US Sportsbook: Not Just For Operators
The US sportsbook sector will become a wide industry ecosystem with opportunities for those in media, tech, data and beyond. We explore the commercial opportunities ‘beyond betting’. If 32 States enacted legislation allowing sports betting, the market would be worth $6.03 billion annually within five years. If it were 50, the total could range from $7.1 to $15.8 billion. (All data: Eilers & Krejcik Gaming.)
And yet, opportunities to become operators are few and far between. Existing state legislation often severely limits available routes to market; specifically, partnerships with existing casinos and racetracks. It’s therefore only the biggest, most establish brands and experienced operators who stand to take the lion’s share as the market opens.
Thankfully for the rest, sports betting operators won’t be able to do it all themselves.
The Full Ecosystem: US Sports Betting’s Wide Array Of Opportunities
Entrepreneurs and specialists take note: sports betting is not an industry that can exist in isolation. As has been comprehensively proven in established markets around the world, online sports betting requires a full ecosystem of businesses and professionals to achieve its potential.
Others who stand to gain from the emerging US sports betting market include:
Sports coverage takes on a whole new dimension as fans become punters. Clear commentary and analysis will be in high demand as US consumers take on a more active role in the game.
Traffic-generating, customer-seeking affiliates are prized as some of sports betting operators’ most valuable partners. There’s already big money available for those who can occupy this space.
- Data Analysts
As noted by independent handicapping expert Tyler Watt, “companies that can track the movements of both betting lines and the amounts of money wagered will have a product they can offer at a premium.”
Advertising for gambling activity is often carefully regulated, but could still be a huge source of revenue for media and tech firms. “Sports betting could drive $7bn incremental US ad spend in 2019,” according to Evercore ISI analyst Anthony DiClemente.
- Technology Suppliers
There’s no shortage of suppliers offering tech infrastructure for online gambling operations, but US-specific sports betting technology is a younger market. Tech suppliers will have ample commercial opportunities as the market grows.
Understanding Is Key To Success
To take your place in the US sports betting industry’s growth – whatever that place may be – it’s critical to understand the fundamental characteristics of this unique industry.
Sports betting, online gambling and gaming are highly regulated industries with business structures and processes that can be surprisingly unfamiliar for those with limited experience. Those who can prove understanding and mastery will be best placed to achieve success.
Book one of our US Sportsbook eLearning courses today, or contact us to learn more about our US Sports Betting training services for businesses and learners.