How Betting Changes the Sports Media Business
Where sports betting is illegal, sports media businesses are struggling. The onslaught of Internet-based media channels, video games and smartphones are a threat to the traditional sports media businesses. Not everywhere though--in many parts where betting is legal, the sports media industry is a big business.
In the US, the country’s Supreme Court injected a dose of hope to traditional sports stations when they need it the most. By scrapping a 26-year-old law that once prohibited sports betting, the struggling TV sports industry has a chance at reviving itself.
So, what’s the impact of betting on the sports media industry?
An Uptick of Viewership
A 2016 survey by the American Gaming Association revealed that sports bettors view games longer than non-bettors. While regular fans tend to abandon games the moment they get bored, bettors watch games until the end. The same survey also revealed that punters bet on both games they love and those they don’t.
With an increased promotion of betting related activities, more people become interested in betting. These same people rely on TV sports stations to watch the games as they follow their wagers. In a study done by the Nielson Sports Organization, sports bettors made up 25% of NFL’s TV audience in 2015. Of course, the research didn’t say this but punters enjoy the games if they are also winning.
Increased Advertising Revenues
It’s no longer a secret. People are ditching cable TV for streaming network. Almost all major boxing matches these days are sponsored by streaming networks. Across the major sports, there are news networks dedicated to streaming.
Despite all that, sports TV stations lead all genres when it comes to viewership. The industry is valued at more than $6 billion in the US and an amount close to that in the UK. Where betting is legal, the numbers tend to be higher than where it’s illegal.
Premier league advertisers come from all over the world. Prior to 2010, 40% of betting companies advertising in the UK came from Asian countries. Over the years, UK-based betting companies have remained the biggest advertisers. More than 100 broadcasters televise premier league matches across the world. Most of them run adverts sponsored by betting companies.
Promotes a Betting Culture
The billions spent on ad revenue have a purpose. Betting companies actively work with media organizations to encourage betting. They place ads on the TV as games are watched. They place banners across stadiums and place their logos on sports jerseys.
The big companies sponsor TV shows specifically meant to encourage betting. And thanks to reinforcing the message with big jackpots, people are receptive to betting. The many bonus bets on Australian betting sites are too lucrative to ignore.
With bonus bets, you don’t have to spend all your money on betting. Simply find good games to bet on. Qualify for a free bet by maybe wagering with €20 or more and you get an extra bet free of charge. There numerous types of free bets.
If you love betting, follow Bookmaker free bets promotions and you could get free bets almost every week. With the many bets, you can wager more and increase your shots at winning. If you lose, you don’t have to worry about it because you didn’t wager with your money.
Enables the Media to Invest in the Best Technologies
Betting companies have a major influence on how the sports Media run. Much of the influence comes from the millions of dollars spent on these companies. Without money, media organizations would be struggling to sustain streaming channels.
The mobile apps, streaming networks, media equipment and everything else technology-related aren’t cheap. They are also necessary in the competitive media world. Organizations with the best technologies tend to be more popular.
They can broadcast and reach to fans in a multitude of fans. Their televised games are better in quality. Their intuitive mobile apps keep fans flocked to them. Their websites and ingenious technological tools all make them popular. Better yet, they attract more ad revenues because every sponsor wants to advertise in the best companies after all.
Encourages Social Interactions
Gone are the days when sports TV stations only aired games without interacting with fans. Tune in to any major sports TV network on a match day. Usually, there will be a program hosted by reporters that ask fans to interact with them on social media.
Most of these shows also run reward programs-often sponsored by betting organizations. Fans could be asked to predict upcoming matches and win real cash or team jerseys courtesy of specific betting organizations.
While it doesn’t look like much influence, it is such activities that help the betting industry expand. One moment sports fans are giving a shot at small prices promoted by their favorite TV stations. The next—they will be on betting sites trying their luck on betting.
Helps Expand the Sports Industry Globally
Without adverts, sports TVs usually relied on subscriptions to broadcast sports games. But once sports companies began spending millions on them, a lot of stations switched to free to air models. China is a prime example. At one time, the country’s sports TV stations relied on subscriptions for pay. With increased ad revenues, they switched to free to air models. Suddenly, 300 million people started watching sports.
Since sports betting is illegal in China, most of the country’s sports media ad revenues are generated from other means. However, there are multiple countries where sports media channels no longer charge viewers thanks to increased revenues from betting firms.
With sports media organizations investing in apps, websites and related communication channels—they help promote sports further. Of course, very little of that would be accomplished without ad revenues-a huge portion which comes from betting brands.
The sports media industry encompasses a broad range of sports and media organizations. But when it comes to media relations, few industries are as impactful to sports as the betting industry. Billions are spent in ad revenues. Regular sponsorships and campaigns all help the media and the sports industry in multiple ways.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes.