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🦧 money's getting legal

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🦧 money's getting legal

Ape of Omaha
Jul 19, 2022
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🦧 money's getting legal

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🌊 pent-up demand in sports betting is coming to legal markets

currently sitting at $76b, the global sports betting market is anticipated to beΒ ~$184bΒ by 2030 (10.2% cagr)

as legal sports betting became available toΒ 21 statesΒ in 2020 – coupled with massive stimulus dry powder looking for new sources of entertainment and income – us sports betting revenue nearlyΒ quadrupled to $4.3bΒ in 2021

here are some notes i’ve compiled on the industry recently!

 

Β πŸ’Έ gen z & millennials are betting big time

  • millennials are historically the most active (64%Β 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 areΒ 19% more likelyΒ 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 thanΒ 91%Β of esports bets on the platform

 

βš–οΈ the money is becoming legal

  • currently,Β 27Β 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 ofΒ establishingΒ its own pool of permissible licenses and sportsbooks, though recently the english premier leagueΒ askedΒ clubs to enact a voluntary ban on new gambling jersey sponsor deals

 

πŸ‘€ 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 (apeofomaha@substack.com) to ask any questions! :)


πŸ’‘ something im thinking about

interesting divergence from yesterday - will have to look more into it!


πŸ™ 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!


 

Ask a Wise Ape is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.

 

as always, just another ape's thoughts and opinions – i am no financial advisor! (i am no substitute for professional financial services)
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🦧 money's getting legal

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