The Growth And Popularity Of NFL & Sports Betting Moving Into 2022
In this age of rapidly progressing technology and constantly shifting consumer needs, predicting future trends can be tricky. In the recent past, online casinos have been in a solid lead when it comes to trends in profits and popularity, but could this all change? An upsurge in sports betting, particularly in NFL football, suggests that it might.
In 2020, the sports betting market was reported as being worth a whopping $131.1 billion dollars, with projections of up to $179.3 billion by the year 2028. While this is not quite as impressive as combined profit of the casino industry, which is predicted to be around $525 billion by the year 2024, it nevertheless shows an exponential growth rate for sports betting that cannot be ignored.
Much of the rising success of sports betting, and online casinos, in the US and elsewhere, has been due to the revision of gambling laws to allow for new online forms of gambling. In 1992 most sports gambling was all but illegal in the US, with Nevada one of the few places where US bettors could go to place wagers, and only on single games at that. This all changed for the US in 2018, some years later than other parts of the world, when the Supreme Court finally gave individual states the go ahead to once again legalize sports betting.
It didn’t take long for states like New Mexico, Delaware, Mississippi, West Virginia, and New Jersey to jump into action. In fact, the state of New Jersey had been lobbying to get sports betting authorized at its casinos and racetracks for years, so it was no surprise that it was amongst the first to take advantage.
Promising Predictions For NFL
Recently, a report from the Bank of America suggested that, by the year 2022, nearly 50% of all US citizens will likely have access to legal gambling options. Earlier this year, the American Gaming Association also claimed that, by the end of 2020, up to 45.2 million US citizens, around 18% of the population, will have placed wagers on NFL football alone. This is a 36% increase from last year, and while it is somewhat understandable with Covid19 pandemic impacting the online industry in all ways and forms, it is a truly a staggering increase nonetheless.
Another “sign” of the great impetus NFL in particular in sports betting is that at the beginning of the 2020, the fans of eighteen states in the US had access to betting on NFL. By the beginning of the 2021 season, this will have grown to 21 states, including the capital of Washington DC.
Combine this with the popularity of other sports such as NBA, MLB, NHL, UFC, WBA, motorsports, English Premier League Football, Horseracing, and many, many others, and we can begin to see some truly exciting possibilities for sports betting in the near future. Possibly even overtaking online casinos as the number one form of gambling entertainment in the US, and around the world. Although with the Grand Rush Casino no deposit bonus codes they have some stiff competition.