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Sports have always been a popular form of entertainment for people across the globe. Fan’s craziness for their beloved sports stars, and their loyalty toward their favourite teams make sports a lucrative industry for investors.
But things may not be that great for the sports media business. With the ever-increasing cost to buy media rights and an ageing audience, the sports business has to deal with its challenges.
That said, broadcasters and publishers in the sports media industry have turned towards betting content and have started accepting ads from bookmakers to keep up with the changes. Here’s a look at how betting is transforming the sports betting industry.
Rising appetite for sports consumption among sports bettors
While the UK permits legalised gambling in the country for a long time, it wasn’t until 2018 that the federal ban on gambling in the United States was lifted. The removal of the ban meant that broadcasters in the US could now work with casino operators and sports bookmakers.
The 2018 decision has turned out to be a win-win situation for both parties. The media industry is now eyeing increased revenue by showing betting ads, and bookmakers now have a new way to reach their target audience.
With that, the appetite for sports consumption among bettors has also increased. According to a report by Nielsen Sports, bettors now consume two times more sports coverage than non-bettors. This, in turn, means that publishers have now shifted their focus on content covering topics like Online Betting, players’ current form and betting stats.
The advent of a new sponsorship category
With betting now being legalised in several parts of the world, the sporting world is seeing the advent of a new type of sponsorship category – the bookmakers’ category. While the change isn’t being embraced by every member of the sporting world – such as financial sponsors not wanting to work with sportsbooks, leagues and teams would likely experience an increase in revenue with the addition of a new sponsorship category.
Shortly, it would be interesting to see how leagues and teams decide to work with bookmakers. Several US sports leagues have shown interest in being a part of the action, though a few international sports associations have placed a ban on such sponsorships. Nevertheless, if leagues experience increased resistance from existing sponsors, they may need to give a second thought to their gambling sponsorships.
Sports reporting to offer more personalised betting content
With the legalisation of betting in several markets, sports fans now wager on their favourite players and teams as a way to show support. With that, many of them now get heavily invested in the game and its outcomes. They are very likely to follow and wager on these games regularly. And this is where the need for offering more personalised content occurs.
Shortly, we can expect to see the sports reporting world offering more personalised content to increase engagement and deliver stories that are relevant to their viewers.
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