February 8th, 2024, Rishad Dsouza
The Super Bowl LVIII presents an opportunity for sportsbook organizations to expand their user base. Two-thirds of those likely to engage in Super Bowl betting this year say they are inclined towards opening a new online sportsbook account in order to do so (67%). This includes the 26% of those who say they are very likely.
So, what are the factors that would motivate these potential bettors to open new accounts? Two-fifths of those who say they are likely to open new accounts say that positive reviews and recommendations from other bettors would influence their decision (41%). This means that word of mouth is about as important a factor as attractive sign-up bonuses or special Super Bowl promos (39%). A third of them would also factor in the ease of loading and withdrawing funds (34%).
Factors such as user-friendliness (34%), referral incentives (32%) and a range of betting options (32%) hold about equal sway. About three in ten consumers would also look at factors such as personalized recommendations based on past betting preferences (30%), enhanced odds (29%) and attractive loyalty schemes (29%).
While things like promos and attractive odds are always a big tempter, it is worth noting that factors such as user experience are being viewed as influencing factors by nearly as many bettors. Brands that want to grow must find the balance between delivering good offers and providing good experiences, positioning themselves as brands that users would be likely to recommend.
How many Americans are likely to bet on Super Bowl LVIII, and how?
Nearly a fifth of Americans are likely to bet on the Super Bowl in one way or another. In fact, at the time of polling, 3% have already placed their bets and another 17% say they are likely to (8% very likely + 9% somewhat likely).
Younger Americans, those aged between 18-34, are significantly more likely to have already placed a bet or to say they are likely to place a bet (35% vs 11%). Those aged over 55 were the least likely of all to do so (8%).
Among those likely to bet, online sportsbooks (via websites) is the most commonly picked option, chosen by 44% of these potential bettors. A slightly lower proportion of them say they will wager through a mobile sportsbook app (36%). But offline betting still has its place in the US market - 23% of potential bettors saying they would bet on the Super Bowl at a physical sportsbook or casino. These mediums are not mutually exclusive with significant levels of overlap detected. For example, 40% of those who say they will bet offline also indicate a likelihood of betting online.
It is worth noting that sports betting remains legally inaccessible in many parts of the US even though an increasing number of states have legalized online sports betting recently. Perhaps this is why unofficial bets with friends and family is among the most common type of bets that will be placed on the big day. Three-tenths of those who said they will bet on the event said they will do so unofficially (31%). We also asked the question to those who said they are unlikely to bet on the Super Bowl, and 38% said that if they were to place a bet it would be of the unofficial kind.