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With the Super Bowl fast approaching, sports fans around the world are gearing up for some hard-hitting action from football’s finest. As always, the aficionados are discussing the essential statistics, including which teams are likely to win the February 11 showdown. One stat of particular interest in 2024 is the amount of money that will be wagered on the game. Why? Because this year’s Super Bowl is taking place in the home of gambling, Nevada.
Statista data from the last 20 years shows that Super Bowl betting in Las Vegas alone has jumped from $81 million to more than $150 million. These stats don’t take into account the other states that now access in-person wagers or, more importantly, online wagers. A recent sign that the global online gambling industry is reaching new heights in 2024 is the news that Flutter Entertainment will be switching its primary stock exchange listing from London to New York.
The multi-national company offers a range of services through various brands. One of its leading brands in Europe is Paddy Power. The Irish bookmaking brand has become known for its quirky ethos and fun online slot machine games, including Double Digger and Pigeon Hut. The Paddy Power brand has long been popular in the UK and Ireland, not least because of unique promotions such as Paddy’s Wonder Wheel and its daily prizes. Now, like other European exports, it’s becoming a global brand. How? Because the online gambling industry is on the rise, and not just in regions where it has traditionally thrived.
Global Gambling Sector is Reaching New Heights
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As noted in an outlook report, Statista analysts expect the US to “generate the highest revenue” among all online gambling countries in 2024. The projected $23 billion in revenue represents a 20% increase compared to 2023. By 2028, the US online gambling revenue is expected to reach $33 billion. Over in the UK, data from the Gambling Commission published in February 2023 shows that 2023 was a record year. Revenue from all sources hit £15.1 billion ($19 billion) in 2023. Of that figure, £6.5 billion ($8.2 billion) came from online operators.
Further evidence that gambling is becoming a pastime for people around the world comes from a Yahoo Finance report. Australia, Germany, Canada, and France are all listed within the top 15 countries for gambling revenue. Revenue in excess of $10 billion from these countries doesn’t come as much of a surprise. However, when you move out of the top 10, you notice countries such as the Philippines and the Netherlands. As reported by iGaming Business in 2024, gambling revenue in the Philippines reached a record £4 billion in 2023. Fueling this increase is the spread of online gambling platforms. The same trend is happening in Lithuania.
The point here is that gambling has become more accessible to the masses, both literally and figuratively. Internet casinos and sportsbooks are easily accessible via desktop computers and mobiles. These platforms have also lowered the barriers to entry. Customers can play free demo games for fun or wager less than $1 on sports. This isn’t possible in land-based casinos, which is why the internet has made gambling a pastime that’s accessible to people who would traditionally fall outside of the “gambler” demographic. This is the reason why millions of people will be betting on Super Bowl LVIII. Moreover, it’s why Allegiant Stadium in Nevada is a fitting place to hold American football’s biggest event.
