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Local Sports Betting Ad Spend: For local advertising, BIA forecasts ad spend for sports betting to reach $1.8 billion in 2022, a sizable jump of 80% from 2021. By 2024, BIA projects local ad spend for the category to total $2.9 billion. BIA¡¯s Nicole Ovadia, says, ¡°With New York and other larger markets making online sports betting legal this year, that has led to a significant increase in ad spending. BIA is also forecasting this vertical to grow significantly between now and 2024 when it will hit nearly $3 billion. This jump is dependent on California voting to legalize online gambling in 2023 and going live in 2024.¡±

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"It's a question that we have certainly raised. Ideally, if that was really what we wanted to engage in, it would require a legislative fix," Judd-Stein told reporters last week, adding that she was only speaking for herself, not the entire commission.

¡°Sports gambling is no longer taboo,¡± says Luke Beshar, VP of insights and analytics for Team Whistle, a New York-based sports and entertainment media company that targets the under-35 audience. ¡°In the past, it was reserved for Vegas, and there was a social stigma about it. Now, it¡¯s a way to engage and get skin in the game as people are watching the game.¡±

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