FSGA study reveals sizable uptick in betting and fantasy sports activity
Leger research shows more than 60 million US adults bet on sports and 50 million participate in fantasy
A little over four years after the fall of PASPA and sports betting is continuing to gain steam in the US, according to a new study commissioned by the Fantasy Sports & Gaming Association (FSGA).
The research from Leger reveals that 60.2 million US adults – or nearly one in every four Americans ages 18+ – currently bet on sports, a 20% year-over-year (YOY) increase from 2021.
Fantasy sports participation has also seen an uptick, with 50.4 million American adults playing some form of season-long or daily fantasy sports (DFS). That’s up from fewer than 45 million last year.
The growing popularity of sports betting, which is now legal in more than 30 US jurisdictions, is not gender-specific either, as women now make up 34% of sports bettors – a marked increase from 20% in 2019.
“The expansion of legal sports wagering and the post-pandemic bounce back for fantasy sports is very encouraging to see,” said FSGA chair Stacie Stern. “I’m also excited to see greater diversity of participants throughout our industries.”
Once viewed as a threat to the fantasy industry, legal sports betting has in fact proven to be a complement to fantasy sports, with 41 million American adults participating in both – a 9% YOY increase. The lack of cannibalization is further underscored by the fact that 98% of sports bettors who previously played fantasy have continued to do so post-legalization.
New bettors are also entering the fray every day, particularly in the form of players converted from unregulated markets. In states with regulated sports betting, black- and gray-market participation stands at 24% – compared to 59% in non-legalized states.
In addition, the arrow is continuing to point up, evidenced by the slow emergence of in-play betting.
Of total US sports betting handle, only 31% is currently coming from in-play; a stark contrast to upwards of 70% and higher in more mature European markets.
Increased in-play adoption, combined with key states like California potentially legalizing in the coming years, shows just how much room the US market still has to grow.
The FSGA study surveyed 2,000 American adults from May 10-25, 2022.