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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He¡¯s not alone. Although many young bettors turn to sites like Audacy and the Action Network for gambling advice, they also follow people like Big Tone to see their bets and sometimes tail them. Some people, like McAfee, who has 2.5 million Twitter followers, influence on a nationwide scale, as his Super Bowl parlay escapade proved. Others have fewer followers but influence nonetheless. Then there are those who gain cachet within their friend groups for cashing their bets.
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