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GAMBLING AND SPORTS BETTING - US - AUGUST 2018

Published By :

Mintel

Published Date : Aug 2018

Category :

Lifestyle

No. of Pages : N/A

Although they have been growing steadily, the gambling and sports betting markets have the potential to bust out in the coming years. Sports betting markets are expected to open up significantly on the heels of a monumental Supreme Court decision allowing states to regulate this market. Still, overcoming lingering skepticism and an aversion to money loss will likely need to happen for the markets to reach their full potential on a national scale.
Table of contents
OVERVIEW
What you need to know
Definition
EXECUTIVE SUMMARY
Overview
Figure 1: Total US sales and fan chart forecast of gambling, at current prices, 2013-23
The issues
Complicated legal system hinders growth
Figure 2: Attitudes toward gambling legality, May 2018
Infrequent gameplay common
Figure 3: Casino games played and sports bets made, May 2018
Ingrained issues for non-gamblers
Figure 4: Barriers to gambling, May 2018
Betting can feel out of ones hands
Figure 5: Attitudes toward betting, May 2018
The opportunities
Sports betting opens up
Figure 6: Sports betting opportunities, May 2018
Potential crossover in key demographics
Figure 7: Yearly casino gamblers and sports betters, by key demographics, May 2018
Cautious gamblers looking to get ahead
Figure 8: Gambling investment, May 2018
Fun trumps finances
Figure 9: Reasons for gambling, May 2018
What it means
THE MARKET WHAT YOU NEED TO KNOW
Gambling market steadily increasing
Sportsbooks dependent on popular sports
Experience-driven market bolsters gambling
State restrictions complicate legal landscape
GAMBLING MARKET SIZE AND FORECAST
Gambling market steadily growing
Figure 10: Total US sales and fan chart forecast of gambling, at current prices, 2013-23
Figure 11: Total US sales and forecast of gambling, at current prices, 2012-22
NEVADA SPORTS BETTING MARKET
Biggest sportsbook bolstered by smaller sectors
Figure 12: Nevada sports book revenue, 2011-17
THE LEGAL LANDSCAPE
Diverse legal standards fragments market
Commercial casinos
Figure 13: Commercial casino legality, by state, June 2018
Tribal casinos
Figure 14: Tribal casino legality, by state, June 2018
Racinos
Figure 15: Racino legality, by state, June 2018
Sports betting
Figure 16: Sports betting restrictions, by state, June 2018
MARKET PERSPECTIVE
Leisure market on the rise
Competing for free time
Social media influential for key gamblers
Sports fans eager to invest
MARKET FACTORS
Strong economy encourages discretionary spending
Figure 17: GDP change from previous period, Q1 2007-Q1 2018
Young adults feel more squeezed financially
Figure 18: Current financial situation, by age, February 2018
Climbing gas prices make travel more difficult
Figure 19: US gasoline and diesel retail prices, January 2007-June 2018
KEY PLAYERS WHAT YOU NEED TO KNOW
Gambling groups show reach
New opportunities opening up
Outside opposition looms
Emerging markets complicate landscape
LEADING GAMBLING AND SPORTS BETTING COMPANIES
MGM Resorts International
Caesars Entertainment Corporation
Penn National Gaming, Inc
Churchill Downs, Inc
William Hill plc
Paddy Power Betfair
DraftKings
WHATS HAPPENING?
Landmark court case opens sports betting market
Adding variety to casinos
Startups luring people to betting
Licenced games increase recognition
WHATS STRUGGLING?
Getting sports organizations on board with expanded betting
Resistance from local competition
Problem gambling still a problem
Bad odds put books at huge liability
WHATS NEXT?
Mergers, takeovers shaping new landscape
Gambling as spectator sport
Sports betting can expand emerging sports
Push to mobile
THE CONSUMER WHAT YOU NEED TO KNOW
Frequent gambling participation low overall
Potential for fun exists
Segmentation highlights opportunities for growth
The prize is a good time
Money is the ultimate barrier
Sports betting starts with the popular
New is not necessarily the answer
Legal status of gambling not the only barrier
Taking the (calculated) risk
Winning a special occasion
