Truist’s nationwide survey on consumer preferences in the interactive gaming sector indicates that Penn Entertainment’s ESPN Bet could pose a challenge to industry giants DraftKings and FanDuel in the US market.
According to data collected in Truist’s 2024 Interactive Gaming Survey, ESPN’s status as the primary app for sports score checking could serve as a significant advantage for its branded sports betting platform. The survey reveals that 44% of sports fans use ESPN to check scores, with 64% of them expressing interest in betting integration beyond listed lines.
Of those surveyed who frequently use ESPN and are interested in betting integration, 52% indicated that ESPN Bet could become their primary wagering platform, with another 45% considering it a possibility.
Barry Jonas, managing director at Truist, emphasized the importance of ESPN’s lead generation capabilities and highlighted the need for Penn to deliver a compelling technology solution for ESPN Bet. “The challenge of overtaking DraftKings and FanDuel is that you can’t assume those incumbents are staying still,” he told iGamingBusiness.
While Penn’s ESPN Bet is positioned for growth, Truist believes that DraftKings and FanDuel will maintain their dominance in the market. The survey indicates DraftKings leads as players’ primary sports betting app by 29% to 22%. Despite this, Truist observes a mixed preference between DraftKings and FanDuel, with both platforms viewed as largely equal by consumers.
As for BetMGM, favored by 12% of users, Truist remains uncertain about its potential to outpace ESPN Bet or catch up with the market leaders. Jonas stressed the importance of execution and technology enhancement for BetMGM to stay competitive.
The survey also addresses regulatory risks in the US market and highlights the prevalence of offshore gambling, in particular in states where online betting is not yet legal. Truist underscored the importance of responsible gaming practices and federal regulation to ensure consumer protection and industry integrity.
Original article: https://www.yogonet.com/international/noticias/2024/04/05/71607-espn-bet-positioned-to-challenge-market-leaders-draftkings-and-fanduel-truist-report-suggests
