00:00 (upbeat music)
00:02 - Okay, now the United States has had an incredible rise
00:06 in sports betting.
00:07 We're seeing this all over the country.
00:10 Americans spending millions and millions of dollars
00:13 getting involved in it.
00:14 And the good news is a lot of this does go toward taxes,
00:16 a large percentage in a lot of the different states.
00:19 Really when it comes down to it, Sam,
00:20 when we look back at the end of the year,
00:22 it's a wonderfully successful year
00:24 with some controversy as well,
00:26 but overwhelmingly money going in,
00:28 hopefully the right places due to so many people
00:30 getting involved.
00:31 - Yeah, it wouldn't be gambling
00:33 if there wasn't a bit of controversy, right?
00:35 So it's definitely been a difficult year
00:37 in terms of all the suspensions and scandals
00:39 and countless other things.
00:41 But the good news for the companies
00:42 and the people involved in the space like myself and you
00:45 is that people are spending more and more time
00:47 on sports betting apps.
00:49 This company, GWS Magnify just reported
00:52 that Americans spent 67 million minutes
00:56 on sports betting apps in October,
00:58 which beat the previous record of February, 2023.
01:01 Obviously there's a pretty big sporting event in February
01:04 that would have led to that.
01:05 So it's really interesting to see that spike in October.
01:09 And then that is up about 66% year over year.
01:13 So essentially what you have is Americans
01:15 spending almost two thirds more time they did this year
01:19 than last year on sports betting apps.
01:21 Now, obviously some other things have changed
01:23 over the past year.
01:24 You have three new states included in that data as well,
01:28 being Massachusetts, Ohio, and Kentucky,
01:30 which recently legalized and launched sports betting.
01:33 So that skews the data a little bit,
01:35 but it still would be up even without adding
01:38 those new states in.
01:39 And it's a pretty interesting survey
01:41 that we wrote about at Legal Sports Report.
01:43 Basically they found that people spent 45% of their time
01:47 on DraftKings in October and only 20% of their time
01:50 on FanDuel.
01:51 So now while that doesn't just directly correlate
01:55 to where the dollars are going,
01:57 it does signify who's either doing a better job
02:00 keeping people on their app
02:02 and long-term kind of where it's going.
02:04 FanDuel was the leader pretty much for every month
02:07 over the past year.
02:09 And now you see DraftKings overtaking them
02:11 in time spent on the app,
02:12 as well as the money and the handle
02:15 that we've talked about as well.
02:16 Since July, it's pretty much been DraftKings or FanDuel
02:19 in any given state when it comes to who's leading
02:22 instead of just FanDuel and DraftKings close behind
02:25 like it was.
02:26 ESPN vaulted into third place in November,
02:29 which obviously very interesting because it's ESPN
02:32 and it's a brand new app.
02:33 So they had about 11% market share.
02:35 Obviously there were big promos
02:38 and a push associated with it.
02:39 So going into next year, again,
02:41 that's gonna be something really interesting to watch,
02:43 especially with how fast it's grown among young people,
02:47 which they have the largest percentage of young people
02:49 on their app under the age of 36.
02:52 So it's very interesting stuff to watch
02:55 and it's a really good survey
02:56 if you have time to dig over into it
02:58 at Legal Sports Report,
02:59 talking about the trends and why people are betting this way
03:02 and sort of how the money is correlating
03:04 with how much time people spend on the apps
03:06 as these sports books talk about
03:08 wanting to keep people more and more in tune
03:10 and become bigger kind of media companies as well.
03:14 (upbeat music)
03:16 (bells chiming)
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