During the first quarter of 2021, Nielson, the television data collection company, disclosed that the US betting and iGaming industry invested a total of $153.6 million on television advertising.
There has been a significant surge in spending, amounting to a 1339.3% increase when compared to the corresponding period in 2019.
The industry allocated a total of $24.8 million towards national television ads, $6 million for network TV advertising, and $1.2 million for cable television.
The casinos that allocated the highest amount of funds towards advertising were ranked as follows:
- FanDuel has generated a revenue of $57.7 million.
- The total amount of money earned by DraftKings is $43.6 million.
- $24.9 million was earned by BetMGM.
- BetRivers, a total of $9.3 million.
- Betfair has a worth of $6.7 million.
- PokerStars has amassed an impressive sum of $5.8 million.
As more states consider legalizing online casinos, advertising in the iGaming industry plays a crucial role in establishing brand recognition. The main objective of this marketing approach is to enhance brand awareness, which proves significant in attracting potential players even before casinos officially launch in a particular state.
Local news and TV affiliate stations have a great revenue opportunity as a majority of ad spending now focuses on airing ads during news programming.
According to Nielson’s findings, the sports and media industries are experiencing a major shift towards betting ads. This presents a great growth opportunity for both local and national television. Despite gambling being restricted to certain states, advertising in this category is on the rise in the majority of the country’s 208 Designated Market Areas (DMAs). This presents a promising chance for local news organizations and advertising agencies.
