How Betting Will Change the Sports Media Business
What happened: The Supreme Court struck down a 26-year old federal law that kept sports betting outside of any state not named Nevada.
How big of a deal is this? Compare where Great Britain currently is versus the United States in terms of betting on sports.
1) United States — 325M
2) Great Britain — 66M
Sports betting per person:
1) Great Britain — $302
2) United States (NV only) — $15
Share of TV viewing for sports bettors:
1) Total viewers — 25%
2) Total minutes — 47%
ESPN could be one of the biggest beneficiaries of legalized sports betting.
Big question: Will this drive sports rights fees even higher or was the anticipation of this ruling already priced into negotiations?