NHL annual revenue could increase by $216m thanks to legal and regulated sports betting, according to a study commissioned by the American Gaming Association (AGA).

The study was carried out by Nielsen Sports who surveyed over 1000 US adults ranging from sports fans to self-identified sports bettors.

According to the study, the NHL could see a 3.5% revenue boost from the consumption of its content and products, producing $151m in annual revenue.

Consumption of content includes media rights, sponsorships, merchandising and ticket sales.

In terms of gaming-related revenue, the NHL is projected to see annual revenues of $65m.

Breaking this down, $24m will come from major league TV advertising, $35m from sponsorship revenue and $6m from league data for third-party services.

Sara Slane, Senior VP of Public Affairs for the AGA, said: “Today’s announcement reaffirms that legal, regulated sports betting will create significant new revenue opportunities for sports leagues.

“Much like the NHL’s recent successful expansion into Las Vegas, legal sports betting will continue to expand across the country, bringing with it a $216m opportunity for the league.”

Slane recently gave testimony at the sports betting hearing held last week where she discussed the benefits of legal and regulated sports betting.

The hearing was held by The House Subcommittee on Crime, Terrorism, Homeland Security and Investigation.