![]() With limited manoeuvrability in attracting fresh customers in existing markets, given the ubiquity of handsets and contracts, the industry was one where cannibalization was rife. The current scenario reminds me of the fight for customers when the cell phone market reached maturity. Time will tell whether its licensing deal with Penn Entertainment to create ESPN BET will succeed where FOX Bet faltered, but even with the best technology and app, it promises to be a tough battle for repeat custom. Throw BetMGM and Caesars into the mix and the remaining share of the market being fought for is a mere seven per cent.Īgainst that background, and with smaller operators opting to pull out of the race altogether, it will be interesting to watch the new ESPN Bet and Fanatics Sportsbook foray into a market that we can now characterize as mature. There can’t be too many committed sports bettors living in states where regulation is live that haven’t at least considered signing up with the two giants. Brad Vettese, CEO of Tally Technology Group, explains how and why sportsbooks in the United States should consider opening up a whole new audience segment.Ī theory has been floated that sports betting across the United States has reached a critical juncture in its growth cycle.įanDuel and DraftKings accounted for over 75% of market share according to figures released earlier this year, at great cost in terms of marketing spend.
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