The U.S. sports betting industry picked up speed in 2021 when market analysts reported a 50% hike in the number of wagers placed across the country to over $52 million.
The U.S. Betting Market Is Booming
The latest recent market research by Technavio reveals that by 2025, the sportsbook industry in the whole Asia-Pacific region will exceed $106 b in market capitalization.
The predicted growth of just under 40% is mainly due to bettors from China and Australia, followed by the U.S. and Canada.
Critical Factors for Sports Betting Industry's Growth in the U.S.
Along with legislative efforts and market liberalization, two more factors boost the sportsbook industry's growth in the U.S.
Digital marketing's rising popularity is the primary factor for the steady growth of the sportsbook industry.
Sportsbook giants like FanDuel and BetMGM have taken considerable advantage of this new advertising medium.
The Age Factor
As big sportsbooks "conquer" new states every year, more and more young Americans join their websites and download their apps.
The number of regular bettors between 21 and 25 years of age has increased by 30%, or over 15 million, since 2021, the National Council on Problem Gambling reports.
Where Is Sports Betting Legal in the USA?
Since 2021, eleven more states have legalized online sports betting, attracting over $1 billion in investments. Now, Americans can bet online and at physical retailers in 30 states, including Washington, D.C.
The Strange Case of Ohio
Although the Buckeye State legalized sports betting in late 2021, gamblers are still waiting to take advantage of the FanDuel Ohio promo code.
The long wait is supposed to end at the beginning of 2023 when all of the biggest sportsbooks will launch their websites and apps in Ohio. The state's gambling commission is planning to distribute 25 sportsbook licenses.
Ohioan Sportsbooks to Spur Further Growth of the Industry
As soon as whale sportsbooks and their affiliates set foot in the Buckeye state, the U.S. sportsbook industry will expand even further.
Of all sportsbooks that already provide fantasy sports in Ohio, FanDuel has the most aggressive digital marketing strategy.
The operator will probably sign partnership contracts with the state's biggest sports franchises like the Ohio State Buckeyes and the Cleveland Browns.
DraftKings is one of the most popular DFS operators in Ohio. The company has developed user-friendly sports betting app that will win the hearts of the young bettors across the state.
Once they log in, they will receive generous welcome bonuses and unique deposit-boost promo codes.
BetMGM Sportsbook is also bracing up to explore Ohio's unchartered sports betting market. The sports betting arm of MGM Resorts International will use MGM Northfield Park as a launching pad for its website and mobile app in Ohio.
Growth Perspectives Before America's Sports Betting Industry
There is more room for expansion of the U.S. sports betting market. States like Massachusetts, Florida, North Carolina, and Georgia are making massive legislative efforts to welcome online casinos and sportsbooks within their borders.