Looking at the legal sports betting market in the United States post-PASPA era, it is essential to understand that the demographic of people who bet on sports is changing.
In the past, sports betting was associated with young men searching for a thrill and a chance to bet on their favorite teams. However, if you look at the recent gambling news, data suggests that the narrative is being disrupted, and other groups, such as women and older consumers, are also increasingly relevant to the sports betting space.
Here are the facts about American sports bettors that will help you to understand the shifting landscape.
The Traditional Core: Men under 50 years
It is not surprising that the core of the U. S. sportsbook customers is made up of men below the age of 50 years. Data from surveys over the past few years of newly regulated sports betting markets broadly aligns with that traditional characterization and the majority of gambling news and promotions are aimed at them.
This is because the typical sports betting customer is a young male, consistent with the “frat house mentality” that has plagued the industry for years, where betting with friends or at the office pools has been a tradition.
A New Generation of Women Sports Followers and Gamblers
However, as major professional sports leagues have mainly focused on expanding the fan base of women, the sportsbooks have woken up to the market. These include targeted marketing, convenient online/mobile account access, and an extensive array of betting options beyond traditional sports, especially the predominantly male-oriented ones, making sports betting more attractive and inclusive for women.
Research indicates a steady upswing in female sports betting participation, albeit still a distinct minority compared to their male counterparts.
Growth amongst women has been most apparent in sports that are either less biased towards male athletes or those more inclined towards female athletes, such as tennis. According to the betting statistics of the corresponding sport, 40% of the Grand Slam tennis tournament players are women.
The Appeal to Older Age Demographics
It has been known for quite some time that the concept of sports betting appeals mainly to the youth. However, as more and more forms of legal betting are approved and more people accept this type of activity, middle-aged and older people are more likely to engage in sports betting.
This segment could grow as sports bookmakers take more concrete steps to appeal to the more mature audience through less complicated lines, promotions, and betting tutorials.
Although there is a tendency to have more male sports bettors under 50, the overall percentage of sports bettors by gender and age is quite similar to the overall interest in sporting events. Mainstream events and competitions are known to raise overall sports betting levels, including for non-core bettors.
The Super Bowl, March Madness, and The World Cup
As one of the most significant events in sports betting, the Super Bowl attracts the most people to bet. Sportsbooks report attracting record numbers of first-time bettors and more varied demographics around the NFL’s championship game.
Another sports event that is associated with the popularity of the office pool bracket is the NCAA Men’s Basketball Tournament, which is also another peak period for betting and increased audience engagement beyond young men.
For the 2023 March Madness, it was estimated that 68 million Americans would wager $15. 5 billion across all wagering methods.
For example, the 2022 FIFA World Cup in Qatar, one of the world’s most-watched sporting events, has increased sports betting engagement with occasional fans by age, gender, and other demographic characteristics.
Online sports betting companies revealed that during the World Cup, they recorded up to 80% more bets than previous championships.
A survey conducted in 2022 revealed that the female proportion of the World Cup bettors was approximately 21%, and the age group 35–54 years constituted about 40%.
Although the young male audience remains a priority, sports betting attracts a broader customer base as legal betting opportunities extend and the public mentality evolves. The high-profile event bettors could become new regular sportsbook customers, given that fresh content and experiences cater to the various demographic preferences available.
The trends in the sports betting market are changing rapidly from the image associated with this industry as the young men’s domain. With the expansion of the legalization of betting and the subsequent integration of betting into popular culture, sportsbooks stand to gain significantly in attracting a broader demographic encompassing both genders and ages.