As the 2024 NFL season kicks off, the American Gaming Association (AGA) has unveiled its first-ever projection for the legal sports betting market, estimating an impressive $35 billion in wagers. This forecast represents a significant increase from the $26.7 billion estimated for the 2023 NFL season. This surge in projected handle reflects the ongoing expansion and maturation of the legal sports betting industry across the United States.
Expansion of Legal Markets
Since the last NFL season, several states have launched new legal sports betting markets. Maine, North Carolina, and Vermont have joined the growing list of states offering regulated sports betting, contributing to the industry’s expansion.
Maturation of the Industry
The legal sports betting industry has continued to evolve and mature, with improvements in technology, increased market penetration, and a greater number of operators providing more opportunities for bettors.
Increased Public Support
The AGA’s recent data shows growing public support for legal sports betting. With 75% of American adults now in favor of legal sports betting in their state, up from 73% in 2023, there is a clear trend toward greater acceptance and participation.
Confidence in Legal Sportsbooks
90% of past-year sports bettors stress the importance of using legal and regulated sportsbooks. This reflects a strong preference for platforms that operate within the bounds of the law, providing a sense of security and trust.
Commitment to Responsible Gaming
There is a widespread belief in the commitment of the legal industry to responsible gaming. 88% of respondents believe that the industry is dedicated to responsible gaming and combating problem gambling, indicating a high level of confidence in the measures taken to ensure safe betting practices.
Effectiveness of Responsible Gaming Programs
The effectiveness of responsible gaming programs is recognized by 85% of respondents, up from 83% the previous year. This increase suggests that the industry’s efforts to promote responsible gaming are resonating with the public.
Awareness of Responsible Gaming Resources
An impressive 96% of past-year sports bettors are familiar with at least one responsible gaming resource. Additionally, 57% of bettors report increased exposure to responsible gaming messaging over the past year, highlighting ongoing efforts to raise awareness.
Industry Commitment and Future Outlook
In a statement about the upcoming season, AGA President and CEO Bill Miller emphasized the association’s commitment to ensuring that sports betting remains a safe and enjoyable activity for fans. “With the excitement of another NFL season upon us, Americans are placing their bets with the confidence that the legal sports betting market is prioritizing consumer protection and responsibility,” Miller said.
He further assured that the AGA and its members are dedicated to collaborating with leagues, regulators, and other stakeholders to provide bettors with the knowledge and tools necessary to keep sports betting a responsible and fun part of the game-day experience.
The AGA’s groundbreaking forecast for the 2024 NFL season highlights a significant milestone in the growth of the legal sports betting industry. With a projected $35 billion in wagers, the industry continues to expand and gain public support. As more states introduce legal sports betting and the industry matures, the emphasis on responsible gaming and consumer protection remains a top priority. The trends and data presented offer a clear picture of a thriving and evolving market poised for continued success.