Despite the level of demand seen for US sports betting since live sport returned, the market is lagging behind early year forecasts, according to a Bet.Works executive.
The coronavirus pandemic caused chaos to the sporting calendar in March, which led to a pent-up demand for sports betting and an impressive recovery in the second half of the year.
All four major leagues – Major League Baseball (MLB), National Basketball Association (NBA), National Hockey League (NHL) and the National Football League (NFL) – all took place on the same date, 10 September, for the first time, helping New Jersey post the country’s highest-ever monthly sports betting handle of $748.5m for September.
However, figures from the American Gaming Association (AGA) showed sports betting gross gaming revenue (GGR) for the second quarter of 2020 dropped 46% year-on-year down to $64.2m.
Jay Rood, chief risk officer for US sports betting and online gaming supplier Bet.Works, believes the market is not in a better place than a year ago due to the absence of college sports, but the years ahead could see significant growth.
Rood told Gambling Insider: “2020 has been a better than average year despite COVID-19 and the initial cancellation of all sports…
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