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Sportsbooks all over the globe will take bets on every aspect of this Sunday’s Supe Bowl matchup between the Eagles and Chiefs in the United States. This includes the outcome of the game, as well as the time it takes Chris Stapleton to perform the National Anthem. Cloudbet, an online sportsbook and casino that specializes in cryptocurrency betting, estimates that these bets could reach upwards of 20 Billion US dollars by the end of the game.
A spokesperson for Cloudbet stated that “Many states in America have legalized sports gambling over the last few years, leading trade groups to estimate at minimum $16B in US revenue alone for the 2023 Super Bowl”. “We believe that the US market will account for approximately two-thirds Super Bowl betting. This means that at least $20B worldwide turnover is possible.”
Cloudbet estimates that there is a potential for $500M to be placed in cryptocurrency. According to a spokesperson, “We are seeing two trends in crypto that suggest a large Super Bowl bet total this year for crypto.” First, cryptocurrency is being increasingly adopted by corporations and individuals around the globe. Our own platform saw record-breaking user growth last year, indicating a growing desire for crypto users to not only wager on crypto but also to use crypto.
Cloudbet also stated that gambling advertising during sporting events has had an impact on growth. Cloudbet says that they don’t pay for sponsorship or broadcast advertising during sports events. Instead, we invest our money in attracting customers with better odds. However, those ads do work and our site is seeing more organic traffic as people search for places to bet online on sports and crypto-to place bets.
Some sportsbook advertisers will likely spend a lot of money during the Super Bowl, with at least 100 million viewers worldwide. This will result in a lot of sports fans looking for “where to place bets online” on Sunday. The global 2024 totals could rise if even a small fraction of these people create new accounts and continue to bet into the next season.
