US SPORTS BETTING IN 2023
NOW AND THEN
May 2023 marks the fifth anniversary of PASPA ’ s repeal and US sports betting proliferating at pace . iGB ’ s principal data partner H2 Gambling Capital analyses the current state of the market and examines the forces that will drive continued growth
PART 1
H2 GAMBLING CAPITAL has assessed the major trends and developments of the past year of US sports betting that has seen more than $ 85bn in legal bets made across 33 states – 90 % of which has taken place online .
The gross win ( handle less prizes paid out ) generated over the same period totals over $ 6.3bn but H2 estimates that free bets make up around 39 % of this , indicating that net win was $ 3.8bn .
Commercially regulated sports betting is now available to 43 % of the US adult population across 26 states which have a combined GDP of over $ 10tn . With this considered , H2 estimates the average gross win per adult over the past 12 months to be about $ 60 , with actual net win coming in at around $ 37 .
While the growth of US sports betting has been very strong since 2018 , the market still remains relatively small in the global context , with substantial runway for future growth .
US BETTING IN ITS INFANCY
H2 forecasts the US sports betting market will grow by 50 % year-on-year in 2022 , and then more than double between 2022 and 2027 ( see Fig 1 ).
However , this would still equate to
Fig 1 : US vs non-US sports betting gross win ($ bn )
100
80
60
40
20
0 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
Source : H2 Gambling Capital , January 2023
Non-US US
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