Sports Betting: New Opportunities in 2021 and Beyond

Summer is over and the weather is cooling. This means that it’s time for fall sports.

In North America, it’s a new football season. Baseball is heading towards the World Series, and the basketball season is starting soon. In Europe, it's the start of the various soccer leagues.

This year, sports betting passed the tipping point, with 26 US states plus the District of Columbia expecting to legally allow sports betting, according to the American Gaming Association, with as many as five more states offering sports betting before the end of the US football season with the Super Bowl in February 2022.

That’s an increase from 18 states that allowed legal sports betting at the beginning of the 2021 US football season.

2018: Striking down the Professional and Amateur Sports Protection Act

In the US, the turning point for sports betting occurred in 2018, when the Supreme Court struck down the Professional and Amateur Sports Protection Act, a 1992 law that barred most state-authorized sports betting (except in the state of Nevada).

Today, sports betting is the fastest-growing segment of the global gaming market. Research from Technavio forecasts the sports betting market to break $100 billion by 2025, growing nearly 10% per year.

According to the American Gaming Association, 45 million Americans plan to bet on the National Football League (NFL) this season. That’s a 36% increase from last year.

While some invested their COVID-19 government stimulus checks in the stock market through apps like Robinhood, many used the payments to enter the sports betting market.

Sports Betting + Media = Bigger & more Entertaining Business

One trend in sports betting is the partnerships that have grown between media companies and gambling companies. These partnerships serve users who also want to watch/read relevant content about the sports, players, and opportunities. The Wall Street Journal recently reported that ESPN is considering a $3 billion deal to license its brand to one or more of the sports betting companies. Other deals have also been discussed, creating synergy between sports media and sports betting, which will undoubtedly increase the growth potential for this sector.

New Opportunities in Sports Betting

In addition to the new states which have legalized sports betting, new sports are being added including e-sports and fantasy sports, which will bring newer demographics into sports betting, and new types of bets, like live micro-betting on the outcome of the next ball possession in a football game, creating new opportunities for this market’s growth.

Other new sports betting opportunities include crypto sports betting which enables depositing and withdrawing in cryptocurrencies. Point spread betting is when bets are placed based on the margin of victory of the game instead of simply betting which team or player will win.

With the delta virus surging, many sports fans are staying away from sports stadiums. Instead, they are watching from the comfort of their couch and placing bets to increase the action and excitement.

According to data from the American Gaming Association, the most popular form of betting for Americans remains to casually bet with their friends. Nearly Twenty-eight million are expected to bet with friends this season, a 31% increase from last year.

Going Mobile

Mobile betting accounts for more than 80% of the revenue generated via sports betting. In New Jersey, the leading state for sports betting, mobile sports betting accounted for 89% of all sports bets placed. A lot of that revenue is being generated live in-game. These players are watching games from their couch instead of the stadium.

Google recently permitted real-money gambling and betting apps in its US Play Store. Apple already allows gambling in its App Store.

In a Fast-growing Market, You Need a Partner with Experience

The tremendous growth that sports betting is experiencing has brought a lot of companies into the industry. This competition is making it more difficult to gain a foothold into the market on the path towards profitability.

That’s why it’s necessary to work with a marketing partner that has proven sports betting experience.

Our team has extensive sports betting and gambling experience across a broad range of applications, games, and geographies. We will provide you with marketing guidance to navigate this growing and dynamic market, working with you to find the specific opportunities to establish and grow your business. Because of our track record and experience, we’re able to use exclusive sources of inventory as well as privacy-safe owned and operated email and push notification lists to optimize your campaign performance based on relevant category experience. And with new US states expected to legalize sports betting during the current football season, wouldn’t you want to work with a partner that can start targeting a new state instantly?

Whether you’re only considering the sports betting market OR if you’re looking for a new partner to grow your business, reach out today.