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Local Sports Betting Ad Spend: For local advertising, BIA forecasts ad spend for sports betting to reach $1.8 billion in 2022, a sizable jump of 80% from 2021. By 2024, BIA projects local ad spend for the category to total $2.9 billion. BIA¡¯s Nicole Ovadia, says, ¡°With New York and other larger markets making online sports betting legal this year, that has led to a significant increase in ad spending. BIA is also forecasting this vertical to grow significantly between now and 2024 when it will hit nearly $3 billion. This jump is dependent on California voting to legalize online gambling in 2023 and going live in 2024.¡±
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¡°Think about the ads,¡± Maney said. ¡°Every one of these kids is seeing them ¡ª Facebook, Instagram, every game you watch. If you¡¯re a 12-, 14-year-old ¡ª the backdrop is DraftKings. Why wouldn¡¯t they gamble?¡±