U.S. and Canada were given permission to legalize gambling through websites and apps, giving rise to sports betting in places that didn’t have it before.
Sure, people have been wagering a bit of cash on big games, but app-based betting ups the stakes and connects communities together for bigger jackpots. The effect on states has been huge, with many making millions of dollars in revenue on a monthly basis from sports betting alone.
People have always been very enthusiastic about sports, and online sports betting provides another way to participate in a season’s excitement. Excitement that was once shared among office friends in a small March Madness pool can now be experienced on a bigger scale as apps connect huge fandoms together to bet on fantasy sports every week. Now that it’s accessible through apps, the number of participants and therefore the prizes get bigger. The bigger the prizes, the bigger the excitement. And as the betting platforms get a cut, companies begin to see the financial benefits of stoking the sports betting hype.
The states that legalize sports betting also get some of the revenue, and lawmakers are aware of how much money that will bring. Many eyes are on New York as it begins its sports betting journey. Experts expect big numbers thanks to all the residents of New York City, one of the most passionate groups out there when it comes to backing their local sports teams. The Empire State has chosen its starting lineup for NY betting apps for the launch: Caesars, DraftKings, FanDuel, BetRivers,BetMGM, WynnBet, Pointsbet, and Bally Bet.
Among all of this, sports media will have to change. Sports betting is set to be a huge and profitable trend in the industry, and the media will have to follow it if it wants to stay relevant.
Fans Drive The Focus
An effect of heightened sports betting participation is that sports as a whole sees more money. As fans invest money in their wagers, they get more invested in the games and their outcomes. They become more likely to follow the games regularly, giving attention to sports channels and maybe even attending more games in person. Or they might get more involved with their communities and show up to game nights at the local pub, spending more money on drinks and food on a regular basis. Overall, the more people get excited about sports, the more money they spend on them.
To that end, sports reporting will have to follow where the fans go in order to deliver relevant stories and engage viewers. It wouldn’t be too surprising to see sports outlets offer regular segments aimed towards sports betting, such as advice on where to place wagers or breakdowns of teams based on their betting odds.
NFL Is A Prime Example
2021’s NFL season was a great example of how betting informed the business with its 17 regular-season games. The extra game a week gave fans more chances to buy tickets, but more importantly more games to place bets on. While there’s no evidence to say that betting was an influence on the league, the decision to add more games had to account for the idea that fans would be interested in more games. Many states timed their legalization of online sports betting to coincide with the NFL season kickoff, and others have waited for Super Bowl 2022. Football and betting have a great relationship, and it will shape the future of the industry.
Other leagues would do well to see how the NFL is working with the fans’ desire to wager on sports, as would sports media outlets.
CEO Wanted
