The State of the New Sports Bettor
In 2019 alone, more than $15 billion was wagered on sports betting, and companies have been flooding this gold rush market.
Throughout this period of intense growth, we spoke to clients, media and industry experts regarding the future of fantasy sports and the rise of sports betting. In speaking with these groups, we heard one recurring theme, which was, “We understand the fantasy sports landscape, but we don’t know much about the common bettor.”
To solve this problem, HPL Digital Sport conducted a third-party study on the demographics, habits, needs, desires and outlook of the new American sports bettor. More than 4,400 sports bettors were surveyed, solidifying a clear understanding of the new sports bettor and providing context for sports betting platforms to refine their go-to-market strategy, product and service offerings, and marketing and communication efforts.
Here is a preview of our insights.
The shift in sports over the past few months will redefine sports betting and accelerate its already rapid growth. Check out the following insights from our research on changing attitudes and regulations.
There is an opportunity for brands to innovate experiences for better engagement
More states will open up legal gambling quicker to boost revenue
Mobile betting will be the industry norm and not a state by state luxury
With less income available, betting operators will need to become more creative to build audiences
In our research, we answered long-standing questions regarding sports bettors’ demographics, education and habits. All of which helps us better understand the new sports bettor and how we can cater to their needs.
People that play fantasy also bet
The fantasy player and the sports bettor are nearly one in the same, given that 89% of sports bettors play fantasy sports.
Bettor’s #1 concern in picking a platform is ease of payouts followed by security, then brand reputation.