Americans aren't afraid to place a little wager here or there on a sporting event, even though the practice is illegal throughout most of the country. All bets are off when the Super Bowl rolls into town, though. The American Gaming Association delved into the numbers behind the bets being made across the country ahead of Sunday's big game. Turns out, people of the United States are not afraid to risk some paychecks for even bigger winnings at this time of year.

In total, it adds up to an absurd amount of money spent on a single day of football.

Americans lay it on the line

The betting estimates were made by the American Gaming Association this week. They predict the nation will bet $4.76 billion dollars on this Sunday's Super Bowl. Only about three percent of that will be spent in Las Vegas, however, which means the rest will be bet between friends or bet illegally over the Internet.

Last year, the Vegas sportsbooks saw a record amount wagered on the Super Bowl. The $138.4 million bet in the casinos last season is going to be drastically surpassed this year, though. It's unclear if that's because there is more interest in this year's game or not. One of the teams is the same (New England), which could actually drive interest down due to boredom with their dominance.

At the moment, the Patriots are a 4.5 point favorite over the Philadelphia Eagles in the Super Bowl, leading to a lot of the betting action leaning in favor of Philadelphia, the promise of a bigger payday awaiting those who bet on them if they win.

Super Bowl's most infamous bettor

While Americans are spending massive cash betting on the Super Bowl, one is betting more than anyone else around.

They have come to be known as "Bettor X" in the gambling community. The person is not new to the scene - they took Vegas for as much as they could during the World Series, leading to record losses from the sportsbooks.

According to Covers, William Hill received a $1 million bet on the Eagles from the mysterious gambler, which would result in $1.65 million in winnings.

Another large bet was reportedly made at the MGM, which could've been from the same bettor. His betting habits are very reminiscent of Floyd Mayweather Jr., although it isn't the boxer - he never hides his betting activity.

Regardless, Americans are betting big on the Super Bowl this year. Just don't bet your life savings - it's too risky when it comes to the outcome of the big game.