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Money Talks: Super Bowl Betting a Game In Itself
Just as the Super Bowl has taken on a life of its own, so has wagering
on the game as it has evolved into the biggest single-day sports
gambling event in the nation.
News
reports on the Internet indicate that nearly $6 billion is expected to
be wagered on this Super Bowl — with over $5 billion of the betting done
illegally with local bookmakers. Nevada is the only state where sports
betting is legal. The Nevada record for Super Bowl betting is $77.3
million, set in 1998 when the Denver Broncos played the Green Bay
Packers. Casino executives expect the number to be between $75 million
and $80 million for this year’s Super Bowl.
There are also the new-age gambling outlets, the offshore Internet sites
that offer you every form of sports betting. Most people can’t get to
Nevada, so Internet gambling has mushroomed into a huge Super Bowl
betting outlet.
Christiansen Capital Advisors, a leading management consulting and
market research firm servicing the gaming and entertainment industries,
estimates that between $375-400 million will be bet on the Super Bowl
through online sports books alone this year, an increase of between
$50-75 million from 2002.
Compared to the $71.6 million wagered with land-based sports books in
Las Vegas in 2003, online gambling is rapidly gaining popularity and
acceptance among consumers throughout the United States. Congress, state
and federal officials and consumer watchdog groups try to ban this form
of gambling, but policing the Internet and the offshore betting sites is
nearly an impossible situation.
"The Super Bowl is undeniably the biggest sporting event of the year in
America. And therefore it captivates one of the largest, most diverse
groups of viewers who wager money to give themselves a vested interest
in the outcome of the game," said David Carruthers, CEO of
BetonSports.com. "As more and more consumers realize the advantages of
online gambling as a safe, private and convenient means of
entertainment, the Internet will become the preferred destination for
wagering on sports, not Las Vegas."
Read the
entire article at:
New Haven Register
2004 Online Casino News Archive
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