Sports betting app downloads in the US experienced a year on year increase of 183% in September, according to research conducted by Morgan Stanley, with the market dominated by a small number of major operators.
Data provided by mobile app Sensor Tower showed that DraftKings and Fanduel had the largest market share of app downloads with 32% and 27% respectively during the first month of the NFL and college football seasons. BetMGM and Caesars Entertainment both held a 12% share each.
Penn National Gaming’s subsidiary Barstool Sports’ share dropped to 7% from 13% at the previous recording, which only took the start of September into account. Barstool experienced a surge in downloads (leading to an 18% share) in August after launching in Colorado, Vancouver and New Jersey, before regressing to its historical average as the football season progressed.
WynnBet managed to hold a 3% market share, showing no fluctuation from the previous month.
The increase in downloads has been attributed to sports betting debuting in more states, such as Arizona and Wyoming, while the likes of Connecticut and Louisiana are soon to follow. A significant increase in marketing spend by operators has also been cited as a key factor for increased app downloads.
Preliminary data for October exhibits a similar trend, showing a 161% year-on-year increase on app downloads.
Morgan Stanley – which conducted the research – is also acting as a financial advisor and corporate broker to Entain during its takeover negotiations with DraftKings.