Online Sports Betting Is Changing Sports and the Gambling Business: Graphic – Bloomberg

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Legal sports betting in the U.S. — once confined to Nevada — has gone mainstream. Since the Supreme Court in 2018 ended federal bans on the industry’s expansion, dozens of states have legalized it, and a multibillion-dollar betting boom is afoot. More money is now wagered on sports in New Jersey than in Nevada. California, which may become the biggest market of all, will vote on legalization next year.
As betting expands, the boundaries that once separated gambling from sports media and professional sports leagues are disappearing. Digital apps make sports betting possible on mobile devices, which gives it a foothold across America and threatens the business of brick-and-mortar casinos. And this is only the beginning; the industry is poised for explosive growth.
The graphics below provide a snapshot of today’s sports betting landscape — the money and locations involved and some of the partnerships recently forged among gambling companies, sports leagues and media outlets.
October
$7.1B
$6B
June 2018
Sports gambling
legalized in May
March
Pandemic
start
4
2
0
2019
2020
2021
October
$7.1B
$6B
June 2018
Sports gambling
legalized in May
March
Pandemic
start
4
2
0
2019
2020
2021
October
$7.1B
$6B
June 2018
Sports gambling
legalized in May
March
Pandemic
start
4
2
0
2019
2020
2021
0
$1B
June 2018
Sports gambling
legalized in May
2019
2020
March
Pandemic start
2021
October
$7.1B
$6B
0
4
2
For decades, sports betting was an add-on at most casinos. It added to the flavor of the place, but the real action (and revenue) was at slot machines, keno, roulette and other table games. Now, sports betting is surging. Goldman Sachs Group Inc. predicts the online market could reach $39 billion in annual revenue by 2033 — up from less than $1 billion today. Digital betting has been behind this surge. Like many online activities, it got a huge boost from the Covid-19 lockdowns.
October
Retail: 16%
Mobile: 84%
$6B
June 2018
Retail: 100%
Mobile: 0%
4
2
0
2019
2020
2021
October
Retail: 16%
Mobile: 84%
$6B
June 2018
Retail: 100%
Mobile: 0%
4
2
0
2019
2020
2021
October
Retail: 16%
Mobile: 84%
$6B
June 2018
Retail: 100%
Mobile: 0%
4
2
0
2019
2020
2021
0
$1B
June 2018
Retail: 100%
Mobile: 0%
2019
2020
2021
October
Retail: 16%
Mobile: 84%
4
0
2
$6B
Mobile bets
Retail bets
Illinois
Indiana
Michigan
$1.2M
0
’19
’20
’21
’19
’20
’21
’19
’20
’21
Nevada
New Jersey
Pennsylvania
$1.2M
0
’19
’20
’21
’19
’20
’21
’19
’20
’21
Mobile bets
Retail bets
Illinois
Indiana
Michigan
$1.2M
0
’19
’20
’21
’19
’20
’21
’19
’20
’21
Nevada
New Jersey
Pennsylvania
$1.2M
0
’19
’20
’21
’19
’20
’21
’19
’20
’21
Mobile bets
Retail bets
Illinois
Indiana
Michigan
$1.2M
0
’19
’20
’21
’19
’20
’21
’19
’20
’21
Nevada
New Jersey
Pennsylvania
$1.2M
0
’19
’20
’21
’19
’20
’21
’19
’20
’21
The Puritans believed gambling was sinful. And for much of U.S. history, that cultural disdain prevailed — however hypocritical or puritanical it might seem. But the expansion of state lotteries and legalized casino gambling over the past several decades, along with greater cultural permissiveness toward many activities once seen as vices, has made gambling ubiquitous today. As the graphic below illustrates, sports betting is taking root everywhere and showing no signs of abating.
