{"id":234544,"date":"2022-09-28T14:49:32","date_gmt":"2022-09-28T19:49:32","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=234544"},"modified":"2022-09-30T04:24:44","modified_gmt":"2022-09-30T09:24:44","slug":"deutsche-bank-sports-betting-outlook-practical-though-encouraging","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/deutsche-bank-sports-betting-outlook-practical-though-encouraging\/","title":{"rendered":"Deutsche Bank Bullish on US Sports Wagering Growth"},"content":{"rendered":"

In an expansive 47-page report, Deutsche Bank has sounded an optimistic tone on the state of the US regulated sports wagering market. The report forecast\u00a0August gross gaming revenue (GGR) of $510 million for domestic sportsbook operators.<\/p>\n

\"Deutsche
The sportsbook at Red Rock Resort in Las Vegas. Deutsche Bank is bullish on US sports betting. (Image: Red Rock Resort)<\/figcaption><\/figure>\n

Assuming it\u2019s accurate, that August figure is solid. That’s considering the eighth month of the year lacks NFL regular season action and offers just a smattering of college football games in what\u2019s known as week zero. The bank adds that in states that were live with sports betting for all of July and August, related GGR likely jumped 26% month-over-month due to stronger hold.<\/p>\n

There\u2019s some evidence that momentum trickled into September, as the first three weeks of the 2022 NFL campaign indicate sportsbook operators are doing well<\/a> in terms of hold.<\/strong><\/p>\n

For the states that were operational in July and August, Deutsche Bank estimates a 62% year-over-year increase in handle and a 3.7% jump in hold from the year-earlier period. Based on those projections, sports wagering revenue in those states surged 138% year-over-year.<\/p>\n

Legislative Outlook Matters<\/h2>\n

Deutsche Bank estimates that by 2027, the US sports wagering industry will generate at least $12 billion in annual revenue.<\/p>\n

That\u2019s light relative to some forecasts<\/a> bandied in the industry\u2019s go-go days of 2020. But the projection is also based on some crucial legislative assumptions.<\/p>\n

By 2027, the bank estimates 79 percent of the US adult population to have access to legalized sports betting,\u201d<\/strong> according to the bank.<\/p><\/blockquote>\n

Sports betting is live and legal in 31 states and Washington, DC, with Ohio likely to join the party in January 2023. However, not all of those states — Washington State being a prime example — allow mobile sports wagering, meaning handle and tax revenue in those jurisdictions is significantly lower than in states embracing internet sports betting.<\/p>\n

Not included in that 31 is the \u201choly trinity\u201d of California, Texas, and Florida. Deutsche Bank says it\u2019s being realistic about sports betting in the three largest states. However, there\u2019s an above-average chance what happens in the real world doesn\u2019t mesh with the bank\u2019s outlook.<\/p>\n

On Election Day, California could test<\/a> and prove that thesis. If the tribal-backed Proposition 26 wins and Prop 27 fails, the largest state in the country could be without online sports wagering for years. Some tribal leaders are open about their desires, noting they simply want to offer retail sports betting as an avenue for luring customers to land-based casinos.<\/strong><\/p>\n

As for Texas, barring surprising results on Election Day, sports betting will unlikely be a legislative priority in 2023. Florida is somewhat different because online betting was briefly allowed there before being halted by courts. But it\u2019s believed that the issue of gaming expansion in any form must be put directly to voters.<\/p>\n

Deutsche Bank Optimistic<\/h2>\n

Deutsche Bank estimates that for states that were live and legal for all of 2021, sports betting spending could notch a compound annual growth rate (CAGR) of 4.6% from 2022 through 2027.<\/p>\n

Obviously, levels of spending on sports betting vary based on income. But the bank indicates New Jersey serves as a solid forecasting template.<\/p>\n

\u201cIf New Jersey per adult spend base is ~$100, and New Jersey household income is $82K, we would assume a per adult spend of ~$50 for a state with average household income of $41K that offers mobile sports betting or mobile and retail sports betting,\u201d <\/strong>according to the bank.<\/p>\n","protected":false},"excerpt":{"rendered":"

In an expansive 47-page report, Deutsche Bank has sounded an optimistic tone on the state of the US regulated sports wagering market. The report forecast\u00a0August gross gaming revenue (GGR) of $510 million for domestic sportsbook operators. Assuming it\u2019s accurate, that August figure is solid. That’s considering the eighth month of the year lacks NFL regular […]<\/p>\n","protected":false},"author":46,"featured_media":234545,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18943,1074],"tags":[82037,80968],"acf":[],"yoast_head":"\nDeutsche Bank Sports Betting Outlook Practical, Though Encouraging<\/title>\n<meta name=\"description\" content=\"Deutsche Bank is positive on the growth of the US sports wagering industry.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deutsche Bank Sports Betting Outlook Practical, Though Encouraging\" \/>\n<meta property=\"og:description\" content=\"Deutsche Bank is positive on the growth of the US sports wagering industry.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/deutsche-bank-sports-betting-outlook-practical-though-encouraging\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-28T19:49:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-30T09:24:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/rr.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/deutsche-bank-sports-betting-outlook-practical-though-encouraging\/\",\"url\":\"https:\/\/www.casino.org\/news\/deutsche-bank-sports-betting-outlook-practical-though-encouraging\/\",\"name\":\"Deutsche Bank Sports Betting Outlook Practical, Though Encouraging\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/deutsche-bank-sports-betting-outlook-practical-though-encouraging\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/deutsche-bank-sports-betting-outlook-practical-though-encouraging\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/rr.jpg\",\"datePublished\":\"2022-09-28T19:49:32+00:00\",\"dateModified\":\"2022-09-30T09:24:44+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Deutsche Bank is positive on the growth of the US sports wagering industry.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/deutsche-bank-sports-betting-outlook-practical-though-encouraging\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/deutsche-bank-sports-betting-outlook-practical-though-encouraging\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/deutsche-bank-sports-betting-outlook-practical-though-encouraging\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/rr.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/rr.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"The sportsbook at Red Rock Resort in Las Vegas. 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