The Top 10 States in Sports Betting Growth in October
Transcript
00:00 (upbeat music)
00:02 - Let's get into the revenue,
00:04 top 10 sports betting handles for the month of October
00:08 in terms of the states and the success.
00:10 And you know, more of the same, I think at the top,
00:12 but let's dive into which states had the best success
00:15 in terms of the overall revenue.
00:17 - Yeah, like you said, more of the same at the top
00:21 and keep in mind too, these numbers are pretty raw.
00:26 There's gonna be a handful of other, you know, top 10 states
00:30 let's call them that, that have yet to report October figures
00:34 but we are seeing, you know, New York, New Jersey,
00:37 Pennsylvania, Massachusetts leading the way right now.
00:41 And what stuck out to me is that we're seeing
00:44 widespread growth across the market.
00:48 And you know, it makes sense because October,
00:52 you pretty much have all of the major sports in action
00:56 NFL is underway, you have the baseball playoffs
00:59 and the world series.
01:00 Hock, there is a kind of a full spread
01:04 of sports betting options available.
01:09 So obviously the handle's going to tick up.
01:12 What stuck out to me is that almost every state
01:16 in the top 10 that have reported so far
01:19 has shown year over year growth,
01:22 October last year to October this year.
01:26 And much like we were just discussing
01:27 with the Fandul product,
01:30 there's been a lot of other discussions amongst other brands
01:33 talking about the capabilities or incapabilities
01:38 of their product as they all kind of chatted
01:41 with investors here over the last couple of weeks.
01:44 Fandul, like we just mentioned,
01:46 they're really excited about their NBA product
01:50 and their same game parlays as a whole.
01:53 Caesars, same thing.
01:54 And we mentioned this to you last week, Craig,
01:57 that Caesars feels like their product is on par
02:01 with DraftKings and Fandul.
02:04 They feel like there's a couple of new innovations
02:08 that they put out for college football betting,
02:11 which obviously takes place in October,
02:13 that they're really excited about.
02:15 And they're looking ahead to rolling out
02:18 some new enhancements for NBA betting themselves
02:21 along with NHL betting.
02:23 Now on the flip side,
02:26 we did have comments recently from the folks at BetMGM,
02:31 and they feel like their product needs a bit of enhancing
02:35 until they can feel like it's comfortably on par
02:39 with DraftKings, Fandul, Caesars.
02:42 So we've seen in some markets
02:45 that that share of market share of handle
02:50 for BetMGM kind of slide a little bit
02:52 and a lot of product talk,
02:55 but overall we're seeing some positive trends
02:59 from last year in October to this year
03:03 with widespread growth amongst those states
03:05 that have reported figures so far.
03:08 (upbeat music)
03:11 (bells chiming)