Kambi has published its Tribal Sports Betting Report 2024, highlighting a dramatic increase in betting handle among its tribal operator partners. According to the group, its North American tribal clients saw a handle increase of 128% between 2022 and 2023.
The increase in handle was driven by a number of factors, including the growing popularity of sports and sports wagering as a while. Land-based customers, according to Kambi, wagered 159% more on March Madness in 2023. The total volume of bets, on the other hand, increased by 63%.
March Madness 2023 was not the only event that saw an uptick in tribal gaming activity. Handle during the NBA Playoffs, for example, increased by a staggering 99% compared to 2022. The number of bets, on the other hand, increased by 145%.
Overall, basketball was the second most popular sport among tribal operatorsβ bettors and was responsible for 27% of all bets. While 34% of the total bets were placed on football, basketball reigned supreme in terms of handle with 44% of the total betting handle recorded by Kambiβs tribal partners. Football, on the other hand, was responsible for only 19% of the handle.
The third place was occupied by baseball, which comprised 20% of the total bets and 18% of the total handle. Ice hockey and soccer struggled to catch up but still comprised a respectable share. Finally, 8% of all bets and 13% of all handle was attributable to other disciplines.
Many Players Reinvested Their Winnings
Kambi also reported that a huge number of tribal betting customers reinvested at least some of their winnings. According to the Tribal Sports Betting Report, 48% of retail and 62% of online customers who won a bet, placed another one within 10 minutes of their win.
In the meantime, 59% of retail customers and 79% of online customers had placed at least one extra bet an hour after a win. And, within 24 hours of winning, 77% of retail customers and 94% of online customers had placed at least one new bet.
According to Kambiβs vice president of sales, David Bretnitz, tribal companies know how to engage gamblers and sports aficionados. He explained that his team is excited to continue providing its tribal partners with the solutions they need to attract and keep players.
Whether it is retail, online, or both, Kambi is committed to delivering the right experiences to attract US bettors and more importantly provide our tribal partners with the resources necessary to retain them long-term.
David Bretnitz, SVP of sales, Kambi
For reference, Kambi works with tribal operators across several markets, including Arizona, Michigan, New York, Pennsylvania, Washington and the Canadian province of Ontario.