IGT poised to leverage US sports betting growth with dedicated tech and leadership

US sports betting industry spread does not slow down, and it has seen a 270% increase since 2020. One of the providers leading the way for legalized sports betting in the US is IGT, whose PlaySports platform is already the most employed technology for sports betting and is only getting larger.

The market is on an upward trend, as proven by 2021’s numbers. There were already $27 billion in bets placed in the first seven months of this year, with $1 billion of that coming from New Jersey in September alone.

An example of IGT's focus and investment in this boom, and the exponential growth in the company’s PlaySports sector, is the appointment of former William Hill US CEO Joe Asher as new President of Sports Betting, effective October 1. Upon this announcement, he described the current scenario as a unique moment in the North American gaming industry, as sports betting keeps expanding at a fast pace, and opportunities thrive.

With over 26 states on board, others are following suit. Louisiana sports betting could be going live at state-licensed gambling properties as early as November 1. Due to their large number of residents, California and Florida may be next on the list. Many tribal casinos already offer sportsbooks, and more are ready to get in on the action. Per the American Gaming Association, legalized sports betting “will deliver powerful economic benefits, possibly generating $8 billion in local taxes, creating hundreds of thousands of jobs, and adding $22.4 billion to the gross domestic product.” 

Within this framework, IGT is already poised among industry leaders with its PlaySports technology, present in over 50 venues in 7 states. 

Though online betting continues to boom, retail and in-person wagering are not replaced. Therefore, an integrated approach of both internet and in-person betting is becoming more promising, taking for instance New Jersey's recent record-breaking revenue, driven by internet casino software providers.

IGT has responded to this approach by adding dedicated iGaming and sports betting areas to the company. These will support its existing Global Gaming and Global Lottery divisions. IGT is also progressing the industry further with its advancements in Cashless resort technology. Its IGTPay Solutions and ResortWallet creations won “Product Innovation of the Year” in the 2021 Global Gaming Awards.

In addition, the future of sports betting is bringing new options such as multigame platforms. Besides mobile betting, land-based casinos are also offering bettors new self-service options. In that area, IGT’s CrystalFlex allows users to wager while they watch live sports, play keno, slots, or poker from the privacy of their own terminal.

In a recent development, fans are now able to place bets at actual sporting events in select areas. IGT partnered with FanDuel to open a sportsbook at the Footprint Center in Arizona. People can wager on major US sports, including professional football, baseball, basketball, hockey, racing, and more.

With sports betting established as the fastest growing online gambling market in the US, land-based flourishing, more states joining the market, new technology, and opportunities to bet at live sporting events, interest is at an all-time high. IGT’s PlaySports platform stands at the forefront of the sports betting wave, both digital and retail.