New Jersey is one of three states expected to see above $100 million wagered on Super Bowl LVII at legal online and retail sportsbooks, according to projections by PlayUSA, which provides news and analysis of the US gaming industry.
The Garden State projects a handle of $115.5 million, behind only Nevada and New York among 34 legal markets across the US. However, these projections are a nearly 20% drop from last year’s $143.7 million handle, falling more in line with the $117.4 million wagered in 2021.
New Jersey sportsbooks won’t challenge last year’s handle for a long time, if ever
Despite a 20% projected decrease in wagers, this year’s Super Bowl will still be successful for New Jersey sportsbooks. Last year’s record-setting totals seem unreasonable to catch, mainly due to more states legalizing sports betting.
Still, New Jersey should remain a top-three market in a competitive nationwide industry.
Eric Ramsey, market analyst for Catena Media, said:
“Unfortunately for New Jersey’s local betting industry, expansion in New York means that the biggest Super Bowls might very well be behind us. On the other hand, the Eagles’ participation could very well keep New Jersey in the mix with Nevada and New York for at least one more year – perhaps even challenging for the silver medal once again this time around.”
Given projections, New Jersey should look at this year’s Super Bowl to establish a baseline for future years. Other states may challenge in the future, but New Jersey will remain near the top and continue to make headlines for the foreseeable future.
Philadelphia Eagles’ appearance could make 2023 the second-best year
The Philadelphia Eagles will be looking for their second Super Bowl title in franchise history. The Birds will be squaring up against the Kansas City Chiefs, led by Andy Reid.
Reid coached the Philadelphia Eagles for 14 seasons (1999-2012) and remains the the all-time winningest head coach in franchise history (130-93-1).
With Philly’s proximity to New Jersey and Atlantic City casinos in particular, the Eagles’ participation could give sportsbooks the bump they need to surpass the $117.4 million handle. Given the Eagles’ dominance through both the regular season and the playoffs, casual fans may have even more incentive to place a bet on their team.
Ultimately, these bettors will not make up a significant amount of the pie, as many will be smaller-ticket bettors. Regular bettors and high-stakes bettors will have money on the game regardless, but if sportsbooks can take in a few extra million, they could produce their second-best Super Bowl totals in state history.
Responsible gambling at the forefront of Super Bowl betting
The Super Bowl is the largest sports betting event of the year. Fans bet on all aspects of the game, including props for non-football elements like the length of the national anthem and the color of Gatorade to be dumped on the winning coach.
Add in traditional spread and over-under bets, squares and more, and it’s easy for some to get carried away.
Around 2-3% of the population struggles with gambling addiction, and the Super Bowl can be a treacherous trigger.
As such, the Super Bowl is also the most important day to practice responsible gambling and encourage those around you to do the same. Always set and stick to your limits, and be aware of any signs of problem gambling in yourself and others.
