Google has seemingly completed their evolution on legal sports betting and is now ready to allow gambling apps to be downloaded on its Google Play store, starting March 1. During the COVID-19 pandemic, sports betting apps have been an integral part of an industry that has grown exponentially, while at the same time generating some much-needed tax revenue to participating jurisdictions.
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19 countries, including the US will gain access to a wide variety of sports betting apps, including fantasy sports through one of the biggest and most important distribution platforms in the world – the Google Play Store. Allowing such downloads is a marked change from Google’s previous policy that made download of such apps more difficult.
Some Details
Google’s plan to offer mobile sportsbooks in their Store is a serious step forward for the legal, mobile sports betting industry. Previously, only iOS users were able to easily download mobile sportsbooks from the Apple App Store.
Now Android users will be able to bypass downloading these sportsbook apps via third party methods or directly from the sportsbook’s website. They, along with iOS users will now be able to download their favorite sportsbook straight from the Google Store.
Simply put, access to mobile sports betting apps just became a whole lot easier for ALL that use a mobile device to throw down on their favorite team.
The sports betting apps on the Google Store are compelled to comply with the laws in the countries and states that they are available, according to Google’s Developer Program Policy for Real-Money Gambling, Games, and Contests. Of course, apps will have to come from providers with a valid and current gambling license in the jurisdiction it is being offered.
Any gambling app available on the Google Store must be free for download – purchase of any betting app will be prohibited. The apps will need to be classified as AO (Adults Only), and there must be a clearly marked section attaining to responsible gambling.
What the Ground-Breaking Announcement Means
Sportsbooks, particularly ones with a mobile app have been doing just fine in the US legal sports betting scene. Most states with a robust mobile platform have consistently been reporting 85%, all the way up to 98% of their record monthly handles coming from internet betting. Billions of dollars every month in the US is spent on wagering apps and millions in tax revenue are generated for state and local coffers.
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Aubrey Levy, theScore’s VP of Marketing & Content recently said: “This is a significant development for all sports bettors on Android and unlocks a huge market for mobile-app only sportsbooks like ours.”
Google’s relaxing of a previous support-reluctance will open legal betting apps to a whole new audience and make it easier for prospective bettors to download an online sportsbook. Google’s announcement represents a huge opportunity for sportsbooks to reach a bigger audience immediately after March 1.
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The Financial Effect
Not surprisingly, stocks in publicly traded sports betting companies such as Penn National Gaming, theScore and one of the two US DFS giants reacted favorably with the announcement. Each company saw their stock immediately rise between 4% and 7% with the news of Google offering their products for download.
It isn’t only the companies’ share prices that will see an increase with Google getting on board with sports betting apps. It is ultimately the companies’ bottom lines and the tax coffers they support that will see a spike because of the newfound ease of downloading a bettors’ favorite sports wagering app.
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Everybody wins with Google’s newfound sports betting app acceptance. Quick evolution has been a theme in the US legal sports betting industry since 2018. It was only a matter of time before Google got in on the action.