More people than ever expected to bet on Summer Olympics after U.S. legal gambling boom
Sportsbooks and daily fantasy operators are preparing for a Summer Olympics bump.
Sportsbooks and daily fantasy operators are preparing for a Summer Olympics bump.
The games in Paris, set to start July 26, will be the first to take place since legal gambling became widespread in the U.S. The gaming industry expects an increase in wagering from the previous Summer Games in Tokyo, particularly for sports like men’s and women’s basketball, soccer and tennis.
“The Olympics and gambling, for decades, have looked at each other from afar. This year we’ll see them meld together,” said Max Bichsel, North America executive vice president at Gambling.com Group.
These Olympic Games come at an opportune time for sportsbooks, during the offseasons of high-volume betting leagues like the NFL and NBA. But it remains to be seen whether they move the needle for gambling operators.
The effect could be more muted for giants FanDuel and DraftKings, which together hold about 80% of the U.S. online gambling market share, than for smaller players.
Rating: 5