Americans will bet $4.2 billion on Super Bowl 50, which pits the Denver Broncos against the Carolina Panthers, according to the American Gaming Association.

Nearly 97 percent of the bets will be wagered illegally, AGA said. The association forecasts that this year's betting total will be 8 percent higher than that of the last Super Bowl.

"As Americans celebrate a milestone Super Bowl, they'll also bet a record amount on the Big Game," AGA CEO Geoff Freeman said. "Just like football, sports betting has never been more popular than it is today."

AGA, which represents the casino industry, has been waging a public relations campaign against illegal gambling. The association recently announced it had entered into an agreement with the European Casino Association to tackle the problem.

The association said that Americans will wager an estimated $149 billion on sports in 2015. Sports betting is illegal in all but four states, and the group is pushing for changes that would allow for legalized betting in more places.

Super Bowl 50 is set for Sunday. http://bit.ly/1WYfxfO

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