Football watchers will tune in this Sunday to watch, celebrate, and ultimately, spend on Super Bowl 59.
A new poll from market research firm Savanta, a B2B and B2C market research firm, found that over half (55%) of respondents say they would rather spend $350 on hosting a Super Bowl party this Sunday rather than paying off any debt they have. Savanta’s survey consisted of 1,000 U.S. adults ages 18 and over.
The party expense is only the first out of many spending items, including sports betting. One in five viewers (19%) and 47% of sports betters admit adding more to sports betting rather than to their retirement savings in 2024, with 59% planning to wager $100 at this year’s Super Bowl and another 29% preparing to bet $200 or more.
“Whether it’s spending, betting, or debating the biggest headlines, one thing is clear—Super Bowl Sunday is about more than just football,” Savanta wrote in its findings. “It’s a moment that reflects changing consumer habits, evolving entertainment preferences, and the financial risks that fans are willing to take for the love of the game.”
The findings aren’t too surprising, given that sports fans have the tendency to splurge on their chosen college or professional teams. In 2023, a study by Empower found that 33% of Americans believe that spending on sports, including football, is money well-spent.
Empower’s study also found that sports fans were likelier to prefer drafting their fantasy football teams over choosing stocks, and only 37% were confident in managing their own financial portfolio.
Huddling up with an advisor can keep consumers from fumbling not just their budgets, but their near-term and retirement savings as well, said Keith Jones, a financial professional at Empower, to 401(k) Specialist at the time. “Working with a financial advisor can go a long way in helping [consumers] feel more confident in decisionmaking,” he added.
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