U.S. Online Sports Betting Breaks Record in 2022
December 29, 2022
In the United States, mobile sports betting has already generated an eye-popping $80 billion in wagers, and 2022 is still not over. The NFL exerts a strong magnetic attraction on gamblers, as can be seen by looking at the monthly totals for 2022 up to this point and seeing the increases that happen for the regular and postseason seasons.
Although the college football season occurs at the same time as the NFL season, as the study explains, it is not nearly as well-liked by bettors.
ESPN and other broadcast partners for both sports should take advantage of the engagement that gambling can generate because NCAA March Madness also boosts income. Also take note that although November's total isn't comprehensive (at the time of writing, data was only available from AR, CT, IA, IN, KA, LA, MI, NJ, NY, PA, TN, and WV), it is still higher than totals from June, July, and August. Refer to the special report for state-by-state summaries from January to October.
Online sports betting was introduced in five states in 2022, including the hub of gambling, New York. As more states begin to operate in 2023 and beyond, this has contributed to the rise in total wagers, and this trend is expected to continue in the near future.
The amount wagered and the sum that consumers spend on sports betting are not the same, as stated in the VIP+ report. Suppose you wagered $10 and won $100. (including your original stake returned). The $100 you won was then wagered. This indicates that you spent $10 but bet $110, and it is this sum that jurisdictions where online gambling is permitted report on a monthly basis.
Having all that, 2022 is already shaping up to be a record year for wagering sums. The graph above demonstrates how betting increases annually with the return of the NFL and goes a long way toward explaining why the league has a sizable number of authorized betting partners.
2020 had no March Madness rise since the COVID-19 pandemic forced the cancellation of the event. The increase begins in 2021 and lasts until 2022.
The most recent month having nearly all of the data for 2022 is October, when VIP+ compared the totals wagered in each year from January through October. Even with Arizona absent from that month, the $73.3 billion wagered represents growth of 98% year over year for 2021, 569% year over year for 2020, and 2,268% year over year for 2019.
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