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KeyStar Corp has officially submitted its sports wagering licence application for ZenSports in Tennessee.
KeyStar officially acquired ZenSports in October 2022, along with esports tournament specialist Ultimate Gamer.
ZenSports consists of both a traditional sportsbook and a peer-to-peer sports betting marketplace.
Read the full story on iGB North America.
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..
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.
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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..
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..
