Sports betting will see record inflows this NFL season: Analyst

With the NFL season set to kick off on Thursday, sports betting platforms are anticipating record levels of wagers on their platforms. Citizens JMP senior equity research analyst Jordan Bender joins Market Domination to discuss the outlook for the sports betting industry.

Bender notes that sports betting has been and will continue to be "an integral part of actually growing the NFL itself." He estimates the NFL could see a record $33 billion in wagers during the upcoming season.

"What we're seeing is the evolution of a lot of these sports betting companies innovating, coming up with new products to drive new users and new customer acquisition into the space. The more eyeballs on the game, the more betting that's going to happen along the way," Bender told Yahoo Finance.

However, Bender acknowledges that while the sports betting boom has seen tremendous growth, there is now a slowdown occurring. As a result, sports betting platforms are tasked with creating new ways to innovate and maintain user engagement in the face of these challenges.

"It's how you continue to drive more revenue out of that existing player, out of new people," Bender told Yahoo Finance, noting investors will be watching to see how these business maintain growth.

Watch the video above to hear how Bender views the betting landscape for WNBA games.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Angel Smith