Over this time there has been a wholesale reshaping of the US gaming sector, with mobile betting racing across multiple states, and a pandemic arguably accelerating rather than slowing its spread.
What next for the market?
It’s against this backdrop that H2 Gambling Capital, in partnership with iGB, is looking at what’s next. As the pace of new state launches slows, where is growth coming from?
For a sector in which a small cohort of brands tend to occupy podium positions in each state, there is there is perhaps more scope for upheaval than many would think. Over time, as markets such as the UK, Australia and Italy show, dynamics – and market leaders – can be knocked off their perch.
Generating higher returns from US betting
There’s also significant potential for growth in existing markets. Bonusing may be skewing gross win figures, and greater adoption of in-play wagering (or its rapid-fire cousin, microbetting) may allow operators to drive higher returns, and market share, from maturing states.
This, of course, will be complemented by major new states – in 2023, H2 predicts that 20% of new gross win will come from just two: Massachusetts and Ohio.
A $23.2bn market by 2030
When H2 produced its first sports betting white paper with iGB back in 2019, we looked at what the US market might look like in 2030. Thanks to a period of rapid acceleration in the four years since our inaugural report, our projection for US sports betting gross win is now $23.2bn by that year.
For a market that exceeds expectations, there’s still plenty more to come.
H2 Gambling Capital is widely recognised as the leading authority regarding market data and intelligence on the global gambling industry. Our team of analysts have been tracking the value of the sector since 2000. The intelligence generated by H2’s industry forecasting model has become by far the most quoted source regarding the sector in published company reports, transaction documentation and sell-side analysts’ notes, as well as in the trade/business media. The H2 Subscription service is used by the vast majority of the sector’s operators and suppliers; its major financial institutions, governments and regulators; and also, its media outlets in their benchmarking of performance to shareholders. H2 North America is a new subscription service to cater for those specifically focused on the North American market. H2 North America offers detailed data going back to 2003 / forecasts going out to 2027 on all aspects of the land-based and online gambling market, including detailed by-state monthly market share of the sports betting / igaming market, and financial models / news flow of over 80 companies across the gambling space. This new product also includes monthly and quarterly reports specifically focused on the North American sports betting and igaming market.
H2 is the lead data partner of Clarion Gaming and iGB.