SBC News Voice of the Sports Betting Industry
Kambi’s 2024 Tribal Sports Betting report showcased strong returns on handle across both on-property and online segments.
The Nasdaq Stockholm-listed company is currently partnered with some of the largest tribal casinos in the US, such as Potawatomi, Mohegan Gaming and Entertainment, and Four Winds, among others.
Strong 2024 retail performance saw Kambi’s products deliver 54% more on-property handle compared to 2023, with the number of bets increasing 74% YoY.
Online handle for 2024 was up 32% against 2023, while online bets grew 51% YoY. This led to combined 2024 handle growth of 51% YoY, with combined bets up 72% against 2023.
The US is proving itself one of Kambi’s most valuable markets, with the European firm, like others, targeting opportunities in the rapidly growing sector. Its financial results, published earlier today, acknowledged challenges in Europe but identified opportunities in both the US and Brazil.
Kambi’s retail breakdown
A three-year trend saw the number of bets placed at casino kiosks increasing. In 2022, the percentage between kiosk bets against over-the-counter (OTC) bets was 84% versus 16%, in 2023 this was 87% against 13%, while in 2024 the ratio was 89% vs 11% – showcasing the customers’ preferences.
Bet Builder OTC vs kiosk bets showed a similar dynamic. In 2023, OTC bets were 10% against 90% kiosk Bet Builder bets. In 2024, this was now 7% OTC against 93% at kiosks.
Across online and on-property, the most popular sport to place a bet on was American football at 31%, followed by basketball (29%), baseball (20%), other sports (9%), soccer (6%), and ice hockey (5%).
Similar results were seen across Bet Builder bets as well, with American football taking the top spot (45%), basketball coming in second (35%), baseball in third (14%), and soccer and ice hockey sharing 3% between each.
Casinos preferred during major events
The practice of placing a bet at a physical location during major sporting events like the Super Bowl, NBA Playoffs and March Madness proved popular among consumers.
Tribal casino properties saw a 75% increase YoY in handle during the 2024 Super Bowl compared to the same period in 2023. Growth during the NBA Players stood at 12%, while March Madness delivered a 49% growth in 2024 compared to 2023.
One final highlight from the report was the conclusion that a quality cash out tool is of utmost importance. According to Kambi, half of online bettors that cash their bets out reinvest in a new bet within five minutes if they are offered a convenient option.
David Bretnitz, Kambi VP of Sales, Americas, concluded: “The tribal gaming market continues to be a driving force in the evolution of the US sports betting landscape.
“Kambi is proud to be a trusted partner to tribal operators across North America, providing cutting-edge technology and tailored solutions that empower tribes to maximize their sportsbook potential both online and on-property.”
