[eMarketer] Sports betting presents opportunities for marketers

With the legalization of sports gambling in over 20 US states, there has been new business opportunities, and potential pitfalls, for broadcasters and streaming services that seek to tie in betting content, such as fantasy leagues, with live broadcasts—or at least market separately to the sports viewing and gambling audiences according to eMarketer.

The American Gaming Association (AGA) keeps a running tab of US states where sports gambling is legal, along with ones where betting has been legalized but is not yet live. It also tallies states with active sports gambling legislation as well as those with no legislation or dead legislation. As of May 2021, sports gambling was legal and active in 21 states plus the District of Columbia. An additional six states had legalized betting but did not yet have live services, and 14 other states had active pre-filed legislation aimed at legalization. Only 9 US states had either no legislation or dead legislation at that time.

A study by research and brokerage firm Gabelli Securities and the US Census Bureau estimates that legalized sports gambling in the US will generate $2.1 billion in revenues this year and projects growth to $10.1 billion by 2028.

Other companies predict even higher revenues from legalized sports betting in the US, with Morgan Stanley estimating a market size of $15 billion by 2025 and Macquarie Research forecasting $30 billion by 2030. In addition, MGM Resorts International projects that sports gambling will generate $13.5 billion by 2025, with 38 US states participating by that time.

Read the full eMarketer article here

 

www.emarketer.com

 

 

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