“Over the next 10 years, this is going to be a more than $1 billion opportunity for the league and our clubs,” said Christopher Halpin, chief strategy and growth officer for the N.F.L.
Little more than three years after the Supreme Court struck down a federal law that prohibited sports gambling in most states, sports betting companies are meeting an eager audience. GeoComply Solutions, a company that uses geolocation to help confirm that bettors gambling online are doing so from places where betting is legal, said it processed 58.2 million transactions in the United States during the N.F.L.’s opening weekend, more than double what it handled during the same weekend last season.
“We expected high volumes, but what we have seen has surprised us nonetheless,” said Lindsay Slader, a managing director with GeoComply, which is based in Canada. “The level of demand across new markets, such as Arizona, indicates that consumers have long waited for the option to legally place a sports bet.”
The company said the bets came from 18 U.S. states and the District of Columbia. Soon, more states are likely to join.
New York has approved online betting and is in the process of determining which operators will be allowed to take wagers. And sports betting measures are under consideration in heavily populated states such as California, Texas and Florida, where sports book operators are spending heavily to get a foothold.
“You have to look at the size of the prize,” said Craig Billings, chief executive of Wynn Interactive. “I think this is going to be the same size of market as the commercial casino industry in the U.S., $40 billion annually or more.”