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Local Sports Betting Ad Spend: For local advertising, BIA forecasts ad spend for sports betting to reach $1.8 billion in 2022, a sizable jump of 80% from 2021. By 2024, BIA projects local ad spend for the category to total $2.9 billion. BIA’s Nicole Ovadia, says, “With New York and other larger markets making online sports betting legal this year, that has led to a significant increase in ad spending. BIA is also forecasting this vertical to grow significantly between now and 2024 when it will hit nearly $3 billion. This jump is dependent on California voting to legalize online gambling in 2023 and going live in 2024.”
In the past, bookies worked almost exclusively over the phone. Today, the Accountant uses a website originating out of Costa Rica that offers everything that can be found on legal companies’ apps and sites. “It’s the same exact up-to-date lines,” he says. The Accountant believes there are several reasons people still use him. One is that he doesn’t send customers a 1099 at the end of the year for tax purposes, like gaming companies do. Another is that he gives out gifts, like free bets, at Christmas. And he develops relationships with his bettors, so that if they can’t pay one week, he might grant them some extra time.