The Lucrative Business of Sports Betting


    Some estimates say annual revenue from the industry will top $10 billion. Twenty-five states and Washington D.C. have now legalized sports betting. This year ten brands in the state of Michigan went live with sports betting. How does radio fit in?

    Cumulus and Westwood One commissioned MARU/Matchbox to conduct a study of 700 Michigan adults from January 29 through February 1 to better understand consumer reaction to the launch of sports betting.

    What the study uncovered was that its an industry concentrated in the 21-54 demo. “While awareness of sports betting is strong among older demographics, Michigan adults over the age of 55 have little interest in app-based sports betting. Only one out of ten say they are very/somewhat interested. 28% of all adults 21+ in Michigan are very or somewhat interested in online sports betting. About 40% of adults 21-54 say they are very/somewhat interested.
    The study also discovered that brands in the sports betting business need help building their brands as 55% of Michigan residents are unable to name an online sports betting brand

    And finally, the study states that heavy AM/FM radio listeners in Michigan show more interest, engagement, and experience in online sports betting as well as greater awareness of sports betting brands compared to heavy TV viewers.

    Get more details from Westwood One about the study HERE.



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