Sportsbooks Bet Big on Ohio, NFL Playoffs, and Super Bowl LVII

Key Takeaways:

• The American Gambling Association (AGA) predicted that roughly 50mn Americans would wager ~$16bn on Super Bowl LVII. In an effort to capture that action, sportsbooks ramped up user acquisition efforts by launching extensive marketing campaigns around the big game

  • Pathmatics by ST data indicates that DraftKings, FanDuel, and BetMGM increased US ad spend by 186%, 101% and 68% WoW, respectively, the week of Super Bowl LVII (week ended Feb 12)

  • Sportsbook apps saw a significant influx of new installs the week of Super Bowl LVII compared to the previous week with the cohort* up 150% WoW (week ended Feb 12)

• Strength for sportsbooks 2H22 (which includes the kickoff of NFL season) was also propelled by the World Cup in late November, plus Maryland sportsbook launches

  • US sportsbook apps’ new downloads surged for the cohort (save for Caesars Sportsbook), exhibiting a collective average of 86% YoY growth in 4Q22 per ST estimates

  • App usage on sportsbook apps also rose in 4Q22, with MAUs for the cohort up 100% YoY on average, collectively

• The Jan ‘23 launch of sports betting in Ohio coincided with the usual lift in consumer demand for betting attributed to the beginning of NFL playoffs. Per ST estimates, FanDuel, DraftKings, and BetMGM Sportsbooks saw MAUs increase 21% 17%, and 15% MoM in Jan’23

  • On the day of the Ohio launch (Jan 1) new installs of apps in the cohort jumped a collective 53% DoD. This momentum carried over into the rest of Jan’23 with installs of DraftKings and FanDuel Sportsbooks soaring 87% MoM each vs +41%, collectively, for BetMGM, Caesars, and Barstool Sportsbooks

  • Pathmatics by ST data indicates that FanDuel, BetMGM, and DraftKings ramped up US ad spend 90%, 57%, and 46% WoW (week ended Dec 31), respectively for the week prior to the Ohio launch

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