Missouri is the only state to have launched legal sports betting since the previous Super Bowl, limiting fresh sources of growth. Last year’s Super Bowl produced an unusually strong 17% hold for sportsbooks, a level Bender does not expect to repeat. The Super Bowl typically accounts for about 1% of annual betting volume, roughly equivalent to three average days of activity. Although New York is the largest legal betting market in the country, it has never topped the Super Bowl leaderboard. Nationwide Super Bowl betting revenue is expected to exceed $100 million, assuming an average hold of at least 6%.