According to the American Gaming Association, a mind-boggling 17.6 million people placed a bet on Sunday’s Super Bowl game – either in person at a sportsbook or online.
More than half the states in the US now allow some form of legal sports betting, and the pastime is made even easier in states where wager on sports via mobile devices is allowed.
This fact has driven massive advertising campaigns targeting millions of sports fans who were glued to their screens in the fateful match between the Cincinnati Bengals and the Los Angeles Rams. The gambling industry spent $488 million on advertising between November 2020 and November the following year.
By 2025, it is estimated that sports betting will be a $37 billion industry, and those numbers are expected to grow even more as more states allow legal and regulated sports betting.
At present, more than thirty states (and Washington DC) have active betting markets. At least three more will launch their own markets in the coming months.
Many companies are jostling to grab a piece of this very lucrative pie and are extraordinary amounts to do so. Caesars sportsbook, for example, announced that it would be spending $1 billion on marketing and acquisitions, and rival groups are expected to follow suit.