Report: Americans to bet $4.76B on Super Bowl

Only 3% of those wagers will be placed legally

Americans are expected to wager $4.76 billion on Super Bowl LII, with the vast majority of those bets placed illegally, according to estimates from the American Gaming Association.

The organization, which represents the U.S. casino industry, released its estimates in a statement on Tuesday.

Only about 3 percent of that $4.76 billion will take place in Nevada, the only state exempted from the federal ban on full-scale sports betting. The rest of the wagers will be made with offshore sportsbooks and local bookmakers, AGA said.



"Thanks to the failed federal ban on sports betting, Americans are spending billions of their hard-earned dollars to corner bookies, shady offshore operators and other criminal enterprises," said Geoff Freeman, AGA's president and CEO. "The big question we're asking: Is 2018 finally the year when government, sporting bodies and the gaming industry work together to put the illegal sports betting market out of business?"

The Supreme Court is currently considering Christie v. NCAA, which challenges the federal law limiting sports wagering. 

At least 14 states are now considering sports betting-related legislation, with more expected to follow suit, AGA said in its statement.

The NBA also appears ready for sports betting to be made legal. The basketball league has called for a wide expansion of legalized sports wagering, but is also asking for 1 percent of every legal bet made on its games in order to formally embrace gambling.

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