Legalized Sports Betting Industry
The newly legalized sports betting industry is broken down in the Sports Techie community blog by this infographic, “The brave new world of legalized sports betting” from NJgames.org. It outlines the latest state-by-state legislation, projected economic impact, monetization information, and stats. Leagues and casinos cheered when the US Supreme Court ruled against the Professional and Amateur Sports Protection Act (PASPA) enacted in 1992. As a result of the ruling in May, each state now has the right to decide on whether to legalize betting on sports, or not. This information also focuses on real-time sports data and future trends like betting on eSports, artificial Intelligence and blockchain technologies.
States are well aware that sports betting is expected to contribute $22.4 billion to the US GDP. Citizens across New Jersey, Mississippi and Delaware recently joined the sport wagering folks already in Nevada with the right to do so. Before this ruling, Las Vegas was the sports betting capital of America. Today, sports gambling is legal in seven states. Sixteen more have introduced a bill. Sports betting is change the bottom line for states.
This NJgames.org infographic looks at sports betting legalization and the projected impact on the US economy. Generating $208 billion for 2018, sports wagering will generate trillions in the foreseeable future. The notion that sports betting operations will increase the amount of direct and indirect jobs by a possible 200,000 makes financial sense.
U.S. Economic Impact
$41.2 billion is expected in total economic output via sports betting patrons in the US
- Direct labor $4 billion
- Indirect labor income $7 billion
Fiscal Impact $8.4 billion, consisting of state, local and federal tax impacts
- State and Local Share $3.4 billion
- Federal Share $4.9 billion
- Direct 86,819 jobs
- Indirect 129,852
Will leagues get there share of profits with the Integrity fee?
- Sports data is intellectual property of leagues
- NBA and MLB asking for 1% fee of wagered amount via sports betting operators
- American Gaming Association (AGA) claims 3.5% up to 5% of all bets equals to 20%-29% percent of profit
The monetization of real-time sports data is led by Sportradar and Stats. Sportradar has working relations with gambling operators, Stats core competency are media providers.
Monetization of Real Time Sports Data
- Sports eLeagues
Athletic Biometric Data (ABD) collected by sensors on athletes
Sports Data Companies
Who Do They Serve
- Sportsbook Operators
- Sports Media Companies
- Blockchain technology
- Sports Betting Bots
- Betting on eSports
Sports Techie, I saw a news story here in Georgia a few weeks back saying this state is no where near a bill or vote on sports betting, yet the positive economic impact and increase in job opportunities is clear.
Where does you state stand on legalized sports betting?
See ya later sportstechie in Seattle, Atlanta and around the world!
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