state is looking towards recently legalized sports betting to fill a $200 million budget hole.
With the New England Patriots playing in Super Bowl LIII, New England and Rhode Island residents are taking full advantage of legalized sports betting.
Johnson explained that “New England residents are waiting for hours in line to get their bets placed, leaving many to look towards a mobile option. According to our agents and users, many are looking towards another option or creating their own.”
In May of 2018, the state of Nevada also legalized sports betting, allowing the public to openly bet on their favorite teams, sports or props. Recently, it has been reported that Super Bowl Betting has increased by $26.1 million dollars in the past year alone.
It’s estimated the average sportsbook covers approximately 64 different prop bets relating to the Super Bowl, ranging from the halftime show to players to score first.
While the ‘legal’ Super Bowl LIII viewership is expected to drive large industry profit, PayPerHead is also attributing its growing demographic as a key part in its growth and record-breaking profit. In a recent finding, PayPerHead’s female audience grew to +30%, accounting for over a third of their total audience.
“I think that people are starting to see the true opportunity and financial freedom that a sportsbook can bring,” explained Johnson. “Legalized sports betting has started to end the stigma and reservations that people have around opening their own sportsbook.”