Research conducted by the Washington State University found that sports betting on tribal casinos is on track to become a $94 million industry in the state within the next five years. According to the study, sports wagering at tribal casinos will also lead to an estimated 273 direct jobs.
About 59% of Washington residents surveyed described themselves as sports fans. About 5% said they placed wagers on games at least once per month, mostly through office pools and sportsbooks, while nearly 14% said they were likely to participate in Washington’s emerging sports betting industry.
The conducted study, presented during the Washington State Gambling Commission’s meeting on Tuesday, included a market analysis of remote online sports betting, which is available in other states. If remote online sports betting was to become legal in Washington, the industry would more than triple in size, generating about $322 million in annual revenue.
Kahlil Philander, the study’s principal investigator and assistant professor in the School of Hospitality Business Management at WSU Everet, said: “When you think about recreational activities, participation from 14% of the population is significant.”
“Sports organizations and media companies like ESPN and Fox have developed their own national betting brands,” he added. “Meanwhile, typical gambling brands like DraftKings and BetMGM are all over social media and national television advertising. Washington is just starting to learn what the industry will look like in this state.”
In March 2020, the state Legislature authorized on-premise sports wagering at tribal casinos, subject to the terms of tribal-state gaming compacts. Wagers must be placed in-person through a betting window, kiosk, or onsite mobile app at the casino. Online betting from remote locations is not allowed, additionally, the state’s regulations don’t allow wagers on college or university teams located within Washington.
Philander said the study provides a third-party analysis on the scope of sports betting in Washington. WSU doctoral student Lu Yuan and Eilers & Krejcik Gaming LLC of Irvine, California, also contributed to the report.
Original article: https://www.yogonet.com/international/news/2021/11/17/60243-washington-39s-tribal-sports-betting-expected-to-grow-to–94m-in-next-5-years
