Sports Betting Ad Spending Increases Alongside Impressions

Article by : Milena Petrovska Jan 4, 2024

• 
• 

Sports betting advertising has experienced a 10% increase in the US in the period between September 1 and December 26, reports EDO Ad EnGage. The platform, known for using real-time engagement metrics and behavioral statistics, additionally reported that the impressions were up by 52% YoY.

EDO Ad EnGage Did Not Disclose Reason for Increase

According to the company, the total cost for sports betting advertisements in the US hit $237.8 million. Impressions reached 20.7 billion, which is much higher than the 13.6 billion seen in 2022.

EDO Ad EnGage didn’t disclose the main reason for the increase in advertising. However, several factors were mentioned as the possible drivers.

One of them could likely be the start of the NFL season.

Other factors could include the launch of betting apps such as the ESPN betting app. To add to that, the sports betting industry in the country keeps expanding at a rapid pace. Over 40 states have started regulating this form of gambling since PASPA was turned over.

American football could be the leading factor because it is one of the most popular sports in the US and the most wagered-on. Sports betting companies are constantly looking to promote their new offers, and ads are one of the best ways to do so.

Non-sports TV Networks Also Increased Sports Betting Ads

The report by EDO Ad EnGage went on to conclude that several TV networks that are not related to sports also increased the number of ads.

Wayne Friedman, a MediaPost author and a reporter for the statistics, shared a few of those networks.

• TBS had a total of 3,270 airings;
• Discovery Life Channel had 2,160 airings;
• truTV had 3,130 airings;
• FXX had 3,010 airings.

In addition, Amazon Prime shared some insights into the growth of its Thursday Night Football show. According to the company, the younger audience was far more attracted to TNF in 2023 compared to its 2022 reports. Its entire 13-game schedule was up by 24%.

The median age in 2023 was seven years younger than in 2022. The report states that people aged 18-34 averaged 2.4 million per game. This figure represents a 14% increase compared to the one seen in 2022.

These figures suggest a shift in the viewership demographics. Namely, younger audiences seem more invested in TNF compared to past seasons. That’s surely a positive sign for both the sporting event and advertisers.

Gambling Adverts Experiencing Massive Rise – But Not Everyone Is Making Money

Friedman noted that not all networks were able to make some money on the increased spending on sports betting ads.

Fox is one such example. The brand earned around $24 million on online sports betting ads for American football in 2022. By contrast, it earned “only” $10.7 million in 2023. NBC’s profit of $20.2 million in 2022 also decreased to $12.4 million in 2023. Finally, ESPN’s profits plummeted from $10.2 million in 2022 to $6.22 million in 2023.

Nonetheless, the overall US market numbers totalled around $55 billion in annual gambling revenue in 2022. The figure sets a record despite the disappointing reports from some brands.

Consequently, gambling adverts increased their investments by 40% compared to 2021. The final numbers for 2023 are yet to be released. In any case, experts suggest the total could go from $866 million in 2022 to an impressive $1 billion in 2023.