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A look at the future of sports betting in the US - FAD Magazine

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A look at the future of sports betting in the US

Juergen Teller opens football exhibition in Moscow for FIFA World Cup.
Juergen Teller opens football exhibition in Moscow for FIFA World Cup.

With an ever-expansive list of sporting leagues and star athlete names, US sports fans are spoiled for choice when placing bets on their preferred interests as more betting sportsbooks have since been established and are now more operational for a wider number of available punters which could foresee further sports betting activity for years to come.

Sports betting in the US has seen a significant upsurge in activity and involvement in recent years due to most of the country’s states now allowing further legalization on various betting related activities.

For a long period of time, there was a considerable number of US states that set boundaries in place to illegalize any activity that revolved around betting which included digital sites and sportsbooks.

Nowadays, more states have since opened up to the prospect and the opportunities provided by gambling while some still remain reluctant to allow individuals to partake in such activities, with sports betting still being often prohibited in various states.

However, with the wider inclusion and interest that sports betting has garnered throughout the US in recent years, fans could expect to see a greater increase in the number of sportsbooks and online gambling sites featured for various sporting leagues and events as the number of betting punters continues to increase in a wider number of US states.

The impact that legalization of sports betting may have on the US market:

With multiple US states now looking to take a much more lenient approach towards the wider betting industry, this could mimic a similar impact that legalization of such laws has brought to countries such as the United Kingdom and Australia.

Both countries have long since allowed all future gambling activity to flourish in recent decades, especially in sports, as any person above the appropriate age groups will be allowed to partake in almost any topic related to gambling.

UK and Australian bookies have since provided both economies with a greater influx of revenue and a wide scale interest in further betting investments to help withstand any long-term longevity for a range of betting activities across different platforms.

In 2018, the US Supreme court has since ruled against the illegalization of US sports brought forward by federal law, which in turn has allowed the US sports gambling industry to prosper and develop and estimated growth upwards of $40 billion throughout the next decade.

With 22 states now legalizing various forms of sports betting, with another nine states predicted to follow, it has allowed the US betting market to experience a great resurgence within such a short space of time with more than $21 billion being wagered on a variety of sporting events, which is an all-time high, with a greater increase expected to be on the cards by the year 2033 of an upwards figure of $40 billion.

As more states have since begun permitting the use of varied sports betting activities, fans across the country can now place wagers in play for a variety of sporting events with NBA betting being a particular hot commodity when heading into the final stages of the regular season following on from the ecstatic NBA All-Star break.

What the future holds for US Sports betting?

US sports fans have always enjoyed the thrill and excitement surrounding the build-up to an upcoming game/event whether that be the Superbowl or March Madness showdown for the ages, but with the wider inclusion of sports betting across various social and digital platforms this could take the expectation and excitement surrounding such an event to another level entirely.

Fans are already becoming more accustomed to a wider array of sports betting commercials across varying mainstream broadcasts as well as the latest marketing strategies that could be included ahead of such a prestigious event, such as varying billboards or advertising during the event itself.

Following on from the 2018 ruling by the US Supreme Court, the overall figures have seen a significant upsurge since the offset of the COVID-19 pandemic as figures are currently as high as $7 billion wagered every month heading into 2022 from the initial $310 million that was calculated in June 2018, which is more than a 20-fold increase.

Sports betting has continued to transfer into varying degrees of US sporting culture with perhaps the most popular inclusion being fantasy league as players from across the country establish their own lineups and compete in a league format to win a major prize.

This will contribute majorly towards the development of the US gambling industry as fantasy league is expected reach figures that are upwards of $32 million in 2025 alone and an expected to grow an extra 12.67% from 2021-25.

The prior ruling by the Supreme Court has allowed the US gambling market to witness a resurgence in recent years which is expected to continue throughout the next decade given the multitude of opportunities and development that has arisen since the offset of the pandemic.

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