US online sports betting hits record high in 2022

Note: This article is based on Variety Intelligence Platform’s special report “Sports Gambling & Media”, available exclusively to subscribers.

While 2022 isn’t over yet, mobile sports betting in the US has wagered $80 billion as long as consumers embrace the activity.

Looking at the monthly totals for 2022 so far, it’s clear the NFL is exerting a magnetic pull on players, given the spikes occurring for the regular season and playoffs. As the report details, although the college football season runs at the same time as the NFL season, it isn’t nearly as popular with bettors.

NCAA March Madness also provides a revenue boost, which means broadcast partners of both sports should look at the engagement the game can bring.

Also note that the November total is incomplete (with figures available from AR, CT, IA, IN, KA, LA, MI, NJ, NY, PA, TN and WV at the time of writing) but, even so, is higher than the totals for June, July and August. To see the breakdowns by state for January-October, see the special report.

2022 has seen five states launch online sports betting, including gambling powerhouse New York. This has helped increase totals wagered, and with more states launching operations in 2023 and beyond, we will continue to see increases in totals wagered in the near term.

As noted in the VIP+ report, the amount wagered is not the same as the amount consumers spend on sports betting. Imagine betting $10 and winning $100 (including your original stake refunded). You then bet the $100 won. This means that you spent $10 but bet $110, and it is this last figure that indicates where online betting is legalized and published monthly.

That said, 2022 is proving to be a record year for amounts wagered. The chart above shows how the return of the NFL each year sees betting increase and goes a long way to explaining how the league has a large number of official betting partners.

There was no spike in March Madness in 2020 when the COVID-19 pandemic hit and saw the tournament cancelled. The peak is observed in 2021, continuing in 2022.

VIP+ compared the totals wagered each year from January through October, the most recent month with nearly complete data available for 2022. Even though Arizona is absent this month, the $73.3 billion wagered reflects an increase in 98% year over year. for 2021, 569% YoY compared to 2020 and 2,268% YoY compared to 2019.

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