US Online Betting Growth Expectation in The Nearest Future

US Online Sports Betting Market Online Betting

US Online Sports Betting Market Has Bright Future

By Blake Roberts Founder & Editor in Chief Updated: 09 October 2021

Blake Roberts Founder & Editor in Chief

Blake Roberts is the founder of Betting.US and is currently heading the creative team as Editor in Chief. Born and raised in Morgantown, West Virginia, Blake is a great sports fan, with football and basketball being his favorite. He’s our trusted voice for all betting-related matters.

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A recent report from American investment experts Ark Investment Management has predicted a very bright future for online sports betting in the United States. Over the past year or so, more and more states have legalized online sports betting, and many others have plans to legalize it in the near future.

Online sports betting has become hugely popular in states where it is already legalized, and this has become even more apparent since the onset of the global pandemic when many venues were closed, and people were stuck at home.

It seems that the online sports betting market is destined for a very bright future, with predictions that it will grow enormously over the next few years.

What Are the Predictions?

The company has predicted that over the next four years, online sports betting in the United States will increase by close to 300 percent. This could then lead to aggregated annual revenue of approximately $37 billion by 2025.

It is thought that the unprecedented growth in online sports betting has stemmed from more states now offering access to mobile sports betting platforms. In addition, fears resulting from the global pandemic have spurred more states into action when it comes to legalizing sports betting, and it has also driven more sports fans online.

A report published in Front Office Sports reads:

Eleven states have already passed the $1 billion wager mark. So far, Virginia has reached the milestone fastest, in just four months. In the first three months of this year, sports betting revenue reached $961.1 million in the U.S., according to the American Gaming Association.

The rise in online sports betting activities has proven beneficial to many according to experts. Sports betting operators are naturally benefitting from the ever-increasing activities of sports fans who go online to place bets.

Sports fans themselves benefit from the ease and convenience of online sports betting. The relevant states benefit from increased tax revenue, particularly following the financial devastation caused by the global pandemic. Even TV networks in the United States are raking in money from associated advertising.

Another benefit that has been highlighted is that the increase in legal online sports betting across the United States will help to reduce the illegal sports betting market, which has become a big problem over recent years.

Concerns Over Addiction

Many experts are now expecting rapid and sustained growth in the online sports betting market, and this has already been experienced to some degree over the past 18 months.

However, one concern that has been raised in relation to the growth of online sports betting is an increase in addiction levels. Some charities are concerned that this will lead to a sharp increase in the number of people requiring assistance for addiction.

While some started using online sports betting platforms because of restrictions over the past year, many have continued to use this method of placing bets rather than going back to retail sportsbooks.

As the number of states legalizing online sports betting continues to increase, the popularity and success of the industry will continue to improve.