What is driving the NFL’s tremendous revenues and international growth?

WASHINGTON (TND) — The National Football League has become a cornerstone of American culture, generating record profits and a growing fan base. But how did it achieve such levels of popularity?

Fan engagement is a big part of the NFL. The American Gaming Association expects a record $35 billion in legal bets to be placed on the NFL this season. A St. Bonaventure/Siena Research study found that 70% of Americans consider themselves football fans.

The NFL remains the most watched sports league in the U.S. by a wide margin, according to the latest Nielsen data. The Super Bowl consistently reaches more than 100 million viewers each year, according to FiveThirtyEight

According to the Fantasy Sports and Gambling Association, 60 million people participate in fantasy sports betting each year.

“As the legal sports betting industry continues to expand and mature in the United States, the 2024 season is expected to be the season with the most legal wagering among the seven NFL seasons with legal wagering,” the AGA said.

Those legal sports bets are up about 30% from the $26.7 billion Americans wagered last season. NFL-related bets make up about 40% of the total U.S. sports betting market

As more states legalize sports betting, the industry is likely to grow even more.

According to Sportico, the NFL earned around 18 billion in 2022, making it the most profitable sports league in the world. Most of this revenue comes from media deals, for example, in 2021, the NFL signed a series of broadcasting deals worth over 110 billion with networks such as CBS, NBC, FOX, and ESPN.

But Americans aren’t the only ones who watch the NFL; it has expanded internationally. The league has hosted games in London and Mexico City, increasing its global visibility.