Wednesday, January 18, 2023

The US Gears up for the Biggest Sports Event of the Year-Super Bowl LVII

The US Gears up for the Biggest Sports Event of the Year-Super Bowl LVII
Super Bowl LVII

Although it is actually the 2020 2 NFC season finale, the Super Bowl LV I is going to be played on the 12th of February 2023. The venue is in Glendale, Arizona, at State Farm Stadium. The last time this venue was used to host the Super Bowl was in 2015. The tension and excitement are mounting across the country as fans everywhere are gearing up for the biggest sporting event of the year.

Alex Windsor, the chief editor at Gamble USA, added, “Super Bowl is always an exciting time in the US, and this year there will be more hype than ever. More states have opened up to sports betting, which always adds a layer of excitement for those watching”

So, Who Is Playing?

The whole industry is buzzing, and plenty of pundits are taking the opportunity to give two cents worth as to who might be taking part in the final. Playoffs are still in progress, meaning it is unsure at this stage who will appear, but sadly it will not be the Arizona Cardinals despite the fact that this is their home ground.

The final answer on who will be in the final comes on Saturday, January 29, but in the meantime, we do know that Rihanna will be making an appearance at the halftime entertainment show. The bookie’s favourites are the Kansas City Chiefs and the Buffalo Bills. Also in the running are the Philadelphia Eagles, the Dallas Cowboys, the San Francisco 49ers, the Tampa Bay Buccaneers, the Minnesota Vikings, the Seattle Seahawks, and the New York Giants.

The Stakes are High

Wagering during the football season is a popular pastime, and the Super Bowl is always one of the highest-grossing events. Some punters only ever bet on the Super Bowl, making their annual bookie pilgrimage. With even more ways to place a bet and even more scenarios to bet on, the activity is increasing year-on-year.

In 2021 Super Bowl recorded over $4.3 billion in wagers, but since then, even more states have bought online sports books into legality. In Nevada alone, the 2022 Super Bowl recorded $179.8 million in bets, and this figure is only set to grow. It is fair to say that in the sporting world, the Super Bowl is one of the biggest global money-makers.

Advertising

CBS television company that screened the Super Bowl LV generated $545 million in revenue from advertising. A 30-second advertising slot screamed during stoppage time cost $5.6 million to any company looking to get in on the action. Last year the coverage was passed to NBC, and they were charging $6.5 million for the same brief advertising spot, and in some cases, companies were paying close to $7 million to secure the prestigious place.

Merchandising and Food

The final revenue stream that helps make the Super Bowl one of the world’s most significant money generators is the merchandising and food that is on sale at the stadium.

The average spend of a Super Bowl fan watching their home team play in their own stadium is $80. In the Super Bowl LV I final, this increased to $167.37 per fan. Calculate this figure statistics for premium dining, sales of merchandise and concessions are added together. Last year was a record year and 14% up on the previously highest-grossing year, which was 2016. One of the reasons why this has so significantly increased is thought to be the ease of transaction, with customers now able to regularly pay for any goods or services using mobile phones and smartwatches. It is estimated that with 70,000 fans at this year’s final, a new revenue record will be set for merchandising and food sales on the day.

🤞 Get our stories on email

We don’t spam! Read more in our privacy policy

close

Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content, weekly in your inbox.

We don’t spam! Read our Privacy Policy for more info.

Follow us onSocial Media

55,631FansLike
9,859FollowersFollow