Unprecedented Surge in Sports Gambling Involvement
Sports Wagering and Fantasy Sports Soaring in the US
According to a recent survey, the number of individuals participating in sports wagering and fantasy sports has skyrocketed compared to last year. Here's a breakdown of the key findings:
- Astonishing Participation: Nearly 60.2 million Americans – roughly 25% of the adult population – are now betting on sports. This is an increase of 9.4 million from 2021, marking a 20% rise in participation. Fantasy sports saw a smaller yet notable rise, with an additional 6 million players, resulting in a 13.5% increase.
- State of Play: The growth can be attributed to the addition of more legal sports wagering markets, such as Arizona, Louisiana, and Connecticut. These states are generating impressive sports wagering handles of around nine figures. For instance, Arizona recorded a record $691 million handle in March alone.
- Crossing the Line: Approximately 59.5% of those participating in sports wagering or fantasy sports engage in both, with the number increasing by 9%.
- Women Speak Up: Women's involvement in sports wagering has more than doubled over the past three years. In 2019, 9.4 million women made bets, accounting for 20% of the overall sports betting populace. Today, that number has surged to 20.6 million, representing 34% of all sports bettors.
- DFS Upward Swing: More than 30 million people nationwide participate in Daily Fantasy Sports (DFS), representing a 12% improvement since the last study in 2019. Crossover among people who play both DFS and season-long fantasy contests has seen a significant rise.
- Live and Mobile Wagering: Nearly two-thirds of handle originates through online or mobile wagering, with close to one-third of handle generated through live-game wagering.
- Regulated Market Expansion: There's been a marked decrease in betting exclusively on unregulated sites, which has plummeted from 59% to 24%. However, one concern remains: nearly one in five people betting on these unregulated sites aren't even aware they're doing so.
In conclusion, the U.S. sports wagering and fantasy sports industries are thriving, thanks to technological advancements, increased accessibility, and a more welcoming regulatory environment. Women's involvement in sports wagering is on the rise, while DFS participation continues to grow. As these industries become more mainstream, it's crucial to educate consumers about the benefits of regulated markets and ensure equitable state licensing for a fair and competitive market.
Participants in sports-betting have increased significantly, with nearly 60.2 million Americans now betting on sports, marking a 20% rise since 2021. Additionally, the growth in sports wagering can be attributed to the addition of more legal markets, such as Arizona, Louisiana, and Connecticut, where impressive nine-figure sports-betting handles are being generated.
