BY Kathy Crosett
With each passing year, more states are opening the door to sports betting. What was once considered taboo is now an established industry. DraftKings, FanDuel, and BetMGM have become household names, but plenty of other marketers, your clients included, are spending big money to connect with audiences. Currently, 36 states have legalized it in some way.
Online Sports Betting Demographics
Many consumers have personally bet on sports. Pew Research data indicates that about 15% have spent money in a private betting pool with friends, or family members. Another 8% go to casinos, racetracks, or betting kiosks to wager on their favorite teams. And another 6% are using an online betting app, sportsbook or casino to score a win. These numbers amount to about 20% of the U.S. population and show the market size.
Overall, about 24% of U.S. adult men and 15% of women participate in sports betting and gambling. By race and ethnic group, the numbers break out as follows:
- White — 18% (18% of White adults have bet in the last year.)
- Black — 27%
- Hispanic — 24%
- Asian — 18%
WestwoodOne reports that 80% of consumers interested in this form of betting fall into the 21-to-54 age bracket. Analysts say that consumers aged 55 and up are showing more interest in sports betting. In the past year, the number of older consumers who indicated interest jumped from 13% to 20%. AudienceSCAN data shows similar data and reveals that 40% of this audience has a household income that exceeds $100,000.
Regardless of the negative perception, plenty of consumers are interested in sports betting. Overall, about 56% of U.S. adults are aware that sports betting is gradually becoming legal in this country. Consumers have opinions on this trend, with 34% feeling it is a bad thing for society. Consumers with this negative opinion are more likely to be older, highly educated, and earning a higher-than-average income.
Sports Betting Advertising
During the first ten months of 2022, at least 400 gambling advertisers spent more than $738 million on advertising. Of that amount, 69% was directed into traditional media and national spending: broadcast TV, cable TV, and print.
This spending has attracted significant attention and increased brand awareness. But as the life cycle of the business matures, analysts expect marketers to shift some of their media budgets to digital marketing strategies and target formats where they can focus on generating a better ROI and reach a wider audience. Specifically, Flutter Entertainment noted that they hoped to “persuade more women to participate in sports betting.”
Media Formats that Deliver a Win
In addition, marketers should know that AM/FM radio listeners are more likely than TV viewers to place online sports bets, Westwoodone.com reports. According to Kantar, for every dollar spent on AM/FM radio, $24 is spent on TV. As a result, the Maru/Matchbox study points out that a good media mix might be AM/FM radio 52%/TV 48%, arguing that most TV watchers are over age 50, while most online sports gamblers are under that age.
Marketers should explore placing advertising on radio stations with a rock format, as 31% of online sport bettors enjoy that format. Don’t let your clients limit their media buying to the radio format. Podcast listeners are also into it. In fact, AudienceSCAN data shows up to 49% of sports bettors tune into their favorite podcasts regularly. They tend to favor the true crime (26%) and comedy (31%).
Legal sports betting is a new industry, and marketers are buying advertising to grow market share. Help your clients win by showing them which media formats to buy and which consumers to target.
Social Media Marketing
To really resonate with potential customers, sports betting operators are turning to social media marketing. The betting industry has its sights set on a younger audience that prefers digital marketing interactions. Companies can use social media to tap into the motivations and preferences of this impressionable age group.
Major sporting events have become a veritable playground for marketers, who leverage social media to connect with hotheaded bettors as they follow the action on their phones — teasing out the next big score, the rematch, or the Cinderella story. With the rise of mobile sports betting, marketers are crafting social media ads for sports betting and casino target markets designed to appeal to bettors in real time.
Want campaigns that truly hit the mark? Partner with sports betting marketing agencies whose sharp understanding of fan psyches can help your business find its target demographic. The goal is to drive engagement and boost credibility. For example, an online betting company marketing agency might suggest utilizing real-time data from platforms like Twitter during live games to interact with users and offer special promotions. Betting companies can attract more traffic and stand out in an industry with growing competition by focusing on their unique selling proposition.
Paid Marketing
What drives the sports betting industry forward? Paid marketing: which is constantly adapting to new trends and approaches. These days, getting your brand out there means allocating serious cash to digital platforms for paid ads as savvy companies realize the vast reach and influence of online marketing. The aim is to reach their sports betting target market more effectively. The savvy shoppers with disposable income are the ones these campaigns aim to impress, waving eye-catching promotions and exclusives in their faces. Paid advertising enables betting companies to maintain a steady flow of potential customers.
One of the most significant advantages of working with a sports betting marketing agency is gaining access to advanced business intelligence tools and market intelligence tools. Paid advertising can be a profit vacuum if you're not careful. But with the proper set of tools, you can target your best prospects and rake in a higher return on investment (ROI). With legalized sports betting breaking into the big leagues, companies need a one-two punch: a rock-solid and reliable brand with a digital marketing strategy that reels in new customers.
Influencer Marketing
Influencer marketing is increasingly popular in the sports betting market. Many sports betting companies partner with influencers with a solid following among bettors. You'll find that younger generations trust advice from social media personalities they admire. It's almost like getting a thumbs-up from a close friend.
