• Loading stock data...
Thursday, March 28, 2024
2024 Best Venues nominations are open now through April 8! Submit Now

JPMorgan: Sports Betting Poised for Huge Growth

  • JPMorgan issued a 33-page report on the growth of sports betting over the next five years.
  • The world's largest bank predicts a sixfold increase in sector revenue by 2025.
Kevin R. Wexler-NorthJersey.com

The world’s largest bank thinks the recent rise of sports betting only marks the beginning of what will be massive growth for the market.

The nascent industry, which brought in an estimated $1.5 billion in revenue in 2020, will balloon to $9.2 billion in revenue by 2025, according to a new 33-page report from JPMorgan.

The growth presents a huge opportunity for U.S. media companies in particular. “Media networks are only scratching the surface when it comes to the value they can drive for betting platforms,” the analysts wrote.

Even so, there has already been significant movement concerning the convergence of sports betting and media.

  • In January 2020, Penn National Gaming announced a $163 million investment in Barstool Sports for a 36% equity stake, with warrants that, if exercised, would give Penn majority control after three years.
  • PointsBet became the exclusive betting partner for NBC Sports in August in a five-year deal worth approximately $500 million.
  • Streaming service FuboTV acquired gaming company Vigtory last month. Fubo expects to launch a sportsbook by the end of this year, leveraging Vigtory’s technology to integrate betting into broadcasts.
  • BetMGM signed a deal with The Athletic last month making it the sports media company’s exclusive gambling partner in the U.S.

Sports betting has been legalized in 25 states, with all but five presently running operations.

The three most populous states, California, Texas, and Florida — which have a combined population of around 90 million — have all yet to legalize, but legislation that would do so has been proposed in each.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

The NFLPA Report Card Is Doing Exactly What It Was Intended For

Robert Kraft hasn’t gone to school in nearly 60 years, but on Tuesday the Patriots’ owner found himself talking about his report card. 

How Lack of Planning by NCAA, Gonzaga Led to Racial Abuse of Utah Athletes

The NCAA gave Gonzaga a waiver to place teams in an extremist hotbed.

NCAA President Calls for Nationwide Ban on College Prop Bets

The NCAA president is reacting to the recent betting turmoil in sports.

It Remains Unclear Which Authorities Shohei Ohtani Has Reported Theft of Millions to, If Any

A federal investigation is ongoing, but it’s not clear what it covers.
podcast thumbnail mobile
Front Office Sports Today

MLB Opens Season With MLBPA, Ohtani, and Ownership Dramas

0:00
0:00

Featured Today

March 22, 2024, Brooklyn, NY, USA; Northwestern Wildcats guard Brooks Barnhizer (13) and Northwestern Wildcats guard Boo Buie (0) react in overtime against the Florida Atlantic Owls in the first round of the 2024 NCAA Tournament at the Barclays Center.
March 27, 2024

‘An Expensive Game’: March Madness and NIL Collectives Are Intertwined

At schools nationwide, collectives are fueling NCAA tournament runs and vice versa.
Iowa’s Caitlin Clark (22) waits to be announced in the starting lineup against West Virginia in a NCAA Tournament round of 32 game Monday, March 25, 2024 at Carver-Hawkeye Arena in Iowa City, Iowa.
March 26, 2024

The Women’s Trading Card Market Is Overlooked. Can Caitlin Clark Change That?

Traditionally, women’s sports cards have been a marginal part of collectibles.
The Sports Illustrated cover signed by Derek Jeter and Alex Rodriguez, February 27, 2019, at Don & Charlie's, 7501 E. Camelback Road, Scottsdale. Don Charlie S
March 24, 2024

Everything You Need to Know About the Ongoing ‘Sports Illustrated’ Saga

Understanding the strange state of affairs for the nearly 70-year-old publication.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Live Nation
Multiple - USA Careers
Adidas
Multiple - USA Careers
Spotify
Multiple - USA Careers

NCAA Wants to End Prop Betting on College Sports. Will It Succeed?

The announcement comes just days after the NBA began investigating a prop scandal.
March 26, 2024

NBA Investigating Raptors Center Jontay Porter Over Suspicious Prop Bets

The league is looking into ‘multiple instances of betting irregularities’ in recent months, ESPN reported.
March 26, 2024

Grading Ohtani’s Explanation: ‘I Would Give It an A’

A crisis management expert gives his reaction to Front Office Sports.
Sponsored

How Daily Fantasy Sports Solved NBA Fantasy

The remarkable growth of the #1 Discord sports server in the world.
March 25, 2024

Ohtani Emphatically Denies Any Knowledge of Translator’s Gambling

The MLB superstar insists his former translator has engaged in ‘theft and fraud.’
March 25, 2024

Ohtani Will Address Betting Situation. Will He Provide Clarity?

MLB said an investigation into the betting scandal is underway,
March 22, 2024

The Gambling Scandals Are Only Beginning

What is coming next after Shohei Ohtani is so much worse.
March 22, 2024

Bookie at Center of Ohtani Scandal Reportedly Encouraged Belief Star Was a Client

Mathew Bowyer is said to have allowed customers to think Ohtani bet with him, to boost business.