Oddsmakers Expect More than 20,000 Engagements in PA, 500,000 Nationwide
Recent studies show that nearly 40% of all wedding engagements occur between November and February. According to the gambling industry, this year’s “proposal season” is going to end with a bang, with many lovebirds getting more than the typical flowers and chocolates.
US-Bookies.com, the online gambling intelligence hub that houses our network of state-based betting websites, including Bet-PA, predicts that over 500,000 engagements will occur in America on February 14th. As of now, the over has better odds (8/11), meaning the actual number will likely be more than a half million.
Pennsylvania Love Story
Love will indeed be in the air, according to US-Bookies betting industry analyst Alex Donohue. “We’re expecting more overall engagements in Pennsylvania than many other states, which isn’t particularly surprising given the fact that it’s one of the most populous states in the US. It’s still exciting to see that such a large amount of couples will celebrate the holiday with more than just a typical romantic dinner.”
The magic number is set at 20,000, meaning more than one in every 640 Keystone State residents is expected to become engaged on February 14th. Pennsylvania will account for 4% of total country-wide engagements in what is set to be a tremendous year for those who enjoy a good romance. With 86% of couples announcing their engagements on social media, we can expect to see a lot of these love stories in social feeds. Like the overall US number, the smart money would be on the over for Pennsylvania engagements, which would add to the idea that romance is alive and well. Whereas jewelry accounted for 18% of Valentine’s Day spending last year, the rising demand for diamond rings may cause that to increase in 2019. From a sheer volume standpoint, some may say that Pennsylvania could be one of the most romantic states this year.
Oddsmakers Predicting Romance
Because betting on such a subject is not legal in the US, nor is it as popular overseas as sports gambling, these odds are merely a hypothetical prediction based on statistics being analyzed by the gambling industry. However, they do indicate that the consistently rising average age of first marriage in the US does not mean that love itself is on the decline. In fact, the increasing average price paid for engagement rings, which has risen to $7,735 in Pennsylvania, could mean that the patience is literally paying off. So there are good reasons that younger generations aren’t as quick to wed.
The V-Day proposals could also be related to Millennials now being in the prime ages to tie the knot, as a James Allen survey found that over 41% of married respondents aged 25-34 said they would have liked it if their partners proposed on Valentine’s Day. Based on this, single Millennials may favor popping the question on the holiday. Additionally, the average marriage age of Pennsylvanians is just over 29, and recent data suggests about 13% of Pennsylvania’s population falls between the ages of 25 and 34. So, as more people enter a more financially and professionally comfortable stage of their lives, they may be more inclined to settle down.
Possible New Outlet
Despite the lack of related legislation, these odds should not be ignored, as they are an example of how wagering data can be used for more than sports odds. Currently, sports betting is the hot topic in the wagering world, and rightfully so, as it brought in more than $800,000 in tax revenue for the state of Pennsylvania in its first two months of operation.
What we’ve learned from the Keystone State so far is that there is a significant demand for more accessible gambling, and the state government can benefit from it. Beyond sports, other possible revenue streams would exist if legalized, such as reality TV, awards shows, or even whether Punxsutawney Phil will see his shadow on Groundhog Day. However, the benefits of these gambling outlets are likely reliant on online and mobile betting. Whereas sports have the draw to bring people directly to the sportsbooks, these more casual types of bets won’t be as profitable unless people can place them from the comfort of their own homes.