Super Bowl LVI is going to be huge in every way possible, including the bets laid in the lead up to the Cincinnati Bengals taking on the Los Angeles Rams.
According to recent reports, U.S. bettors will wager nearly $8 billion on the big game, which is up from the record $4.3 billion bet on last year’s event, via CBS Sports.
If you are looking for a reason, it’s the fervor over the sport, sure. But it’s also due to accessibility.
“More states, more sportsbooks, more advertisements,” Adam Chernoff, NFL expert and senior strategist at Covers.com, tells En Fuego by email. “Even if it was just New York, this would smash records at the rate bettors are wagering within the state. But adding in a handful of other regions around the country that have legalized betting this year, we are going to see huge numbers everywhere.”
Chernoff offered thoughts on a game that will garner an absurd amount of attention from bettors across the country.
Ride the Line
The most obvious question is the line. As it sits as of this writing, Covers.com has the Rams as -4 favorites heading into the weekend. While there is bound to be a lot of action, it should hover around there.
“It is unlikely that we see much movement between now and kickoff,” Chernoff offered. “The LA Rams have been a -4 or -4.5 point favorite since early last week. One sportsbook in Las Vegas showed a -5 on the Rams yesterday, but it did not last.
“In speaking with two of the most prominent bookmakers in the United States, they are quite pleased with the game where it is because so many people are betting Cincinnati. They are welcoming Bengals action, as they side with the Rams in a big way.”
So, there you sit, wondering if this is the year you pull the trigger and put your sports wisdom to good use. Well, kick back, turbo. Chernoff agrees that there are reasons to throw your own money in the pot, you should be sensible and go with eyes wide open.
So You Want In On The Action?
For anyone new to sports betting, the expert says that you should be prepared for one outcome, and that’s to lose.
“This is the most bet-on game of the entire calendar year in the United States,” he explained. “Bettors have been wagering hundreds of millions of dollars for two weeks.”
“If a new bettor is signing up to a sportsbook thinking they have an edge on the game or prop this close to kickoff, they do not stand a chance. Nearly everything - except for player prop unders - has been bet into place by professionals and droves of money.”
There is a but, and it’s a mighty nice one if you are still willing to take a stab at your own luck.
Many books do offer incentives that make the entire enterprise a bit more palatable, especially for those financially reticent sports fans.
“However! There are dozens of first deposit bonuses available for new players to take advantage of,” Chernoff explained.
“New bettors should do their best to acquire all bonus money possible while they are still being offered. These promotions are not too good to be true. Sportsbooks are investing huge in customer acquisition and the Super Bowl is a massive week for new players. Get as much bonus money as possible and bet to have fun knowing you are most likely going to lose.”
Seriously, you’re going to lose. If you go in with that assumption you do yourself and that ol’ ticker of yours a huge service. Stay away from the notion of a lock, because, as Chernoff says, there’s no such thing.
When it comes to the Super Bowl, the experts have already thrown their money into the mix long before kickoff.
“All good betting opportunities were gone by Friday last week,” he said but mentioned that there is still reason to consider a wager. “The best betting opportunities remaining are going to be on game day about two or three hours before kickoff, and they will all be on player prop unders.
“The Super Bowl attracts more money than any other game all year. Bettors tuning in are not opening accounts and depositing money to bet on things not happening and the game being boring. Because there is so much volume, the money that typically does not have an impact on moving odds collectively moves prices up.”
However, the value remains on players that garner attention, such as Cooper Kupp and Odell Beckham Jr.
“Should players bet under on each? Absolutely not,” Chernoff concludes. “But, they should wait and see which move up the most between now and kickoff, then consider taking the under.”