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Sports Betting Revenue: Revenue for sports betting has been climbing. For the first half of 2022 revenue totaled just over $3 billion compared to $4.3 billion for all of last year. Morgan Stanley forecasts revenue to reach $7 billion by 2025. Also, in 2021 Americans bet $57.2 billion on sporting events, a year-over-year increase of 165%.
Despite the growth of commercial sports betting in the wake of the Supreme Court¡¯s 2018 ruling, the most common way that Americans bet on sports is with friends or family, according to the Center¡¯s survey, which was fielded July 5-17 among 6,034 adults. Some 15% of adults say they have bet money on sports with friends or family in the last 12 months, such as in a private betting pool, fantasy league or casual bet. Smaller shares say they have bet money on sports in person at a casino, racetrack or betting kiosk in the past year (8%) or that they have done so online with a betting app, sportsbook or casino (6%). All told, 19% of adults have bet money on sports in at least one of these ways in the past year.
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