SportsGrid CEO Lou Maione Predicts Online Sports Gambling to be Worth $250B by 2024
SportsGrid president Lou Maione sat down on Mornings with Maria to discuss the growth of online gambling in New Jersey. Fox Business noted that Atlantic City casinos and their online partners have already generated $433 Million through last month and could end the year with $460M for 66% year over year growth. “I think it is going to be a $250B industry by 2024, so is (the growth) surprising? To me, no.”
Maione discusses the legalization of sports wagering from a federal level and some of the recent changes at a state level. Maione highlights some of the complicated decisions with New York State’s decision to legalize it only in land-based locations and why many New York customers may be traveling to New Jersey to place their online wagers. “At SportsGrid it is all about value, all about playing position like the financial markets… as the games go there is time value and intrinsic value” and highlights the Kansas City Chiefs as a team that was available at +750 or +850 to win the super bowl but has seen their odds fall after securing a 1st round bye with their win and the Patriots loss to the Dolphins.
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