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The Super Bowl is the gambling holiday of the year.
It's already been estimated that nearly $23 billion will be wagered on the big game. But where does all that money come from?
A decent amount will obviously be on the Kansas City Chiefs and San Francisco 49ers to win. And bettors are surely hammering the over/under.
For BetMGM, a minority of the wagers are actually on the spread, moneyline and total.
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Some of the more than 400 proposition bets for Super Bowl LI between the Philadelphia Eagles and the New England Patriots are displayed at the Race & Sports SuperBook at the Westgate Las Vegas Resort & Casino Jan. 26, 2018, in Las Vegas. (Ethan Miller/Getty Images)
Gary Deutsch, BetMGM's chief financial officer, estimates that roughly 60% of wagers have been on prop bets.
In normal sports wagering, props typically revolve around players. Bettors are able to wager an over/under on a certain player's receiving, rushing or passing yards. In baseball, one can wager simply if someone will record a hit.
There are countless other props for any game. One could even bet on whether there would be a hole-in-one at this weekend's Waste Management Open at TPC Sawgrass.
But for the Super Bowl, the prop bet market multiplies by infinity. Gamblers can go way beyond the game itself and can now wager on the result of the coin toss or the color of the Gatorade poured onto the winning coach. Outside the United States, there are plenty of bets involving Taylor Swift, including if Travis Kelce will propose to her after the game.
Since gambling has become legalized in much of the country, prop bets have
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