Study commissioned by AGA finds sports betting ad spend fell in 2023
Sports betting’s share of TV advertising has also decreased.
A Nielsen study, commissioned by the American Gaming Association (AGA), has found that sports betting advertisement volumes continued to fall in 2023.
This study looked at trends in US sports betting advertising for 2023, using Ad Intel, which is Nielsen’s advertising monitoring service for tracking detailed ad spend in markets and media outlets such as TV, print, digital, out-of-home and cinema.
In total, ad spend related to sports betting, which includes daily fantasy sports (DFS), declined 15% year-over-year and, excluding DFS, sports betting ad spend was down 21% from last year.
Across all channels, sports betting ad volume was down 4%, while looking specifically at TV, the largest category for sports betting advertisers, levels declined 11% since 2022 and 33% since 2021.
Sports betting’s share of TV advertisements compared to other industries also took a drop.
In 2023, sports betting’s share of TV advertising was at 0.4%, an ongoing decrease from 2021, when it was 0.7% and 0.5% in 2022.
Other industries that held a higher volume of TV advertising share in 2023 included alcohol (0.5%), telecom/wireless (1.5%), fast food (3.8%) and pharmaceuticals (14.1%).
This is also highlighted by the fact that, according to the study, “As sports betting has expanded into new states, legal operators often launch advertising campaigns to raise awareness of legal sportsbooks and capture market share. Over time, those markets mature and the level of advertising declines. Last year, there were fewer television ads for sports betting than for other familiar products marketed to adults.”
The AGA recently conducted another survey, aimed at gambling industry executives, which once again highlighted a positive outlook on the future of the industry, despite potential challenges in the evolving market.
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