Sports Poll Finds Slowed Growth for Sports Betting

In a Super Bowl week that saw record numbers for sports betting, the Seton Hall Sports Poll found a modest increase in the number of Americans who said they had placed a bet on a sporting event at some time in their lives. Among the general population, 37 percent said they had placed a bet; that number was 34 percent in 2023 and 28 percent in 2022. For self-described sports fans, 49 percent said they had placed a bet at some time in their lives; in 2023 that number was 48 percent and in 2022 it was 41 percent. 

Have you ever placed a bet on a sporting event?

"As might be expected from a somewhat maturing market, the rate of customer growth seems to have slowed," said Seton Hall Professor Charles Grantham, director of the Center for Sport Management. "If the industry is unable to rely on new customers for continued growth, it will need to do everything it can to leverage its existing customer base."

These were among the findings of a Seton Hall Sports Poll conducted February 1-5 among 1,523 adults across the country. The poll, which is sponsored by Seton Hall University’s Stillman School of Business featured a national representative sample from YouGov weighted on U.S. Census Bureau figures for gender, age, ethnicity, education, income and geography and has a margin of error of +/- 3.0 percent.

A closer look at the numbers shows that the growth in sports betting is coming from sports fans and those who describe themselves as "avid fans." Of those who said they had placed a bet on a sporting event at some time in their lives, 48 percent said they had placed a bet in the last six months. In 2023 that number was 49 percent; in 2022 it was 42 percent. 

For sports fans, among those who said they had placed a bet on a sporting event at some time in their lives, 55 percent had placed a bet in the last six months. In 2023 that number was 53 percent; in 2022 it was 48 percent. Among avid fans in 2024 the number was a whopping 71 percent. In 2023 it was 61 percent, in 2022 it was 63 percent. 

In the last 6 months, did you place a sports bet? 

"The widespread legalization of sports betting led to explosive growth," said Daniel Ladik, marketing professor in the Stillman School and chief methodologist to the Poll. "Like with any new industry, however, there comes a saturation point. The initial phases of a new market are akin to a land grab as the quest for new customers is paramount. In time though, the Pareto Principle applies: 80 percent of a firm’s revenue is a function of 20 percent of its heaviest users."

Advertising Overkill?

As the sports betting industry seeks more customers and greater spending from its current customers, it has over-advertised its product according to 47 percent of the general population; that number was 42 percent last year. 

Among sports fans and avid fans the number of those who say there are too many betting related ads shown during sporting events is higher. Among sports fans, 57 percent say there is too much; that number was 52 percent in 2023. 

Among avid fans the number is even greater and registers at 60 percent this year for too much sports betting advertising; that remains constant, however, from 2023.

There are too many sports betting related ads shown during sporting events.

Children Impacted?

Of those queried, 57 percent of the general population say that sports betting advertisements improperly expose minors to gambling; in 2023 the number was five points lower at 52 percent.

Among sports fans, 61 percent say the advertising improperly exposes children to gambling; that number was 56 percent last year.

Among avid sports fans 58 percent agree that children are improperly exposed to gambling through advertising; last year the number was greater at 60 percent.

Sports betting advertisements improperly expose minors to gambling.

Federal Ban on Sports Betting Advertising?

A bill before Congress seeks to ban sports betting advertising on airwaves (cable, television, radio, etc.) and mobile devices. Asked whether they agreed with this bill, 45 percent of the general population said yes. Just 19 percent did not agree (remainder neither agreed nor disagreed). Among sports fans the number who agreed with the proposed federal ban was even greater at 49 percent. Just 21 percent of sports fans disagreed with the ban. Among avid fans the number jumps to 53 percent who agree with the ban, but those who disagree also moves up to 25 percent, though still maintaining a greater than 2 to 1 margin in favor of the ban.

Do you agree with the bill before Congress that seeks to ban "sports betting advertisements from our airwaves and our mobile devices."

Questions, breakdowns and additional charts can be found in an online version of this release.

About the Poll

The Seton Hall Sports Poll, conducted regularly since 2006, is performed by the Sharkey Institute within the Stillman School of Business. This poll was conducted online by YouGov Plc. using a national representative sample weighted according to gender, age, ethnicity, education, income and geography, based on U.S. Census Bureau figures. Respondents were selected from YouGov’s opt-in panel to be representative of all U.S residents. This poll release conforms to the Standards of Disclosure of the National Council on Public Polls. The Seton Hall Sports Poll has been chosen for inclusion in iPoll by Cornell’s Roper Center for Public Opinion Research and its findings have been published everywhere from The Wall Street Journal, USA Today, ESPN, The New York Times, Washington Post, AP, and Reuters to CNBC, NPR, Yahoo Finance, Fox News and many points in between. 

Categories: Athletics, Business