$216 Million In Revenue – Legalized Sports Betting For NFL?

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A new Nielsen Sports study commissioned by the American Gaming Association (AGA) revealed the National Hockey League’s (NHL) annual revenue may increase by $216 million annually due to legal and regulated sports betting. “Today’s announcement reaffirms that legal, regulated sports betting will create significant new revenue opportunities for sports leagues,” said Sara Slane, senior vice president of public affairs for the American Gaming Association (AGA). “Much like the NHL’s recent successful expansion into Las Vegas, legal sports betting will continue to expand across the country, bringing with it a $216 million opportunity for the league.”

nhl legal bettingThe study discloses the NHL could generate new revenue from betting operators on advertising, data, and sponsorships. But also as increased consumption of the league’s media and products, said AGA in its recent newsletter. Nielsen Sports surveyed more than 1,000 adult sports fans – including NHL fans – and self-proclaimed sports bettors. The idea of the study is to identify how legal sports betting markets would affect the sports consumption behaviors of non-bettors, casual bettors and regular bettors.

The Vegas Golden Knights are pioneers for the industry after landing a sponsorship deal with William Hill US last month. “We hope people will be sitting at T-Mobile [Arena] and betting between periods. Frankly, we know they do that already. We’re hoping to be able to get more people to our site because the brand will be right there in front of them”, said Joe Asher, the chief executive officer of William Hill US.

The New Jersey Devils also share the same vision and are set to announce a deal with major sports betting entity soon. “We see sports betting as an additive to the experience for our fans,” said team President Hugh Weber said in an interview with Bloomberg TV. “There’s a lot on the horizon.” Both the Knights and the Devils benefit from the fact that Nevada and New Jersey are two of the six states with legalized sports betting activities.

The NFL Still Reluctant To Embrace Sports Betting

With the NHL and the NBA leading the way, the only question is what’s the NFL waiting to put his hands in the cookie jar. The study also showed the National Football League (NFL) should be set to grow by $2.3 billion a year. The league still has its doubts. “So much time has been spent on talk over integrity fees. We think these numbers are conservative and show that the league is frankly tripping over dollars to pick up pennies”, added Sara Slane of the American Gaming Association.

Delaware might just be the case the NFL needs to make its point. The Delaware Lottery reported that it took just under $17 million in sportsbook bets from August to September. That’s right around the period College Football and the NFL kick in. Those numbers doubled the sports wagers handled by the state in the previous month.

Alonzo Solano

Lonzo is a Sports Analyst who has covered College Football and NFL odds for SafestBettingSites but don’t be surprised if you read him on any other sport. He’s a gaming analyst looking for winners every weekend.

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