Last updated: April 05, 2024
DraftKings and FanDuel control a significant portion of the US sports betting market, but DraftKings leads in iGaming, per a Truist survey. ESPN Bet’s potential is highlighted, and parlays prove profitable for operators. Caesars Entertainment shows promise with its dual iGaming and sports wagering strategy.
In a recent Truist survey, ESPN Bet, operated by Penn Entertainment (NASDAQ: (SQM|SNQ)), surfaced as an excellent addition to a rather young business that is less than six months old.
According to Analyst Barry Jonas, the investor sees the potential for long-term value in the company. The survey results showed that the way of life and the rate of inflation were measures of health status, which is a consumer response.
“Gain” spacing of ESPN Bet with that of the renowned forerunners, DraftKings and Fanduel, was allayed. Some experts partially think that ESPN Bet can have an advantage by working for the states where the station is merely one among many others.
In the Truist survey, 44% of the respondents found ESPN Bet favourable when checking the scores, while 64% liked the enhanced integration for bet due to its highlighting purposes. Half foresee that ESPN Bet will eventually become their mobile betting app of choice.
According to a recent Truist survey, although Penn Entertainment’s ESPN Bet is among the newest brands, it received a high score among its clients. As the senior analyst Barry Jonas expressed optimism about the company’s sustainability in the long run, the polling figures fell in line with expectations, i.e., the frequency of betting on users’ part was relative to the living costs.
ESPN bet, therefore, propels its ability to rival or surpass the currently established platforms such as DraftKings and FanDuel. According to ESPN bet analysts, this might occur in the United States, where it is launched simultaneously with other betting operators instead of joining already-set markets.
The study shows that 44% of the participants go to the ESPN Bet website to check scores, while 64% want more integration between the site and betting purposes. Furthermore, 52% of respondents pointed out ESPN Bet as their favourite on-the-go betting application.
It needs not to be pointed out that parlays are very lucrative and compound the overages, therefore having a significant impact on gaming operators. According to the Truist survey, about 75% of respondents admitted that they bet mostly on parlays, which means companies dealing with gaming could benefit from that statement.
However, the picture is divided into 20% of players claiming to be betting more often and 39% saying they are betting less often. The remaining 41% use parlays at the same rate as before, if not more.
In the Truist poll, DraftKings led the way in iGaming (27%) and was followed by FanDuel (18%) and BetMGM (14). Caesars Entertainment (NASDAQ: CZR) reported that 15% of its users preferred its iGaming and sports betting apps, a promising development.
Jonas concluded that the majority of players, 62%, expressed a preference for engaging in iCasino activities on the same platform where they place sports bets. This underscores the significance of cross-selling and retention strategies in the gaming industry, providing a positive indication for implementing a dual strategy.
Susan is a verified gambling support specialist who has helped thousands of problem gamblers get back on their feet through therapy and financial counseling. She’s also worked as a cage manager in four Las Vegas casinos and spent two years in Macau in her 30s, where she became extremely savvy at Sic Bo and other Asian table games. Her knowledge and expertise have and continue to play a priceless part in how we structure our content, particularly when it comes to game guides and casino reviews.
