Deloitte: The sports world is working to integrate betting into the overall fan experience
Researchers at Deloitte, one of the "Big Four" accounting firms, have released a new report titled "Sports Fan Insights 2023: The Beginning of the Immersive Sports Era." Professional and college sports leagues, organizations, teams and media companies still haven’t figured out how best to bring about the emergence of legal sports betting in the United States, the report said.
The landmark U.S. Supreme Court decision in May 2018 restored the legality of sports betting to states, giving rise to a new industry. This has resulted in more than 30 states now having legal sports betting laws.
This historic ruling dramatically changed the sports landscape in the United States. Research shows that fans of sports betting are significantly more engaged, watch more, spend more, and discuss the sports, teams and players they watch more on social media.
Television sports viewing has increased significantly since the introduction of regulated sports betting. However, Deloitte researchers found that the sports industry still has a long way to go in perfecting gaming integration.
Key Demonstration
Deloitte’s 2023 Sports Fan Insights found that sports betting is extremely popular among young people, including key Millennials and Generation Z.
Research shows that Gen Z is particularly hungry for comprehensive athletic and social experiences. Gen Z is more likely to use social media and provide live commentary on the sporting events they watch.
About 80% of Gen Z fans follow at least one professional athlete online, which often leads them to place a bet on that athlete or sport. Nearly 20% of Gen Z sports fans say they use sports betting apps because they follow professional athletes online.
Sports leagues and franchises are trying to capture the younger market by partnering with sportsbooks and allowing sportsbooks to advertise on television and streaming broadcasts. The league also allows sports betting in some stadiums, something that would have been unthinkable less than a decade ago.
But other fans expressed frustration at the "excessive advertising" at the prospect of sports betting. This creates a certain divide between punters and non-betters or casual bettors.
If you want to integrate betting into the fan experience, it’s also important to address the feelings of non-betters,” Deloitte’s research shows.
The study found that two-thirds of non-betting fans said they saw too many sports betting ads (compared to 48% of bettors). 59% of non-betters are concerned about the long-term impact of unnecessary sports betting advertising, compared to just 42% of bettors.
"This reflects the perception that as sports betting becomes more common in the United States, the potential for error and abuse may increase," Deloitte said.
Challenges remain
The legal sports betting industry is booming in the United States. Since the SCOTUS ruling in May 2018, bettors have legally bet more than $236.5 billion and bookmakers have lost more than $19 billion.
Sports betting sparked interest in college and professional sports in the United States. But Deloitte warned leagues they also need to consider older fans who don't bet regularly.
“In search of new revenue and deeper personal connections, many teams, leagues, organizations and media companies have begun to consider integrating sports betting into the fan experience. There is an increase in sports betting in venues and some early efforts by streamers. Experimenting with integrating betting functionality into their services.
To capture and expand this market, sports betting providers have made a strong push in recent years through aggressive advertising and incentives. Despite this opportunity, questions remain about how to integrate sports betting into the overall fan experience and how to cater to bettors without upsetting other fans. ” concluded Deloitte Market Research.
Deloitte researchers asked more than 3,000 U.S. sports fans ages 14 and older to draw their conclusions.
Read also:
- U.S. cities with the most Swifties per capita
- Blackjack Casino Advantage: How to Beat the Odds
- Football 101: What is relegation in football?
- IGT provides Rio Las Vegas casino management technology
Source: www.casino.org
