LendingTree Survey Reveals Interesting Sports Betting Data

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The 2022 NFL season is in full swing, and sports betting has never been more popular in the US. With a historic opening weekend, according to data analysis company GeoComply, the 2022 NFL is poised for a record-breaking year. The growing industry has generated some interest from the popular lending marketplace company, LendingTree.

LendingTree was formed in 1996 and is headquartered in Charlotte, NC. LendingTree partners will loan service providers to list loan offerings on its website. The company doesn’t actually provide the funds for the loan. They simply connect the customer with the lending company they’re most interested in using LendingTree’s online loan marketplace. As with many nationally recognized tech brands, LendingTree is interested in the effects of sports betting and online gambling and the potential money to be made from the activity.

The survey conducted by LendingTree was given to 1,600 sports fans of all different ages. The data collected shows some interesting data about sports bettors. According to the report, around 15% of fans responded that they’re planning on wagering in some form on the NFL season this year. That 15% was broken down into two categories by the survey. Of the 1,600 participants, 7% responded that they plan on wagering in some way in fantasy sports. This could be just with friends or on a daily fantasy sports site. The other 8% of respondents said they would place real money wagers on sporting events. 

This 8% plans on wagering quite a bit, however. 33% of respondents said they plan on wagering at least $1,000 on sports wagering and/or fantasy sports this NFL season. The survey also reported that 3% of respondents said they were planning on wagering at least $3,000 during the 2022 NFL season.

The report also detailed what the average American plans on spending on sports, in general, this fall. According to the survey, the average American will spend $664 on sports this fall. That figure includes tickets to games, apparel, food, hosting parties, as well as wagering on sporting events. 

Vegas is still a sports-wagering destination

The survey conducted by LendingTree also reported that 8% of survey participants plan on heading to Vegas for at least one game this season. Allegiant Stadium (home to Las Vegas Raiders) reported a season attendance of 468,858 last year. Las Vegas is also home to the NHL team, the Golden Knights, who play at the T-Mobile arena. The two arenas are likely to continue bringing fans to the Vegas area for years.

Vegas is also hosting its first Formula one race next year. The 50-lap race is set for November 18th, 2023. The city is expecting the event to bring in 170,000 people. Las Vegas is also hosting several March Madness games next year from March 23rd – 25th, likely bringing more sports fans to sin city. 

Sports betting set to break records this year

The NFL season started with a bang this year, up 71.5%, according to data by GeoComply. The fall 2022 sports season is the first fall sports betting season for states like Pennsylvania, Kansas, and Louisiana, which legalized the activity this year. With the start of the NHL, NBA, and NCAA later this month, the total wagered on sports betting this year is likely to continue to rise. 

Looking further ahead

Ohio regulators announced that sports wagering will begin on New Year’s Day in the state

Massachusetts Gaming Commission released a statement announcing a timeline for sports wagering in the state. MA Governor Charlie Baker signed sports betting into law on August 10th, 2022. Now state officials are planning on launching retail sports betting in January 2023 and online sports betting in February 2023.

Mac Daniel is a Pennsylvania native and freelance writer for PlayOnlineCasino and PlayOnlineSportsBetting. He has experience writing about a wide variety of topics, including healthcare, tourism, non-profit organizations, and most recently casino and sportsbetting news. To check out more of his work, visit: playonlinepennsylvania.com