Super Bowl Betting Breaks Records, While North Carolina Prepares for March Launch

A record amount of money will be bet on Super Bowl 58, taking place in Las Vegas on February 12. Experts estimate over $1.6 billion will be wagered, breaking last year’s record of $1.08 billion. Sports betting apps see huge spikes in downloads during the Super Bowl, almost doubling compared to other times of the year.

“We see growth year after year,” says Chris Cylke of the American Gaming Association. “Going into 2024, optimism continues that the trend will keep increasing.”

While the North Carolina online sports betting market won’t launch until March, preparations are underway. On March 1, people can start downloading the apps. Betting starts March 11, just in time for March Madness.

Top Sports Betting Apps for the Big Game

The week before last Sunday’s NFL Conference Championships saw 501,000 sportsbook app downloads. That’s a 25% drop compared to 2023, per data from JMP Securities.

The top apps downloaded were:

  • FanDuel – Has almost half of the U.S. sports betting market share, at 47%. Had 29% of recent downloads.
  • DraftKings – Became #1 U.S. sportsbook in August 2023 by revenue, though narrowly trails FanDuel. Makes up 25% of downloads.
  • BetMGM – Currently third biggest sportsbook. Aims to control 25% market share by 2026. Accounted for 14% of downloads.
  • ESPN Bet – Launched late 2023, quickly grabbed market share with big sign-up bonuses. Owns 11% of downloads.
  • Caesars, Fanatics, Bet365 – At 6% each. Have money and brand recognition to keep growing.

The Same Big Names Will Come to North Carolina

These major sportsbooks will likely be the same ones dominating when North Carolina launches mobile betting next month before March Madness. Those looking forward to legally betting in the state can expect to see a BetMGM North Carolina bonus code offer, along with promos from the other big names.

While the Super Bowl Bets Keep Flowing, Daily Fantasy Sports Still an Option

North Carolinians will have to wait until March Madness for online sportsbooks. In the meantime, daily fantasy sports (DFS) apps offer a legal way to get action on the Super Bowl.

Prop bets are especially popular. PrizePicks, where users predict players’ stats, sees huge DFS handle for the big game.

Top DFS Apps for the Super Bowl:

  • PrizePicks – Most prop bet options. Has 48% of downloads.
  • Underdog Fantasy – Another prop bets leader. Makes up 18% market share.
  • Sleeper – Just launched prop picks. Chat feature enhances user experience. At 12%.
  • Betr Picks – Props with big payout multipliers. Currently 10% share.

Expect Records to Be Broken

The Super Bowl brings in as many bets as March Madness. JMP Securities believes this year’s handle could reach $1.6 billion as the event continues to grow. While North Carolina won’t participate in betting on the Super Bowl, all eyes look ahead to March Madness.

✅ Fact Checked on February 7, 2024 by Ken Weaver