The next big new business opportunity for OOH is here!
Monday, when the Supreme Court ruled in favor of legalizing sports betting for the states, lifting the ban on US sports betting, a new revenue stream was created and one which the Outdoor Advertising Industry should be pouncing on.
The US Supreme Court overturned a long-standing federal ban on state-based regulation of sports betting. Individual states will now be allowed to decide whether or not to legalize the activity. Prior to the decision, Nevada sports betting had what amounted to a legal monopoly on single-game wagering in the US.
If you have ever opened any links offered in our past posts, the one at the bottom of the page is a must open. It explains the ruling in detail and more importantly, provides statements from those in favor of the Court decision and will provide you with the language and understanding to move to next steps. The link also carries reaction from the NFL, MLB, NBA, NCAA, PGA, and more.
The American Gaming Association, or AGA, which is akin to our OAAA, said, “Through smart, efficient regulation, this new market will protect consumers, preserve the integrity of the games we love, empower law enforcement to fight illegal gambling and generate new revenue for states, sporting bodies, broadcasters and many others.” This is big and it translates big dollars for OOH and you.
generate new revenue for states, sporting bodies, broadcasters and many others.”
How and Why?
Every single expert from sports celebrities, franchise owners, politicians and news reporters agree with one thing: legitimizing sports betting will dramatically increase the level of interests in all sports. The ability to wager on games and scores with spread and over/under is one thing. Now think of bets which involve more secondary interests as simple and uncomplicated as how many yards a football punt will be kicked or how may pitches will be thrown in a baseball game. The granularity of that type of betting will be available and fans will wager. If any bet is a sure thing, increased wagering prompts greater sports fan engagement.
increased wagering prompts greater sports fan engagement.
What will it do for the OOH?
More business for OOH. Let’s look at a few of the newly minted opportunities which you will want to start pursuing today.
The obvious benefactors to the legalization, (does this sound like when pot is legalized?) will be the businesses who will provide legal betting.
The obvious benefactors to call on for OOH opportunities
- Casinos, horse and dog tracks who are set up for betting and betting companies like Fan Dual and Draft Kings.
- The obvious calls are the casinos: Caesars Entertainment, Churchill Downs, Penn National Gaming, Boyd Gaming, Eldorado Resorts, Pinnacle Entertainment, MGM Resorts, Gaming and Leisure Properties, Las Vegas Sands and Wynn Resorts. Those are the big guns. Call your local and regional Indian owned casinos too.
- Sports Bookmakers – UK leaders William Hill and Paddy Power Betfair already have footprints in New Jersey (which is projected to have betting in place by Memorial Day) and Pennsylvania and should be the first states to go live. Mississippi, with 28 casinos in the state are ready to go with recent legislation already in place in preparation for this moment
While there are online casino games in limited markets, the potential for more sports betting is monstrous.
The not so obvious benefactors to call on for OOH
- The media, ESPN and Fox Sports and any one who carries sports programming. Why? Again, the ability to bet on every play. And there will be bets. With increased fan engagement, the level of interests in all sports will go up. Increased audience and ratings, increases the value of the media who carry sports’ programming.
- Restaurants, hotels, retailers of all types. The physical suppliers and business around the tracks and betting venues. The value of this ruling has been quoted to be in the billions. Every piece of OOH inventory in which a case may be made to deliver impressions for these businesses, just became premium inventory.
- Sports Franchises. Mark Cuban says it doubles the value of all Sports Franchise. More money from your already clients, professional sports teams. The NBA will be taking 1% from the state of New York’s betting. It’s a ‘integrity fee.’
- The States themselves. States like New Jersey,(est. $10 billion sports betting market) will receive a 12% cut for online gambling and 8% for the betting parlors or legal sports books/bookmakers.
- The anti gambling groups are going to receive more funding. Consumer protection spending.
- Software providers are part of the mix. Not sure if they’ll support their clients, the betting providers, but its worth the call. The biggest software companies in this space are 888 Holdings, Game Account Network, Scientific Games Corp, The Stars Group, GVC Holdings, and International Game Technology.
We are not judging if its right or wrong to bet on sports. The highest court in the land has declared it legitimate, the decision made. Time for you to make the safest and surest bet in your life, which you make everyday: Bet on yourself. Sell them Out of Home.
Time for you to make the safest and surest bet in your life, which you make everyday: Bet on yourself. Sell them Out of Home.
Here is the link you should open and read.⇒ The federal prohibition on sports betting is gone.