US doubles down on sports gambling: Mobile wagers are expected to top $80BILLION in 2022 – up 98 percent from 2021 – after New York and four other states legalized the industry
- Mobile sports betting industry expects total wagers to top $80billion in 2022
- That is a 98-percent increase from 2021, and is 569-percent better than 2020
- New York, one of five to legalize sports betting in 2022, topped all states
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The mobile sports betting industry is expecting total wagers to exceed $80 billion in the United States for 2022 as the country’s gambling laws continue to be loosened, state by state.
Variety is reporting that there was $73.9 billion wagered between January and October of this year, which is a 98-percent improvement over the same time period from 2021. Incredibly, it’s also a 569-percent bump from 2020 and a gargantuan 2,268-percent increase from 2019.
And the sports gambling industry is ending the year on a high note, with at least $6.3 billion wagered in November – more than June, July or August – and that’s only a partial tabulation, as several states have yet to report earnings for the month.
The mobile sports betting industry is expecting total wagers to exceed $80 billion in the United States for 2022 as the country’s gambling laws continue to be loosened, state by state
New York, one of five states to legalize sports betting in 2022, tops all with $13 billion in mobile sports wagers so far this year. New Jersey is in second with $8.1 billion, while Pennsylvania is third with a $5.3 billion handle.
Best of all, from the industry’s perspective, is the room for growth. Sports gambling remains illegal in California, Texas and, for the most part, Florida – the three most populous states in America.
The budding mobile sports gambling industry is the natural result of the US Supreme Court’s decision to strike down the Professional and Amateur Sports Protection Act (PASPA) in 2018. The ruling effectively gave states the right to legalize sports gambling. Since then, 25 states and the District of Columbia have legalized mobile sports betting, although there remains a federal ban in place for government property in Washington.
In total, more than 30 states now have some form of legal gambling, although the rules differ from state to state.
Los Angeles Rams Quarterback Matthew Stafford (9) throws a pass to Los Angeles Rams Running Back Cam Akers (23) in the first half during Super Bowl LVI between the Cincinnati Bengals and the Los Angeles Rams on February 13, 2022, at SoFi Stadium in Inglewood
The industry’s momentum hit a setback in California in November, when voters rejected a series of initiatives set forth by the gaming industry and Native American tribes.
But that impediment may prove to be short lived as other states reap the tax benefits from mobile sports gambling.
The trends also appear to be helping sports leagues, which are benefitting from a ‘clear link’ between engagement and wagers, according to Variety. For instance, those betting on an NFL
Variety’s study did find a ‘clear link’ between engagements and wagers. For instance, 67 percent of those betting on an NFL game where more likely to see it as well.
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