Thanksgiving and football are the ideal pairing because both are distinctly American, and while sports wagering isn’t a US-only phenomenon, plenty of domestic bettors will feast on football betting along with their turkey this week.
In a new report to clients, Macquarie analyst Chad Beynon estimates that US bettors will place $4.5 billion worth of wagers this week in regulated markets. Beynon defines Thanksgiving Week as the period spanning November 25 to December 1.
That forecast implies year-over-year growth of 11%, and while that $4.5 billion will likely include other sports, namely basketball, football — led by the NFL — will do the heavy lifting.
Football is the most wagered-on sport in the US and this Thanksgiving, a record 38 states and Washington, DC will permit some form of sports betting. Beynon estimates betting volumes will surge 15% this week compared to last year and the NFL is obliging bettors. There are three games on Thanksgiving, and the Kansas City Chiefs will face the Las Vegas Raiders on Black Friday. That’s followed by the usual Sunday slate.