With the legalization of sports betting, it opens many opportunities for TV broadcasters. According to a study from the Horowitz Research, sports betting can boost TV engagement. The study looked at how legal sports wagering can be a decisive factor for various industries, including the TV industry.
One of the benefits of sports betting is that it improves audience engagement. When a person wagers on sports, the person is 80 percent more likely to watch it on TV. Also, it makes the person watch news about games. Thus, it improves the potential for higher ad revenue.
Sports betting provides new content for sports networks and broadcasters. The study showed that players are more interested in commentary and news. Also, they watch shows on results and analysis of betting.
Sports Betting Can Boost TV Engagement
Based on sports betting software solution reports, broadcasters can incorporate sports wagering as an additional revenue source. They can leverage the popularity of the activity to create shows in satellite, cable, or other platforms.
The majority of respondents of the survey said they would place wagers directly on TV while watching the game. According to pay per head solution sources, networks should invest in technology that would allow sports betting during live broadcasts.
Most players get their information on sports bets from major media sports brands, such as FOX Sports, CBS Sports, NBC Sports, and ESPN. Also, other significant sources are the leagues’ official Twitter and websites. NBC Sports already have special programming for the sports wagering industry. Analysts expect more broadcasters will follow soon.
The study showed that there’s an opportunity for the TV industry to capitalize on their audience. They can create more shows catering to sports betting. Sports pay per head providers can also use the opportunity to reach their target market by buying ads during those shows.