Annual estimate
2021 annualized revenue
Legal; figures not available
Pending or likely
Not legal
AK
ME
VT
NH
MA
ID
MT
ND
MN
WI
MI
NY
CT
RI
WA
$978M
OR
NV
WY
SD
IA
IL
IN
OH
PA
NJ
$429M
$494M
$771M
CA
UT
CO
NE
MO
KY
WV
MD
DC
DE
$3B
AZ
NM
KS
AR
MS
TN
VA
NC
$8M
OK
LA
AL
GA
SC
HI
TX
FL
Annual estimate
2021 annualized revenue
Legal; figures not available
Pending or likely
Not legal
AK
ME
VT
NH
MA
ID
MT
ND
MN
WI
MI
NY
CT
RI
WA
$978M
OR
NV
WY
SD
IA
IL
IN
OH
PA
NJ
$429M
$494M
$771M
CA
UT
CO
NE
MO
KY
WV
MD
DC
DE
$3B
AZ
NM
KS
AR
MS
TN
VA
NC
$8M
OK
LA
AL
GA
SC
HI
TX
FL
Annual estimate
2021 annualized revenue
Legal; figures not available
Pending or likely
Not legal
AK
ME
VT
NH
MA
ID
MT
ND
MN
WI
MI
NY
CT
RI
WA
$978M
OR
NV
WY
SD
IA
IL
IN
OH
PA
NJ
$429M
$494M
$771M
CA
UT
CO
NE
MO
KY
WV
MD
DC
DE
$3B
AZ
NM
KS
AR
MS
TN
VA
NC
$8M
OK
LA
AL
GA
SC
HI
TX
FL
2021 annualized revenue
Annual estimate
Legal; figures not available
Pending or likely
Not legal
AK
ME
VT
NH
MA
ID
MT
ND
MN
WI
MI
NY
CT
RI
WA
OR
NV
WY
SD
IA
IL
IN
OH
PA
NJ
$429M
$771M
CA
UT
CO
NE
MO
KY
WV
MD
DC
DE
$3B
AZ
NM
KS
AR
MS
TN
VA
NC
$8M
OK
LA
AL
GA
SC
HI
TX
FL
Betting lines now roll across TV screens during sports broadcasts. Professional teams and leagues have established direct partnerships with gambling companies. Media and entertainment companies — including such family-friendly giants as the Walt Disney Co. — have pursued similar partnerships or opened the door to them. The visualization below shows many of the recent joint ventures that four leading sports betting companies have secured.
SPORTS
BetMGM
Entertainment,
hospitality
Media
companies
Celebrities
Gambling
SPORTs
Caesars
Entertainment
Media
companies
Celebrities
Entertainment,
hospitality
Gambling
Harrah’s
Eldorado
Resorts
SPORTS
Jordan is special adviser to DraftKings’s board as well as a co-owner of NASCAR team 23XI
DraftKings
Entertainment,
hospitality
Tech
companies
Celebrities
Media
Gambling
Hollywood
Casino
SPORTS
Tech
FanDuel
companies
Celebrities
Twin
River
Media
Gambling
Boyd
Gaming
SPORTS
BetMGM
Entertainment,
hospitality
Media
companies
Celebrities
Gambling
SPORTs
Caesars
Entertainment
Entertainment,
hospitality
Media
companies
Celebrities
Gambling
Eldorado
Resorts
Harrah’s
SPORTS
Jordan is special adviser to DraftKings’s board as well as a co-owner of NASCAR team 23XI
DraftKings
Entertainment,
hospitality
Celebrities
companies
Media
Tech
Gambling
Hollywood
Casino
SPORTS
FanDuel
Celebrities
companies
Media
Tech
Twin
River
Boyd
Gaming
Gambling
SPORTS
BetMGM
Entertainment,
hospitality
Media
companies
Celebrities
Gambling
SPORTs
Caesars
Entertainment
Entertainment,
hospitality
Media
Celebrities
companies
Gambling
Eldorado
Resorts
Harrah’s
SPORTS
Jordan is special adviser to DraftKings’s board as well as a co-owner of NASCAR team 23XI
DraftKings
Entertainment,
hospitality
Celebrities
companies
Media
Tech
Gambling
Hollywood
Casino
SPORTS
FanDuel
companies
Media
Tech
Celebrities
Twin
River
Boyd
Gaming
Gambling
This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.
To contact the authors of this story: Timothy L. O’Brien at tobrien46@bloomberg.net and Elaine He at ehe36@bloomberg.net
To contact the editor responsible for this story: Mary Duenwald at mduenwald@bloomberg.net

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