Market Trends of Sports Betting Kiosk Industry
Retail and Casino will dominate the Market
- With a developing new industry on the horizon, companies are working to capitalize on the new opportunities in sports gambling. Casinos must be well-prepared for the influx of new customers herding to their venues in hopes of putting their first legal sports bet. As a result, multiple casinos find that sports betting kiosks provide an automatic self-service solution to handle a higher volume of sports wagers without requiring additional customer service staff.
- With such expected economic growth in the gambling industry, casinos must do their best to facilitate betting services. Sports betting kiosks will be a crucial factor in perfecting this method as they will improve the customer experience and improve betting revenues for operators. Kiosks will enhance the customer experience by cutting down wait time. Customers will be able to place a bet immediately. With multiple betting kiosks available, customers can place a wager whenever possible. In turn, this will increase revenue with more total bets placed.
- In July 2023, International Game Technology PLC revealed that its award-winning IGT PlaySports technology is now powering retail sports betting at Palace Casino Resort in Mississippi. Palace Casino Resort guests now have the option to visit the contact Sports and Race Book to place a range of pre-game and in-play wagers at the venue's four walk-up betting windows or via the IGT PlaySports-powered sportsbook's four self-service betting kiosks. Palace Casino Resort is also leveraging the services and expertise of IGT PlaySports' trading advisory team.
- Further, In January 2023, Kansas Crossing Casino in Pittsburg now allows sports betting. The casino unveiled three new kiosks as part of a partnership with Caesars Sportsbook. The kiosks allow for pre-game and live sports betting. Last year in Kansas, sports betting became legal in state-owned casinos. The four casinos contracted with the state to deliver sports wagering through independent platforms were Ford County near Dodge City; Boot Hill Casino & Resort; Kansas Star Casino in Mulvane; Hollywood Casino at Kansas Speedway, Kansas Crossing Casino & Hotel and Kansas City, KS; and in Pittsburg.
Understand The Key Trends Shaping This Market
Download PDF
North America is Expected to Hold the Significant Market Share
- According to research revealed by the Fantasy Sports & Gaming Association (FSGA) during its annual Winter Conference last year, the sports betting and fantasy sports industries have just scratched the surface regarding potential participants. While fantasy sports and sports betting markets have experienced significant recent growth, most Americans have yet to participate; 193 million did not bet on sports, and 203 million American adults did not play fantasy in the past year.
- The opportunity for further growth is ample; among those that don't experience, there is a significant pool of future new players and bettors; 19 million and 17 million current non-players/bettors are at least somewhat likely to start playing betting and fantasy on sports respectively in the next year.
- With the official launch of legal sports wagering in Ohio, FanDuel Group and Boyd Gaming revealed the availability of the FanDuel Sportsbook within the state and the commencement of a new retail sportsbook at Belterra Park Cincinnati. Sports fans at least 21 years of age in Ohio can download the FanDuel Sportsbook app for Android and iOS or bet via desktop computers and kiosks once the strict verification process is completed.
- SB22, a Dallas-based provider of sports betting platforms, has launched its K22 kiosk and retail sports betting solution. The standalone, self-service terminal does not require a sportsbook and offers SB22's patent-pending BetLucky option for assisted parlay selection. The K22 integrates CMS and loyalty systems while delivering TITO interoperability and functionality with all gaming and related equipment.
- On September 2023, According to a press release, the Kentucky Governor placed the first bet at Churchill Downs to launch in-person sports wagering in Kentucky. He placed a $20 parlay bet for the "over" on wins for the University of Kentucky and University of Louisville football teams and the "under" on Duke University's football team. After full implementation, sports wagering is expected to increase the state's revenue by an estimated $23 million a year.
- The increase in income will support the oversight of sports wagering and then be dedicated to the Kentucky permanent pension fund. The state established an excise tax on sports wagering: 9.75% on the adjusted gross revenues at a licensed facility and 14.25% on online or smartphone wagers. Additionally, 2.5% will support the Problem Gambling Assistance Fund.
- In October 2022, Great Canadian Entertainment announced that guests can now make in-person sports bets at ten Ontario destinations. Four of its destinations, including Great Blue Heron Casino & Hotel, Elements Casino Brantford, Shorelines Casino Belleville, and Pickering Casino Resort, launched reliable sportsbook lounges called Great Canadian Sportsbooks, where sports lovers can enjoy their favorite game-day food and beverage options, watch live games and place bets at one of the available kiosks. The lounges will have team members available at peak times who can reply to any new service inquiries and take wagers from customers.
Get Analysis on Important Geographic Markets
Download PDF
