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Colorado consumers add to a historic amount of Super Bowl bets

31 Million Americans plan to bet a combined $7.6 billion
Colorado consumers add to historic amount of Super Bowl bets
Posted at 2:10 PM, Feb 11, 2022
and last updated 2022-02-11 20:13:34-05

COLORADO SPRINGS — The big game will kickoff this Sunday right here on News5. The Rams and the Bengals will battle for those championship rings. News5 has a look at the record setting number of bets that are coming in as part of the big game weekend.

The popularity of sports betting continues to explode nationwide as more states have joined Colorado in legalizing wagers for online and in-person sports gambling.

Right now, Colorado is one of 30 states that stands to benefit from revenue generated by record amounts of legal sports betting heading into this Sunday.

According to the American Gaming Association more than 31 million Americans plan to bet a combined $7.6 Billion dollars on various aspects of the big game.

“You've got 35% more American adults saying they're going to bet on the game and the amount that they're going to wager is 78% more than what they said they were going to wager in 2021," said American Gaming Association Senior Vice President Casey Clark.

This includes wacky prop bets.

“The color of the Gatorade that's going to get poured on the coach at the end of the game. Clear is the favorite. It's followed by orange and then there's blue," said Director of Sportsbook Operations at Draftkings Johnny Avello.

With that kind of money on the line, gambling responsibly will be vital.

"Set budgets, know your limits. Really ensure that you have a game plan and bet responsibly,” said Clark.

At the United States Air Force Academy, Professor of Economics Dr. Jill Harris is working with seniors in her class to track sports betting in the lead up to the big game. Studying this fast moving industry helps make economics a little more interesting for the cadets.

"We know for sure that more people are betting, but we also can tell a little bit from the data, at least nationwide that existing betters are willing to bet more because the markets are becoming potentially more profitable," said Dr. Harris.

This will be the second NFL championship game with legal sports betting in Colorado-- the state has brought in millions of dollars collected from taxes on betting since it became legal.

"I think the key change that legalization has brought again is access to more people to participate, but also more information about the types of bets that are available, the types of prices, the types of spreads, the variety of ways people can engage in their fandom," said Dr. Harris.

As the number of sports gambling options has increased in Colorado so have calls to gambling addiction help lines. This is a time of year when many people will realize they have a problem.

If you or someone you know could use some help in this area, here are some resources that are available...

Gamblers Anonymous
https://www.gamblersanonymous.org/ga/

Problem Gambling Coalition of Colorado
http://problemgamblingcolorado.org/content/contact-us