Earnings+More - Leading edge
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A parlay leg up3 is the magic number: FanDuel’s OSB dominance is down to a trifecta of a market-leading parlay product, the parlay mix and a market-leading hold that makes it hard to match, according to recent analysis.
Looking at the data, the team at Barclays pointed out that a large slice of this hold advantage was down to its success in generating a higher level of parlays than its major rivals.
🥣 Pick and mix: FanDuel’s parlay lead On hold: As important to the percentage of handle that comes from parlay bets is the extra benefit FanDuel enjoys over the rest of the market in terms of parlay hold.
That’s why we’re champions: The Barclays analysts suggested it is FanDuel’s “superior pricing sophistication” supported by owner Flutter’s decades-strong expertise in backend risk and trading capabilities that helps explain its dominance.
This is displayed in Barclays own parlay pricing tracker, which shows FanDuel offering customers a “stark” average payout premium over the competition during the NBA season just gone – as much as 31% – and a solid lead in week 1 of the NFL.
Price war: The analysts noted competitors have to date been focusing on the area of pricing in order to compete with FanDuel: DraftKings via its SportsIQ and Simplebet acquisitions, BetMGM via Entain’s Angstrom buyout and Fanatics takeover of PointsBet US, including the Banach technology unit.
NFL week 2As if to prove a point: The Jefferies team pointed out that week 2 of the NFL season in New York saw FanDuel produce a record GGR tally of $35.1m, up a whopping 222% YoY, on margins of over 19%.
Join 100s of operators automating their trading with OpticOdds. Real-time data. Proven trading tools. Built by experts. Meet us at SBC Lisbon & G2E Vegas. Join top operators at www.opticodds.com. +More‘Separations’: As disclosed in Earnings+More last Friday, the latest round of job losses at Penn Interactive has been confirmed with LegalSportsReport giving details of a letter from Penn Entertainment CEO Jan Snowden explaining the latest redundancies.
Accel Entertainment has received permission from the Illinois Racing Board to buy the former Fairmount Park racetrack and rebrand it to FanDuel Sportsbook and Horse Racing. Recall, Accel bought the track in July for $35m and will spend a further $85m-$95m on construction of a temporary, and then permanent, casino. Betfred is to shutter its Arizona operations in November, its third market exit this summer after Maryland and Ohio. The company is left with operations in Colorado, Iowa, Louisiana, Pennsylvania and Virginia. OpticOdds has formed a new partnership with Sportsbet.io via the latter’s odds aggregator and risk management platform TradeArt. The week aheadWhile the industry
Earnings in briefVirtual Gaming Worlds: The Australian-based private company behind Chumba Casino and other sweepstakes-type offerings saw revenues climb 27% to A$6.13bn ($4.18bn) in the year to June 2024, according to an annual report seen by the Australian Financial Review. Profits rose 30% to A$378m.
Shares weekDeserted: The lack of a casino within MGM Resorts’ Dubai plans might account for the muted response of the shares last week to CEO Bill Hornbuckle’s comments regarding the opaque process in the UAE around gaming.
Serve and volley: Sportradar served an ace this week and got a 3.5% uplift after announcing a new set of micro-betting markets for ATP tennis. The uncertainties in Australia over the future of gambling advertising continue to weigh down on stocks with the shares of BlueBet, down 14%, and PointsBet, off by 3.5%, both struggling this week.
Seamless Onboarding, Happy Players. It's That Simple. Experience the perfect balance between stringent identity verification and effortless onboarding with IDComply, a groundbreaking solution from GeoComply. Take your pass rates to new heights and shield your business from fraudulent activities. By the numbers – PennsylvaniaPlaying catch up: Bet365’s debut month in Pennsylvania saw it manage $28.5m of OSB handle in August for over 6% market share, although including promo spend saw it record a negative $0.5m of GGR.
Limping in behind the leaders was ESPN Bet with a mere $1.6m of GGR for a <4% share from a 4.6% share of handle.
😱 ESPN Bet’s sliding handle in Pennsylvania Michigan iCasino: The top five dominance in iCasino in Michigan is clear when the last six months of GGR activity is tabulated. Adding the Golden Nugget share to DraftKings and WynnBet to Caesars, it can be seen that in the six months to August the top five between them have on average grabbed 88% market share.
🥧 Share of the pie: top 5 dominance in Michigan iCasino GGR Louisiana: Total GGR was up 9% YoY to $280m in August, with B&M casino up 8% at $193m while sports betting (B&M only) hit $27m, up 49% on handle, which was up 52% to $235m. Spain: Online GGR rose 11% YoY in Q2 to €346m, with iCasino up 15% to €172m and OSB GGR up 9% to €146m. Algosport are regarded as one of the ‘best-kept secrets’ in the gambling industry, currently supporting hundreds of Tier 1 and challenger operators with our proprietary Algosport Blackbox – a powerful engine capable of supercharging your sportsbook. We are best known for our next generation Bet Builder/Same Game Multiples product that offers the widest range of sports with unrivalled coverage, markets and features, both pre-match and in-play. To understand how we could help create more revenue get in touch at www.algosport.co.uk Earnings calendar
An +More Media publication. For sponsorship inquiries email scott@andmore.media. |
Older messages
A selling club
Friday, September 20, 2024
Playtech's top team incentivized to sell more assets ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Under the radar
Wednesday, September 18, 2024
Fliff is making waves ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
The Italian job
Tuesday, September 17, 2024
Flutter announces €2.3bn Snai acquisition ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Ill omens
Monday, September 16, 2024
ESPN Bet's start to the NFL season not going to plan ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Grande Nacional
Friday, September 13, 2024
Flutter announces agreement with NSX in Brazil ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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