Football to generate more than $20B in legal sports bets during the 2021 season

"Propelled by the launch earlier this year of legal sports betting in relatively large states like Michigan and Virginia, in addition to states such as Arizona that are expected to launch near the beginning of the NFL season, the U.S. market has grown significantly since the beginning of the 2020 football season," said Dustin Gouker lead analyst for the PlayUSA.com Network. "The U.S. sports betting market looks entirely different than it did just one year ago. There is no question that it will be a historic football season unlike any we've seen before."

According to PlayUSA projections, the 2021 football season will bring:

• More than $20 billion in single-game football wagering, excluding parlay bets. Those bets could produce as much as $1.5 billion in revenue for sportsbooks across the country.
• At least $12 billion will be bet on the NFL this season, excluding parlay bets. Those wagers will produce at least $800 million in revenue.
• College football will attract $8 billion in wagering, excluding parlay bets. Sportsbooks could win more than $550 million from those wagers.
• Since the end of 2020, Michigan and Virginia have successfully launched full-scale sports betting to become the fifth- and seventh-largest markets in the U.S., respectively. The biggest variable could be which states launch during the football season. Arizona, Connecticut, Florida, and others could launch or expand sports betting in some form by the end of the 2021 season.

In addition, college football should play a more robust schedule after a pandemic-marred 2020, and operators are expected to invest millions in promotions around football. 

New operators have also made marks, including popular upstarts such as the Barstool-branded app, which has expanded its footprint significantly since the 2020 football season. It also includes high-profile newcomers such as SI Sportsbook based on the Sports Illustrated brand, which recently launched in Colorado and is expected to expand its reach through the year.

In fact, Colorado leads all markets with 26 sportsbook brands active in the state. 

Source: PlayUSA.com