According to an article by Front Office Sports, sports betting companies spent $1.2 billion on acquiring new U.S. customers in 2021 and that figure is expected to reach $2.1 billion in 2022.

From the article:

The NFL began allowing up to six sports betting commercials per game this season. Turner Sports, which broadcasts the NBA, NHL, NCAA, and MLB, expects to make more than $400 million off of sports betting commercials from DraftKings and FanDuel-owner Flutter Entertainment over the next three years.

DraftKings more than doubled its sales and marketing spending in the first nine months of 2021 to $703 million, led by $303.7 million spent in the third quarter.

FanDuel had spent over $1 billion on marketing as of June 30, and said it is the landing spot for 40% of new sports betting customers.

Flutter noted in its earnings report that it sees an average one-year return of 1.2 times the cost of customer acquisition.
Read more here: