Sports betting entrepreneurs have been trying to build platforms with social features to equal Twitter and Facebook ever since online betting was a possibility.
That may have been needed in the early 2000s but has not been an issue for 15-plus years, as there is no lack of social media platforms for bettors to share their action.
New data from Twitter supports the notion that it is tops among sports bettors who want to share their experience with friends. The platform released data on sports betting for the first time last week that suggests the platform is the preferred resource for bettors before and after placing their bets.
The facts about sports betting and Twitter
Seven out of 10 sports bettors use Twitter, according to survey data released by the company. The platform is ranked as the top place to stay up-to-date on opinions, predictions, injuries, odds and other related news.
A third of bettors surveyed said they would not make any bets if it was not for the information gathered on Twitter. That makes sense considering 51% of those bettors started betting less than two years ago.
It is not just used for pre-bet decisions, either: Twitter is where 72% of bettors follow the status of their live bets once they’ve been placed.
Sportsbook value high
Bettors using Twitter might be more valuable to sportsbooks, too.
Bettors on the platform spend 15% more on bets annually compared to bettors on other platforms. Nearly two-thirds of Twitter bettors, 62%, bet weekly, which is more frequent than bettors from other platforms.
The flurry of tweets surrounding big events also affects betting decisions. Sixty-five percent of bettors on Twitter are “most motivated” to bet on an event everyone is talking about.
Dynamics of Twitter survey
Surveys should always be taken with a grain of salt, especially when they tout their own success.
Twitter surveyed users in its Twitter Insiders Studies that are 18 or older and bet on sports within the last 12 months in a legal state.
That could suggest a bit of skew in the results. Users involved in the the program are probably more likely to use Twitter than any other platform, given their additional involvement.
Twitter would not disclose the number of users surveyed or the total currently in the program.
Social sports betting has not caught on
LSR tackled the social betting topic in July 2021, and not much has changed.
There is only one true peer-to-peer social betting app in the US. That is Wagr, which was approved to launch in Tennessee last September.
The app allows customers to place custom bets with friends and includes an in-app community tab, though the features are limited. Wagr representatives did not respond to LSR to comment on the story.