Skip to content

Betting on Sports Consumer Engagement

Rich Potential

According to Grand Valley Research, the global sports betting market reached $83.65 billion in 2022 and is expected to expand at a compound annual growth rate of 10.3% from 2023 to 2030, with the demand driven by major shifts in the regulatory landscape, the penetration of connected devices and developing digital infrastructure.

In the blog post “Live Sports Insights,” All Things Insights’ Seth Adler spoke with Mitch Rosen, VP BetQL Network, Director of Operations and Brand Manager, The Score, The Fan, Audacy, about the evolution of the sector and how sports streaming has emerged as the rapidly expanding business it is today, plus the various opportunities associated with that growth.

Rosen says live sports and streaming, although growing before the pandemic, took off during the heights of COVID-19 restrictions on movement and gatherings. For example, Major League Baseball, he says, particularly drove the development both as a sport and in the case of individual teams.

Although sports such as baseball, basketball and football may lead in terms of content and betting, Rosen points out that a lot of next-tier sports have their passionate followers who want to know more about the players, follow the games and bet on the competition. As such, tennis, golf and Olympic sports are growing in “major ways” Rosen says.

The assumption that it’s overwhelmingly men involved with streaming sports is erroneous, adds Rosen. Today, women are engaging in sports streaming significantly and are an audience that should be considered.

Engagement and interaction are important tactics to consider. Gambling and pastimes such as fantasy sports are ways for people across the country who aren’t athletes or otherwise part of the sports world to engage and interact with their favorite teams, players and specific sports.

The Rise of Wagertainment

Wagering is a more substantial way consumers engage and interact with sports. Sports betting is legal in 22 states today, so people can easily bet where it’s legal without finding someone to gamble with, whether privately or covertly in the case of a bookie. Many times, they can do so sitting on their couch at home by using their smartphones. Gambling platforms have created any number of ways to bet, which makes something that once had to be planned out an anytime occurrence given the different kinds of wagers that people can make today even while a game is underway.

It’s easy to get fixated on gambling, which often is the central act. Yet, wagering is now only part of a larger show. Audacy characterizes what has emerged today in and around sports and betting as wagertainment. It has developed BetQL as an online vehicle to revolutionize how fans enjoy their sport of choice. BetQL goes beyond standard content such as predictions and forecasts. A growing dedicated audience for online sports interaction can be found on any number of sports networks, but BetQL offers not just information but, critically, insights. Rather than being instructed on how to bet by some broadcaster, consumers want access to the same kind of information the people covering the games from the broadcast booths have. For BetQL, the presentation is meant to engage and entertain people in and of itself. In advancing its initiative, the company partnered with BetMGM to create a nationwide network including over the air radio stations and an audio and video app and so has become a nationwide content provider. The main show that anchors the initiative is “You Better You Bet” on the app and via the radio stations. The BetQL audience builds a relationship with its hosts and a sense of trust, Rosen says.

Consumers want information, engagement, interaction, data and analytics, Rosen asserts. The more people get involved the more they become like stock market aficionados, who use multiple sources of information as they invest their money.

The development of content is ongoing. As streaming sports has grown, including sites associated with gambling and fantasy football, and web content generated by everyone from gambling sites to ESPN to Yahoo, opportunities arise and developing insights into the channel will be key to sector growth going forward as marketers work to expand the audience.

Forward growth is likely to continue, Grand Valley Research suggests. The market researcher also sees COVID-19 as advancing the sector’s growth. Still, gains in e-sports accessibility or, from the opposite perspective, content, helped momentum build as well. In addition, increased use of smartphones has led to the wide availability and accessibility of sports betting, further propelling the global market.

Online platforms led the sports betting market in terms of channel in 2022, and Grand Valley reported that expectations are for the segment to generate a CAGR of more than 12% and maintain its dominance over the forecast period.

Keeping the Consumer Engaged

Business services firm Deloitte has actually characterized the current period as the “golden age” of sports content. More conspicuous examples of how quickly the development of streaming sports is occurring include Amazon’s paying $1 billion per season to stream NFL “Thursday Night Football” as well as “Friday Night Baseball” and Major League Soccer deals cut by the Apple TV+ streaming video service. In addition, an HBO Max pact gave the streamer rights to U.S. women’s and men’s national soccer team matches.