An online betting company marketing agency will often recommend partnering with influencers involved in sports, esports betting, and even horse racing. Follower loyalty surges when influencers hit the sweet spot — credible advice, engaging content, and a genuine pulse on what drives the gaming community. Betting online or on mobile just got a whole lot more appealing, thanks to marketing that effectively ropes in new customers while maintaining credibility with existing ones.
Through influencer marketing, brands can forge genuine, long-term connections with the people who matter most — those who make the bets. Partnering with gaming influencers regularly allows betting companies to remain a constant fixture in the gaming world, firmly etching their brand in the minds of gamers. Influencers pump up the excitement with lively content — think live-streamed bets, behind-the-scenes peeks, or juicy insider tips that magnify the thrill of betting.
Referral Programs
Referral programs have been highly influential in the sports betting industry. Many companies offer incentives for customers who bring in their friends. This strategy leverages word-of-mouth marketing to tap into an audience that traditional advertising campaigns may not have reached. The benefits are twofold for sports betting businesses that take this route: a loyal customer base develops, and the costs of attracting new customers shrink significantly.
Team up with an online betting marketing agency to calibrate your referral programs and hit your target audience bullseye. Boosting your referral program during high-stakes events like football championships or major horse races can greatly increase your user base. Betting companies looking to scale up revenue growth can benefit from expert guidance on program structure courtesy of a seasoned marketing agency with industry expertise.
In-Venue Marketing
While online marketing has exploded, in-venue marketing remains a crucial part of any sports betting marketing services. Sportsbooks in casinos, racetracks, and other physical venues need to engage with bettors in real time. Venues can turbocharge in-house engagement by sending personalized promotions or insightful betting tips straight to patrons' mobile devices while they're on site.
A sports betting marketing agency can help businesses implement effective in-venue campaigns by analyzing bettors’ behavior. Gone are the days of hit-or-miss marketing. Behavioral assessment test tools let marketers build promotions that directly address their customers' deep-seated desires, leading to undeniable results. Betting operators can then tailor their marketing efforts to reach both casual bettors and those with higher disposable income, boosting average revenue.
Email Marketing
Sports betting operators know they can count on email marketing to bring results, and the numbers back it up. When businesses get smart about customer data and start organizing their crowd into smaller, like-minded groups, they can strategically email highly personalized messages — think 'Don't miss this game!' or 'Get ready for a jackpot of a deal!' Driving user interest and pumping up online traffic isn't just nice to have. The payoff is being able to see the impact right away.
Companies can work with an online betting marketing agency to design effective email campaigns that cater to specific interests. For example, sending updates on football games or esports betting events ensures the content is relevant and timely. What really drives results for sports betting businesses is being able to pinpoint what's working and what's not in their marketing strategy and then making the necessary tweaks.
The Future of the Sports Betting Industry
With every new development, sports betting's growth trajectory gets steeper — and the horizon looks bright. Imagine having customer insights at your fingertips 24/7. Mobile devices and real-time data bring that reality to marketing. Businesses that stay ahead of trends and partner with a sports betting marketing agency can expect to maintain a competitive edge in this rapidly evolving market.
Customer relationships are about more than wowing them once — an ongoing effort to show you care about their needs. Responsible gambling is not just a phrase — we must live up to the faith our customers have in us by making it a top priority. With online betting on the upswing, protecting consumer data from cyber threats has become a pressing issue, and this is where high-caliber IT credibility tools come into play to create a secure ecosystem.
One progressive approach to gaming is emerging: businesses are applying b2b marketing intelligence and behavioral assessment tests to create a safer, more sustainable gaming environment where business goals align with financial ambitions.
Key Takeaways For Sports Betting Marketing in 2024
As 2024 kicks off, expect sports betting marketers to hone in on precise demographics with an arsenal of sharp digital strategies. Betting companies must sharpen their approach to connect with specific groups on social media and through email marketing campaigns.
Getting sports fans on your side takes more than catchy ads and snappy slogans. So, what secretly excites your audience? What sends them into a panic? Only by uncovering these hidden emotional motivators can you start to connect.
A strong data-driven marketing strategy, backed by business and market intelligence tools, will allow operators to pinpoint the ideal sports betting target market. Whether you're looking to turbocharge your returns or swell your customer ranks, IT operators who tap into business intelligence and b2b credibility building tools for IT can improve their ROI.
Upgrade Your Sportsbook SEO Strategy
If you’re in the sportsbook business, SEO can’t be ignored. A sharp SEO strategy is a beacon of search engine optimization, guiding the engines straight to your website and landing you a top spot in their results. One effective way to pump up traffic to your sportsbook is to put this strategy into action. Visibility is the prize in a betting market where companies aggressively jostle for position.
An online betting marketing agency can assist with keyword research, content creation, and backlink strategies to improve your online presence. Sports betting marketing strategies that incorporate SEO will see increased user penetration and revenue.
Rather than being stuck in the shadows, forward-thinking sports betting businesses harness the insight-generating capabilities of business intelligence, market intelligence, and SEO to zero in on untapped opportunities and grow their customer base.
