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Visualizing the Growth of U.S. Sports Betting https://ift.tt/8qZp352 See this visualization first on the Voronoi app. Visualizing the Growth of U.S. Sports Betting This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. The global sports betting industry has grown exponentially over the last few years, with a significant share of that growth coming from the United States. This graphic shows annual gross gaming revenue (GGR) from sports betting in the U.S., with data coming from the American Gaming Association. What is GGR? GGR is the total amount of money wagered minus winnings. For example, if a player wagers $1,000,000 at a casino and wins $900,000, GGR would be $100,000. Sports Betting Still a Young Industry Sports betting in the U.S. was first legalized in May 2018, after the Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) of 1992. PASPA had effectively outlawed sports betting nationwide. Since 2018, gross gaming revenue has jumped from $400 million to $11 billion in 2023. Year Gross Gaming Revenue (GGR) Label 2018 0.4 $0.4B 2019 0.9 $0.9B 2020 1.5 $1.5B 2021 4.3 $4.3B 2022 7.5 $7.5B 2023 11.0 $11.0B Betting is particularly big in Nevada, New Jersey, and Pennsylvania due to early legalization, robust regulatory frameworks, and strong sports cultures. Nevada, boosted by Las Vegas, generated over $5 billion in commercial gaming revenue (including other casino revenue streams) over the first four months of 2024, while New Jersey and Pennsylvania each generated over $2 billion. According to the American Gaming Association, 38 states (and DC) have legalized sports betting to date. If you enjoyed this post, be sure to check out this graphic, which shows the top NFL teams by revenue. The post Visualizing the Growth of U.S. Sports Betting appeared first on Visual Capitalist. INFO via Visual Capitalist https://ift.tt/CXnSlci July 5, 2024 at 07:03AM

🌟 What are some betting alternatives to big name sportsbooks like FanDuel & DraftKings 🌟 There are a lot of sports betting platform on the market today; each focusing on their own niche What’s the difference between them? Here’s a really cool sports betting startup on WagerPager, oh Jake Paul is its founder too! 👇 🏢 Betr is a unique sports betting company that introduces the world's first micro-betting app that aims to revolutionize the industry with its focus user experience. Its direct-to-consumer sports betting platform that allows users to bet on every moment of live sporting events, such as every pitch, at-bat, play, and drive. This concept of "micro-betting" provides an instant gratification experience unlike traditional sportsbooks. Betr has a few notable product offerings: 🎰 Micro-Betting App: Betr's flagship product is a mobile app that allows micro-betting on various sports, including baseball (MLB), basketball (NBA), and football (NFL, College). Users can place bets on specific outcomes like "First Possession," "First Field Goal," "Current Drive," "Upcoming/Next Play," and "Half-inning" bets. 📡 Betr Media: Betr has a dedicated media division that creates original and short-form content aiming to drive audience engagement and conversion to real-money gaming customers. ⛏ Betr Picks: Betr launched a new fantasy sports platform called Betr Picks, allowing users to create and enter fantasy contests. But What Are Other Things That Makes Betr Special? ✅ Simple User Interface: Betr has simplified the sports betting experience with an intuitive user interface that presents betting markets as multiple-choice questions and displays odds as easy-to-understand payout multiples. This allows users to navigate the app and place bets very easily. 🤑 Free-to-Play Experience: Betr launched as a free-to-play platform, allowing users to wager virtual coins that can be redeemed for real prizes. This serves as an onboarding platform and interactive tutorial for real-money betting. After getting a grasp of how to wager your bets, now users can play with actual money. Betr is known for its niche of micro-betting & easy-to-use interface. Here are some notable stats in 2024: 📍 Betr is live in states like PA, OH, VA, IN, CO, & KY 💰 In March 2024, Betr raised $15 million in strategic equity financing, bringing its total funding to $100 million at a valuation of $375 million. 📱 As of today, Betr has 956.8K TikTok followers, 264K Instagram followers, and 91.9K Twitter followers Moving forward, Betr is aiming to: - Launch its V1 Sportsbook product with full capabilities ahead of the 2024 NFL season - Start its iGaming vertical with Betr Casino by the end of 2024 Betr is one of the fastest growing sports betting startups. If you want to work here, Check out the link in the first comment! 👇

