US SPORTS BETTING IN 2023
WELCOME
EXCEEDING EXPECTATIONS
ED BIRKIN , H2 GAMBLING CAPITAL
The fifth anniversary of the US Supreme Court striking down the Professional and Amateur Sports Protection Act is fast approaching .
Over this time there has been a wholesale reshaping of the US gaming sector , with mobile betting racing across multiple states , and a pandemic arguably accelerating rather than slowing its spread .
It ’ s against this backdrop that H2 Gambling Capital , in partnership with iGB , is looking at what ’ s next . As the pace of new state launches slows , where is growth coming from ?
For a sector in which a small cohort of brands tend to occupy podium positions in each state , there is there is perhaps more scope for upheaval than many would think . Over time , as markets such as the UK , Australia and Italy show , dynamics – and market leaders – can be knocked off their perch .
There ’ s also significant potential for growth in existing markets . Bonusing may be skewing gross win figures , and greater adoption of in-play wagering ( or its rapid-fire cousin , micro betting ) may allow operators to drive higher returns , and market share , from maturing states . This , of course , will be complemented by major new states – in 2023 , H2 predicts that 20 % of new gross win will come from just two : Massachusetts and Ohio .
When H2 produced its first sports betting white paper with iGB back in 2019 , we looked at what the US market might look like in 2030 . Thanks to a period of rapid acceleration in the four years since our inaugural report , our projection for US sports betting gross win is now $ 23.2bn by that year .
For a market that exceeds expectations , there ’ s still plenty more to come .
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