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All bets (known as "legs") on a parlay must win for the ticket to pay off. Even one losing bet makes the parlay a loser. However, sportsbooks like FanDuel and BetMGM offered parlay insurance for Super Bowl LV, where you got your bet back if one of your legs lost (up to $25). You can expect similar offers for Super Bowl LVI. Last year,Nevada sportsbooks won $18.7 million off $154.6 million in bets on Super Bowl LIV. How much will be wagered this year? On May 14, 2018, the U.S. Supreme Court legalized sports betting for any state that wants it. Today, 13 states allow sports betting and it’s estimated that within three years that number could swell to as many as 30 states. New Jersey took its first legal sports bet on June 14, 2018, when two retail sports books opened in the state. The New Jersey Division of Gaming Enforcement reported a mammoth $5.21 billion had been legally wagered on sports in the state between June 2018 and November 2019, with $4 billion bet in the first 11 months of 2019 alone. In Nevada yesterday, a mystery bettor took a gander at the NFL Super Bowl odds and decided to place a BetMGM wager from their phone to the tune of $2.3 million. This individual decided to skip the prop bets, computer soccer tips for now, and go straight for the jugular by taking the Tampa Bay Buccaneers 3.5. Was Hogan's bet the cause of the downfall between the two teams vying for playoff spots? Obviously not, but one can only wonder what could have happened if the bet was never placed. BET $1, WIN $100 (in free bets) if the team you bet on in the Big Game wins. Offer available in CO, IA, IN, MI, NJ, PA, TN, VA and WV. Place all of your legal, online sports bets at BetMGM! Terms and conditions apply. Bet on the Big Game now!