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Online to account for 86% of U.S. sports betting by 2025: Report

Posted: Sep 30, 2022 17:00 Category: Americas , Online , Sportsbetting , Posted by Sharon Singleton

Online gambling is expected to account for 86 percent of all sports betting by 2025 from 52.2 percent in 2019, BtoBet said in an industry report.

The 16-page report studies the state of the U.S. gambling market, looking at both the land-based and online segments, as well as attitudes towards betting and demographics.

It cites figures from Vixio GamblingCompliance as saying that the sports betting and online market will reach $24.3 billion by 2026 from just $7.7 billion in 2021. This would make it the largest global market at double the size of the U.K. 

The U.S. Supreme Court struck down a ban on sports betting in 2018 and since then two thirds of  all states have moved to introduce legislation. Notable exceptions include Texas and California, whilst in Florida the introduction of sports betting has stalled due to lawsuits.

Californians will vote in early November on two proposals that would open up what could be one of the most lucrative of markets in the U.S. 

Report sees high California demand

The BtoBet report says that California will make up 13.3 percent of the total regulated gross win by 2025. The report cites statistics published by the American Gaming Association that indicate that currently three out of four Sports Betting searches in California, Florida and Texas are for offshore sites.

The report notes that much of the growth has been fuelled by the fact that gamblers no longer have to travel to a casino to make a bet, but can wager with a click on a smartphone.

That trend accelerated during the pandemic when online accounted for 72.5 percent and 82.5 percent of gross revenue in 2020 and 2021 respectively. 

The report highlighted a high propensity to gamble amongst American adults, increasing to peak at the demographic between 45 and 54 before decreasing gradually. 

BtoBet highlights a survey from the National Council on Problem Gambling, which found that one in five respondents had placed a bet on sports even though it was only legal in two states at the time of the survey. 

It found that the majority of gamblers bet on more than one activity, with only 22 percent reporting that they only bet on one activity.

THE 300 SPARTANS:

After triumphing in key locations across Asia and Europe, AGS is flying 300 top affiliates to Malta, for an all inclusive deluxe trip. The event will happen alongside SiGMA, 14-18th November, during SiGMA Europe.

Read more about the 300 Spartans here.

 

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