Panel: US sports growth “astronomical” as betting market continues to develop
A panel of experts highlighted the importance of entertainment in US sports betting.
SBC’s Betting on Sports Europe ended the day with a focus on the United States. Led by Marc Thomas, Partner at Propus Partners, the panel included speakers such as Omer Dor CEO at Sports IQ Analytics, Andy Wright CEO at Sporting Group, and Daniel Graetzer CEO at Carousel Group.
Entertainment was the central focus of the panel, how important it is, and how key it is to the rapid and unprecedented growth of the US sports betting market.
“The growth of the NBA and NFL is astronomical,” Wright stated, going on to say that US sports are so big they are likely to become second to only soccer in the European market within the next year.
The other panelists agreed, seeing the huge potential in the US sports betting market. Speaking on this, Dor said: “We haven’t begun to scratch the surface yet, it’s only a matter of time before we see the TikTok of sports betting.”
The key to this growth, according to Graetzer, is entertainment value.
“Europe can learn from the entertainment value that is present in the US, the scope is insane, huge TV screens, DJs, people are in awe of the spectacle of US sports. You can’t turn on the TV without seeing sports betting ads, it is everywhere,” he said.
However, while the market is undoubtedly exciting, and moving at pace the industry has never seen before, the panel had a number of worries regarding this rapid growth – especially in regard to responsible advertising.
“My only concern is, it is the Wild West right now, responsible gaming will arrive and they need to make sure they keep themselves in line. Three operators currently have 80% market share, that is not sustainable,” warned Wright.
The panel ended on the same tone it began, looking at the entertainment value the US sports betting market brings.
“We can’t know what product will be the market leader in five years time, it’s going to get bigger and bigger,” added Graetzer.
“US operators see innovation coming from in-play and the speed of in-play, DraftKings and FanDuel are working to make their marketers smarter and faster. Innovation will come from entertainment,” he concluded.
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