Americans are expected to wager an eye-popping $23 billion on 2024 Super Bowl

Gambling records have surged in anticipation of Super Bowl LVIII and more than 68 million people in the United States will participate in some betting on the big game, according to the Gambling Industry National Trade Association.

According to the trade association, around 26% of American adults are expected to place a wager on the upcoming big game, which is a 35% increase from last year's Super Bowl. Bettors are estimated to place wagers totaling up to $23.1 billion, which is a $7 billion increase from 2023.

The trade association has revealed the locations where people will place bets. Reportedly, 42.7 million American adults will place a traditional sports wager online, at a retail sportsbook, or with a bookie. Additionally, 36.5 million individuals plan to engage in casual betting with friends, or participate in a pool or squares contest.

As of Wednesday, bettors are split on the outcome of the game, with 47% placing bets on the Kansas City Chiefs and 44% placing bets on the San Francisco 49ers.

Sports betting is currently legal in 38 states, including Washington, D.C.

San Francisco 49ers vs. Kansas City Chiefs Chiefs odds, spread and lines for Super Bowl LVIII

The San Francisco 49ers are favorites to defeat the Kansas City Chiefs in Super Bowl LVIII according to the BetMGM NFL odds. Looking to wager?

Check out the best mobile sports betting apps offering NFL betting promos in 2023.

All odds as of Wednesday.

• Spread: 49ers (-2)

• Moneyline: 49ers (-130), Chiefs (+110)

• Over/under: 47.5

How to watch Super Bowl LVIII: TV, streaming and schedule for San Francisco 49ers vs. Kansas City Chiefs

When: Sunday, Feb. 11 at 6:30 p.m. ET

Where: Allegiant Stadium, Las Vegas, Nevada

Cable TV: CBS

Streaming: Paramount+; YouTube TV; Sling; FuboTV

How to watch: Catch the Super Bowl with a Fubo subscription

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This article originally appeared on USA TODAY: Super Bowl 2024 betting expected to break records, surpass $23 billion