Action 24/7, a major Tennessee sportsbook, has announced a partnership with California-based sports betting technology and media provider WagerWire to launch ActionWire™, a groundbreaking marketplace for active sports bets. This first-of-its-kind collaboration will enable Tennessee sports bettors to buy and sell previously placed wagers on an open secondary market, offering unprecedented value and optionality. 'ActionWire is more than just a feature; it's a game-changer for how our players connect with and control their bets,' said Andrew Jacks, GM of Operations at Action 24/7. 'Offering such a differentiating feature will continue to make us an attractive option for bettors looking for a sportsbook that focuses on player empowerment.' The marketplace allows bettors to treat their wagers as liquid assets that can be bought and sold, in whole or in part, at any time until the buzzer, creating a new standard for innovation and player engagement in the online sports betting industry. Zach Doctor, WagerWire CEO, expressed excitement about the partnership, stating, 'Our mission is to empower bettors and unlock value for operators, so we are thrilled to be working with the team at Action 24/7 that also live by these principles and go above and beyond to cater to their passionate local fanbase in the Tennessee market.' As part of the collaboration, WagerWire will amplify high-stakes betting stories to generate brand awareness for Action 24/7 and secure potential buyers. The partnership will also involve social media engagement, contests, giveaways, and targeted campaigns for Tennessee bettors. #sportsbetting #tennessee #wagerwire #action247 #sportsbook #betting @wagerwire @action247

The sports betting market is booming. In 2023, sports betting and gambling companies raised over $150 million from VCs. Between new incumbents such as ESPNBet, and Fanatics Sportsbook, 38 states legalizing some aspect of sports betting, and more emerging startups in the space than ever before, it’s an amazing time for the industry. Surprisingly, it’s only been five years since the US Supreme Court cleared the way for all 50 states to offer sports betting, though feels as though it has been part of the culture for a much longer time. Here are some interesting facts to consider according to Statista: • Sport betting apps in the US brought in over $9B in revenue in 2023 • The worldwide gambling market is expected to reach $133.9B by 2028 • The NFL generated the most revenue for sports betting apps in the US • One in five US adults have bet money on sports in the last 12 months • Soccer is the most bet-on sport in the world Several major acquisitions took place during the year as well: • Dave Portnoy acquired Barstool Sports back from PENN Entertainment, Inc for $1 • Fanatics purchased PointsBet for $225 million • Flutter Entertainment Plc acquired MaxBet for €141 million • Entain acquired STS Holdings for £750 million • Yahoo purchased Wagr Giants such as FanDuel and DraftKings Inc. have led the way with over 70% market share in the online sports betting sector. But several other companies, many of which are early-stage, are also vying for a piece of this multi-billion industry. Let’s dive into some of the up-and-coming players in the space… https://lnkd.in/e-HJv2xF

[ Fan Experience ] ⚾ ⚾ ⚾ ⚾ ⚾ In-game betting should enhance, not detract from the overall fan experience; it should make the game more thrilling without overshadowing the game itself. Betting options should be thoughtfully integrated into the holistic fan experience, both digitally and in-stadium. As more teams and platforms embrace this trend, the potential for deeper fan engagement and new revenue opportunities will grow. By leveraging sponsorship deals, in-stadium facilities, app integrations, and revenue-sharing agreements, MLB teams can capitalize on the financial benefits. However, balancing this growth with a commitment to responsible gambling practices is key for ensuring a positive and sustainable impact on the sport and its fans. Organizations looking to navigate this evolving landscape should consider partnering with experts in fan engagement and responsible gambling to gain valuable insights and strategies. Read more https://lnkd.in/eKs2ZiZq Meg Tronquet | Concentrix

