A Paysafe study now suggests that the upcoming Super Bowl LX, due to take place in Santa Clara, California, will see a significant amount of legal betting action.
According to Paysafe, 51% of fans in the United States and Canada will choose a legal betting market to place a wager, with 27% expected to wager more than usual.
In the report, called All the Ways Players Pay: Super Bowl, the report also outlined strong pro-betting trends in some of the largest states in the United States that have not yet regulated the activity.
Californians, Texans, and Alberta residents are particularly keen on placing a bet on the Big Game, but since local sports betting is not yet regulated, they may turn to out-of-state options or daily fantasy sports.
Paysafe has also gauged consumer preferences and what determines a good experience overall from placing a wager. The choice of payment method was cited as one of the most important factors for fans placing bets on the outcome of the game.
Commenting on the upcoming game, Paysafe President of Global Gaming Zak Cutler said:
"Super Bowl LX is expected to generate a record $1.71bn in legal wagers from the U.S. market alone, with significant betting volume also expected in Canada’s Ontario. This game represents a massive growth opportunity for North American online sportsbooks, and our research shows that operators that focus on streamlining the payment experience will gain a competitive edge in a crowded market."
Streamlined payouts were cited as crucial for 37% of respondents, with 43% of respondents prioritizing the reputation of a sportsbook. Rapid deposits (25%) and a wide range of payment methods (24%) were also key factors influencing bettors’ choices.
59% of Super Bowl and NFL fans in several states – Florida, Massachusetts, New Jersey, New York, Ohio, Pennsylvania, and Ontario, Canada – will be placing game-day wagers, the report added.
In terms of specific payment methods, respondents prioritized debit cards in 43% of cases, but 42% added that they also use digital wallets. Some states, though, still see many consumers opt for credit cards, including New York, where 51% of sports bettors report using them, along with 47% in Ontario, and 33% overall.
Other payment preferences include local payment methods like Venmo in the U.S. and Interac e-Transfer in Canada (20%), pay-by-bank solutions (17%), and eCash (10%), all of which could give sportsbooks a competitive advantage.
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