5.6M Legal Betting Accounts Active During Super Bowl
When Super Bowl weekend comes around it is all but certain that betting enthusiast are going to participate. As to how many do participate, the active legal online betting accounts are a pretty good indication. So that the most recent Super Bowl saw a stunning 5.6 million accounts active is nothing short of amazing. The statistics come courtesy of GeoComply, a company based around top of the range cybersecurity, and geofencing.
To put it into perspective, GeoComply also confirmed the number of transactions that took place over the weekend. The reported number is 80 million, which almost seems to defy belief. More so that this is 2.25 times more than the number of transactions that took place during last year’s event.
Analysing The Details
GeoComply focuses on geofencing, a term that refers to ensuring that betting does not take place across state lines. The company also handles transactions but doesn’t differentiate between which are actually related to betting. A spokesperson also stressed that just because 5.6 million legal online betting accounts were active, this doesn’t necessarily mean that every user placed a bet.
Still, the spokesperson declared that the numbers are a fairly good indication of how the market is performing. That around 12 million of all weekend transactions occurred during the second half of Sunday’s game, for example, is a statistic that speaks for itself.
Though the uptick in activity may also have had to do with just how close the match was. The Los Angeles Rams managed an almost literal last-minute win against the Cincinnati Bengals. With the final score sitting at 23 to 20, the winning touchdown came with just 1 minute and 25 seconds left on the clock.
A Growing Market
The fact of the matter is that legal sports betting in the United States is a rapidly growing market. 30 states now allow legal wagering, which equates to around 40 million more bettors than the previous year. So that the handle numbers have jumped so high really isn’t much of a surprise.
The biggest change since last year, however, is online wagering being made legal in New York. Previously sports wagering was only allowed in land-based casinos, drastically restricting who was able to get involved. To put it another way; the first month that online sportsbooks went live in the state recorded a betting handle of $1.6 billion. This is the highest number ever seen in any state, over the course of a single month.