JMP Securities has published a Gaming, Online Gaming & Gaming Technology Industry Overview note in time for football season, showing that the top 10 US sports betting apps reached 972,000 downloads in the first week of NFL games.
The top-performing apps hold around 95% of the online sports wagering market share, which has increased 15% from last year.
The highest week of sports betting app downloads occurred during the 2022 Super Bowl. However, football viewership has risen 24% year-on-year, which JMP has stated correlates to sports betting app downloads and traffic.
As the above chart shows, FanDuel achieved 33.8% market share during NFL week 1, which shows a slight decrease from 36% of the market this time in 2022. Downloads of the app have increased by 25%, though.
US second-place sports betting app DraftKings received 32.9% of the market share, with a slight increase from 32% of the market last year and 8% fewer downloads. The company did report that users had trouble accessing the app due to this year’s traffic, however.
Fanatics, combined with its recent acquisition PointsBet, made up 12.3% of the market, while BetMGM made up 11.5%. Fanatics, new to the sports betting sector, has no previous year’s data for comparison, but PointsBet downloads went up over 200% year-on-year. BetMGM increased its downloads by only 1%, meaning it still takes third place when you measure individual brands only.
JMP Securities included industry estimates, predicting that the North American online sports betting and iGaming market could be worth $43bn by the year 2030. This divides into US online sports betting specifically representing $22bn of that forecasted total, US iGaming representing $16bn, Canada online sports betting bringing in $1.7bn and Canada iGaming reaching $2.8bn.
