- Joined
- Jan 14, 2008
- Messages
- 61,386
SOURCE
Now that states are free to craft laws legalizing sports gambling, the latest question is whether to enter the potential $9 billion mobile-betting market.
Americans legally gambling on this weekend’s World Cup final and other athletic competitions primarily are doing so in person at a limited number of casinos. Increasingly, though, gamblers in other countries are placing wagers from their smartphones.
In the U.K., the world’s largest legal sports-betting market, revenue from online wagers has more than doubled over the past five years and now represents 60% of the market, whereas revenue from in-person betting has fallen by about 12% over the same period, according to data from Gambling Compliance, an industry research firm.
Place Your Bets
With sports wagering expected to jump in the U.S., online betting may be a key growth area, as suggested by trends in the U.K.
Sources: Gambling Compliance (U.K.); H2 Gambling Capital (U.S.)
“Where consumers are pulling this is in the direction of mobile,” said Chris Grove, managing director at research firm Eilers & Krejcik Gaming LLC.
“It helps regulated Sports Betting appeal to the broadest possible audience.”
Mobile betting could increase total U.S. sports gambling revenue by $9 billion, to $16 billion total, if all 50 states adopted it,
according to estimates from Eilers & Krejcik. For casino operators and book makers, mobile gambling is attractive because it makes placing bets easier and allows for in-game wagering, seen as a strong growth area.
The stakes extend beyond the gambling industry. Professional sports leagues and television networks stand to gain from increased viewership of sporting events,
with research showing bettors consume more games and more minutes of sporting events than those who don’t.
Online sports gambling has been legal in Nevada since 2011 and has grown to represent nearly a third of all wagers in the state, according to analysts’ estimates.
But as Sports Betting legalization moves forward in other states following a May U.S. Supreme Court ruling, there has so far been wide variation in the adoption of mobile.
Some states are concerned about how online sports wagering could affect the business of existing casino operators or worsen gambling addictions.
Now that states are free to craft laws legalizing sports gambling, the latest question is whether to enter the potential $9 billion mobile-betting market.
Americans legally gambling on this weekend’s World Cup final and other athletic competitions primarily are doing so in person at a limited number of casinos. Increasingly, though, gamblers in other countries are placing wagers from their smartphones.
In the U.K., the world’s largest legal sports-betting market, revenue from online wagers has more than doubled over the past five years and now represents 60% of the market, whereas revenue from in-person betting has fallen by about 12% over the same period, according to data from Gambling Compliance, an industry research firm.
Place Your Bets
With sports wagering expected to jump in the U.S., online betting may be a key growth area, as suggested by trends in the U.K.
Sources: Gambling Compliance (U.K.); H2 Gambling Capital (U.S.)
“Where consumers are pulling this is in the direction of mobile,” said Chris Grove, managing director at research firm Eilers & Krejcik Gaming LLC.
“It helps regulated Sports Betting appeal to the broadest possible audience.”
Mobile betting could increase total U.S. sports gambling revenue by $9 billion, to $16 billion total, if all 50 states adopted it,
according to estimates from Eilers & Krejcik. For casino operators and book makers, mobile gambling is attractive because it makes placing bets easier and allows for in-game wagering, seen as a strong growth area.
The stakes extend beyond the gambling industry. Professional sports leagues and television networks stand to gain from increased viewership of sporting events,
with research showing bettors consume more games and more minutes of sporting events than those who don’t.
Online sports gambling has been legal in Nevada since 2011 and has grown to represent nearly a third of all wagers in the state, according to analysts’ estimates.
But as Sports Betting legalization moves forward in other states following a May U.S. Supreme Court ruling, there has so far been wide variation in the adoption of mobile.
Some states are concerned about how online sports wagering could affect the business of existing casino operators or worsen gambling addictions.
