What promises to be the most wagered-on sporting event in US history takes place today at SoFI Stadium, with the home team Los Angeles Rams a 4-point favorite over the Cincinnati Bengals.
An estimated $7.6 billion is expected to be wagered, as more than half the US adult population can place a bet. Sportsbooks are now active in 30 states and Washington, DC. Sorry, California – you’ll have to head to Las Vegas if you want to bet legit, as the Golden State is still among those territories where sports betting isn’t legal.
The interest and accessibility of sports betting is only expected to grow. New York State recently came online for mobile sports betting and instantly became the No. 1 state in the nation. Media companies have taken notice, and such companies as Fox, Disney, fuboTV, and WarnerMedia are among the outlets with sports ties.
The over/under for the game is 48.5, meaning winning totals on the score would be over or under that total. The mot popular bet is the pre-game coin toss, with “tails” currently leading.
The largest legal game bet ever placed took place on Friday, when Houston businessman Jim McIngvale, known better as “Mattress Mack,” laid down $5 million on the underdog Cincinnati Bengals. McIngvale has made similar big bets in the past, using them as hedge for special promotion for his mattress company, which offers customers a refund on purchases of more than $3,000 if McIngvale’s pick wins.
A bettor in Las Vegas placed three $1 million bets on the Rams on Saturday, betting on outcomes in the first quarter, and the over/under for the first half, hedging on the high and low scores for the first half.