It was not before long that states like New Jersey, Pennsylvania, Virginia, Michigan, and Colorado introduced legal frameworks to regulate this form of gambling. With the sports betting expansion in full swing, many others are expected to jump on the bandwagon.
PASPA’s demise transformed the US into a lucrative destination, eyed by some of the world’s biggest bookmaking brands. It should not come as surprising that a number of key sportsbooks on a global scale were quick to tap into this young and competitive market. Let’s have an up-close look at who has the edge in the US sports betting industry according to sportingpedia.com.
A real powerhouse in the provision of DFS, FanDuel was one of the first companies to penetrate the young sports betting market in the USA. The brand is licensed to legally operate in the states of Illinois, Iowa, Colorado, New Jersey, Michigan, Pennsylvania, Tennessee, Indiana, West Virginia, and Virginia.
With a market share of around 46% in the third quarter of 2020, the company’s dominance in the US is undeniable. The brand boasts the staggering number of 1.8 million active users, acquiring 450,000 customers in Q3 alone. FanDuel users cumulatively spent over $1.6 billion on sports betting during this period, which accounts for a 155% increase in action compared to Q3 of the previous year.
The betting giant continues to grow from strength to strength. FanDuel’s success in the US can be at least partially attributed to its attractive promotional incentives like the Odds Boost and the Spread the Love campaign. The brand offers an amazing mobile app optimized for iOS and Android along with a broad choice of events at tight odds.
DraftKing is FanDuel’s biggest rival on US soil. This was the first online and mobile sportsbook to launch licensed betting in New Jersey in August 2018. It did not take long until the brand expanded its operations in new US markets like Colorado, Tennessee, Michigan, Pennsylvania, New Hampshire, and Illinois.
The spring of 2020 was another milestone in the history of DraftKings. A reverse merger enabled the brand to join the list of publicly-traded companies in the US. DraftKings’ reputation was further consolidated after basketball superstar Michael Jordan joined it as an investor and board advisor in the fall of the same year.
In addition to its online/mobile offering, DraftKings offers retail sports betting via partnerships with major land-based operators in the US. Mardi Gras Casino, Penn National Gaming, Hollywood Casino, and Resorts Casino & Hotel are only some of the notable names on the DraftKings’ partnership roster.
Hailing from Australia and part of Flutter Entertainment, PointsBet Holdings received permission from the NJDGE to enter the sports betting market in the Garden State at the end of 2018. The Australian company became one of the most successful betting brands on US soil, expanding its operations outside New Jersey in states like Michigan, Illinois, Colorado, Indiana, and Iowa.
The success PointsBet has witnessed over the last three years is undeniable. The Aussie bookmaker recently reported record-breaking figures. Its customer base in the United States grew by nearly 159% to reach almost 40,000 active users in Q1 of the fiscal 2021. This success extended to the company’s revenue as PointsBet reported a 130% YoY growth with profits of over AU$164 million in the US alone.
Few brands can compete with William Hill’s longevity in the bookmaking industry. The company hails from the UK and has been offering sports wagering services ever since 1934. William Hill has established a rather solid presence on the New Jersey sports scene. It also services punters across multiple US states, including New Jersey, Iowa, Nevada, and Rhode Island.
The excellent reputation William Hill enjoys in the Land of the Free is further substantiated by the company’s performance for the fiscal 2019. The brand was pleased to announce its US segment exceeded expectations, with William Hill US accepting $2.9 billion in sports betting handle.
BetRivers is a highly recognized brand in the United States. It has a solid sports betting offering for US punters looking to shop the lines at competitive odds. The brand has acquired operational licenses in Pennsylvania, Illinois, Iowa, Indiana, Michigan, and Colorado. The company’s roots lie in casino gambling, but this did not prevent it from becoming one of the best bookmakers on the US market.
The Rush Street Gaming brand dominated the sports betting industry in Illinois during the summer of 2020. The Prairie State reported online wagering handle of over $123 million for the month of August, with BetRivers accounting for $106 million of this amount. The brand operates in partnership with the landbased Rivers Casino Des Plaines, which reported a retail betting handle of $11.5 million for the same month.