- Super Bowl 57 in Glendale, Arizona will have a massive impact on the state’s economy
- The local economy in Arizona could see $1 billion thanks to Super Bowl LVII
- Catch this quick breakdown of how the Super Bowl will affect Arizona’s economy
Arizona will host the Super Bowl for the fourth time on Feb. 12, and there’s good reason to believe the economic impact will be bigger than ever before.
The Philadelphia Eagles and Kansas City Chiefs are ready for a battle in the desert, and the Grand Canyon State is eager to reap the monetary benefits of Super Bowl 57. As the first state with legal sports betting to host a Super Bowl, local residents and visitors from out of town are able to wager on the biggest game of the year.
Here’s how the Super Bowl will affect Arizona’s economy.
Super Bowl 57 Could Bring $1 Billion to Arizona
It’s no secret that the Super Bowl is the biggest US sporting event of the year, and the state hosting this massive game sees incredible economic benefit.
For example, last year’s Super Bowl generated an estimated $477 million in benefits for Los Angeles County. Plus, Arizona has seen huge economic boosts from previous Super Bowls, with Super Bowl XLIX in 2015 generating approximately $720 million in revenue according to the Arizona Chamber of Commerce and Industry.
It’s important to note that Arizona also hosted the Pro Bowl in 2015, which contributed to the $720 million figure, but there’s one key factor that could push this year’s Super Bowl economic impact all the way up to $1 billion.
As the first state with legal sports betting to host the Super Bowl, visitors coming to Arizona for the big game are able to download Super Bowl betting apps and wager on Chiefs vs. Eagles.
According to Arizona State’s Seidman Research Institute, approximately 80-90% of 100,000 fans attending Super Bowl 57 events will be from out of state, meaning an influx of tourists will be able to legally bet on the Super Bowl for the first time ever. This should dramatically increase the total sports betting volume on Super Bowl Sunday, and in turn, Arizona should see millions more in tax revenue.
Outside of sports betting, local establishments like bars, restaurants, and hotels will see the usual boost that comes with hosting a Super Bowl. Hotel rooms are typically 200-300% percent more expensive during the week of the Super Bowl, and this year should be no different.
AZ Sports Betting Market Is One of the Largest in the Country
The Arizona sports betting market has quickly become one of the most profitable in the country since launching in September 2021. This will be the second year that Arizona has legal sports betting access for the Super Bowl, and states tend to see sports betting volume nearly double in the second February they have wagering available for the big game.
Let’s take a closer look at Arizona sports betting revenue figures from February 2022 and November 2022 to get a picture of how much sports betting revenue the Grand Canyon State is pulling in.
Arizona Sports Betting Revenue
|Month||Handle (Total Betting Volume)||Sportsbook Revenue||Hold Percentage||AZ State Tax Revenue|
All tax revenue from legal sports betting goes to Arizona General Fund, allowing Legislators to allocate funds through the state as they see fit. While it’s difficult to say exactly where Arizona Legislators will allocate the tax revenue from Super Bowl 57, there’s no denying it will have a noticeable economic impact.
With tourists able to claim Super Bowl betting promotions and legally wager on the NFL championship game for the first time ever, it’s safe to say Arizona will see well over $5 million in state tax revenue. That figure could be significantly higher thanks to a huge marketing push around promos like the ‘Gronk Kick of Destiny’ from FanDuel Sportsbook.
Super Bowl LVII Chiefs vs. Eagles in Glendale, Arizona
More US sports betting sites are available across the country than ever before. With the Kansas City Chiefs taking on the Philadelphia Eagles Feb. 12 at State Farm Stadium, in Glendale, AZ, 2023 should see the highest amount of Super Bowl betting action on record.
— NFL (@NFL) January 30, 2023
Following recent state launches like Kansas, Maryland, and Ohio, millions of US sports bettors can legally wager on the Super Bowl for the first time ever. Wagering on the Super Bowl might be the most fun you’ll have as a sports bettor all year, and you can’t go wrong if you’re betting responsibly.
An estimated $1 billion in total legal betting volume could flow through Super Bowl 57, and with Arizona at the heart of it all, the Grand Canyon State will see valuable economic benefits from this year’s big game.