Super Bowl betting is big business, and the coin toss is one of the most popular props

According to the American Gaming Association, an estimated 23 million Americans wagered $4.3 billion on the Super Bowl in 2021

The Super Bowl is the biggest betting event of the year in the United States. Last year an estimated 50 million Americans wagered $16 billion on the game.

According to Christian Cipollini, a senior trading manager who specializes in BetMGM’s NFL division, last year’s Super Bowl drew wagers equivalent to the total number of bets and money placed on a typical three-week stretch of every NFL regular-season game played during that span.

“So obviously, that is huge, massive,” Cipollini said. “And obviously for us, it’s important to get a good result and make sure we do everything correctly because you get this game wrong, you really start off on a bad spot and you can imagine basically being three weeks’ down just off of one game.

“But yes, in general, it’s our most bet-on game and we anticipate this to be the most bet-on Super Bowl for BetMGM. Last year’s was pretty high, but we think this one will probably top it.”

The Chiefs opened as 1.5-point favorites over the Eagles and Cipollini doesn’t expect that to move much, if at all.

“This line feels exactly where it should be,” he said.

The total, otherwise known as the “over/under,” has jumped to 49.5 from 48.5, indicating bettors are hammering the over.

No one knows for certain, though, just how things might play out. One team could suffer a handful of turnovers, and the game could turn into a blowout in either direction. Based on all the simulations they’ve run, the folks at BetMGM are banking it’s going to come down to a coin toss.

Speaking of which, can you guess which specific bets draw the most action beyond the top three of money-line, spread and total?

“Outside of that,” Cipolloni said, “what usually comes next is some cobble of MVP, first touchdown score, and then for the Super Bowl, funny enough, the next biggest one is the coin toss.”

That’s right, the game-opening coin toss. During last year’s Super Bowl in Las Vegas, the coin toss took in more money in the Vegas market than an NBA game and a pair of NHL games combined, according to Cipollini.

“The coin toss is very, very popular,” he said, adding, “It is silly. The amount of money we take is always like shocking to me because it does feel silly. If you’re throwing $5 or $10, I’m guessing maybe from the public’s perspective you at least know the book isn’t after you on this one. It’s a coin toss; there’s nothing we can do.”

Cipolloni said that setting more specific odds, such as the over/under rushing yards total for Eagles running back Saquon Barkley and the over/under receiving yards total for Chiefs tight end Travis Kelce, is where things get a bit tricky for a sportsbook like BetMGM. As of Wednesday, those totals were set at 114.5 for Barkley and 64.5 for Kelce.

Those numbers will be repeatedly adjusted and Cipolloni said most folks will continue to take the over.

Patrick Mahomes is the favorite to capture Super Bowl MVP honors, something he’s already managed to win three times in his first six full seasons as the Chiefs starting quarterback. Barkley, meanwhile, has been the most bet-on candidate to win MVP, and some big money has started to roll in on Kelce, according to Cipolloni.

One person, he said, has placed $25,000 on Kelce winning MVP, which would net a cool $400,000.

Believe it or not, he said the betting public is also throwing a lot of cash on the two backup quarterbacks – Carson Wentz of the Chiefs and Kenny Pickett of the Eagles – as 250-1 long-shot MVP candidates. Bets are also coming in regularly on the two kickers, the Chiefs’ Harrison Butker and the Eagles’ Jake Elliott, as 500-to-1 MVP dark horses.

“They’re going to have to kick at least five field goals to have a chance,” Cipolloni said.

The real big-money bets will start pouring in next week, Cipolloni said, with some folks risking $1 million or more on specific wagers. As for me, I’ll stick with the friendly beer bet with a buddy or two but will be curious to see how some of the silly Super Bowl prop bets play out.

You know, like what color liquid will it be during the celebratory Gatorade bath (I’m guessing purple) and how many times the FOX camera crews will cut to a shot of Taylor Swift during the game (it