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Behind the Numbers: an EMARKETER Podcast
Around the World: Sports Betting’s Appeal and The Tensions That Come Along With It | Nov 25, 2024
Nov 25, 2024
Marcus Johnson, Senior Director of Podcasts at eMarketer, shares insights on the rapidly evolving world of sports betting. The conversation dives into the ethical dilemmas of sponsorships amidst tight regulations. They discuss cultural beliefs surrounding lucky numbers and how these influence betting practices differently around the globe. The growth of the legal betting market in the U.S., Canada, and the UK is highlighted, along with the associated challenges like gambling addiction and illegal online gambling. Engaging quizzes keep the tone lively!
31:40
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Quick takeaways
- The sports betting market has rapidly expanded since 2018, with revenues projected to reach $18 billion by 2026 as more states legalize it.
- Increasing partnerships between sports teams and betting companies pose risks of gambling addiction and raise concerns about the integrity of sports.
Deep dives
Growth of Sports Betting Market
The sports betting market has seen significant growth, particularly since the legalization of sports wagering in the U.S. in 2018. This year alone, the total amount wagered is expected to exceed $145 billion, resulting in approximately $13 billion in revenues. As more states legalize betting and join the market, projections indicate revenues could rise to around $18 billion by 2026. Similarly, Canada has also experienced a dramatic increase in sports betting activity, with a 78% year-over-year rise in wagers in 2023 compared to the previous year.
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Discover
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