Deloitte conducted a consumer survey among 500 U.S. respondents, with 319 being sports fans. Of those identifying themselves as sports fans, 53% said they paid for a streaming video service to access sports content over the past year. But fans had some frustrations with their streaming services that, Deloitte warned, could reduce engagement levels. Just about half felt they had too many subscriptions, 62% were frustrated by difficulties finding content, and 54% reported missing events.

Under the circumstances, streaming sports content, betting included, could benefit particularly from insights into the sector and the consumers who are interacting with it.

The Media Insights & Engagement Conference will be held January 23-25, 2024, in Miami, FL.

Contributor

  • Seth Adler

    Seth Adler heads up All Things Insights & All Things Innovation. He has spent his career bringing people together around content. He has a dynamic background producing events, podcasts, video, and the written word.

    View all posts

Related Content

Powering Subscriber Acquisition

The streaming business is a fluid, changing landscape. To gain some insights into the category, All Things Insights’ Seth Adler spoke with Beau Decker…

 
 

More Related Content

A surface of cubes with a variety of rising cubes, one stands out in a different color.
artificial intelligence

Leveraging AI in B2B Respondent Insights

In the B2B marketing landscape, artificial intelligence has shown great potential. It is becoming an essential and advantageous tool, a tool which no…

boxing glove punching
media insights

Powering Subscriber Acquisition

The streaming business is a fluid, changing landscape. To gain some insights into the category, All Things Insights’ Seth Adler spoke with Beau Decker…

metaverse, woman with virtual reality headset
immersive content

Developing Immersive Content Opportunities

All Things Insights’ Seth Adler had the opportunity to chat with Shenaika Davis, Customer Insights Content Producer at Meta, at the recent Media Insig…

playing the Jenga block game
media measurement

Building a Marketing Mix Framework

Suraj Rajdev, Head of Analytics at Google, sat down with All Things Insights’ Seth Adler to discuss his session at the Media Insights & Engagement Con…

interior design on mobile phone
consumer trends

Focusing On an Augmented Reality Strategy

Augmented Reality is here. But are consumers and advertisers embracing it with open arms? Aarti Bhaskaran, Global Head of Ad Research & Insights at Sn…

Gold bars
media content

Determining the Value of Business Content

Michael Bagalman, Vice President, Business Intelligence and Data Science, STARZ, gave a presentation at the Media Insights & Engagement Conference, ca…

media insights

Connecting with Generation Alpha

At the recent Media Insights & Engagement Conference, Seth Adler had a chance to chat with Alexander Cammy, Manager, Insights & Cultural Intelligence…

actionable insights

Building the Analytics & Insights Ecosystem

The recent TMRE Continued virtual event hosted a session, “Blending Analytics & Insights to Drive Business Outcomes.” Moderated by All Things Insights…

data science

Operationalizing a Hybrid Approach to AI

In “Insights + AI: Operationalizing A Hybrid Approach,” Christina Speck, Vice President, Corporate Strategy & Commercial Product, Blue Cross & Blue Sh…

media insights

Exploring User Community Perceptions of AI

Max Wartel, Director of Consumer Insights, Fandom, held an AI-related session at TMRE, which focused on the perceptions of AI in a user-generated comm…

artificial intelligence

Leading Insights Through Change

Elizabeth Oates, Vice President, Consumer Insights, Ulta Beauty, spoke at TMRE at two sessions: “Leading High-Performance Insights Teams Through Chang…

consumer insights

The Evolution of Building an Insights Team

Josh Goldfinch, Director Customer Insights, Verizon, participated in a panel at TMRE focused on “Building an Insights Function from the Ground Up.” Al…

user engagement

Getting Social to Measure User Engagement

Social media is changing in sometimes complex ways as featured content generated by users in a private capacity has often been supplemented and perhap…

marketing insights

Piecing Together the Attribution Puzzle

During the “Beyond Media Measurement” session of the Road to TMRE Gathering, Seth Adler discussed “Attribution” with guests Doug Healy, Senior Directo…

media measurement

Unlocking Blockchain for the Enterprise System

During the “Beyond Media Measurement” session of the Road to TMRE Gathering, Seth Adler discussed “Building Trust In The Media Ecosystem: What We’ve L…

attention metrics

Taking New Approaches to Attention Metrics

All Things Insights recently held the Road to TMRE virtual Gathering, featuring three days packed with informative presentations to get insights profe…

consumer insights

Winning the Future of Fandom

All Things Insights’ Seth Adler recently connected with Christina Speck, former VP Corp. Strategy, Blue Cross & Blue Shield of Rhode Island, at this y…

