The American Gaming Association (AGA) have conducted research into the public opinion on the Supreme Court’s 2018 decision to end the federal prohibition on sports betting. The data has shown an overwhelmingly positive attitude with 85% of American adults agreeing that rescinding the longstanding Professional and Amateur Sports Protection Act (PASPA), was indeed a beneficial decision.
This level of consensus is on the rise from 2019 where results from that time yielded only a 63% agreement. Additionally to the 85% agreement rate extended to 77% supporting legalisation in their own state, which is an ever more likely occurrence with over 30 states since enacting regulatory bills that are currently operational.
According to the AGA’s research, a staggering 39.2 million American adults have placed a traditional sports wager in the last 12 months. Favourably 78% were placing a vast majority of their bets through regulated operators. An increase from 44% in 2019 to 77% of online sports bets are also placed through regulated operators.
Subsequent to the release of this research AGA’s President and CEO, Bill Miller, commented on the immense value American adults find in enjoying sports betting both legally and conveniently close to home. He also made observations about the massively beneficial spread of legal sports betting:
The rapid spread of legal sports betting – fuelled by regulated, responsible entities – has contributed to communities and established consumer protections by migrating betting away from the illegal market monopoly that PASPA perpetuated.
The release of some crucial pieces of data within this research has seen a plethora of the positive factors associated with sports betting legalisation that has been postulated, empirically proven and in quite a definitive style.
First of all the sheer value of the sports betting market is so large it may constitute an extremely important national economic factor, with $220 billion wagered legally since May, 2018. Translating to $3 billion in tax revenue that supports education, healthcare. Infrastructure, responsible gaming and problem gambling resources among many others.
The researchers highlighted how consumer awareness is the driving factor behind the highly successful adoption of sports betting. Sports bettors are eager to move their custom to legal frameworks shown in the high retention rate for legal operators away from illicit bookies and offshore activities.
The study found that 71% of bettors shifted or remained with legal activity due to confidence that their bets would be paid out, 68% chose legally as they were found to trust account security and preferred simpler payment methods. A further 58% were comforted by the availability of responsible gambling resources.
The issue of offshore online betting operators disguising their activities as being legal, many times being confused for local operations. The research found 29% of American adults are unsure of the legality of particular sportsbooks in their state, a sizable number to say the least but still veritable decrease from 45% in 2018. The issue is so pervasive, 70% of sports bettors making use of illicit services believed they were either betting exclusively with legal sources, or were certain that at least half of their bets were not illegal.
There were 3 key methods for these illicit offshore sites being capable of convincing consumers they are legal operations. 38% of bettors were convinced by a statement on their website, 36% attributed to being influenced by presence in the media, and 32% were persuaded due to the configuration of their online search results.
In lieu of this information, the AGA made a pledge to both support the expansion of legal sports betting and also protect consumers through education and dissemination of data similar to that in question here:
“The regulated industry and our partners across the entire ecosystem—policymakers, law enforcement, regulators, leagues, media, technology providers, and more— have made significant strides in our collaborative consumer education efforts since 2018, and we will continue to find new ways to enhance consumer protections as the market matures.”
Come and be a part of the SiGMA Americas Summit in São Paulo, Brazil
The SiGMA Americas Summit in São Paulo, Brazil is where we will explore the untapped potential of LatAm towards igaming and sports betting. This exceptional event, in collaboration with BiS Summit, promises to provide you with invaluable insights from influential speakers, a wealth of industry-leading knowledge, and perspectives from top innovators in the field. Additionally, you will have ample opportunities to network with industry professionals.
The event will take place from 14 to 18 June, 2023.