Analysts project $4.5bn national sports betting handle for Thanksgiving week
This would exceed figures reported last year by 11%.
Key Points
- To date, 38 states offer some form of legal sports betting
- Several college football games, as well as three NFL games are scheduled for this week
Sports wagers placed during Thanksgiving week are estimated to exceed previous highs in the US, as reported by Lucky Peak.
According to Macquarie analyst Chad Beynon, bets placed between November 25 and December 1 could reach $4.5bn across regulated US markets, an 11% boost when compared to last year’s wagering results.
Analysts say several factors have impacted the national rising trend and interest in sports wagering.
Since the US Supreme Court overturned a federal ban on sports betting in May 2018, 38 states and the District of Columbia have opened legalized sports wagering markets.
More states are considering allowing legal sports wagering within their borders. The state of Missouri recently put the matter before voters during this past election.
Voters in the state pulled the lever in favor of welcoming a sports wagering market, bringing Missouri one step closer to joining the pack of other jurisdictions that have embraced legalization.
There are three NFL games scheduled for this week, another factor which could significantly impact Thanksgiving week’s sports betting activity.
Good to know: A special Black Friday game is scheduled between the Las Vegas Raiders and the Kansas City Chiefs
Along with pro football, several college football games are due to air during the week, which could support a rise in betting during the Thanksgiving holiday.
Though sports betting has taken off in the US at a substantial rate since PASPA was overturned, the iGaming market stateside has plenty of room to grow.
Currently, seven states have allowed legal iGaming. These are: Pennsylvania, Delaware, Nevada, New Jersey, Rhode Island, West Virginia and Connecticut.
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