This Sunday is a big day for gamblers as the New York Giants and the New England Patriots face off in the Super Bowl. Surveys expect that close to 173 million Americans will be watching the game and food, apparel and merchandise isn’t the only way they’ll be spending their money.
An estimated 25 million Americans, or 11% of the adult population, will be betting money on the big game, according to The Poll Position.
The younger you are, the more likely you are to bet: 19% of 18- to 29-year-olds will gamble on the game. Men are far more likely than women to bet (18% vs. 5%). And broken down along political lines, 16% of Democrats will bet, compared to 12% of Republicans and only 5% of independents.
According to Smart Money
, Las Vegas betting parlors are expecting to take in $90 million in wagers for the game. That doesn’t count the money through offshore betting sites, illegal bookmakers or between friends.
And there is just so much to bet on when it comes to the Super Bowl, everything from the obvious, such as who will win the game or who the MVP will be, to what color Madonna’s hair will be when she begins the halftime show or what will happen with the Dow Jones the next day.
The Patriots are the favorites by three points. Of course when these two teams faced off in the Super Bowl three years ago the Pats were favored by 14 points and ended up losing 17-14. The famous David Tyree helmet catch is another betting possibility (over/under 1).
One of the most popular bets is always the total number of points that will be scored by both teams. The over/under is at 55; a high average, but justifiable considering both teams are fairly high scoring and the stadium is indoors.
And seeing as how Eli Manning is leading the Giants, gamblers are betting on how many times big brother Peyton Manning, injured quarterback of the Indianapolis Colts (also the city where the game is being played), will be shown on TV during the game (over/under 3.5). For Patriots quarterback Tom Brady, there’s an over/under of 0.5 for how many times his supermodel wife, Gisele Bundchen will be shown during the game.
Just like in investing, gamblers might want to look to hedge their bets. Don’t go all in on big bets for the Patriots just because you’re a fan. If the Giants pull out another upset, the sour look on Patriots’ coach Bill Belichick’s face won’t be near to how horrible you’ll feel losing all that money.
Instead, maybe also place some small bets on the Giants, such as how many sacks defensive end Justin Tuck will have, or how many touchdown passes Manning will throw. Just because your team loses doesn’t mean you can’t minimize your financial losses.
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