Sports Betting Advertising Research Shows $2 Billion In 2023 Spending

New research shows the U.S. has seen a surge in sports betting advertising in 2023. Marketing and advertising across the best sports betting sites is set to eclipse $2 billion in 2023. This would mark an 8% increase year over year in ad spend across the nation. Additionally, since 2018, sports betting advertising spend has increased by 400%. Let’s look further into this sportsbook research to learn more.

Big Bucks On Sports Betting Advertising

This research comes from advertising and marketing research firm Disqo. Disqo accumulated this research through its 2 million user base and tracked their online behavior sentiment surrounding sports betting. Additionally, the customer experience platform surveyed 24,787 consumers.

Its projections also reveal 32 million American adults will place a wager online by 2025. This will mark a 39% increase from 2022. The results so far are more than $220 billion in sports wagers in the five years since PASPA’s repeal.

The increase is understandable. Prior to the repeal of PASPA in 2018, only Nevada was allowed to operate regulated sportsbooks. With more markets gaining access to sports betting odds every year since the repeal, there are more fans to market to.

The marketing has been working.

Public Sentiment Negative On Sports Gambling Ads

The research shows that U.S. audiences have negative sentiments about gambling ads, including sports betting advertising. There is a three-to-one negative to positive response rate on advertisements in the U.S.

Additionally, 40% of Americans believe major sports leagues can damage their reputation with sportsbook partnerships. Another 30% believe gambling deals can have negative effects on TV networks and celebrities as well.

This mirrors the sentiment across multiple markets that have begun pushing legislation for harsher regulations on gambling ads. Even the American Gambling Association has updated its guidelines with a focus on better practices with sportsbook advertising.

The recent pushback on gambling ads may not manage to change much in the industry, however. Sports betting has become a culture in the sports entertainment industry in the U.S. It is everywhere and has been embraced by fans. With new markets in North Carolina and Kentucky on the horizon, sportsbook advertising spend is only expected to increase.

“While no one really knows how regulatory and competitive pressures will impact the industry in three to five years, it’s clear that sports betting is here to stay and will continue to grow aggressively,” said Patrick Egan, Disqo’s director of research and insights, to The Drum.