Place Your Bets: How Your Brand Can Hit the Jackpot With The Rise in Sports Betting
With the legalization of sports betting in several states, the popularity of gaming is growing fast. Here’s how your brand can cash in on this hot new trend.
Move over Las Vegas. In 2021, a total of 11 states in the country legalized sports betting. As the industry continues to expand to new markets, its popularity has also increased. The popularity of gaming has positively impacted Americans’ perceptions of the industry, as the American Gaming Association has found:
- 87% believe gaming is an acceptable form of entertainment for themselves and others
- 73% support legalized sports betting in their home state
- 64% say gaming provides high-quality jobs
As a result of these changing attitudes, The Morning Consult reports the number of adults gambling in sports more than doubled from 5%-12% from January to December. The American Gaming Association also reports that 1 in 5 US adults said they bet on sports at least once per month.
Meanwhile, through July 2021, the commercial gaming industry generated $4.83 billion, breaking the annual revenue that was set in 2019 – and those numbers are expected to rise. A study conducted by Gabelli Securities and the US Census estimates revenue in 2022 will be more than $3.5 billion. By 2028, industry revenue is expected to triple to more than $10 billion.
What does this mean for your brand?
Sports fans are passionate, and for those 1 in 5 adults that bet on sports at least once a month, they’ll be looking to trusted voices, personalities, industry-leading insiders, and hometown heroes who have the knowledge, the access, and the spark to keep audiences informed, excited, and ready to place their bets.
That’s where TEGNA comes into play. With 64 stations in 51 markets, our local broadcasts paired with the Locked On Podcast Network, provide a brand-safe environment where brands can thrive in aligning with big sporting events – like the upcoming NFL season or the World Cup in Qatar.
For example, our partners at Honda Dealers of the Carolinas sponsored a Tackle Your Tailgate spot aired on WCNC in support of the Carolina Panthers. While this segment did not showcase the dealer’s vehicles, it was still an opportunity for Honda to stay top of mind with Panther fans and show their support for the hometown team.
Sound Good?
With 64 stations in 51 markets, and our award-winning sports journalists, TENGA stations are uniquely positioned to help your brand reach its goals no matter what business you are in. Let’s get in touch.
