As legal sports betting spreads through the United States, there’s a major market sportsbooks might be missing out on: women. A new study from marketing agency Hot Paper Lantern found that one-third of bettors in the U.S. are women, an underserved consumer group ripe for growth.

The number was higher than many industry insiders interviewed by Sportico expected, but data from the American Gaming Association supports these conclusions: In 2019, the organization found 32% of past-year sports bettors were women.

Dr. Laila Mintas, CEO of Australian sportsbook PlayUp’s U.S. operations, said this presents a massive opportunity for the industry. “I strongly believe it’s a totally unserved and untapped market,” Mintas said in an interview.