2022 NFL and college football bet $31 billion amid push for legalization

As the NFL season kicks off with Thursday’s game between the Buffalo Bills and Super Bowl champion Los Angeles Rams, sports betting operators like DraftKings DKNG,
+ 3.85%And the
FanDuel, MGM MGM,
+ 1.41%
and Caesars CZR,
+ 2.01%
He could be about to set records for betting this year.

46.6 million American adults plan to bet on the 2022 NFL season, up 3% from last year, according to the New American Games Association (AGA) Research. One of the main reasons for this is the increase in the number of states offering legal sports betting.

“The continued interest in NFL betting reflects the continued growth and maturity of legal sports betting across the country,” said AGA President and CEO Bill Miller. “It is clear that consumers want legal sports betting options and understand the core obligations of the regulated industry to be responsible.”

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As of September 2022, 31 US statesin addition to Washington, D.C., offers some form of legal sports betting, compared to this time last year when only 22 states, plus Washington, D.C., offered legal betting.

The NFL and college football are the two most betting leagues for almost every American sports betting company. Last season ended It was expected to bet $20 billion legally In football and this season, PlayUSAa website covering sports betting, expects a total turnover of $31 billion this football season.

“The appetite for football gambling is a direct reflection of the sport’s overall popularity here in the United States. “College football and professional football together represent about 30% of the total annual volume of betting at the global level,” Eric Ramsay, Market Analyst for PlayUSA, told MarketWatch. country, and this percentage is much higher in some individual markets.” “The busy sports season in the fall is the most important window for operators to acquire new customers and reactivate their accounts that have been suspended during the summer slowdown.”

New York State is expected to make more money betting football than any other state, according to PlayUSA, followed by New Jersey and Illinois.

The overall expected increase in the total amount Americans legally bet on football this year comes as a proposed California ballot could pave the way for the most populous US state to start accepting sports betting. Suggestion 26 And the Suggestion 27 It will allow Californians to choose whether and how they want to bet legal in the Golden State in November.

If one of those bills gets passed, Thursday’s NFL opener game between the Rams and the Bills in Los Angeles could be the last NFL opener to be played in California where sports betting has yet to run.

Interestingly enough, the 2023 Super Bowl in Arizona will be the first Super Bowl in history to be played in a state that offers legal betting for the sport’s biggest game.

Since the US Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) in 2018, it has been up to individual states to create sports betting legislation, not the federal government.

The bettors in the NFL have a clear favorite this season: the Buffalo Bills. The Bills Are The NFL Team Most Bet To Win This Year Energy In terms of total bets and total money on DraftKings.

NFL bettors love the Buffalo Bills this year, making them the most popular team to bet on in 2022.

kings

Opening night on Thursday The NFL game can be watched on NBC It aired on Peacock at 8:20 PM EST.

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The past 12 months haven’t been good for many Sports betting stocks. During that time, DraftKings shares are down 74.36%, and Penn Entertainment PENN shares are down 74.36%.
+ 1.19%
MGM shares are down 62.95%, MGM shares are down 22.62%, and Caesars shares are down 57.93%.

The Roundhill sports betting & iGaming ETF BETZ,
-0.13%And the
A weighted index of global sports betting companies and iGaming, it has fallen 53.81% over the past 12 months, compared to Standard & Poor’s 500
SPX,
+ 0.66%And the
which decreased by 11.8% during the same period.

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