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As sports betting platforms continue to gain market share and attract more participants, Citizens JMP Senior Equity Research Analyst Jordan Bender joins to discuss why he believes in-play micro betting is poised to become a $14 billion industry.
"In-play betting particularly will be a growth segment for these [sports-betting] companies," he tells Yahoo Finance, highlighting it as "an area that we think will be a major driver of revenue." Bender explains that in-play betting involves predicting a game's next move or outcome, such as a specific pitch in baseball or a pass in an NFL game, which he describes as "engagement tools."
Bender estimates the total sports betting market could reach $28 billion by the end of the decade. Currently, in-play betting represents 30 to 40% of the US market, but he projects this could increase to 50 to 60% by 2030, translating to approximately $14 billion.
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This post was written by Angel Smith