Pennsylvania sports betting hasn’t actually hit yet, but the potential returns on legalized sports betting in PA – and beyond – are already staggering.
So staggering, in fact, that just the possibility of it has drawn the attention of some seriously heavy-hitters.
Major League Baseball.
The National Basketball Association.
And … Allen Iverson?
Yep. You read that right. The book on Pennsylvania sports betting, and legalized sports betting in general, is so promising that even The Answer wants in on the deal.
Sports betting in the billions
$4.2 billion, to be exact.
That’s the estimation from the American Gaming Association (AGA), when it comes to just how much the four major sports leagues are estimated to earn once sports betting is legalized in PA and across the country.
The MLB and NBA alone are expected to rake in somewhere in the vicinity of $1.7 billion.
That’s a lot of dough.
A new Nielsen Sports study commissioned by the AGA estimates that MLB revenues may jump $1.1 billion, while the NBA can expect a slightly more modest, but no less astounding, $585 million bump.
The study is intended to analyze revenue streams that legal sports betting could generate for both leagues.
Included in that is:
- Revenue as a result of spending from betting operators on advertising, data, and sponsorship, and
- Revenue generated as a result of increased consumption of the leagues’ media and products.
Leagues profit does not include piece of the action itself
Put it together and it sure sounds like the already uber-rich are about to get even richer.
“The four major sports leagues will earn a collective $4.2 billion from widely available legal sports betting, further proving that working together with the gaming industry will pay dividends for all sports stakeholders,” said Sara Slane, senior vice president of public affairs for the AGA. “Legal sports betting will also create substantial opportunities for state and local economies, generating tax revenue, jobs and supporting small businesses across the country.”
Nielsen Sports’ estimations have the NFL looking at about $2.3 billion in added revenue. Meanwhile, the always-modest NHL brings up the rear in their projections with an estimated $216 million in projected revenue additions.
The Answer has the answer
Iverson, the longtime Philadelphia 76er, Philly sports idol, and NBA Hall-of-Famer has been keeping himself busy post-NBA retirement.
That includes teaming up with Australian online bookmaker, PointsBet, to help them launch a new North American venture.
“We’re over-the-moon to work with an athlete of Allen’s caliber – when people think of AI, they think of a renegade and cultural phenomenon that was known for his flash and style on and off the court. For those reasons, we saw the partnership with Al as a perfect fit to represent the PointsBet brand,” PointsBet US CEO Johnny Aitken said as part of a press release announcing the move.
“Our forthcoming commercials show that Allen is ‘The Answer’ for more than just basketball.”
The Answer indeed. At least when it comes to sports betting. Though the way things are trending, it certainly seems PA sports bettors will have plenty of potential answers when it comes to where to place a bet. So far, PointsBet is not one of them.
PointsBet offering $1 million contest
“If you’re looking for an emerging, high-tech brand that knows what it’s doing and is cool, don’t sleep on PointsBet” said Iverson, “these guys just get it.”
And what is it that they get?
Things right, apparently.
PointsBet’s calling card is accuracy. The more accurate your bet, the more money you can win.
They also get the Pennsylvania sports market and AI’s permanent place as a PA sports legend.
Along with offering 24/7 online bookmaking, PointsBet and Iverson are introducing a $1 Million NBA Sweepstakes competition that started Oct. 8. All fans have to do is pick the top 8 seeds in each conference in the correct order.
The Answer’s also set to star in a series of ad spots in which he’ll be, yep, you guessed it, answering all the marketing questions PointsBet could have.
So where does PA sports betting stand now?
Penn National, the owner of Hollywood Casino York, was actually the first PA entity to apply for a sports betting license.
And Parx, in anticipation of their license acquisition, already has the sports betting section of their website up and running. However, you can’t yet place any wagers.
Add Iverson’s commitment to PointsBet and it sure sounds like there’s plenty of potential revenue to go around for anyone and everyone involved in sports betting.