American sportsbetting market projected to have a bumper 2021

Home » American sportsbetting market projected to have a bumper 2021

In the United States and a prominent Bank of America analyst has reportedly predicted that aggregated 2021 revenues from sportsbetting and iGaming could well be about to increase by up to 70% year-on-year.

According to a Sunday report from Yahoo! Finance, this is the opinion of Shaun Kelley with the specialist putting the anticipated rise down to the increasing number of states that are soon expected to legalize the once-prohibited activities. The analyst purportedly detailed that the coming widespread availability of a vaccine against coronavirus may also prove to be a boon for American sportsbetting revenues by allowing for the return of a more traditional sporting calendar following last year’s widespread disruptions.

Expanding entertainment:

Kelley reportedly explained that up to 27 American states could have some form of legalized sportsbetting by the end of this year, which would easily cover approximately 49% of the nation’s population. He purportedly pronounced that Virginia and Michigan are already expected to launch sports wagering in 2021 and may soon be joined by the likes of Maine, Ohio, New York, Massachusetts, Connecticut and Georgia.

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Lingering hold-ups:

However, the analyst reportedly divulged that sportsbetting revenues may be equally disrupted in the short-term this year as action from such organizations as the National Football League (NFL), National Basketball Association (NBA) and Major League Baseball (MLB) is rescheduled or down-sized owing to the ongoing coronavirus pandemic.

Protracted resurgence:

Regarding the more traditional land-based casino and gaming markets and Kelly reportedly told Yahoo! Finance that he doesn’t expect any discernible recovery to become apparent until the second half of the year. He purportedly furthermore asserted that widespread vaccine distribution will likely serve as the catalyst for such a revival with revenues per available room in the touchstone Las Vegas market set to have risen by as much as 30% year-on-year when 2022 rolls around.

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new yorklas vegasigamingmassachusettsmichiganohioconnecticutgeorgiamainevirginiabank of americagaming revenuescoronavirusshaun kelley

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