Consumers are seeing a lot fewer of the betting commercials that blanketed sports TV in recent years.
Ads for sports gambling in the US tumbled 21% last year, the first decline since 2016, as operators sought to reduce ongoing losses in the business.
Spending peaked at about $1.4 billion in 2022, up from just $22.9 million five years earlier, according to a Nielsen study commissioned by the American Gaming Association trade group. The numbers exclude ads promoting daily fantasy sports sites.
Sports betting exploded in the US after the Supreme Court in 2018 allowed its expansion beyond Nevada. Gamblers can now place wages in some 38 states. Companies traditionally spend heavily promoting their betting apps in new states, but began cutting back on marketing in the second half of 2022 under pressure from investors to turn a profit.
