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Bad Beat For Books: Half In Poll Say They’ll Bet On Olympics Casually With Friends

20.1 million Americans plan to bet, but regulated sports betting industry has work to do

Brian Pempus by Brian Pempus
July 20, 2021
in Analysis
olympic torch

Image: Ververidis Vasilis/Shutterstock

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A casino industry survey released Tuesday leaves much to be desired for the regulated sports betting industry.

The American Gaming Association said in a news release that 20.1 million people in the U.S. “plan” to bet on the upcoming Olympic Games in Tokyo. The competition was postponed from last year due to the COVID-19 pandemic. The virus is back with a vengeance, but the Olympics are still on.

The AGA said its Olympics survey was the first of its kind.

The 20.1 million potential bettors are equivalent to 8% of the American adult population. Legal and regulated sports betting is allowed in states with a combined population of more than 100 million people.

The poll was conducted by Morning Consult July 9-12, and it had a sample of 2,200 adults who were interviewed online. The data was weighted to approximate a target sample of adults based on gender, educational attainment, age, race, and region.

The reported margin of error is +/- 2%.

For some additional context: The 20.1 million is less than half of the 47.4 million the AGA found in a separate survey were going to bet on March Madness earlier this year.

One problem for the industry …

Though 20.1 million bettors sounds like a healthy number, the AGA found that 47% plan to bet casually with friends. The regulated sports betting industry won’t get a piece of that wagering activity.

Side note: One can clearly see why the sports betting industry is trying to capture that peer-to-peer wagering.

Unfortunately, from an industry perspective, that is expected to be the most common way of wagering. The good news is that 43% say they will place a bet online, though that presumably includes some offshore betting.

States with legal and regulated sports betting see around 90% of their handle come via the internet. Since mid-2018, more than $60 billion has been wagered legally in states that allow it.

The survey found that 16% will place a bet on the Olympics at a retail sportsbook.

Just 13% said they will bet through a bookie, which isn’t a legal method. The black market will take time to phase out, as legal sports betting has spread nationally only since 2018.

The AGA did find that a significant number of people are declining to bet on the Olympics illegally.

“Demonstrating Americans’ strong desire for legal betting options,” the AGA said in the presser, “10% of Americans who do not plan to place a bet on this summer’s games said they would be more likely to wager if it was legal to place an Olympic bet in their state.”

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Brian Pempus

Brian Pempus

Brian served as a senior reporter and online content manager for Card Player Magazine for nearly a decade before joining USBets in October 2018. He is currently focused on legal and regulated sports betting and online gaming. He's an avid jiu-jitsu practitioner in his free time.

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