Casino Gambling

Estimate: $4.2 billion will be bet on Super Bowl, most of it illegally

The American Gaming Association estimates Americans will bet $4.2 billion on Super Bowl 50 between the Denver Broncos and Carolina Panthers, up 8 percent more than the $3.8 billion wagered in 2015.

Nearly 97 percent of those bets -- $4.1 billion worth -- will be wagered illegally.

Geoff Freeman, AGA's president and CEO, said the casino industry is leading the conversation around a new approach to sports betting that provides consumer protections, strengthens the integrity of games and recognizes fans' desire for greater engagement with sports.

AGA estimates Americans wagered $149 billion on sports in 2015, up from $145 billion in 2014.