Following the Supreme Court ruling in 2018 granting states the power to legalise gambling, the industry’s growth has shown little signs of slowing down and US sports betting advertisement has risen exponentially as operators try and tempt new users.
Customer experience platform Disqo have published new findings which predicts advertising spend for sports betting to projected to reach $2bn this year.
This would represent an 8% increase on 2022, and a staggering 400% increase on pre-federal ruling levels before 2018, which is reflective of the gambling fever sweeping across the nation as more and more states pass it into law.
With 37 of the US’s 50 states now allowing bettors to stake money on sports, the nation’s relaxation of laws is in direct contrast to some of world’s other popular betting destinations.
For example, the UK government published their ‘Gambling White Paper’ outlining stringent measures to combat growing addiction, while counties such as Australia have discussed bans on credit cards for users as lawmakers attempt to push through further changes.
Within their projections, Disqo also sought to establish the feeling amongst their US users in relation to the growing sports betting trend.
Around 40% of respondents think professional leagues could damage their reputations by partnering with gambling brands, while 30% believe high-profile names and TV networks could also be negatively affected.
Around one in three of those polled believed the rapid ascension of gambling and sports betting is a positive thing.
Patrick Egan, Disqo’s director of research and insights, said: “While no one really knows how regulatory and competitive pressures will impact the industry in three to five years, it’s clear that sports betting is here to stay and will continue to grow aggressively.”