Within the remaining 17 states, there are four where sports betting has been legalized but bets are not being placed yet and in the other 13 sports betting is not yet legal, including the “Big Three” powerhouses – California, Texas, and Florida – which make up nearly 30% of the U.S. In 33 states along with Washington D.C., sports betting is now legal, and bets can be placed in person and/or online. We will touch on that more in the latter half of this blog. Due to the early nature of this industry and how quickly legalization has swept the U.S., it is maybe even more important to understand that the gold mine in these sponsorships may not last forever. However, we also want to look at this from the sponsorship revenue perspective. Since 2019 there has been an eight-fold increase in yearly nationwide revenue and the data suggests this figure will increase over the next decade. As the American sports betting industry boom continues, it is fascinating to keep an eye out for what is to come in an ever-changing industry.
