The amount would be about an 8% increase from money placed on last year's Super Bowl between the New England Patriots and Seattle Seahawks.
The American Gaming Association estimates that $4.2 billion will be wagered by Americans on Super Bowl 50, according to Darren Heitner of Forbes.
The AGA said they believe that $149 billion was wagered on sports by Americans in 2015, a $5 billion increase from 2014.
“As Americans celebrate a milestone Super Bowl, they’ll also bet a record amount on the Big Game,” AGA president and CEO Geoff Freeman told Forbes. “Just like football, sports betting has never been more popular than it is today. The casino gaming industry is leading the conversation around a new approach to sports betting that enhances consumer protections, strengthens the integrity of games and recognizes fans’ desire for greater engagement with sports.”