Legal sports gaming in America is quickly becoming a game changer; on several fronts. It’s changing how Americans think and feel about gambling overall, and it’s attracting new audiences to the activity, both online and at brick-and-mortar sites.
We’re seeing a demographic shift at many United States casinos as legal sports gaming attracts a more affluent, younger, diverse and better educated crowd. That’s according to a study commissioned by the American Gaming Association and conducted by leading research firm Nielsen Sports.
The data also shows that an overwhelming majority of those who bet on sports would gladly make the switch to much safer, legal markets if they were given the opportunity. Those opportunities should continue to rise given the great news coming out of New Jersey last week. Jersey was the third state in the union to legalize sports gaming, but they were at the forefront of the legal battles that opened the door.
Only six states currently have legalized sports gambling, so we can see right now in the final quarter of 2018 a massive growth industry for America in 2019 and beyond.
The Garden State saw the dollar figures wagered on sports within its borders grow 96% from August to September, and with an uptick like that, it won’t be long until more states have legal sports gaming.
Creating another revenue stream to boost tax income will certainly be a major motivation for many states; especially those facing budget crises. A major reason for the September surge was the start of college and professional football season, and October brings more opportunity in this vein.
It’s the month that NBA and NHL seasons begin, and thus more opportunities to take a given game and “make it interesting.”
It’s also the month of the Major League Baseball postseason, another sporting event that’s a favorite for bettors. The AGA maintains that both the NHL and the NFL stand to make huge revenue gains from regulated, widely available legal sports gaming as it should prelude increases in television audiences, advertising income, rights fees and media coverage.
The AGA/Nielsen findings claim that industry could help the NFL see $573 million increase in revenue due to increased spending from betting operators and data providers. In regards to the NHL, the study says revenue could increase by $216 million. With numbers like these, it’s easy to see why legal sports gaming will be as much of a win for U.S. sports leagues as it will be for American state governments.
Paul M. Banks runs The Sports Bank.net and TheBank.News, which is partnered with News Now. Banks, a former writer for NBC Chicago.com and Chicago Tribune.com, is currently a regular contributor to SB Nation, WGN CLTV and Chicago Now.
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