COVID-19 could boost sports betting participation
A new study on current and potential sports bettors from consumer insight firms Heart+Mind Strategies and Horowitz Research found that one in six (14 percent) U.S. adults 21 years of age and older—especially young, highly-educated affluent men—engage in sports betting, a number that could increase to 34 percent with another 20 percent of U.S. adults considering entering the sports betting market.
As the sports industry begins to strategize recovery post-COVID-19, sports betting could play a critical role, according to a press release issued with the report. According to the study, betting makes sports more enjoyable, with 77 percent of sports bettors saying they are “more into sports now that they can bet on them.” It could also help offset the impact of lost ticket sales revenue as stadia consider limiting seating capacity for social distancing: 68 percent of sports bettors say they “would rather spend money on sports betting than tickets to a game.” The study also highlights opportunities for other industries that were profoundly impacted by COVID-19, including: casinos, tourism, payments and media.
“More than ever, the sports industry and its stakeholders need to evaluate the methods by which they enable fans not only to consume but be active participants in sports,” said Mike Dabadie, CEO at Heart+Mind Strategies. “In a world impacted by COVID-19, fans are interested in connecting with the excitement of sport in new ways, and sports betting is one of the biggest opportunities. Our study explores this opportunity in depth from a variety of stakeholder angles.”
To purchase a copy of The State of Sports Betting: New Frontiers, New Technology, and New Audiences,” visit www.heartandmindstrategies.com.