retail

Zeroing in on DIY Research

All Things Insights’ Seth Adler recently connected with Bill Trovinger, Consumer Insights Dir., Pharmacy & Health, Albertson’s Companies. Adler and Tr…

omnichannel

Building Insights for the Home Consumer

All Things Insights’ Seth Adler recently caught up with Daniella Tsoncheva, Director Consumer Insights, The Home Depot. The retail market over the las…

actionable insights

Elusive Insights

Insights are being generated but in some cases are not being used. The first assumption is that these insights aren’t actionable. Which of course migh…

snapchat

Attention Metrics: User Engagement

All Things Insights’ Seth Adler caught up with Aarti Bhaskaran, Global Head of Ad Research & Insights, Snap Inc., at the Media Insights & Engagement C…

consumer trends

A Changing Consumer Shapes Media Evolution

All Things Insights’ Seth Adler caught up with Edwin Wong, SVP Insights & Innovation, Vox Media, at the Media Insights & Engagement Conference earlier…

media insights

Redefining the Home Experience

All Things Insights’ Seth Adler caught up with David Schliecker, Group VP, HGTV Insights and Strategy, Warner Bros. Discovery, at the Media Insights &…

television audience measurement

Measuring OTA Programming

Television audience measurement is on the precipice of innovation due to the opportunity to leverage data from set top boxes, smart TV’s, and other so…

consumer insights

Collaboration Around The Consumer

The consumer is now in the driver’s seat, and James Petretti is no stranger to that fact. Success is not possible if the consumer is not buying into w…

consumer insights

Fan Insights

Thanks to the advent of social media and streaming services, the world of television today looks nothing like it did a few decades ago. All industries…

media insights

Live Sports Insights

Programming across the board is looking to develop content that appeals to an audience that engages increasingly with user-generated content (UGC) and…

streaming services

Content Marketing Insights

In the past decade, SVOD (Subscription Video-On-Demand) companies have revolutionized how we consume our favorite shows and discover new ones. As medi…

media insights

Media Behavioral Insights

Analytical minds will always benefit from more complete data from farther-reaching sources. Even more fundamentally, Pepe says the questions everyone…

industry insights

Media Industry Insights

It’s not unreasonable to feel overwhelmed when faced with the size and scope of the continuous shifts in the television industry within the past few d…

consumer insights

Path To Purchase Insights

Insights leaders are responsible for connecting all of the information gleaned from a multitude of different sources, and creating usable data that wi…

media insights

Media Insights Report

The All Things Insights Media Insights community completed an extensive survey covering what folks are thinking, how they’re spending and the issues t…

media insights

2023 Outlook

Known uncertainty. We enter 2023 with some of the most known uncertainty of our lives. Going into 2019- certainty. Going into 2020- certainty-albeit m…

consumer insights

Ripple Effects on Insights

For many of us the pandemic brought along with it a series of impactful changes that honestly, none of us could have predicted. Everything regarding w…

technology

Media Past Is Media Prologue

“Whatever the modern technology of the day, it was a force for disruption, it was a force for change, and it was a force for enchantment, joy, and lea…

media insights

Representative Insights

A great story starts with a single word. From there, the story is subject to its characters, plots, and the conflict presented by the content, all of…

advertising

Super Insights

Talking with Peter Leimbach, Senior Vice President, Ad Sales Research at FOX Sports, it’s clear that pro football teams aren’t the only ones competing…

consumer insights

Gen Z Insights

“Ultimately Gen Z demands a new media plan. The previous ways of thinking in terms of length being a precursor of the efficacy of advertising content…

streaming services

Streaming Insights

As 2022 continues, Chris Whitely, Senior Director of Product Management at Comcast, says that the big subscription-based streaming services have seen…

insights

20 Quotes On Risk, Truth, Wealth And More

Dan Runcie, Founder, Trapital sat down with Percy ‘Master P’ Miller at the most recent TMRE. The discussion focused on how Miller’s background provide…

media insights

Measurement, Currency and Attribution

Keeping pace with innovation is always a challenge. The Media industry not only has to keep pace with that innovation, many players have offerings tha…

consumer insights

The State of the Consumer (2022)

eBook by Remesh | 21 Apr 2022 About This Report 2021 has been a transformative year for every industry and organization in the world; from more perman…

insights strategy

A Contemporary Insights Organization

We are in the process of experiencing the second paradigm shift of human behavior in just a three year period. For a prepared organization, this is a…