The American Gaming Association (AGA) has released a study on consumer trends over the last five years. The study covers the U.S. market following the repeal of the Professional and Amateur Sports Protection Act (PASPA) in May 2018, which opened the door for American sports betting.
America Supports Sports Betting
What has been gleaned from the study is that 85% of American adults agree with the Supreme Court’s decision to repeal PASPA. This is an increase from the 63% of Americans when the same study was done in 2019, just a year after the repeal. The study also showed that 77% of Americans are in favor of legal sports betting in their particular state.
In the last 12 months, 39.2 million Americans have wagered on sports with 78% of them wagering all or most of their bets through regulated operators. Seventy-seven percent of all online sports wagers are placed at regulated books compared to just 44% in 2019. This could be due to the growth of the sports betting market. More states than ever have online betting options for locals.
“American adults have always enjoyed betting on sports, and overwhelmingly value the ability to bring their action into a legal market, close to home,” said Bill Miller, AGA president and CEO. “The rapid spread of legal sports betting — fueled by regulated, responsible entities — has contributed to communities and established consumer protections by migrating betting away from the illegal market monopoly that PASPA perpetuated.”
Since PASPA’s repeal, the market has seen $220 billion wagered nationwide. This has led to $3 billion in state taxes for regulated markets. Funds from sports betting have gone towards education, healthcare, infrastructure, responsible gaming and problem gambling resource funding, and more.
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Legal Sports Betting Cutting Into Illegal Market
With the growing popularity of legal sportsbooks, the unregulated market is dwindling. The study shows that 46% of bettors who wager at unregulated books plan to transfer to regulated operators within the year. The legal market is managing to attract and retain customers from unregulated books.
Additionally, 90% of bettors who already wager legally plan to stay in the legal market within the year. There are three main reasons why sports betting customers are choosing to join regulated sportsbooks as opposed to unregulated operators.
Why Bettors Support Regulated Books Over Unregulated Operators By Percentage
- Confidence Bets Will Be Paid (71%)
- Trust In Account Security and Easier Payment Options (68%)
- Availability of Responsible Gaming Resources (58%)
This study shows the growing popularity of the sports betting industry since PASPA’s repeal. This growth should continue going forward with more states regulating each year.