According to Pew Research, less than one in five Americans gambled on sports in the past year. [Image: Shutterstock.com]
Indications from scanning
One in five adults in the United States bets on sports in 2021, according to a report by the Pew Research Center on Wednesday.
19% of participants took part in some form of sports gambling
As part of the study, 6,034 adults were surveyed from July 5 to 17. The results showed that 19% of respondents engaged in some form of sports gambling, with 15% saying they casually bet with friends or family, a private pool, or a fantasy sports league.
8% of people surveyed said they had bet on sports at a sportsbook, racetrack or booth. 6% of the public claimed to have placed bets on the Internet – there was an overlap between the two groups.
Americans keep betting on sports
As for the noise that has been made about the sports betting industry, Pew’s data indicates that there is still plenty of room for growth.
In 2021, sports betting generated over $4.29 billion in revenue in the United States. From a purely mathematical point of view, if this revenue came from only 19% of adults, after Pew’s analysis, the market could grow to more than $22.5 billion with 100% participation. This does not count for inflation or increased bets.
Big money areas like California, Texas and Florida are also absent from the above totals. Once their markets are operational, both averages and totals rise based solely on their financial strength.
Americans have risked more than $125 billion on sports betting since a 2018 Supreme Court ruling that opened the doors to widespread legalization. 31 states in addition to Washington, D.C. have legal betting markets, while several more states are preparing to join the list.
The American Gaming Association (AGA) also expects a slight increase in gambling during the NFL season. It is estimated that 46.6 million American bettors will put up money before the Super Bowl in February 2023.
The AGA’s morale seemed to be confirmed during the first week of the season when geolocation data revealed a 71.5% increase in betting year-over-year. According to tracking company GeoComply, there has been a massive expansion in the reach of gambling, as locals can ditch offshore sportsbooks for their new legal options.
The Pew survey revealed interesting demographic differences related to gambling.
24% of men support sports gambling, while only 15% of women are able to say the same. 22% of participants under the age of 50 supported gambling, while only 17% of those over the age of 50 were in favor of gambling.
27% of blacks and 24% of Hispanics reported having gambling, while only 18% of whites and 10% of Asians reported having done so.
Certain categories did not make any distinctions
However, some categories did not make any distinctions. Education, for example, was not relevant, with 18% of college graduates and 20% of non-college graduates reporting having gambled. Wealth was also unrelated, with 22% of high-income, 19% middle-class, and 19% of low-income participants reporting having gambled.
Political affiliations did not provide any insight into gambling habits. 21% of Democrats and Democratic-leaning subjects have bet within the past year, while 19% of Republicans and Republican-leaning respondents have also bet over the past 365 days.
57% of respondents felt that sports gambling is neither good nor bad for modern society. 49% also said it was neither good nor bad for the sport itself.