With 99 million viewers in 2022, “more Americans tune in to the Super Bowl than any other television broadcast.” Its large viewership, combined with expanding legislation, has led to ballooning wagers.
Annual Legal Bets on the Big Game
From 2013 through 2018, sports betting was only legal in Nevada and year-over-year growth was low. However, when the federal sports betting ban was lifted in May 2018, more states started allowing bets.
By 2022, 33 states plus Washington, DC were legally able to bet on the game. Wagers climbed quickly as a result.
Data only for states that report bets on football’s big game, see graphic for full list of states included in 2022.
Impressively, legal bets surpassed the $1 billion mark in 2022. Growth was primarily driven by New York State legalizing online sports betting, with the state contributing nearly $500 million to the total.
Since the New York State Gaming Commission does not report event-specific totals, we have estimated this amount based on sports bets made the week leading up to and including the date of the big game.
Investment Exposure to an Emerging Industry
Due to legalization, bets on football’s big game have grown 10 times larger over the last decade. A further shift away from bookies and toward legal operators appears to be likely. In September 2022, 89% of Americans said it was important to bet with a legal operator this NFL season, up from 76% in February 2022.
For legal operators, this could translate into revenue opportunities. Companies that take legal bets reported more than $62 million in revenue from the big game alone in 2022, a 37% jump from the prior year.
Looking for exposure to the growing sports betting industry? Explore Roundhill’s sports betting ETF, $BETZ.
Sat, 02/11/2023 – 18:40
One day after the US shot down a ‘cylindrical, silverish gray’ object in the northeast arctic region of Alaska, another unidentified airborne object was shot down by the US military over northern Canada on Saturday – making it the third time in just over a week that jets were deployed to neutralize foreign craft.
The North American Aerospace Defense Command said earlier on Saturday that it had identified the high-altitude object, after which Canadian and US craft were scrambled, and a US F-22 filter jet took it down over the Yukon, according to a tweet by Prime Minister Justin Trudeau, Bloomberg reports.
I ordered the take down of an unidentified object that violated Canadian airspace. @NORADCommand shot down the object over the Yukon. Canadian and U.S. aircraft were scrambled, and a U.S. F-22 successfully fired at the object.
— Justin Trudeau (@JustinTrudeau) February 11, 2023
The object was shot down with an AIM 9X missile, the same type used to shoot down the Chinese spy balloon last week, according to the Pentagon.
Canadian forces will recover and analyze the wreckage, Trudeau also said on Saturday, adding that he spoke with US President Joe Biden.
The latest incident comes after the recent incursion of a Chinese balloon over US and Canadian territory that shone a spotlight on Beijing’s alleged surveillance programs and sparked a diplomatic standoff between the world superpowers. The US also downed another unidentified object in Alaska Friday near the Canadian border.
It’s unclear what the latest object is and where it originated. But the US has accused China of a years-long surveillance program in which it deployed spy balloons across the globe, a claim rejected by Beijing.
On Friday, US officials shot down a craft that was ‘roughly the size of a car,’ and smaller than the Chinese spy balloon which was shot down last Saturday. It was similarly taken out by a US F-22. NORAD and US Northern Command said that the US military was conducting recovery operations on Friday’s object near Deadhorse, Alaska. Meanwhile, Northern Command said that the FBI was taking custody of debris from last Sunday’s Chinese balloon.
Also on Friday, the Biden administration put six Chinese groups suspected of connections to China’s spy balloon program on the “entity list,” effectively barring them from providing China with US technology.
Sat, 02/11/2023 – 18:15