U.S. sports betting market laid bare in comprehensive white paper

LAS VEGAS, May 11, 2021 /PRNewswire/ — Leading U.S. sports betting comparison site Bonus Seeker, a Catena Media brand, has published…

LAS VEGAS, May 11, 2021 /PRNewswire/ — Leading U.S. sports betting comparison site Bonus Seeker, a Catena Media brand, has published an exhaustive white paper on the fledgling yet burgeoning U.S. industry, projecting a significant surge in revenue in the coming years for states that implement sports betting wisely.

Providing deep insight on one of the world’s largest and most potential-rich sports betting markets, BonusSeeker’s in-depth analysis has laid bare the current situation on a state-by-state basis, and also examines which states are leading the way through an open approach to competition and utilization of mobile technology.

The paper’s statistics show that an increasing number of states have realized that mobile betting is the route to revenue maximization. More specifically, mobile betting with multiple operators.

Its numbers show that states with online wagering take in more bets than states that don’t. New Jersey, Nevada, Pennsylvania, Illinois, Indiana, Colorado, Iowa, and West Virginia recorded the highest sports betting handles in 2020 – with all of them adopting mobile betting and a wide range of different sportsbooks for U.S. bettors.

In each of these states, with the exception of Nevada, the report shows that mobile betting accounts for at least 80 percent of all wagers taken. And in Nevada, more than half of all wagers are placed via online sportsbooks rather than at land-based betting windows.

With a population of more than 19 million, eyes are now on New York and with it, the potential to become the largest market in the country. The paper focuses on the anticipation there and an exclusive interview with New York Senator Joseph Addabbo reveals his support for sports betting’s top model.

«It’s a win-win. That is why [New] Jersey prefers that model and Pennsylvania prefers that model and the vast majority of other states that do mobile sports betting prefer that model,» Addabbo explained. «Because it’s a proven product. It’s a proven winner for the state and for its people.»

Brian Sausa, Lead Sports Writer at Catena Media US, said: «Legal sports betting is clearly becoming big business in the U.S., but every state does it differently. This examination of the betting picture is extremely insightful.

«Revealing that mobile betting is set to outstrip land-based by roughly three times is a real eye-opener and the detailed look at each state’s intentions makes the report a must-read for anyone involved in the industry.»

Click here to view the full analysis.

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SOURCE BonusSeeker