As sports betting trends across the nation indicate, online market share has largely been concentrated among four major companies since the historic PASPA decision.
When PENN Entertainment’s ESPN BET makes its much-ballyhooed debut next month replacing the operator’s Barstool Sportsbook, the platform will join Fanatics as the second mainstream brand to challenge the entrenched leaders. The impending launch has engendered lively debate on whether the highly capitalized companies can wrestle meaningful market share away from the Big Four — DraftKings, FanDuel, BetMGM, and Caesars Sportsbook. To that end, Hot Paper Lantern (HPL), a New York-based integrated marketing firm, sought answers.
Ahead of this month's Global Gaming Expo, Digital Sport by HPL conducted a comprehensive survey about ESPN BET’s and Fanatics Sportsbook's prospects for disrupting the industry. The survey was completed by approximately 30 leading journalists in the sports betting industry. On a long-term time horizon, roughly 65% of respondents selected Fanatics as the brand that would earn enough market share to shake up the Big Four. The question was posed as a binary proposition: The journalists could select either Fanatics or ESPN BET, they could not choose a tie.
Moreover, 57% of respondents selected Fanatics' e-commerce loyalty ecosystem system compared with ESPN's user base as the stronger user tool for acquiring sports bettors.