According to industry professionals, the legislation in the US sports betting sector is simply taking advantage of the "existing market".
Goldman Sachs The Daily Check discusses the growth of the US sports betting industry and predicts where the sector could find itself over the next decade.
Who is this?
Stephen Grambling , Gaming, Housing & Leisure Analyst at Goldman Sachs Research
Liz Bauer, Global Head of Content at Goldman Sachs
What do they say?
Explaining how customers see the sports betting sector in 2021, Grambling noted: “The overall sentiment has been positive and not surprising given that sports betting represents one of the biggest growth opportunities for consumers in the next 10 years. This is not only how you traditionally think about betting on your favorite team or favorite player, but also how sports media will be distributed in the future.
“It all started with the cancellation of the Professional and Amateur Sports Protection Application (PASPA) back in 2018. This opened the door to legislation for each state. However, we must keep in mind that there is a large gray market, primarily offshore operators, which was already developing before the abolition of PASPA.”
Grambling, who predicted "a $39 billion online sports betting market by 2033," added: "So in many ways, the legislation just hits an existing market, but you've also raised awareness and boosted marketing that will drive adoption over time." ".
Why should I watch this?
To learn about the growth of the US sports betting market and what the industry will be like in the next decade.
Where can I see more?
Source: Goldman Sachs YouTube channel
Goldman Sachs post: "U.S. sports betting with value in 'existing markets'" first appeared on GamblingTV.com.