The 2024 NFL season is in full swing, and with it comes a surge in sports betting across the United States. Projections from the American Gaming Association indicate that U.S. adults are expected to wager a staggering $35 billion on NFL games this season, representing a significant increase from the previous year's total of $26.7 billion.
Despite the growing popularity of sports betting, the stock performance of major gambling companies has been mixed. Shares of companies like DraftKings, Penn, Caesars, MGM Resorts, and Entain have all seen negative year-to-date returns, while others like Flutter and Churchill Downs have posted positive gains.
Competition among licensed sportsbooks is intensifying, with each operator vying to attract new customers and retain existing ones. FanDuel, for example, has partnered with YouTube to offer a unique "Sunday Ticket" promotion, allowing players to watch out-of-market NFL games with a wager of just $5. Fanatics Sportsbook, a newcomer to the industry, has leveraged its existing database of 100 million sports fans to rapidly expand its presence in 22 states.
DraftKings, another major player in the sports betting market, has seen significant success with its NFL offerings, making it the most popular league in terms of both handle and number of bets accepted. In contrast, Penn Entertainment is looking to leverage its partnership with ESPN to drive higher engagement and monetization through its ESPN Bet platform.
Overall, the 2024 NFL season promises to be a lucrative one for sports betting operators, as they continue to innovate and expand their offerings to attract a larger share of the growing market. With new technologies and promotions being rolled out, fans can expect a more immersive and rewarding betting experience than ever before.