Analyst predicts higher rise in US online betting by 2025
A JP Morgan analyst projects that online casinos and sportsbooks in the US will see a combined $19.3bn in revenue within four years.
US.- A new report shows a higher than expected forecast for the US igaming and sports wagering. Joseph Greff, a JP Morgan analyst predicts revenue of $19.3bn for 2025, up from earlier projections of $12.2bn.
He’s increased the projection for sports betting revenue from $7.6bn to $11.5bn. Igaming revenue could rise from a projected $4.6bn to $7.8bn.
These numbers reflect the 27 jurisdictions where sports betting is already legal, together with Arizona, Wyoming, Maryland and Connecticut. It’s expected that 35 jurisdictions will be in place by 2025.
As for 2021, Greff has upped his estimate for sports betting and igaming revenue from $6.6bn to $8.3bn.
According to this projection, sports betting will be account for $4.4bn, an increase of $2bn from the previous projection, while igaming will contribute $3.9bn, up from $2.1bn.
Greff also said that his analysis gave a greater appreciation for the online casino segment’s higher margin, even though sites are legal in five states only: Pennsylvania, New Jersey, Delaware, Michigan, and West Virginia.
