In-Venue Sports Betting: What does the Future Look Like?

William Hill sportsbook - Capital One Arena, Washington D.C.

Sports betting is becoming legalized all across the country and that means we’ll see sports venues incorporate betting in-stadium to adapt to the expanding market. What does this mean for the future of smart venues and the sports betting?

In May, the Maryland House of Representatives passed a bill that allows online sports betting at stadiums. This puts them on a list of states that allow betting inside their venues. Other states include, Illinois, Arizona, and Washington D.C. Capital One Arena introduced in-venue betting in August 2020 with William Hill, the first sportsbook inside a U.S. professional sports stadium. The interim setup handled $12.2 million from 113,000 bets in September 2020.

With sports betting legalization enhancing, states want to be early adopters and capitalize off of this new monetization opportunity. Let’s take a look at some professional sports teams and betting brands that have already made partnerships.

• Pittsburgh Penguins’ PPG Arena announced a partnership with BetRivers.

• Chicago Cubs plan for DraftKings sportsbook near Wrigley Field in 2022.

• Washington Nationals and BetMGM partnership for onsite sportsbook, deal makes BetMGM the only available mobile sports betting app while at Nationals Park. 

Wrigley Field sportsbook concept

This trend will most likely continue as sports betting becomes legalized more and more across the U.S., but not everyone is on board. The NFL said it would allow sports betting “lounges” at venues in states where sports betting is legal but placing in-person bets in the lounges would still be prohibited.

Sports betting used to be considered taboo and now major professional sports teams and leagues are making it a part of their brand. This is only a couple of years after it started becoming legalized, the potential profit from sports betting is immense. Look for organizations and leagues to continue on this path as they attempt to engage fans more and reach new audiences.