OOH Marketing Re—focus —Sports Betting
It is a race to place in the billion dollar sports betting industry whose effect on sports entertainment could have high value implications on the #OOH industry revenues. Sports betting is estimated to generate indirectly over $7 billion in revenues and nearly 130,000 jobs. Legalized sports wagering will build a complete new ‘cottage industry’ which will surround and feed off the billions generated.
As a media provider, Out of Home must be in place collaborating and marketing to the sports betting industry today. In planning our future OOH marketing focus, Sports Betting must be at the top of the list. Just as other media and associations are focused on sports betting’s effect on their business, so must OOH’s, targeting and driving in that direction as well.
As a media provider, Out of Home must be in place today collaborating and messaging sports betting industry today. In planning our future OOH marketing focus, Sports Betting should be at the top of the list.
According to the American Gaming Association, “The four major sports leagues will earn a collective $4.2 billion from widely available legal sports betting.”“Legal sports betting will also create substantial opportunities for state and local economies, generating tax revenue, jobs and supporting small businesses across the country.”
The AGA recently released revenue projections for the NFL and NHL, showing that those leagues and teams stand to gain $2.3 billion and $216 million, respectively, from widely available, legal, regulated sports betting. See the link⇒ Research by Nielson, commissioned by the AGA, which shows that legal sports betting could help generate additional revenues of $160 million for the NBA and $154 million for MLB as a result of spending by betting operators and data providers. The study projects that gaming operators may spend $64 million on MLB advertising and $57 million on the NBA – which may directly increase the leagues’ rights fees by the same amount. Sponsorship revenues from gaming operators would provide an additional $78 million for the NBA and $62 million for MLB. The NBA and MLB are also projected to earn $25 million and $28 million from data rights, respectively. See the AGA news release here⇒ MLB and NBA Could See Combined $1.7 Bill
Legalized sports wagering will build a complete new ‘cottage industry’ which will surround and feed off the billions generated.
“The brave new world of legalized sports betting,”the NJ Games infographic below outlines the latest state-by-state legislation, projected economic impact, and other information and stats. Legalized sports betting will impact the entire US economy and employment rate. Adams Outdoor’s new partner STATS is discussed as well.
Check out the info below from NJ Games at NJgames.org as you consider your next move bringing this new, nationwide category to Outdoor Advertising.
Link to NJ Games infographic here⇒ Future of sports betting infographic
We hope the NJ Games infographic below and AGA links above, help you begin your efforts in securing significant partnerships with the Sports Betting Industry. Let’s be part of the revenue party as it happens.
Link to to NJ Games infographic here⇒ Future of sports betting infographic