70 Sponsored by Casino City’s iGaming Pocket Directory Sports Betting While Nevada has long been the mecca of sports betting in the U.S., it now has plenty of competition as the market leader. In December 2020, riding the momentum of American football on the college and professional levels and return of a full slate of sports following a shutdown due to the COVID-19 pandemic earlier in the year, New Jersey’s sports betting handle reached $996.3 million, the largest monthly handle in the history of the U.S. The future appears bright in the U.S. for operators and punters alike, as H2 Gambling Capital estimates that sports wagering will be offered in 32 states by 2030, with gross win figures reaching $10 billion annually. Mobile accessibility for sports wagering is a critical piece of infrastructure for betting, with advancements in geofencing and regulation protocol helping ensure consumer safety outside the casino. The online/mobile handle for New Jersey sportsbooks during the record-breaking month of December 2020 was $929,331,841, an increase of 6.56% over November’s $872 million and up 90% from December 2019 ($489 million). Mobile sports betting routinely represents more than 90% of the total handle in New Jersey. Pennsylvania reported 82.4% of its sports betting handle came through online channels, and in Tennessee, where there are no retail sportsbooks, the state attracted $131.4 million in gross wagers in November 2020, the best debut month of any U.S. state. As the market continues to mature and technological advances are made, the convenience of a sportsbook in one’s hand will solidify its standing. Conveniently making bets in one’s hand mirrors the increasing trend of in-play wagering. The European Gaming and Betting Association reported that 55% of the sports betting wagers were on in-play, as did Spain (55.92%). The in-play wager isn’t quite as popular in the U.S., but it’s beginning to gain traction. Meanwhile, eSports is blossoming into a mature industry through increasing awareness, viewership, platforms and more. Global gaming revenue was expected to double in 2020 to $14 billion, according to market analysts ProdegeMR, as gamblers shifted spend away from the traditional betting areas due to the impact of the coronavirus pandemic on live sports. The forecast also came on the heels of the Nevada Gaming Control Board issuing a notice of approval permitting sportsbooks to offer wagers on eSports events. A study by Newzoo projects that total global eSports revenues could reach $1.8 billion by 2022 with a 22.3% CAGR. SPORTS BETT ING INDUSTRY OVERVIEW
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