The return of the NFL season brings expectations of a significant increase in sports betting in the United States, with projections indicating that adults are expected to bet about $35 billion (R$ 197.4 billion), according to CNBC. This represents an increase of more than 30% compared to the $26.7 billion (R$ 150.6 billion) in the previous season, according to the American Gaming Association (AGA).
Since the last championship, states such as Maine, North Carolina, and Vermont have legalized sports betting, raising the number of states where the practice is allowed to 38.
However, the stock performance of various companies in the sector does not follow the same trajectory as betting. Stocks of companies like DraftKings, Penn, Caesars, MGM Resorts, and Entain, which operates BetMGM, are down this year.
In contrast, Flutter, owner of the betting platform FanDuel, saw its stocks rise 19% after a positive financial performance in the second quarter. Churchill Downs, involved in horse racing, also shows positive results, while Rush Street Interactive recorded a notable 109% increase in its stocks.
The competition among betting houses is intensifying, each seeking strategies to capture a larger market share. The start of the NFL season is seen as a crucial opportunity to launch new technologies and innovative bets.
Christian Genetski, president of FanDuel, highlighted that this is the biggest customer acquisition time of the year. The company has formed an exclusive partnership with YouTube to offer the “Sunday Ticket”, allowing bettors who spend $5 to watch NFL games for three weeks.
Additionally, FanDuel has enhanced its app and expanded betting options in the “Same Game Parlay” feature, allowing fans to bet “at the speed of sports”. With over 95% of bets made online, agility has become a crucial factor, especially in real-time betting during games.
Meanwhile, DraftKings announced that the NFL is its most popular league in terms of betting volume. The company is offering a new bet called “No Touchdown”, allowing people to bet whether a prominent player will not score a touchdown this season.
On the other hand, the media company Penn Entertainment is facing an investigation due to a 28% drop in its stocks and the negative performance of its digital business. This is the first full year that the company presents ESPN Bet, a $2 billion investment in partnership with Disney. Since its launch, the platform has grown to 31 million members, an increase of 80%. CEO of Penn, Jay Snowden, expressed optimism regarding the integration of media with ESPN.
Recently, BetMGM launched a unique wallet for betting in Nevada, allowing customers to carry their Las Vegas accounts to other states. CEO of BetMGM, Adam Greenblatt, emphasized that this innovation improves the betting experience, allowing a smooth transition between different markets.
Source: InfoMoney
