The sports industry is in the midst of a transformation, with sports betting becoming an increasingly significant part of the fan experience. However, a recent report from Deloitte, one of the “Big Four” accounting firms, suggests that professional and college sports leagues, organizations, teams, and media companies are still grappling with how to best implement this emerging trend.
The report, titled “2023 Sports Fan Insights: The Beginning of the Immersive Sports Era,” highlights the challenges and opportunities presented by the integration of sports betting into the fan experience. It reveals that while sports betting is popular among younger demographics, including millennials and Generation Z, there is a divide among bettors and non-bettors or casual bettors.
The study found that about 80% of Gen Z fans follow at least one professional athlete online, often leading to them betting on that player or that sport. However, two in three non-betting fans expressed frustration with what they perceive to be excessive advertising from sports betting interests. This sentiment was echoed by 59% of non-bettors who voiced concerns about the long-term impacts of the redundant sports gambling adverts.
The report also highlights the need to cater to non-bettors while integrating betting into the fan experience. It states, “When looking to integrate betting into the fan experience, it’s important to address the sentiments of non-bettors as well.”
The sports betting industry has seen exponential growth in the US since the Supreme Court’s landmark decision in May 2018, which returned the legality of sports betting to the states. More than 30 states now have legal sports wagering laws on their books, and bettors have lawfully wagered more than $236.5 billion since the ruling.
Despite the growth and potential of the sports betting industry, Deloitte’s report cautions that sports leagues must also consider their legacy fans who aren’t regularly betting. The challenge lies in blending sports betting into the overall fan experience without alienating other fans.
As the sports industry continues to evolve, it’s clear that the integration of sports betting into the fan experience is a complex issue that requires careful consideration. It’s a balancing act between catering to the interests of bettors and maintaining the engagement of non-bettors. As the industry navigates this challenge, it will be interesting to see how sports betting becomes a more seamless part of the fan experience.
