As the NFL season kicks off, U.S. sports betting is projected to reach a record $35 billion this year, marking a 30% increase from last year’s $26.7 billion, according to the American Gaming Association. This growth comes as sports betting becomes legal in more states, with Maine, North Carolina, Vermont, and Florida recently joining the market. Today, 38 states and Washington, D.C. allow live sports betting.
However, while the betting industry booms, gambling company stocks are not following the same trajectory. Major players like DraftKings, Penn, Caesars, and MGM Resorts have seen their shares fall year-to-date, with the exception of Flutter, the owner of FanDuel, which posted a 19% increase after listing on the New York Stock Exchange. Churchill Downs and Rush Street Interactive are also among the few showing gains.
Despite stock performance, sportsbooks are ramping up their efforts to capture a larger share of the betting market. NFL season is a prime opportunity for customer acquisition, and companies are rolling out new technology, promotions, and innovative bets to attract and retain users. Christian Genetski, president of FanDuel, described the NFL season as their “biggest acquisition period of the year.”
FanDuel, the leading sportsbook in the U.S., has partnered with YouTube to offer a free three-week trial of “Sunday Ticket” for players who place a $5 wager, allowing fans to watch out-of-market NFL games. Additionally, FanDuel has upgraded its app to support faster betting, particularly in micro-betting, where wagers are placed on specific in-game actions.
Fanatics Sportsbook, which recently acquired PointsBet’s U.S. operations, has also been expanding rapidly, now operating in 22 states. Leveraging its vast database of sports merchandise customers, Fanatics rewards users with exclusive sports products, further enhancing customer loyalty. CEO Matt King noted the positive response to their unique offerings, positioning them as a standout newcomer in the betting industry.
Meanwhile, DraftKings, the NFL’s most popular sportsbook by volume of bets, introduced a new “No Touchdown” prop bet, allowing players to wager on top players not scoring. DraftKings is also adjusting its tax strategy in high-tax states to remain competitive.
Penn Entertainment is banking on its new ESPN Bet platform to gain traction this season. After a $2 billion investment and a mid-NFL season launch last year, Penn’s customer base has grown 80%, reaching 31 million members. The company is focusing on building loyalty and enhancing media integration with ESPN.
BetMGM, in partnership with MGM Resorts, recently launched a mobile wallet feature in Nevada, allowing bettors to easily transition between physical casinos and online betting. This seamless integration is designed to reduce transaction friction and boost user engagement across multiple markets.
With sportsbooks competing fiercely for market share, this NFL season is poised to be a landmark year for the sports betting industry, even as stocks continue to fluctuate.
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