The National Football League’s revenues are apparently set to soar by more than $2.3 billion per year thanks to the recently legalization and regulation of sports betting countrywide
. The news comes according to a recent Nielsen Sports study, which was commissioned by the American Gaming Association.
It was earlier this year when the state of New Jersey took to the Supreme Court to fight the battle for the legalization of sports betting – and the ability of each US state to regulate their own betting market as they see fit. After a long-winded court case, the Supreme Court abolished the outdated PASPA Act of 1992, essentially legalizing the pastime across the nation for the first time ever.
Several Potential Revenue Streams
The study highlights several potential revenue streams for American football that would stem from legalized betting services. They include increased advertising opportunities, more sponsorship deals, and a rise in the consumption of NFL products and media through approved channels.
According to the study, the bulk of the expected revenues will come from consumption of the sports league’s products, including its sponsorship, media rights, ticket sales, and branded merchandise. Further revenues to the tune of $451 million could also be earned through operators’ spend on advertising, not to mention another $30 million from data and $92 million from sponsorships.
Nielsen Sports reportedly surveyed over 1,000 adult sports fans from across the US, as well as numerous ‘self-identified sports bettors’, to gain their recent data on the NFL’s anticipated rise in earnings. Many other similar studies have revealed the same great news as well, predicting massive revenue rises for sports leagues and bookmakers alike in the wake of the PASPA repeal.
NFL Will Claim the Lion’s Share
Commenting on the findings, AGA Senior Vice President of Public Affairs Sara Slane noted that legalized, regulated sports betting will generate massive new revenue-earning opportunities for sports leagues. In her eyes, the NFL could also be set to enjoy the lion’s share of these opportunities, being America’s largest and most successful league of its kind.
Consisting of 32 professional teams, the National Football League ranks first in the world among professional sports leagues by revenues, earning around CA$16.42 billion per annum
. The organisation includes subsidiaries such as the NFL Network and the National Football Conference, and is currently headed up by Commissioner Roger Goodell.