"New Study Shows Increase in Sports Viewership Due to Legal Betting"
A new study from the US entertainment magazine Variety explains how legal sports betting could increase the number of viewers tuning into sports broadcasts. For instance, in states where wagering on games is allowed, avid sports fans are likely to watch more live events on television. The research was carried out by Prodege, a leading market research institute, and was commissioned by Variety.
Modern Sports Fans
Recent studies show that sports events are still incredibly popular among viewers worldwide. Free-to-air television has been seeing a decline in the number of live broadcasts, but the viewing figures keep increasing. This could be attributed to companies investing significant amounts of money in the broadcasting rights of sports like basketball, baseball, and football.
Yet, the study suggests that legalized sports betting could contribute to this increasing interest in live sports. The study reveals that potential bettors are more inclined to watch an event if they can place bets simultaneously. For instance, 54% of those who have placed sports bets in legal markets confirmed that they watch more games on TV when able to wager at the same time. In contrast, people who have never gambled but are interested in doing so stated that they would also tune in more frequently. Specifically, 82% of these respondents would also enjoy watching the sporting event on TV.
Most Bet-Friendly Sports
The Prodege survey found that football, basketball, and baseball are the most popular sports for potential bettors. According to the study, 90% of football fans noted that they would watch more games live if they could place bets simultaneously. Meanwhile, 55% and 50% of basketball and baseball fans demonstrated a heightened interest in legal sports betting opportunities. In general, team sports tend to attract potential wagerers the most.
The Ins and Outs of Championships
Regardless of the sport, championship and final matches have the highest viewership among existing and potential sports bettors. The US Super Bowl is by far the most popular event, followed by the final series of the NBA and MLB, as well as college basketball. A whopping 79% of those surveyed prefer to tune into championship games, while 62% focus on their favorite teams and therefore tune into the games on TV. Additionally, 48% of respondents enjoy various tournament events. However, only 19% regularly bet on teams and sports without interest and don't watch the events.
Higher Viewership in Legal Betting States
The study also found that viewing figures for sports events are higher in states where sports betting is already legalized, such as Pennsylvania, Mississippi, Nevada, and New Jersey. The probability of a sports bettor watching the game they've placed a wager on is approximately 88%.
The survey didn't offer any insights into potential deterrents for those who want to bet for the first time but might be prevented by certain bans. It's unclear if these supposed bans have a negative impact on the overall viewership of sports events. However, the market researchers concluded that both sports associations and those holding television rights will continue to capitalize on the growing interest in sports.
A Thriving Sports Betting Scene
The notorious repeal of PASPA has seen many European betting companies, like Paddy Power Betfair, William Hill, and Bet365, enter the US sports betting market. These companies have partnered with local casino groups, like Caesars and MGM, to extend their reach. Recently, Caesars even struck a sports betting deal with ESPN. Moreover, Tennessee and Illinois have recently introduced new regulatory adjustments for sports betting. Now, it's unclear whether other TV broadcasters will support local bookmakers based on the findings of this study.
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