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Local radio is also benefiting from sportsbooks seasonal ad spending strategy. According to Inside Radio, after a lull of several months in marketing activity, for the week of September 5 (which coincided with the start of the 2022 NFL season) three sportsbook companies ranked among the top 100 advertisers. DraftKings led, ranking ninth among all advertisers with 28,945 AM/FM spot occurrences, the most radio ads run by a sportsbook advertiser in any week. FanDuel ran 11,268 ads ranking 52nd and Caesars Sportsbook aired 6,766 messages ranking #86. BIA recently increased its radio ad spend forecast for sportsbooks from $150 million to $164 million for the year.
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The process is easy and app-driven. Gaming companies provide constant offers of ¡°risk-free¡± bets, which allow customers to bet up to a certain amount; if they lose, the money is returned to them as a credit (not cash) that they can use to bet later. They don¡¯t need ¡°a guy¡± or an offshore account. They open an app from a myriad of gaming companies (13 are active in Pennsylvania and 20 in New Jersey) and bet on just about anything you can imagine, including darts, snooker, Australian rules football and handball, before and during games. It¡¯s reminiscent of the January 2021 technology-fueled stock-market run of GameStop, which was promoted on social media and joined online by scads of profit-seeking young investors. And the chance to play parlays, place prop bets (will James Harden make more than 2.5 three-pointers against the Heat?), and wager during games is extremely attractive to people 21 to 30 years old.