Sports Betting

FanDuel Sportsbook

FanDuel Becomes Latest Betting Company To Push Into Content Creation

  • FanDuel and SportsGrid will create 50 hours a month of original content.
  • As sports betting platforms position themselves for more users, content remains critical to securing bettor engagement.

In recent months, sports betting operators have looked to media companies to help them deepen engagement with existing customers while also bringing in new ones. Recent deals include Penn National Gaming’s investment into Barstool Sports, and the partnerships between BetMGM and Yahoo, and Bleacher Report and Caesars.  As the battle for sports betting market share heats up across the country, FanDuel is also getting into the action, partnering with sports betting OTT network SportsGrid in an exclusive content and distribution […]

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Drew Lock

Broncos Further Push Into Sports Betting With Betfred Deal

  • The Broncos are building out a sports betting ecosystem to help drive fan engagement.
  • U.K.-based Betfred has aggressive plans for the U.S. as it looks to build name recognition.

A day after announcing a partnership with FanDuel, the Denver Broncos have rolled out a deal with U.K.-based Betfred as the team’s second sports betting operator partner. That FanDuel deal made the Broncos the first NFL team to finalize a deal with an official sports betting partner after the league changed its policy and allowed them in February. Teams are now allowed to sell official sportsbook sponsorships within their home markets, as well as provide signage and displays for those […]

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Padres Tatis

Monkey Knife Fight ‘Aggressively Open For Business’ As it Builds Platform

  • An upstart daily fantasy sports operator, Monkey Knife Fight signed partnerships with the Padres, Brewers, and a PGA golfer the past three months.
  • Before the coronavirus shutdown, Monkey Knife Fight had 400% year-over-year user base growth.

While many companies tightened their budgets during the coronavirus shutdowns, daily fantasy sports company Monkey Knife Fight was eager to get in front of new users. The growing fantasy sports site signed multiple deals in the past several months, including with the San Diego Padres, Milwaukee Brewers, PGA Tour golfer Charley Hoffman, and esports organization Enthusiast Gaming.  According to the company’s executives, there are more sports team partnerships in the works as well. The partnerships are being strategically placed in […]

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Giannis LeBron

Content Keeps Bettors Nearby as Gambling Companies Wait Out Hiatus

  • Growth in sports media and content in betting apps proving critical in retaining audience.
  • 50% of bettors want engaging editorial content within sports betting app. “They don’t want to go to 14 places to get information,” exec says.

As the coronavirus pandemic shut down sports across the globe, theScore saw its sports betting handle dry up. Still, theScore CEO John Levy said engagement on the company’s media app stayed consistent. While the engagement the past few months wasn’t at the average 100-130 touches a month per user, it was still a daily habit for a majority of theScore’s 4.1 million active monthly users. That, Levy said, bodes well for the betting component when sports come back.  Building and […]

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Golden State

$30 Billion Bet

  • This article was first published in the FOS Daily Newsletter. Subscribe here.
  • California could generate up to $700 million in tax revenue annually from legalizing sports betting.

Sports betting could become legal in California later this year, opening up a $30 billion annual handle. A proposal in the legislature needs to garner 60% approval and be signed by Gov. Gavin Newsom by June 25 to ensure its place for a public vote in November. Analysts estimate California could generate between $500 million and $700 million annually in taxes by implementing a 10% tax on gross revenue for in-person wagering and 15% on mobile or online sports betting. […]

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slam dunk

DraftKings Goes Long

  • This article was first published in the FOS Daily Newsletter. Subscribe here.
  • DraftKings continues to look forward, like in-game betting, as its stock continues to climb.i>

Despite withdrawing guidance for 2020 due to the halt in play, DraftKings CEO Jason Robins said the company plans to hit its 2021 revenue goal of $700 million. The company expects the rebound to start with a busy Fall, headlined by postponed marquee events including The Masters, French Open and Kentucky Derby, in addition to NFL and MLB action. Robins also sees massive potential with in-game betting. While it makes up 75% of revenue in the U.K. market, in-play betting […]

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Dodger Stadium gate

Gamblers Turn to Stocks

  • This article was first published in the FOS Daily Newsletter. Subscribe here.
  • The three largest U.S. stock brokers added nearly 800,000 customers in March and April.

Without sports to wager on, it appears bettors are heading to the U.S. stock market. Three of the four largest U.S. online brokers- Charles Schwab, ETrade, and Interactive Brokers – have combined to add 780,000 new customer accounts in March and April. March is normally a hot time for sports bettors, but with no NCAA basketball tournament, the shift to cheap online accounts helped the market recoup a third of its value from the pandemic-caused selloff. Google Trends data shows […]

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LBJ PG

DraftKings Bullish on the Long Term

  • This article was first published in the FOS Daily Newsletter. Subscribe here.
  • DraftKings revenue was up 30% in the first quarter even with the lack of sports.

Even in the face of a pandemic, daily sports and fantasy sports betting platform DraftKings experienced 30% year-over-year revenue growth in the first quarter. The gains however, weren’t enough to prevent a net loss of $68.7 million on its $88.5 million in revenue, marking a worse than expected performance. The revenue growth was credited to products rolled out in spite of the absence of live sports. DraftKings – and other daily fantasy platforms – were quick to build out betting […]

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Premier Lacrosse League Adds Sports Betting to Revenue Arsenal

  • The PLL announced a partnership with vendor Genius Sports to integrate sports betting into this summer’s PLL Championship Series.
  • Sports betting was estimated to be worth billions of dollars to professional sports leagues by the American Gaming Association.

As the Premier Lacrosse League looks to move forward amid the coronavirus pandemic, the league is introducing sports betting for the first time. In May, the PLL said that it would shift its 2020 season to a two-week quarantined and fanless tournament called the PLL Championship Series. At the time of the announcement, PLL COO Andrew Sinnenberg told FOS that it was already expecting increased fan and viewer interest as a result of not only the season’s “do-or-die” format, but […]

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racing horses

Sports Betting Dive Continues

  • This article was first published in the FOS Daily Newsletter. Subscribe here.
  • While the major states in sports betting have yet to report April numbers, smaller states lost big.

With very few live events, sports betting dollars have continued to dry up. While hopes were high surrounding betting on the NFL Draft, early numbers don’t look promising. Nevada, New Jersey and Pennsylvania haven’t reported yet, but three smaller states saw dramatic declines. April State Betting Handles: Indiana: $26.3 million, down 64% from March Iowa: $1.6 million, down 92% West Virginia: $2.96 million, down 79.8% West Virginia reported that the week ending May 2, which contained the NFL Draft, generated $1.06 […]

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