{"id":235176,"date":"2022-10-03T05:00:51","date_gmt":"2022-10-03T10:00:51","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=235176"},"modified":"2022-10-05T17:24:57","modified_gmt":"2022-10-05T22:24:57","slug":"consumers-expected-to-boost-betting-spedning-this-fall","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/consumers-expected-to-boost-betting-spedning-this-fall\/","title":{"rendered":"Sports Bettors Likely to Spend Big this Fall, Survey Says"},"content":{"rendered":"

The percentage of Americans engaging in sports wagering and fantasy sports where money is involved is relatively low. But, those bettors are big spenders, according to a new LendingTree survey.<\/p>\n

\"betting
The sportsbook at Westgate Las Vegas, seen above. Consumers are expected to spend big on sports this fall. (Image: Westgate Las Vegas)<\/figcaption><\/figure>\n

In a poll covering Americans\u2019 broader sports-related spending habits, the financial services firm said just 8% of those queried plan to wager on sports, while 7% plan to allocate cash to fantasy sports. Presumably, the latter category includes season-long leagues and daily fantasy sports (DFS),<\/a> though LendingTree doesn\u2019t offer a breakdown.<\/p>\n

Eight percent of fans expect to bet on sports, while another 7% will spend on fantasy sports. While these figures may seem low, 33% of these sports betters and fantasy players will shell out more than $1,000 this fall,\u201d according to LendingTree.<\/p><\/blockquote>\n

From a broader perspective, the poll noted Americans expect to spend an average of $664 on sports this fall. That includes expenditures on going to games, apparel, and food and beverages for tailgates, as well as betting and fantasy sports. The survey polled 1,600 Americans across four generations — baby boomers, Gen X, millennials, and Gen Z.<\/p>\n

Some Encouraging Signs for Gaming Companies<\/h2>\n

On the surface, 8% of Americans committing to wagering on sports and 7% to fantasy sports don’t appear to be needle-moving statistics<\/a> for gaming companies.<\/p>\n

However, a deeper examination reveals some encouraging signs. In addition to the 33% of respondents who said they\u2019ll devote at least $1,000 to betting this fall, another 3% said they\u2019ll spend at least $3,000 on the activity.<\/p>\n

Unfortunately for consumers, a significant percentage expect to go into debt this fall due to sports spending, including betting and fantasy leagues. For example, 42% of Gen Z\u2019ers anticipate accruing sports-related debt this autumn, according to LendingTree.\u00a0<\/strong><\/p>\n

There are also income-related statistics to consider, as 44% of workers earning less than 35% annually foresee taking on sports debt this fall. That’s compared with 28% of those making at least $100K annually.<\/p>\n

“Done wisely and in moderation, sports betting can be an amazing, fun thing,\u201d said Matt Schulz, LendingTree’s chief credit analyst. \u201cFantasy football leagues, March Madness brackets, Super Bowl pools, and trips to Vegas with family and friends can be fun and lucrative \u2014 and create memories that last a lifetime. And the adrenaline rush you feel when you win a sports bet can be powerful.\u201d<\/p>\n

Vegas-Related Implications<\/h2>\n

There are some implications for Las Vegas in the LendingTree survey, too. Another 8% of those polled said they\u2019ll travel for live games. With Sin City being home to the NFL\u2019s Raiders and Allegiant Stadium, one of the league’s newest stadiums, fans from around the country will make the trip to the US gaming hub to see their team take on the Raiders.<\/p>\n

\n

As analysts have noted<\/a>, the Raiders, the NHL\u2019s Vegas Golden Nights, and one-off events, such as March Madness games and the Formula 1 race in November 2023, are catalysts to bring consumers to the Strip. In turn, they\u2019ll pay elevated room rates, eat, drink, and likely wager.<\/p>\n<\/div>\n

Some 73% percent of respondents to the LendingTree survey said they\u2019ll spend cash, in some form, on football this fall, or nearly double the 38% planning to allocate money to basketball.<\/p>\n","protected":false},"excerpt":{"rendered":"

The percentage of Americans engaging in sports wagering and fantasy sports where money is involved is relatively low. But, those bettors are big spenders, according to a new LendingTree survey. In a poll covering Americans\u2019 broader sports-related spending habits, the financial services firm said just 8% of those queried plan to wager on sports, while […]<\/p>\n","protected":false},"author":46,"featured_media":235177,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14007,81886,1074],"tags":[82435,23,80968],"acf":[],"yoast_head":"\nConsumers Expected To Boost Betting Spedning This Fall<\/title>\n<meta name=\"description\" content=\"Betting spending among drivers sports spendign surge, according to LendingTree survey.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Consumers Expected To Boost Betting Spedning This Fall\" \/>\n<meta property=\"og:description\" content=\"Betting spending among drivers sports spendign surge, according to LendingTree survey.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/consumers-expected-to-boost-betting-spedning-this-fall\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-03T10:00:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-05T22:24:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/WGate-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/consumers-expected-to-boost-betting-spedning-this-fall\/\",\"url\":\"https:\/\/www.casino.org\/news\/consumers-expected-to-boost-betting-spedning-this-fall\/\",\"name\":\"Consumers Expected To Boost Betting Spedning This Fall\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/consumers-expected-to-boost-betting-spedning-this-fall\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/consumers-expected-to-boost-betting-spedning-this-fall\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/WGate-scaled.jpg\",\"datePublished\":\"2022-10-03T10:00:51+00:00\",\"dateModified\":\"2022-10-05T22:24:57+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Betting spending among drivers sports spendign surge, according to LendingTree survey.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/consumers-expected-to-boost-betting-spedning-this-fall\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/consumers-expected-to-boost-betting-spedning-this-fall\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/consumers-expected-to-boost-betting-spedning-this-fall\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/WGate-scaled.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/WGate-scaled.jpg\",\"width\":2560,\"height\":1707,\"caption\":\"The sportsbook at Westgate Las Vegas. 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