According to PlayUSA, wagering on NFL and college football games may hit $20 billion this season. The company predicts that this year’s wagers may triple when compared to the 2020 season. While Michigan and Virginia have launched full-scale sports betting, more states are eager to join, which may further increase the amount wagered.
$20bn May Be Wagered on NFL and College Football This Season, Predicts PlayUSA
The leading network for news, analysis and research related to the regulated US online gaming market, PlayUSA revealed that this year’s football season may see more than $20 billion in wagers. PlayUSA predicts that wagers on NFL and college football games within the legal US sportsbooks may triple compared to the 2020 season. If indeed the football-related handle this year triples, this may result in $1.5 billion in revenue for the legal sportsbooks across the country.
PlayUSA predicted that NFL this season may see some $12 billion in bets. Here, it’s important to mention that this number excludes parlay bets. If bettors wager that much on the NFL, that may bring at least $800 million in revenue for sportsbooks, reveals PlayUSA.
On the other hand, PlayUSA predicts that some $8 billion may be wagered on college football, excluding parlay bets. That translates to more than $550 million in revenue for the legal sportsbooks from the placed wagers during the 2021 season.
The Growth of Wagers Does Not Come Unexpected
According to PlayUSA, multiple factors may impact the number of wagers on the NFL and college football games this season. While last year, the pandemic undoubtedly impacted the sports schedule, now, “operators are expected to invest millions” in football promotions, outlined the company.
Additionally, PlayUSA acknowledged that, since the end of 2020, both Virginia and Michigan have launched full-scale sports betting. The activity proved to be highly popular and as a result, Michigan became the fifth-largest US betting market, followed by Virginia that ranked seventh.
Another important factor that may impact the amount wagered is how many other states may launch sports betting during the 2021 season. Florida, Connecticut and Arizona, as well as other states, may launch or expand sports betting by the end of the season, which will undoubtedly boost the amount wagered.
The US sports betting market looks entirely different than it did just one year ago.”Dustin Gouker, lead analyst, PlayUSA.com Network
Dustin Gouker, a lead analyst for PlayUSA revealed that the US sports wagering market was propelled earlier this year with the launch of the sports wagering in Virginia and Michigan. Moreover, he acknowledged that the legal market has grown significantly and by now, it looks completely different since the 2020 football season. In conclusion, Gouker predicted that the upcoming season will be “historic” and unlike the ones seen before.