Posted on: December 31, 2020, 12:02h.
Last updated on: December 30, 2020, 03:38h.
VSiN, the Vegas Stats & Information Network, is taking its distribution to iHeartRadio in hopes of growing its audience, and subsequent advertising revenue.
As of January 1, 2021, the sports betting network will stream its radio content through the iHeartRadio platform for free. iHeartRadio is a no-cost radio and podcasting streaming service, and is the largest radio broadcaster in the United States.
We’re thrilled to build on the success we’ve had with iHeart on the podcasting and betcasting front to announce an expanded partnership that will help us offer a better product to a broader audience for free,” said Brian Musburger, founder and chairman of VSiN.
Musburger said removing the subscription requirement, which was the case when VSiN’s radio content was broadcast through SiriusXM, will allow the sports betting programming to reach a wider audience. The VSiN founder explains that the goal is to have 24/7 live programming “in the very near term.”
The Musburger family launched VSiN in 2017. Famed sportscaster Brent Musburger, the family patriarch, left ABC and ESPN that same year to join VSiN full-time. Known for long referencing odds during live broadcasts, his presence immediately provided the sports betting network with credibility.
VSiN streams live programming over the internet from its studios at the South Point Casino in Las Vegas. The network additionally streams an audio simulcast of its programming on the radio. Before this week’s announcement, listeners had to tune into SiriusXM channel 204 with a subscription.
VSiN has worked with iHeart since February of 2020, when the two entities announced a weekly radio stream covering two XFL games and EPL soccer matches in real-time.
Moving VSiN audio casts to iHeartRadio makes the programming 100 percent free to sports bettors.
SiriusXM reports having 34.33 million subscribers as of the third quarter of 2020. iHeartRadio’s customer count totals 128 million.
“[iHeart] not only allows VSiN to get to more listeners on more devices, but also to capture more advertising revenue as legalized sports betting continues its rapid spread across the US,” Musburger added.
Twenty-five states, plus DC, have passed laws to legalize and regulate sports betting. Operations are up and running in 19 and DC.
Sports Betting Thriving
2020 will be a year few will want to relive. But sports betting has only flourished over the past 12 months. The odds are strong that the industry will see further gains in 2021.
VSiN is hoping to lead the way in online programming and radio broadcasting in the sports betting space. Along with specific commentary on odds and lines, VSiN and iHeart are setting out to educate newcomers.
iHeartRadio is the ideal platform to enable this team to reach an even larger audience, and to educate and entertain more sports fans on the betting industry,” said iHeartRadio President Darren Davis.
Morningstar is forecasting a $6.2 billion sports betting revenue opportunity in 2024, roughly $35 per adult in each legalized state.
“We expect US athletic events seeing an estimated roughly $81 billion in legal placed bets in 2024,” a Morningstar note in October predicted. “This wagered amount will generate $6.2 billion in revenue (assuming a 7.5 percent hold rate).