You will never know how huge sports betting is until someone runs you through the amount that was spend betting on the just concluded Super Bowl.

I’m NOT talking a few millions. But billions of dollars that people wagered on the games, making betting companies millions of profits in the process.

The numbers released by the Nevada Commission of Gaming shades light on this, and the spoiler is that the figures are up there.

Sports Betting

According to the commission, people spent a whopping $3.2 billion wagering on sports in the 2011. 41 percent of that amount ($1.34 billion) was spend betting on soccer alone.

Off to the just concluded Super Bowl. As by the records released by the commission, about $98.9 million was bet at Nevada commission on the Super Bowl. The company would end up making a profit of $7.2 million after deductions and paying out bettors.

Confirming the veracity of the report is a financial planning website Mint, which estimates that a whopping $8 billion is wagered on Super Bowl games every year. It also goes on to estimate that about 200 million people get to bet on the outcome of these games worldwide.

Another reliable source CNBC also released another report estimating that about $60 to $70 billion are illegally bet on college football games yearly. Not to mention that about 33 million Americans have a mania for fantasy football which they constantly gamble in with their money.

These figures just confirms the obvious–sports betting is huge business.

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