Mediaradar: US Gaming Operators Spent $866M on Advertising in 2022

According to MediaRadar, American gambling companies invested $866 million in advertising last year, Inside Radio reports.

Gambling operators increased their spending in every quarter of 2022, with the highest expenditure occurring in the fourth quarter, which is associated with the start of the new NFL season, traditionally popular among American bettors.

The gambling industry’s average monthly advertising budget, including casinos, bookmakers, and fantasy sports operators, was $72 million last year, 57% higher than the $46 million recorded in 2021.

MediaRadar notes that this growth occurred despite a 3% year-on-year decrease in the number of advertisers.

Before last year’s Super Bowl, gambling sector advertisers increased their spending by 134%. After the season-ending NFL game in March 2022, advertising expenditures decreased by 18%, but marketing investments continued to grow throughout the rest of the year.

MediaRadar analysts predict that the trend of increasing advertising expenditures in the gambling industry will continue in 2023. However, rising inflation and shrinking consumer budgets may limit the advertising budgets of gambling company advertisers.

To support its forecast, MediaRadar cites data on advertising expenditures by US gambling operators for the current year. For example, in January, 14 bookmakers spent $85.3 million on television advertising, a 20% increase over the previous year.

Advertising spending on video hosting platforms showed an even greater increase, rising 225% to $4.5 million.

Earlier, BIA Advisory Services predicted that American gambling companies’ advertising expenditures in 2022 would be around $1.8 billion, assuming that the legalization of betting in California would have an impact, which did not happen.