While the global pandemic has been a frequent disruption to professional sports since statewide lockdowns brought many industries to a standstill in spring 2020, statewide legalization of sports betting continued following the approval decision of the US Supreme Court in May 2018.
From February 2021, legal sports betting will be operational in 20 states and the capital. Virginia is the 20th state to announce its activities last month. Another five states have legalized sports betting and are working to make it operational in the near future.
What comes next for the frontier of legalized gambling in the US is the focus of "Sports Betting," the third in-depth study of the sector Variety Intelligence Platform (VIP) After our launch report on the subject as well as our Variety Thought Leader report which was our first exploration of the new betting market.
The 20-page report sheds light on the companies in the media and betting industries that are joining together to capitalize on the new opportunities that will arise from the legalization of sports betting.
After the stability of sports broadcasting as a market driver for media companies was impacted by COVID-19, resulting in a significant shift from MVPD subscriptions to streaming, media companies that once relied on steady revenue from sports rights treaties have hit with their own networks to turn to Sports betting to make up for losses.
The predictions of where sports betting market capitalization will increase continue to change in scope frequently. While more modest estimates put the market at nearly $ 8 billion by 2025, analysts continue to revise their expectations rapidly. A Morgan Stanley observer predicts that sports betting and internet gambling could add up to $ 15 billion by that time.
With the coronavirus remaining volatile and the reality of consumers reassembling the cables they cut is unlikely, investment in and attention to sports betting will only increase. If you find yourself in a state where you haven't got on the train, you can bet that it won't be for much longer.