Sports betting is a top trend for local TV. The opportunity for ad revenue is so compelling that TVB recently published a study on TV and sports betting. On this episode of Beyond Impressions, Hadassa Gerber, executive vice president and chief research officer for TVB, spoke with Marketron senior vice president of product Jimshade Chaudhari about the study and more.
“We looked at 13 states that allow online sports betting, with a sample of 1,500 who were exposed to advertising in some way. We reviewed 20 different media platforms and looked at what was important in awareness, consideration and placing the bet,” Gerber explained.
There were some expected results, like that the demographic for bettors is two-thirds male and skews young. There were surprises, too. “It’s not a rich man’s sport; the sweet spot was households with fifty to one hundred fifty thousand,” Gerber said.
The study asked bettors about their media consumption habits and influences. Broadcast TV was by far the biggest influence throughout the process. The study also found that 96% of participants said TV ads impacted how they searched for sports betting apps.
Gerber also described the correlation between local TV news watchers and sports betting. Those viewers were more apt to be a target market for sports betting advertisers. However, users are fickle. “We asked if they’d be swayed by a competitive offer, and all but 6% said they would. It’s easy to lose somebody to competition, so they have to be out there advertising,” she shared.
Next, the pair chatted about another TVB study, Media Comparisons, which explores how people consume traditional, digital and streaming media. One key finding that’s great news for local is that broadcast TV has the highest reach. It’s also the top local news source and most trusted.
Hear more insights from Gerber by watching the interview.