A recent survey by YouGov indicates that Bet365 is establishing dominance among younger U.S. bettors, particularly those aged 21 to 24. The survey reveals that while DraftKings and FanDuel continue to attract older demographics, Bet365 emerged as the leading sportsbook for younger participants. Among bettors aged 21 to 24, 31% reported using Bet365 in the month prior to the survey. Conversely, only 14% of this age group were identified as prospective bettors, suggesting significant growth potential for Bet365 in this market segment, especially with ongoing investments in the U.S. Overall, 60% of sports bettors reported increased usage of Bet365, the highest among U.S. sportsbooks.
Despite reporting a loss of £61.2 million for the 2022-23 financial year, Bet365 experienced substantial revenue growth, with sports betting and gaming revenue increasing by 18.9% to £3.39 billion. Denise Coates, the company's CEO, emphasized Bet365's expanding presence in the U.S. market, having launched operations in several states during the reporting period. According to Ed Birkin, a senior analyst at H2 Gambling Capital, Bet365's long-term strategy in the U.S. could yield positive results. 'Of most interest to me is their positioning in the U.S. market,' Birkin observed. 'While several operators rushed in and faced challenges, Bet365 has maintained a more patient approach, avoiding the cash outflows that others experienced during the initial market competition.'
DraftKings and FanDuel have historically dominated U.S. sports betting since the Professional and Amateur Sports Protection Act was overturned in 2018. Nevertheless, YouGov's findings show that new sportsbooks are gaining traction. The survey indicated that although DraftKings, Bet365, and FanDuel remain the most used sportsbooks overall, younger bettors, particularly between the ages of 25 and 44, tend to explore multiple options, averaging three sportsbooks each. This trend presents opportunities for brands like 888 Sport and ESPN Bet, the latter launched in November following a $1.5 billion partnership involving Penn Entertainment and ESPN.
The survey revealed that 58% of sports bettors were using 888 Sport more than before, while 51% reported increased betting activity with ESPN Bet. Even with a recent launch, ESPN Bet ranked among the top five sportsbooks across all age groups. FanDuel saw an increase in usage by 40%, although 23% of respondents said they were using it less.
Loyalty among older bettors remains strong, with 44% of those aged 55 and older using just one sportsbook, and only 25% engaging with three or more. DraftKings and FanDuel were the most frequently used sportsbooks among those aged 35 and older.
According to the survey, enticing sign-up offers significantly influence customer acquisition. More than half—55%—of respondents cited a 'good welcome offer' as a top reason for opening an account with a new sportsbook, while 53% highlighted ongoing promotions. Good customer service and recommendations from friends or family were less influential, with each mentioned by 37% of bettors.
As sportsbooks evolve, live streaming of sports is emerging as a critical factor in attracting new users. Sixty-three percent of respondents indicated they would be more likely to use an app with live streaming features. Interest in this option peaked at 41% among those aged 35 to 44 and 40% among the 25-34 age group, though enthusiasm drops significantly for older respondents; just 11% of those aged 55 and older expressed a strong interest in live streaming.
ESPN's streaming service, ESPN+, which has 25 million subscribers, is recognized by 74% of current sports bettors, far exceeding awareness of similar services from FanDuel TV and DraftKings Network, known by only 45% and 44%, respectively. This high level of recognition positions ESPN Bet for potential growth as bettors seek apps linked to streaming services.
In January, YouGov surveyed over 2,000 U.S. players who had placed sports bets in the preceding year or intended to bet in the coming year. The survey found that 71% of respondents were current bettors, while 29% planned to begin betting. The results focused on trends in bookmaker usage across age groups and highlighted crucial features for bettors. Among sportsbook users in the previous year, 65% fell between the ages of 25 and 44, and 54% of prospective bettors were also within this range. The survey predominantly reflected male responses, with 72% of male participants having bet within the last year compared to 28% of female respondents. Additionally, 57% of men were prospective bettors, while only 43% of women fit this category.
