In addition, more than a dozen states sell lottery tickets over the internet, according to James Carey, executive director of the New Jersey Lottery.
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Casinos initially had the same concerns when New Jersey launched internet gambling in Nov. 2013. Luisa Woods is vice president of Delaware North, the gambling, hospitality and sports company that owns casinos in New York, Arizona, Arkansas, Florida, West Virginia and Ohio.
Historically, advertising in fourth quarter has been the most expensive of the year driven by high demand of the holiday season. Traditional product categories that ramp up their marketing budgets include retailers, toys/games, apparel, alcoholic beverages and movie studios. Plus every other year political ads plunk down billions of ad dollars. New to the list will be sports betting.
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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