Sports that lead the way in terms of overall betting revenue in America and potential growth in others
Sport in America has always been hugely popular, with the likes of native baseball, basketball, American football and ice hockey leading the way, however over the last couple of decades, other sports such as golf, tennis and even soccer have increased in popularity.
Betting revenue over the last couple of years in America has soared to a point where it is quickly starting to catch up and bypass those of traditional gambling in some states. In September 2018, the state of Nevada had its best ever month since sports betting became legalised in 2010, with revenues totalling in excess of $56.3 million.
During this month, according to Legal Sports Report it was actually the NFL (American Football) and college football which reigned supreme for the sport and generated the most revenue in Nevada, with total state wagering figures at almost $389 million. Baseball meanwhile, generated over $131 million in total bets.
It was a similar situation in the state of Delaware, which for the same month had figures of just under $17 million in betting revenues for sportsbook wagers for both the NFL and college football season with the average daily handle standing at $481,000.
Fast forward just over a year though, and it is the state of New Jersey which has overtaken Nevada in sportsbook revenue. In October 2019, the state set a new record for monthly sports wagering with a total of $46.4 million layed. This figure was 9.5 percent higher than the total for the previous month, though with two NFL teams in the state, plus another over the border in Pennsylvania, it is understandable.
A lot of the reason for these figures however, might be due to the legalisation of online gambling. It is estimated that 83 percent of bets in the year of 2019 were through betting apps, with a number of online sportsbooks available in the state.
What is perhaps most interesting though, is that for 2019, basketball figures eclipse those of baseball; some feat to say that this is a region where baseball attracts a considerable amount of attention, with both the Boston Red Sox and New York Yankees in neighbouring states. Basketball wagering stood at $698.2 million during 2019, while basketball fell agonisingly short at $698 million.
What might we see in the future for American sports betting?
These statistics all point to sports betting figures increasing even more over the coming years, especially if more states legalise online gambling activity. What will also be interesting is if we see a breakthrough in other sports and markets, such as the English Premier League, which gets a considerable amount of coverage in America. Where there has been a substantial amount of traction is in daily fantasy sports betting, with the likes of the New Jersey based FanDuel racking up big numbers. The company actually accounted for a big chunk of the total betting revenue for the state during 2019 and signs so far point to a record year in 2020.