In the OSB (Online Sports Betting) markets of New Jersey, Pennsylvania, and Michigan, FanDuel, DraftKings, and BetMGM continue to dominate, holding a combined market share of 81% to 90%. The dominance of these three operators is deterring challengers from entering these states and instead focusing on other markets. However, in the iCasino markets of these states, there is a more open field of play. The combined market share of FanDuel, DraftKings, and BetMGM in iCasino ranges from 67% to 79%. When including Caesars, the average market share increases to 73% in Pennsylvania, 78% in New Jersey, and 79% in Michigan.

The passage of legislation in Rhode Island has provided a boost to the US iCasino market, with Bally’s and IGT set to be the sole operator and supplier, respectively. The market is expected to open in March of next year and is projected to be worth around $130 million in gross gaming revenue (GGR) at maturity. Estimates from JMP suggest the market could be slightly higher at $135 million, while Wells Fargo’s team estimated that Bally’s alone could generate revenues of approximately $35 million to $40 million from the state. It’s worth noting that there are limitations to the offerings in Rhode Island, with only table games allowed and no roulette permitted for live dealer games. Nevertheless, this development is welcome news for Bally’s, especially […]

With the IPO market starting to open up, Sports Betting IPOs are on deck for the US Market and Flutter (FLTR-LN) and Fanatics are two we should be seeing soon. Flutter Entertainment listed on the London Stock Exchange (FLTR-LN) operates a portfolio of well-known brands in the gambling and gaming industry, including Paddy Power, Betfair, FanDuel, and PokerStars. The company provides various online betting and gaming services, including sports betting, casino games, poker, and daily fantasy sports. Fanatics is a sports merchandise and e-commerce company that specializes in the sale of licensed sports apparel, accessories, and memorabilia. Fanatics has recently entered into the sports betting arena as well. It is recognized as one of the leading retailers of licensed sports merchandise globally. One way to […]