🦧 money's getting legal
🌊 pent-up demand in sports betting is coming to legal markets
currently sitting at $76b, the global sports betting market is anticipated to be ~$184b by 2030 (10.2% cagr)
as legal sports betting became available to 21 states in 2020 – coupled with massive stimulus dry powder looking for new sources of entertainment and income – us sports betting revenue nearly quadrupled to $4.3b in 2021
here are some notes i’ve compiled on the industry recently!
💸 gen z & millennials are betting big time
millennials are historically the most active (64% of millennial male sports fans place bets), but more and more gen z sports fans are trying it out
33% of 13-to-19-year-old sports fans surveyed bet on sporting events (note: the legal age is 18!)
compared to millennials, gen z bettors are 19% more likely to place bets socially, with friends or family, and conversely 15% less likely to participate alone
94% of bettors on uplatform, a gen z-first betting platform, are 30 years old or less
cs:go, dota 2, and league of legends make up more than 91% of esports bets on the platform
⚖️ the money is becoming legal
currently, 27 states have legal, regulated sports betting industries, and in h1 2022 alone, four more states are in the process of signing into law or passing bills
in europe, the general trend is that each country is supportive of establishing its own pool of permissible licenses and sportsbooks, though recently the english premier league asked clubs to enact a voluntary ban on new gambling jersey sponsor deals
👀 trying to keep my eyes on…
sporttrade: p2p sports betting marketplace designed to foster a stock-trading-like experience. emphasis on social aspects like challenging friends and leaderboard.
mojo: a-rod-backed nfl-focused sports betting app, offering a mval valuation method of measuring an athlete’s career value
midnite: london-based gen z-focused esports and sports betting platform with an added cashmode platform where users can play-to-earn skill challenges
pikkit: social betting platform that allows users to sync their legal sportsbook accounts, stay up-to-date on friends’ picks, and build a following based off their performances and track records
that’s all for today!
always always feel free to email me (firstname.lastname@example.org) to ask any questions! :)
💡 something im thinking about
interesting divergence from yesterday - will have to look more into it!
🙏 closing comments
all of this is just one ape’s thoughts, but I would love to hear what you want to know about! happy trading!
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