Over $24 Billion Could Be Wagered On The NFL This Season

This could be a major year for NFL betting, as the pro football betting handle for the upcoming 2023 season is predicted to be around $24 billion. Almost $1 billion of that handle is expected to come from Super Bowl wagers alone. One of the top factors with this increasing number is the growing number of states with legal sports betting, with some states looking to wager on a full NFL season for the very first time.

NFL Betting Handle Might Exceed $24 Billion

With the pro football season kicking off on September 7th, 2023 with a showdown between the Super Bowl champion Kansas City Chiefs and the Detroit Lions, many are wondering what the betting numbers for the upcoming year could look like. TheLines has recently released its projected betting handle for the 2023 NFL season, and it appears that some records could be shattered.

TheLines predicts that throughout the 2023-24 NFL season, over $24 billion could be wagered on different pro football events. Around 70% of this number, or $17 billion total, is expected to come from straight pro football wagers. The rest, meanwhile, looks to come from parlay bets that include NFL wagers alongside other leagues such as the NHL, NBA, and MLB.

Unsurprisingly, the Super Bowl is projected to be a major contributor to this total handle, with nearly $900 million expected to be wagered throughout the week of Super Bowl 58. This makes sense, as last season’s Super Bowl between the Kansas City Chiefs and Philadelphia Eagles was expected to exceed $1 billion in total wagering handle.

New Sports Betting Markets Should Contribute

Since the kickoff of the 2022 NFL season, numerous states have launched sports betting markets. Some of these states rolled out legal sports wagering during the NFL season, with Maryland sports betting going live on November 23rd, 2022, just in time for wagers on Thanksgiving NFL games.

New Year’s Day of 2023 saw another major market launch, with Ohio sports betting becoming available. The first month alone for the state’s betting industry was huge, with $1.1 billion in January handle and $209 million in revenue. Additionally, $20 million in taxes were collected for the state to start the year.

Massachusetts sports betting also launched this year, although not fully in time for its residents to wager on NFL games. The Bay State has been taking mobile bets since March 10th of 2023, and local fans will be eager to place wagers on the New England Patriots throughout the year. Retail sports betting has also been available to Massachusetts bettors since January 31st, 2023, so locals were able to wager on the Super Bowl this year.

In addition to these areas, at least two new states could start taking bets during the pro football season: Kentucky and North Carolina. Kentucky will likely see major numbers, as Governor Andy Beshear is looking to have Kentucky sportsbooks up and running before the 2023 NFL season kicks off. North Carolina sports betting, meanwhile, is more likely to become available in early 2024, meaning local sports fans might miss out on betting during the regular season.