FanDuel and BetMGM will be the only two sports betting companies advertising during the upcoming Super Bowl LVIII on February 11, 2024. The event is set to be televised by CBS from Allegiant Stadium in Las Vegas.
According to Adweek, CBS has not yet disclosed the cost of a 30-second ad spot during the broadcast. Last year, Fox charged about $7 million per commercial during the big game. However, FanDuel is back for another year, and BetMGM is hoping to capture market share from competitors FanDuel and DraftKings by investing heavily in a Super Bowl ad.
While Super Bowl commercials are known for being the most expensive television ads of the year, research shows that they typically provide a good return on investment. In fact, Kantar reported that Super Bowl advertisers in 2021 saw an average ROI of $4.60 per dollar spent.
BetMGM, which is partially owned by MGM Resorts International in partnership with Entain, is set to debut its Super Bowl commercial with A-list comedic actor Vince Vaughn and NFL legend Tom Brady. The advertisement also features NHL legend Wayne Gretzky.
On the other hand, FanDuel aims to create buzz with a follow-up to last year’s highly promoted “Kick of Destiny” featuring former NFL superstar Rob Gronkowski. In the new spot, FanDuel will allow bettors to make a free pick on whether Gronkowski’s kick will be successful, with those who pick correctly splitting a $10 million pool.
The commercials, especially from FanDuel and BetMGM, are highly anticipated and could have an impact on their market standing within the sports betting industry.