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47 Million Americans to Wager on March Madness as Legal Sports Betting Booms

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Sports Betting Market Size Is Likely to Experience a Tremendous Growth of USD 167.66 billion by 2029, registering a CAGR of 10.26 % by Size and Share, Industry Growth, Regional Outlook, Challenges and Analysis

 

More than 47 million Americans will place bets on the 2021 March Madness tournament, with online and physical sportsbook betting expected to grow dramatically compared to 2019, compensating for lower expected participation in bracket contests, according to new data from the American Gaming Association (AGA).

“The sports betting landscape has changed dramatically since 2019 – and as a result, tournament betting has transformed,” said AGA President and CEO Bill Miller. “As consumers formerly limited to bracket contests now enjoy access to legal sportsbook options, they also plan to place traditional sports bets as March Madness returns.”

While the overall number of Americans betting is flat from 2019, there have been significant shifts in how people plan to bet on the tournament this year. Bracket betting is expected to decline but more traditional sports bets placed online or at a brick-and-mortar sportsbooks are expected to more than double.

Since the 2019 tournament, 65.4 million more Americans have gained the opportunity to bet safely in legal markets in 13 new jurisdictions.

Key findings from the survey, conducted by Morning Consult, include:

  • 47.4 million American adults will wager on March Madness, about the same number that indicated they would bet on the tournament in 2019.
  • 36.7 million Americans will fill out a bracket, down 8% from 2019.
  • 30.6 million Americans will place more traditional bets on this year’s tournament, up from 17.8 million in 2019.
  • 17.8 million will place a bet online, up 206% from 5.8 million in 2019.
  • 8.3 million will place a bet at a physical sportsbook, up 79% from 2019.
  • Interest in the tournament is up slightly from 2019, with 26% of Americans saying they are extremely or very interested in the tournament, compared to 23% two years ago.
  • 42% of fans said they followed college basketball more closely this season, with 70% of those following more closely attributing their increased attention either somewhat or very significantly to the increased availability of legal sports betting.
  • Gonzaga University is the betting public’s favorite to win the tournament (17%), followed by Florida State University (11%) and Baylor University (8%).

“With more legal, regulated sports betting options than ever before, millions of customers now have safer ways to enjoy all the fun and suspense only March Madness provides,” said Miller.

Background

  • 25 states and Washington, D.C. have legalized sports betting, with 21 legal markets operational.
  • 17 states currently have active or pre-filed legislation to legalize sports betting.

 

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Arturo Vidal is the new ambassador of the betting site Estelarbet

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Arturo Vidal is the new ambassador of the betting site Estelarbet

 

Estelarbet, Chile’s leading betting site, is proud to introduce Chilean soccer legend Arturo Vidal as its new brand ambassador. The alliance with Vidal, the Chilean with the most titles in history, marks an important milestone for Estelarbet, as he will exclusively promote its entertaining variety of online casino games, spread responsible gaming and provide an impactful gaming experience. Within the strategic agreement, it was established that the sports betting and online casino will include new branded content activations, face-to-face events and community outreach with the widely known “King”.

Sebastián Salazar, CEO of the brand commented: “It is an honor to welcome a true King of Soccer to the Estelarbet crew. We are excited to have Arturo Vidal associated with the brand. I’m sure his presence will help us generate greater awareness that soccer, sports betting, and online casino are all a form of entertainment, as long as they are done responsibly.”

Estelarbet celebrates the Chilean heritage and the genuine love for online gambling that unites them with the soccer player, both being a real case of success on the national and international playing field. His career, which includes truly stellar moments such as his time in the golden generation, being the two-time champion of America with the Chilean national team, being the Chilean soccer player who won the most consecutive First Division leagues, winning 1 title in all the teams he has played, makes him an inspiring figure and idol of the sport at a national and international level.

Jimena Agudelo, Marketing Manager of Estelarbet said: “Our goal will always be to create exceptional and legendary experiences and who better to represent us than a true star like Arturo. His passion for the game, his dedication and commitment are the perfect reflection of the values we defend at Estelarbet. Without a doubt, he is the best strategic partner we have chosen to represent and increase the visibility of the brand not only in Chile, but also in Latin America.”

This partnership will undoubtedly enhance the entertainment, betting and gaming experience for the brand’s customers and provide them with unparalleled content with the fastest payouts in the sector.

