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The sports betting market continues to surge in 2023
The sports betting market has continued its upward trajectory in 2023, with a staggering 84% growth in revenue compared to the previous year. This growth can be attributed to the legalization of mobile wagering in five new states.
The growth in the industry
Despite concerns about whether this growth is sustainable, a recent study conducted by Variety, a popular publication, found that in markets where mobile wagering had been legal for a full year before 2023, growth was slower but still significant at 19%.
Writer Gavin Bridge believes that this trend may hold the key to the future of regional sports networks, which are currently grappling with economic uncertainty.
Betting driving engagement
The study also found that, while winning money was the most common reason for sports betting, many bettors reported that betting made the games they watched more exciting. This suggests that there is potential for closer integration between sports betting and media partners, especially as they seek new ways to engage passionate local fans.
Comcast’s NBC Sports networks as a viable option
One example of this integration is Comcast’s regional NBC Sports networks. Through its partnership with PointsBet, NBC offers alternate broadcasts of the local teams it covers with a gambling focus. Although these alternative feeds have not been available for every game on the RSNs, Bridge predicts that we may see more of this type of programming in the future.
Ultimately, sports betting overlays and alternative game feeds can be expected for most major sports in the coming years, as media partners look for new revenue streams and ways to engage fans for longer.
