Social media is one of the sectors that affects virtually every single form of media and entertainment. Sports betting has not been left out in this. In 2017, GambleAware reported that the gambling industry had spent approximately £149 million on social media advertising.
Less than a decade later, a follow-up report in June 2024 showed that the overall amount spent on marketing (inclusive of social media) had risen to £1.5 billion. You can be sure that the amount set apart for social media was a big chunk of the overall.
But maybe you might be wondering what role social media actually plays in the sports betting scene. If you do, then this article is just for you.
The popularity of social media platforms
According to a report by the UK Gambling Commission, at least 49% of the people surveyed had seen a gambling ad from a social media platform. The larger proportion of them came from the Gen Zs and Millennials, with most of the older generations having seen the ads on TV.
Right now, if you meet a person in their 20s or 30s making a bet, then most probably they saw an ad on TikTok, Instagram or X. This is because a big percentage of this demographic population actually follows sportsbooks on social media sites. And just so you know, a survey has shown that punters on X spend at least 15% more annually on bets compared to other rival sites. The individual tipsters on the socials have hundreds of thousands of followers, making sure that sports betting is widely known all over the globe.
As more people get to see gambling ads from different sites, so does the popularity of those sites. It is, therefore, no coincidence that sportsbooks are spending millions of dollars year in year out.
The new way of consuming sports
Now, it’s interesting that social media is slowly becoming the new way of watching sporting events. Well, we are not saying that TV has stopped reigning supreme when it comes to watching live sports. For example, the 2022 World Cup attracted at least 1.5 billion viewers while Super Bowl LVIII was being viewed by at least 200 million people. However, the dynamics are slowly changing.
A 2023 survey by Statista revealed that 70% of Gen Zs and 68% of Millennials use social media when watching sports. After the games time is done, the number of tweets, hashtags, video clips and betting promos clearly show that social media is a big influence in making the world of betting grow. If you want to make a bet, just watching and following up on social media might give you a pretty good idea of what to do.
If we would redefine “consuming” sports to include engagement with social media, then it would be safe to say that social media is the primary way of consuming sports activities today. And that works really well for the sports betting industry.
Information at your fingertips
One of the biggest ways that social media influences sports betting is by providing easy and fast access to information. Today, the social media setting provides endless access to real-time updates, trends and data. We are speaking about the live scores, expert bet tips, odds, in-depth analysis, etc. (whatever you would require to make an informed decision). You just swipe on your phone, and you have everything you need, plus even more.
This kind of access allows you to stay up-to-date with whatever is happening and how well you can adjust your bets. Once you curate your account to follow reliable accounts and experts, then you are sure that you can get insight that will help you make informed decisions as you bet.
Sports betting influencers and tipsters
One role that can never be replaced in the sport betting world is a betting tipster. Their main role is to provide betting tips that bettors might follow and it gives great results. Although you can’t give a 100% guarantee for tipsters, there are some who have built a reputation for their consistent success.
A good example of a successful tipster is Kevin Pullei, the legend. Kevin delivered 27 consecutive seasons of success with his tips for the Racing Post, Sporting life and Racing & Football Outlook.
Most of the tipsters and influencers are on social media platforms, particularly X. Some of the prominent ones include:
- AllWeatherMan: Specialized in horse racing tips
- Matchbook Betting Exchange: Come up with podcasts that give advice for betting on everything, including the Premier League, Super Bowl, NBA, and whatever league you might think of.
- Mark O’Haire: Mostly deals with football but gives analysis on a variety of sporting events.
The influence of tipsters and influencers cannot be underestimated. In fact, if a good number of people are led to bet a particular way, then the influence can directly impact the available odds. People may decide to bet on what they are seeing on social media channels rather than being objective. For savvy bettors, here is where you can take advantage of the shifting odds and value bets.
Final say
There is no doubt that social media is very instrumental in the growth of the sports betting market. For many people, it has become the new way of accessing and consuming sporting activities. However, as a bettor, beware that social media might also come with its own disadvantages.
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