Karla Porto, Influencer Manager says: “Estelarbet’s partnership with Arturo Vidal, is a bet on the great visibility and recognition he has worldwide. With more than 20 million followers on his Instagram account, he has a broad base, which translates into a massive platform to promote the brand, reaching a diverse audience passionate about soccer and sports in general. This will undoubtedly boost Estelarbet’s visibility regionally and attract new users interested in sports betting.”

With Arturo Vidal as the brand’s star, Estelarbet continues to reaffirm its commitment to offer an extraordinary, exciting and safe gaming experience for all users of the platform in Latam.

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Press Releases

YouGov unveils US bettor research report, which highlights that 43% of sports bettors use three or more sportsbook apps

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YouGov has released its US bettor research report, which provides detailed insights into the preferences of US sports bettors.

Utilizing YouGov Custom Research, the report uncovers the impact that ESPN BET has had on the market, which in-app sportsbook features drive bettor engagement, and much more.

The report finds that:

  • 71% of 25-44 year-old bettors find the ability to live stream sporting events that they bet on in their sportsbook app important (vs 65% all ages)
  • bet365 is the most used sportsbook by 21-34 year-olds and DraftKings is used most by all other ages
  • 67% of 21-24 year-old current and prospective bettors are likely to create a sportsbook account with a sportsbook that is associated with a streaming service (vs 57% of all ages)
  • 51% of sports bettors are using ESPN BET more than they used to (vs 15% using it less)

“The US sports betting industry is a very competitive marketplace and maintaining loyalty from customers has proven to be difficult for sportsbooks, especially when new sportsbooks enter the market,” said Jeff Morris, VP at YouGov.

“Our research shows that the sportsbooks that incorporate key in-app features like live streaming sporting events can provide an advantage for driving interaction from current sports bettors and attracting prospective sports bettors.”

The report highlights key factors that would influence prospective sports bettors to create their first sportsbook account and provides an in-depth look at how sports bettor preferences vary across age groups.

 

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Compliance Updates

Arkansas Casino Seeks iGaming Approval

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An Arkansas casino is seeking approval to operate an iGaming app, allowing people within the state to go online to play casino games such as slots, blackjack, craps and more.

On March 13, Carlton Saffa, Chief Market Officer for the Saracen Casino Resort in Pine Bluff, wrote to Arkansas Racing Commission Chairman Alex Lieblong asking for a change in the rules to allow Internet casino gambling, which is often referred to as iGaming or iCasino platforms.

On Monday, Saffa told Gambling.com he hopes to appear before the Arkansas Racing Commission on May 6 seeking approval to offer iGaming. The Arkansas Racing Commission regulates all gambling matters in the state including horse racing and casino games.

iGaming Doesn’t Hurt Bricks-And-Mortar Casinos: Saffa

Nationwide, only a half dozen states from Michigan to Connecticut offer Internet casino gambling. Arkansas would be the first in its region with iGaming, permitting users who want to log onto a computer or download an app to play traditional casino games for money. Other states in the region already offer sports betting.

In his March 13 letter to state regulators, Saffa said estimates indicate Internet casino gambling from the Saracen Casino Resort alone would generate an additional $12 million in taxes annually for the state. Internet casino gambling, or iGaming, generally raises more tax revenue than sports betting in states that have both.

However, in some states without iGaming, casino operators have fought legalization, contending customers won’t visit a bricks-and-mortar casinos and spend money at restaurants and on other amenities including entertainment and lodging if they can log onto cellphones or computers and gamble from anywhere. In his letter to state regulators, Saffa pointed to research showing iGaming doesn’t cannibalize bricks-and-mortar casinos but instead gives them ‘a lift’.

State Rule Change Required

Arkansas already allows online poker, though that has not been made available to consumers, Saffa said. He said the ability to allow iGaming would require the Arkansas Racing Commission to amend a rule to include Internet casino games in addition to the currently legal online card games such as poker.

“A solution exists by amending ARC Rule 5, which already authorizes online poker, to include other types of table games and slots,” Saffa told Gambling.com on Monday. “Doing so would provide significant tax revenues to government and, just as important, ensure that operators be held accountable by the government. Given that we have seen online operators in the fantasy sports space ignore cease and desist demands from the state, merely attempting to police the matter is not a workable solution.”

Saffa recently made a similar argument on the topic of unregulated gambling, telling Gambling.com on The Edge he opposes a ban on college player props bets, saying, “Sunlight is the best disinfectant.”

“People in Arkansas are already gambling in online casinos and those companies are not regulated or taxed by the Arkansas Racing Commission,” Saffa said Monday. “Those companies are not held to the standards the people of Arkansas set forth for operators to include that a customer must be 21.”

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