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US sports betting in 2023: Where do we go from here?
March 8, 2023

US sports betting in 2023: Where do we go from here?

Bookiecity

H2 Gambling Capital's in-depth analysis of the current state of the US sports betting market, and its future growth trajectory, is now available as a report.

H2 Gambling Capital: US sports betting exceeding expectations

The fifth anniversary of the Supreme Court striking down the Professional and Amateur Sports Protection Act, paving the way for legal betting in the US, is fast approaching.

Over this time there has been a wholesale reshaping of the US gaming sector, with mobile betting racing across multiple states, and a pandemic arguably accelerating rather than slowing its spread.

What next for the market?

It’s against this backdrop that H2 Gambling Capital, in partnership with iGB, is looking at what’s next. As the pace of new state launches slows, where is growth coming from?

Report author Ed Birkin, H2 Gambling Capital

For a sector in which a small cohort of brands tend to occupy podium positions in each state, there is there is perhaps more scope for upheaval than ..

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US sports betting: Is micro betting the sports equivalent of igaming?
February 2, 2023

US sports betting: Is micro betting the sports equivalent of igaming?

Bookiecity

As the US sports betting industry evolves, could this herald a new genre of products? H2 Gambling Capital examines micro betting, one of the first innovations to emerge.

Micro betting is a subset of in-play wagering that allows players to wager on individual moments in a game in real-time. It offers the instant gratification / continuous betting opportunities of igaming but with the skill of sports betting.

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In-play betting – Market potential

Micro betting – Market potential

Micro betting – Current performance

Micro betting could be a key driver to increase in-play wagering of US sports to levels of that seen in Europe for basketball and tennis, with the majority of wagering activity being incremental to existing spend.

Other benefits of a high frequency, low price sports betting product include:

Attracting a younger generation of customers that prefer less time commitmentIncreasing player engagement and therefore LTVsIncreasing spend of ‘casual’ players – therefore red..

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US sports betting: What will drive future growth?
February 1, 2023

US sports betting: What will drive future growth?

Bookiecity

H2 Gambling Capital analyses the factors that could drive ongoing growth in the US sports betting market, and whether products or new markets will play decisive roles.

Jump to:

Expansion into new states

Growth in existing states

Expansion of in-play wagering

What drives gross win?

Expansion into new states

A material amount of sports betting gross win growth that H2 Gambling Capital has forecast is based on further expansion into new states.

H2 Gambling Capital forecasts US sports betting gross win to reach $23.2bn by 2030, and 57% of this growth is from states where sports betting is already legal, and 43% is from states where sports betting is expected to legalise in the coming years.

In terms of the importance of new potential states, California is by far the most important, although the recent ballot result means that H2 does not expect anything to pass in the state for at least another 4 years. By contrast, Ohio launched sports betting on 1 January 2023 with Massachusetts..

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US sports betting: Online market share
January 31, 2023

US sports betting: Online market share

Bookiecity

H2 breaks down market share in part three of this in-depth analysis of the US sports betting market, and whether today's dominant brands will stay in pole position.

H2 Gambling Capital produces state by state, monthly online, retail and total US sports betting market share data by operator, utilising state reported data and estimates for states where data isn’t reported, as well as incorporating company reported data.

FanDuel’s dominant position

FanDuel has become the clear market leader in terms of online sports betting. While other operators may have managed to generate a similar market share of handle in some states, FanDuel’s structurally higher margin (due to a superior parlay betting product and arguably best in class risk management) has led to a substantial market share lead in terms of gross win.

While the focus is on gross win, a number of states split out promotional activity, and share of net revenue is the key metric. Looking at a state such as Pennsylvania shows..

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Ontario report
October 26, 2022

Ontario report

Bookiecity

iGB’s new report on Ontario offers exclusive insight into Canada’s most populous province – and the first to regulate betting and igaming.

When the Ontario market opened in April this year, it wasn’t quite brand new ground.

Anyone in the industry could tell you that the grey market in Canada’s largest province had been thriving for quite some time.

Still, bringing the province from grey to white offers certainty and new opportunities for many.

Six months on, we have a sense of the spoils available. Operators – excluding the lottery – brought in a combined CA$267m in the three months ended 30 September.

The biggest challenge in the province, however, may be marketing rules. Operators can offer bonuses, but may not promote them. As Marese O’Hagan writes in our progress report, that’s been difficult, but it hasn’t seriously dampened excitement about the jurisdiction.

And for now, those complying with the rules still need to compete with some unlicensed brands, which continue to do b..

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