According to a recent forecast, a stock of $20B can help create $1.5B earning for operators. It is believed that then it would be three times the estimated 2020 football play handle which was around $7.5B. This forecast is the courtesy of PlayUSA.com, which says that the 2020 number was lower, attributing it to the Coronavirus pandemic and reducing the available games for the wager.
Additionally, the surge in the live and legal sports betting states in the past year is another reason for the increase in the 2021 football handle.
Sports betting is more popular than casino gambling, and more individuals are using cryptocurrency to do it. This comes as no surprise to frequent sports bettors, and many people will continue to wager on bitcoin sports betting.
PlayUSA analyst, Dustin Goucker, provides input by saying that the US market has shown significant growth since the beginning of the football season of 2020. Presently along with 22 states, Washington DC also allows legal sports betting to the delight of bettors and operators who hope that the figures will soon escalate.
The ambitious $20B football handle in contrast to the 2020 estimate may not be entirely unrealistic if several factors are taken into account.
Firstly the most wagered-on sport in the USA is football, and the NFL plays 17 games in the regular season this year, which is a level up from 16 games. In addition to this, the NCAA teams are predicted to be playing full schedules of regular games. It means more betting for bettors.
The second factor is that some states have allowed live and legal betting this year and are homes to large populations as well as college and Pro Football teams. As per Goucker, Michigan and Virginia are two prime examples.
Talking about the states that are new to this betting at online casinos, Arizona will start governed sports wagering from August 9 onwards with Louisiana, Florida, Connecticut, Nebraska, Maryland, South Dakota, New York, Wyoming, Wisconsin, and Washington to follow the league before the end of the football campaign of 2021.
Moreover, with the start of the football season, the advertising and marketing expenditures by operators will also attract and retain customers in a huge way. Also, Wall Street will be keeping a close eye on this kind of expenditure as some investors would be aiming for profitability similar to DraftKings and others.