The football season is about to begin, and sports betting operators will likely be spending more funds on television advertising. However, a new study indicates that gaming operators should focus on radio promotions.
Matchbox conducted a study this year on sports betting advertising opportunities in Michigan that has legal sports betting. The study covered over 720 gambling adults in states that include: Colorado, Iowa, Indiana, Michigan, New Hampshire, Nevada, Pennsylvania, Virginia, Tennessee, and West Virginia.
The study found that the younger population that gaming companies covet are avid radio fans.
“Across the twelve states with legalized sports betting, MARU/Matchbox found more online sports betting engagement among AM/FM radio listeners.”
The survey also found that 42 percent of AM/FM radio listeners are likely to place a bet compared to 28 percent of TV viewers.
This information is relevant to gaming companies as iGaming and sports wagering is still in the early stages, and operators need to acquire and retain customers. In most cases, operators are willing to spend more on advertising at the expense of profitability.
Big names like DraftKings and FanDuel spend million on best prime time ads like during marquee events and Monday Night Football or Super Bowl. However, those costly expenditures may not be effective as operators may hope.