GAMES PLAYED
Key opportunity
Slots dominate the field
Figure 20: Casino games played and sports bets made, May 2018
Sports betting has room to catch up
Figure 21: Frequency of casino-style gambling and sports betting, May 2018
Casino players and sports betters similar
Figure 22: Yearly casino gamblers and sports betters, by key demographics, May 2018
GAMBLING POTENTIAL AND MOTIVATION
Key opportunity
One third would gamble once a month
Figure 23: Potential frequency of betting, May 2018
Fun more important than finances
Figure 24: Reasons for gambling, May 2018
GAMBLER SEGMENTS
Overview
Figure 25: Gambler segmentation, May 2018
Occasional Casual Gamblers (28%)
Demographics
Characteristics
Opportunities
Figure 26: Gambler segmentation Occasional Casual Gamblers, by demographics, May 2018
Frequent Casual Gamblers (13%)
Demographics
Characteristics
Opportunities
Figure 27: Gambler segmentation Frequent Casual Gamblers, by demographics, May 2018
Frequent Moderate Gamblers (17%)
Demographics
Characteristics
Opportunities
Figure 28: Gambler segmentation Frequent Moderate Gamblers, by demographics, May 2018
Occasional Moderate Gamblers (12%)
Demographics
Characteristics
Opportunities
Figure 29: Gambler segmentation Occasional Moderate Gamblers, by demographics, May 2018
Serious Gamblers (9%)
Demographics
Characteristics
Opportunities
Figure 30: Gambler segmentation Serious Gamblers, by demographics, May 2018
REASONS FOR GAMBLING
Key opportunity
Gambling more of a source of entertainment
Figure 31: Reasons for gambling, May 2018
Men swept up in the excitement
Figure 32: Reasons for gambling Select items, by gender, May 2018
Older gamblers carefree, younger more adventurous
Figure 33: Reasons for gambling Select items, by age, May 2018
BARRIERS TO GAMBLING
Difficult hurdles in the way of reaching non-gamblers
Figure 34: Barriers to gambling, May 2018
Education may sway younger women
Figure 35: Uncertainty of how to start gambling, by age and gender, May 2018
SPORTS BETTING OPPORTUNITIES
Key opportunity
Football, basketball demand interest
Figure 36: Sports betting opportunities, May 2018
Black gamblers go domestic, Hispanics international
Figure 37: Sports betting opportunities Select items, by race and Hispanic origin, May 2018
FUTURE GAMBLING DRIVERS
Key opportunity
High payouts, low stakes desired
Figure 38: Future gambling drivers, May 2018
Parents want freedom to gamble their own way
Figure 39: Future gambling drivers Select items, by parental status, May 2018
Hispanics looking for something new
Figure 40: Future gambling drivers Select items, by Hispanic origin, May 2018
Urban residents seek accessibility
Figure 41: Future gambling drivers Select items, by living area, May 2018
LEGALITY OF GAMBLING
Key opportunity
Legal status not necessarily the only obstacle
Figure 42: Attitudes toward gambling legality, May 2018
Parents looking for a place to play
Figure 43: Attitudes toward gambling legality, by parental status, May 2018
Frequent gamblers searching for opportunities
Figure 44: Attitudes toward gambling legality, by gambling segment, May 2018
GAMBLING INVESTMENT
Key opportunity
Gamblers cautious with investment
Figure 45: Gambling investment, May 2018
Younger gamblers more calculated
Figure 46: Gambling investment, by age, May 2018
Serious gamblers have more to lose
Figure 47: Gambling investment, by gambling segment, May 2018
ATTITUDES TOWARD BETTING
Key opportunity
Lack of confidence common among betters
Figure 48: Attitudes toward betting, May 2018
Youthful optimism wins out
Figure 49: Attitudes toward betting, by age, May 2018
Black, Hispanic gamblers more confident
Figure 50: Attitudes toward betting, by race and Hispanic origin, May 2018
Experience brings assurance
Figure 51: Attitudes toward betting, by gambling segments, May 2018
APPENDIX DATA SOURCES AND ABBREVIATIONS
Data sources
Sales data
Fan chart forecast
Consumer survey data
Abbreviations and terms
Abbreviations
Terms
APPENDIX THE MARKET
Figure 52: Total US gambling revenue and forecast, at inflation-adjusted prices, 2013-23

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