The Playground – Thursday, July 18 My picks for the best recent news content collected from Catena Media’s 20 “Play” regional sites in North America.   Pennsylvania PlayPennsylvania.com — Predicting How Bet365 Will Fare Entering As A Latecomer In PA — by Corey Sharp https://lnkd.in/gam_umDX A Pennsylvania launch for the powerful bet365 brand is imminent, but the operator has an uphill battle in a market over five years old. PlayPennsylvania gives its prediction for how bet365 will fare in the nation’s largest online casino market. PlayPennsylvania.com — Layoffs At PENN, ESPN BET Amidst Rumors Of Potential Sale— by Matthew Lomon https://lnkd.in/gG6sFDvQ PENN Entertainment underwent a round of layoffs this week that also impacted positions at ESPN BET. Reports of downsizing at the Wyomissing-based company surfaced right before the release of its Q2 earnings. PENN CEO Jay Snowden said there were a “limited number” of layoffs within the company’s online sports betting and casino sector. The news comes as rumors swell of a potential sale of PENN’s assets amidst poor results. New Jersey PlayNJ.com — Sportsbooks Report $60 Million In June Revenue – New Jersey’s Lowest Total Since Feb. 2023— by Grant D. Lucas https://lnkd.in/g5mkUFqr New Jersey sportsbooks accepted $748.4 million in bets in June, which ranks as the second-best June in the six-year history of legal sports betting in New Jersey. However, the other side of the coin showed sportsbooks pocketing just $60.1 million – the industry’s lowest monthly revenue total since February 2023. Indiana PlayIndiana.com — June Indiana Sports Betting Up Significantly Over 2023— by Adam Hensley https://lnkd.in/gv-xd_Jf Indiana sportsbooks handled just shy of $300 million in June. The handle was up 33% from June of 2023 and down 17.5% from May as the sports betting calendar predictably softened for the summer months. Recently, on The Playground… Wednesday, July 17, 2024 https://lnkd.in/gfHbTiVP Tuesday, July 16, 2024 https://lnkd.in/gnjCVAXz Monday, July 15, 2024 https://lnkd.in/gF7BxYwj Dave Briggs is the managing editor of PlayPennsylvania, PlayMichigan and PlayCanada, part of Catena Media’s “Play” network covering the online gambling industry from a regional perspective. #theplayground #gambling #gamblingindustry #regionalnews #regionalsites

🌟 New Trends in Sports Betting for 2025: What's Taking the Market by Storm? 🌟 As we head into 2025, the sports betting landscape is evolving at a rapid pace, with fresh trends emerging to meet the demands of an increasingly global and tech-savvy audience. Here’s a look at some of the key trends shaping the future of sports betting, driving growth, and offering punters exciting new ways to engage with the action. 🔥 1️⃣ Turbo Bets, Quick Bets, and Micro Bets 🎯 The modern bettor craves speed and instant gratification, and these new types of wagers are fulfilling that desire. Turbo bets, quick bets, and micro bets have skyrocketed in popularity, particularly among younger, mobile-first users who enjoy in-the-moment, bite-sized betting. Whether it's betting on the next point in tennis, the next free kick in soccer, or the next basket in basketball, these fast-paced options add a thrilling dimension to live events. Expect even more platforms to integrate these features as demand grows. Why It’s a Hit: These bets keep users engaged throughout a game, offering more frequent rewards and interaction, which translates to higher retention for operators. 🎉 2️⃣ Localized & Globalized Content 🌍 As sports betting becomes a global phenomenon, content is evolving to appeal to diverse audiences worldwide. International markets are looking for personalized experiences with content tailored to regional preferences—think cricket in India, table tennis in Eastern Europe, or NBA content across Asia. At the same time, major platforms are creating a "global feed" with widely accessible betting markets, allowing fans from all over the world to unite under the same odds and events. Why It’s a Hit: Localized content increases relevance, while global offerings foster a community-driven betting experience, appealing to a broad range of cultural backgrounds. 📈

Here’s Your Winning Guide to Crush Sports Betting in 2024! ⬇️ So, you want to turn sports betting into a profit machine this year? Let’s break down the bets, strategies, and insider tips to help you outsmart the competition. Types of Bets: 1. Totals Bets (Over/Under): Bet on whether the total score will be over or under a set number. Easy for beginners and pros alike. 2. Parlay Bets: Combine multiple bets into one. Win them all to cash in big, but lose one and it’s game over. 3. Futures: Long-term bets on future events like MVP winners or Super Bowl champs. Tie up your cash for a big payout later. 4. Prop Bets: Bet on specific game events that don’t affect the final result, like who scores first. Advanced Strategies: 1. Line Movement: Track line changes to spot where the big money is going. 2. Fading the Public: Bet against the majority when the public sways the odds. 3. Advanced Stats: Use deep stats to make smarter bets. Common Mistakes to Avoid: 1. Chasing Losses: Don’t try to win back losses with reckless bets. Stick to your plan. 2. Betting Without Research: Always research teams, players, and conditions before placing a bet. 3. Overlooking Value Bets: Look for underdogs with value rather than betting on favorites every time. Conclusion: Winning isn’t just luck—it’s about strategy and knowledge. Master these tips and get ready for a profitable 2024! 🔥 Like this guide? Hit follow for more insider sports betting tips and tricks! 🔥

