Washington tribal sports betting could generate $94m in five years

Research from Washington State University suggests that nearly 14 per cent of the state residents are likely to bet.

US.- A study conducted by the Washington State University has found that sports betting at the region’s tribal casinos could become a $94m business in the next five years. The research found that nearly 14 per cent of Washington residents are likely to participate in the emerging sports betting industry.

The Washington University, which presented the work to the Washington State Gaming Commission, said the figures are a reflection of the enthusiasm for professional and collegiate sports wagering. It is estimated that sports betting at tribal casinos will create an estimated 273 direct jobs.

Kahlil Philander, the study’s principal investigator and assistant professor in the School of Hospitality Business Management at WSU Everett, said: “When you think about recreational activities, participation from 14 per cent of the population is significant.”

“Sports organizations and media companies like ESPN and Fox have developed their own national betting brands. Meanwhile, typical gambling brands like DraftKings and BetMGM are all over social media and national television advertising. Washington is just starting to learn what the industry will look like in this state.”

Washington became the first state in 2020 to legalise sports betting after Governor Jay Inslee signed ESHB 2638 into law.

See also: Washington closes sports betting deal with Suquamish Tribe