“Content companies…” This combination is pure gold for sports betting because it has been proven that quality content leads to more betting from sports fans at all levels. “
Dave Torres, owner of Prime Sports Consulting, said that sites like The Athletic which have built an audience of sports fans are an obvious target for sports betting sites. “This is the primary audience they are looking for to grow their customer base and a place where they can promote their sports betting sites and have the highest likelihood of getting the highest conversion rates,” Torres said. “Ultimately, they will use it to convert the more than 1.2 million subscribers to sports betting users in the hope that these new users continually bet on sporting events and often lose their bets, which pays off. more profits to the company. “
Some sports outlets have started to launch their own sports betting. Sports Illustrated, for example, has teamed up with betting company 888 this year to create the Sports Illustrated Sportsbook, first launched in Colorado with other states to follow. Fox also got into the betting game when it launched. Fox bet in partnership with The Stars Group, while Disney-owned ESPN explores Licence its branded to major sports betting companies for at least $ 3 billion over several years. Caesars Entertainment and DraftKings are said to have been part of those discussions.
Sports betting apps are already surpassing daily fantasy sports apps in adoption, intelligence firm says Sensor tower. The five most popular apps together saw downloads more than double year-over-year in the third quarter, representing 177% year-over-year growth this quarter. The Google Play app store began licensing gaming apps in the United States in March.
“In the United States, where online sports betting is still in its infancy, the brand visibility of DraftKings and FanDuel, along with several physical online sports betting, has created a different competitive environment,” said Dennis Yeh, analyst at Sensor Tower. . “This dynamic, in addition to state-by-state legalization, will likely allow for more competition and for services to have different regional priorities. “
So far, 24 states have legalized sports betting, open the betting market to certain 111 million Americans, according to the American Gaming Association. In addition, some states have law Project legalize sports betting, ranging from limited online betting to in person only betting. New Jersey, one of the largest markets, in September became the first state to reached $ 1 billion in monthly sports betting. Nevada, Pennsylvania, Illinois, and Indiana are among the other top states for highest stakes. More states could accede to these ranks after the The Supreme Court struck down a law which banned sports betting in all 50 states, effectively legalizing sports betting in 2018.
“A major factor triggering increased interest in sports media is the rise of legalized online sports betting,” said media expert Jack Myers. “Category is the fastest growing advertising category. … There is a rapidly growing market for news and reporting.
Fantasy sports and aggregated content through outlets such as NFL RedZone are adding to the demand. Even fringe sports, from lacrosse to darts, are gaining popularity, Myers added. This year’s surge in online betting was also largely due to the start of the NFL season in September, when sports betting apps recorded their best month of monthly downloads in the United States, according to Sensor Tower.
Based on the American Gaming Association research in September, a record 45.2 million Americans will bet on the NFL season, up from 36% since the 2020 season. Some 19.5 million people said they would place a bet online, up by 73% compared to 2020.
The top five downloaded apps in the first half of the year were FanDuel, DraftKings, BetMGM, Barstool and Caesars, according to data from Sensor Tower. First, FanDuel merged in 2018 with Irish bookmaker Paddy Power Betfair, which now operates under the name Flutter Entertainment with a host of brands including Fox Bet, Betfair and Sky Bet. In 2016, FanDuel and its main competitor DraftKings announced their intention to merge – a deal that was canceled the following year after the Federal Trade Commission blocked it. The two companies are said to have jointly controlled 90% of the daily fantasy sports market.
The space will only get more competitive as companies focus on turning sports fans into sports bettors, especially through their content. Mergers and acquisitions are not running out of steam, von Behr noted, and we could see more sports outlets in the mix for sports betting down the line.
“Overall, being SOEs, they are judged by market share and audience size,” said von Behr. “As we look into next year, there will always be that demand. The challenge is the supply of quality assets that people will acquire. If a number of larger and better performing affiliates have already been acquired, this will create a premium for those still available.