As the popularity of online gambling continues to soar in the United States, analysts are turning to alternative data sources to gain insights into who is spending money on these platforms and where they are located.
A recent analysis conducted by Legal Sports Report utilized alternative data sources to provide a comprehensive look at the demographics of online gambling spend in the US. By leveraging data from sources such as credit card transactions, geolocation data, and social media analytics, researchers were able to paint a detailed picture of the typical online gambler in America.
The analysis revealed that the majority of online gambling spend comes from males between the ages of 25 and 44, with disposable income to spare. This demographic is more likely to engage in sports betting and casino games, compared to other forms of online gambling such as poker or daily fantasy sports.
Interestingly, the data also showed that online gambling spend varies significantly by location. States with more permissive gambling laws, such as New Jersey and Nevada, saw higher levels of online gambling activity compared to states with stricter regulations. This suggests that legal barriers play a significant role in shaping the online gambling market in the US.
Furthermore, the analysis found that online gambling spend tends to be concentrated in urban areas, with major cities like New York, Los Angeles, and Chicago emerging as hotspots for online gambling activity. This trend is likely driven by the higher concentration of tech-savvy individuals and disposable income in these urban centers.
Overall, the use of alternative data sources has provided valuable insights into the who and where of online gambling spend in the US. By understanding the demographics and geographic distribution of online gamblers, regulators and industry stakeholders can make more informed decisions about how to regulate and promote online gambling in the future.