The Super Bowl is the final game in the NFL season. The winner of the two teams then becomes that season’s champion. In 2022, the LA Rams won the Super Bowl and are the defending champions as all the teams in the NFL begin their season’s campaign to make it to the Super Bowl and a chance of lifting the Lombardi Trophy.
Of course, like many other big events in sport, this major NFL event may inspire even non-sports betting fans to place a Super Bowl bet. Placing money on the big game has become common. Props bets are one of the most popular types of bets, and it wasn’t until the Super Bowl had been in existence for 20 years that props betting became possible. Betting on the time it will take the singer to sing the national anthem is one type of popular props bet.
Below is a look at betting on the Super Bowl and at the impact of the NFL on the American economy.
Who will win this season’s Super Bowl?
The LA Rams may be the defending champions, but the sportsbooks haven’t declared their full faith in them to defend their title successfully. They’ve given the team +1100, or more depending on the sportsbook, on the betting lines.
So if not the Rams, then who? The sportsbooks fancy the Buffalo Bills to raise the trophy, setting them at +600 on the betting lines. The next big favorites are the Tampa Bay Buccaneers, who have received around +700 to 750 on the betting lines.
Then, and never far from being favorites for a Super Bowl win, are the Kansas City Chiefs. They share the same odds as the Rams on the betting lines. The Green Bay Packers also receive +1100, or 1200 depending on the sportsbook.
Big money being bet on the Super Bowl
The US has really embraced sports betting since the Supreme Court’s decision to allow to states to legalize sports betting. If the predictions before this year’s Super Bowl were anything to go by, you can be sure sportsbooks are going to take in exceptional sums come Super Bowl time.
For the big match between the LA Rams and the Cincinnati Bengals, the American Gaming Association predicted that around 31.4 million Americans would be having a flutter on the event. The association also believed citizens would place around $7.6 billion on the big game. Meanwhile, sports betting operators lock in serious competition and spend millions of dollars on marketing and bonus bets to encourage fans to use their services.
How the NFL helps the economy
Naturally, the massive amounts of money betting on the Super Bowl, and on the NFL in general, and also the everyday of existence of the league, is of major benefit to the economy. The sheer scale of the audience the NFL reaches lends a strong boost to economic prosperity.
Local economies enjoy a real thrust from the league because the games create tourism. This is especially the case in smaller states. Hotels fill up and restaurants become fully booked. The NFL also helps to generate more sales of alcohol in bars and grocery stores.
Then there is the massive amount of money NFL merchandise creates. Fans of the league help the manufacturers of NFL jerseys, scarves, hats and other items all to stay in business.
Of course, the league itself is also an employer. Schedule planners, players, coaches, groundskeepers and other staff all work for the NFL.
One thing that may surprise you, however, is that despite the NFL’s massive contribution to the company, the league is tax exempt as it’s a professional football league. A previous Senate bill has attempted to change this, though, and even before the bill, the league had volunteered to renounce this tax-exempt status. Leaders in the league felt that tax emption would create PR and political headaches for the organization.
Businesses that wish to advertise benefit from the NFL. Advertising during games is a big opportunity for advertisers. This is especially true of the Super Bowl and companies will pay millions of dollars to be able to screen a commercial during the Super Bowl.
Players themselves can also benefit from advertising. Some players even earn more from advertising deals than from their contract with their team. Basketball great Michael Jordan may have been the first to benefit from making advertising deals with companies, but NFL players are making the most of these opportunities as well now.
The Super Bowl is a massive event and even people who don’t engage in sports betting regularly can’t resist placing a wager on the outcome or other aspects of the big game. The NFL makes a huge contribution to the economy through the creation of employment and through attracting fans, who spend money on merchandise, on visiting games or on the services or facilities in the areas around NFL stadiums. It’s a huge opportunity for everyone,