Competitive landscape of the sports betting industry

Goals

The main competitors to theScore, and why they've been successful , the factors that draw people to the ESPN app (or others), how often people use sports apps like ESPN, pain points customers face when it comes to sports betting , and the sports betting industry historical growth and projected future growth.

Early Findings

  • Legal sports betting, particularly online, is only legal in a few US states: Nevada, Delaware, New Jersey, Mississippi, West Virginia, and Rhode Island.
  • The main competitors to theScore include ESPN, The Athletic, CBS Sports, Bleacher Report, Yahoo Sports, Live Scores, and 365Scores.
  • The American Gaming Association revealed that around "$7.9 billion was wagered at legal US sportsbooks in the one year since the Supreme Court struck down PASPA."
  • The global sports betting market is currently worth around $60 billion to $73 billion. It was worth $40 billion in 2016 compared to $20 billion in 2009. The market is expected to grow by $10 billion each year.
  • Americans gamble more than "$150 billion illegally on sports in a year, according to estimates from the American Gaming Association. About another $5 billion comes in legally."
  • A survey revealed that more than half of US citizens "admitted to placing a bet on a sporting event at least once in their life."
  • Fan Duel and DraftKings have the largest share of the US sports betting market. Other companies include 888 Sports and Bet 365.
  • The U.S. sports betting market is expected to grow in the future due to "accelerating economy growth, rising internet penetration, adoption of internet based devices and easy government regulations."
  • Key trends of the U.S. sports betting market include digitization, increased betting on e-sports, "growing mobile betting and increased penetration of debit and credit card."
  • On the other hand, "high tax rates and regulations related to sports betting in some states" are factors hindering the growth of the U.S. sports betting market.

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