The sports betting industry gets bigger every year because more and more people are interested in it. Unsurprisingly, this trend affects most countries in the world, including the United States. Nowadays, there are more online bookmakers there than ever before.
According to Nostrabet.com, the revenue from sports betting in the United States will reach 10.1B in 2028. “The trends clearly show that the sports betting industry in the U.S. will keep growing every year. Following the legislative changes, some of the world’s top online bookmakers are eager to make a name for themselves, so they focus on providing quality options to U.S. bettors”, said Kristiyan, Nostrabet’s football expert.
The online sports betting business is flourishing in several other parts of the world, including Europe and Africa. However, it seems like the market in the U.S. will have the most impressive growth of all. There are many reasons why this is the case, so let’s go through some of them.
Sports betting is finally legal in the U.S.
Starting with the elephant in the room, the first big reason why experts predict that the sports betting revenue will reach 10.1B in 2028 is because of online betting operators. Having the option to punt on sports from the comfort of your home is very convenient. Hence, many people who weren’t into sports betting suddenly decided to give it a chance.
Although online sports betting has been legal in most European countries for some time, this was not the case in the United States. A law from 1992 prevented states from offering sports betting options, so people who wanted to gamble had to use other options. Fortunately, things changed following the Supreme Court’s ruling against the Professional and Amateur Sports Protection Act.
The ruling from 2018 changed everything because it paved the way for some of the world’s biggest sports betting websites to become available in the U.S. However, since each state has the freedom to allow online sports betting, not all of them have done it yet. In other words, we are yet to see what will happen once every state allows people to bet on sports from the palm of their hands.
Punters in the U.S. will most likely wager more than those in other countries
Aside from the things mentioned above, the revenue from sports betting is projected to reach 10.1B in 2028 because bettors wager more money than others. Of course, this depends on the player himself because not everyone is willing to stake a lot of money. However, punters in the U.S. are notorious for placing substantial bets, affecting sports betting revenue.
Besides the fact that most bettors want to wager substantial amounts, one of the reasons why U.S. punters bet more is because of the odds format their use. The so-called American odds that online and land-based bookies use will show the amount that people will win for every $100 they wager or how much they need to stake to win $100. In other words, U.S. punters are used to making more substantial bets because this is how the odds format works.
eSports is becoming a lot more popular all over the country
When talking about sports in the U.S., most people think of things like basketball, baseball, and American football. All of them are important and definitely have tons of fans that bet on them all the time. However, eSports are also growing in popularity, and they affect the revenue generated from sports betting.
The U.S. is not the most popular place for eSports athletes, but this doesn’t mean it does not have a lot of them. A quick look at some top-tier CSGO, Dota 2, and LoL players reveals that Americans are among the best eSports players. Of course, this also reflects on the betting industry because many bookies allow their clients to wager on these games.
Regarding bookies and eSports, not all operators offer the same betting opportunities. Online bookmakers in the United States of America provide substantially more eSports betting options than others. In addition to more computer and mobile games, bettors can also find extra markets and various features.
U.S. bookmakers may increase their advertisement budget even more
Punters who look at most European countries will see that some iGaming websites always promote their services. Some jurisdictions restrict these brands’ activity, but others allow them to run TV ads and do other things. Even though this is not the case in the U.S. yet, things could change in the near future.
If online betting operators find a way to advertise their services, their revenue will grow substantially. Despite the Supreme Court’s ruling in 2018, many sports fans in the States are not familiar with it yet. Consequently, they don’t know whether the state allows them to bet on sports.
In addition to the classic TV and online ads, some betting brands might be more innovative and develop new ideas. For example, it is possible to see betting websites that sponsor different sports teams, events, or even leagues. Even though this will probably cost them a fortune, the exposure will definitely attract a lot of new clients.
Most of the top-tier sports betting websites in the U.S. will offer additional options to their clients
Many sports fans in the U.S. will be more than happy that they can support their favourite sports club by wagering on it. However, some of the world’s leading betting operators know that this is not enough to grow in popularity. Consequently, many of them also give users access to many other betting options.
Nowadays, bettors in the United States who use an offshore iGaming operator will notice that it offers a lot of additional betting categories. Aside from the casino, which is usually home to thousands of titles, these sites have virtual sports, eSports, lotto, toto, scratch cards, and loads of other options. Hence, people who sign up and use these sites’ services can try out everything they offer.
The bad news is that it might take a while before the top-tier sports betting operators in the U.S. offer additional categories. Due to the strict gambling laws in each state, sites rarely have the option to provide more than one service. Consequently, some top-tier bookmakers only offer sports betting and have separate sites for casino games.
Sports betting operators will focus more on offering U.S. bettors special bonuses
One of the many reasons why the iGaming industry in Europe is growing so fast is the bonuses. Every operator offering sports betting and casino games usually has several propositions. Many of the offers are for new users, but there are promotions designed for existing clients.
Nowadays, sports betting sites in the U.S. also give their clients rewards. However, they are not as lucrative as those in other countries because the brands have to adhere to many rules. This may change in the future, which will allow the top-tier operators in the U.S. to offer way more perks. This will impact the growth of the sports betting industry because people will use these sites more often.
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