📈 North Carolina Sports Betting Hits $200 Million Mark in First Week 💸 According to recent sports betting figures released by the North Carolina State Lottery Commission, the Tar Heel State shows a total handle approaching almost a quarter of a billion dollars! 💰 The Lottery Commission revealed that the state’s first week of legal sports betting, starting Monday, March 11, saw $198.1 million in total wagers. The organization’s inaugural sports betting report provides a more detailed breakdown, pointing to payouts totaling $141.6 million from the $198.1 million wagered, yielding $42.7 million in gross gaming revenue. 💵 A closer examination reveals that bets amounted to $23.9 million on the NC sports betting market’s first day, with nearly $12.4 million attributed to promotional bets. Players received $12.2 million in winnings within the first 12 hours. Furthermore, GeoComply, the prominent geolocation solution provider, revealed a 46% surge in online sports wagering activity on March 19, the first day of March Madness, accompanied by a 46% increase in active accounts. 🏈 In a recent press release, GeoComply’s SVP of compliance, Lindsay Slader, said, “It’s early, but North Carolina is already delivering on lawmaker expectations when they legalized online sports betting last year. The state’s well-structured approach to mobile sports betting safeguards consumers and opens up significant revenue streams.” To date, the North Carolina State Lottery Commission has granted eight interactive sports betting licenses to operators, including Bet365, BetMGM, Caesars Entertainment, DraftKings, ESPN Bet, Fanatics, FanDuel, and Underdog. 🏅 To offer legal sports betting in the Tar Heel State, operators must partner with NC sprots teams, leagues, or venues across the state. All license recipients have successfully secured such deals, including: ·      🏀 Back in November 2023, Bet365 signed a partnership with the NBA’s Charlotte Hornets. ·      🏁 BetMGM teamed up with the Charlotte Motor Speedway. ·      🏎 DraftKings partnered with NASCAR. ·      🏒 Fanatics Betting and Gaming has become the NHL’s Carolina Hurricanes official sports betting partner. ·      ⛳ ESPN Bet revealed golf’s PGA Tour and its Wells Fargo Championship as partners. ·      🏌️♂️ Partnering with McConnell Golf, Underdog has extended its standing as a paid fantasy sports operator. As we head into the second month of legal sports betting in North Carolina, only time will tell how the Tar Heel State compares to other leading US sports wagering markets. But if its first month of legal sports wagering is anything to go by, we can expect great things from NC’s legal sports betting market. 🌟 #NorthCarolinaGambling #NorthCarolinaSportsBetting #NCGambling #NCSportsBetting

Sports Betting News & Updates! 🤝 North Carolina Seeks Public Input on Sports Betting Rules The Sports Betting Committee of the North Carolina State Lottery Commission has approved the start of a rule making process for the fourth set of sports wagering regulations. The public comment period for these proposed rules is open until October 18, 2024. This development comes after North Carolina officially launched online sports betting on March 11, 2024, with eight operators receiving licenses to begin accepting bets: - bet365 partnered with the Charlotte Hornets - BetMGM with Charlotte Motor Speedway - DraftKings Inc. with NASCAR - Fanatics with the Carolina Hurricanes 🎸 Hard Rock Bet Partners with Jacksonville Jaguars Hard Rock Bet has become the official sportsbook of the NFL's Jacksonville Jaguars. This partnership includes: Special rewards for fans, in-stadium advertising, integrated marketing campaigns. Such partnerships between sportsbooks and professional sports teams have become increasingly common as the sports betting industry expands, providing mutual benefits in terms of brand exposure and fan engagement. 🕹️ American Gaming Association Projects Record NFL Betting The American Gaming Association has released projections expecting record amounts to be wagered during the 2024 NFL season. This forecast underscores the continued growth of sports betting in the United States, particularly around popular leagues like the NFL. 💰 September Revenue Reports Show Mixed Results - Iowa: Iowa's casino revenue experienced a year-over-year decline in September. However, the state's sports betting handle saw an increase during the same period. This contrasting performance highlights the growing popularity of sports betting even as traditional casino gaming faces challenges. - Indiana: Indiana reported a substantial 57% increase in its sports betting handle for September compared to August. This surge likely coincides with the start of the NFL season, which typically drives increased betting activity across many states. - Vermont: Vermont, a relatively new entrant to the legal sports betting market, recorded over $11 million in sports betting handle. This figure indicates a strong start for the state's nascent industry and suggests potential for growth as the market matures. If you want to join the world of sports betting, check out the link for open roles below!👇