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SENSOR TOWER · ABRAHAM YOUSEF · FEBRUARY 2024
Super Bowl Fever: Driving Growth in the Sports Betting Market
During the week of Super Bowl LVIII, DraftKings, FanDuel, BetMGM, and Bet365 saw triple-digit WoW growth in new installs per Sensor Tower data. DraftKings and FanDuel dominated consumer attention, wielding a combined ~52% share of WAUs across the sports betting app cohort, while newcomer ESPN BET emerged as the third-largest app.
Key Takeaways:
The American Gambling Association (AGA) predicted that roughly 68M Americans (35% more than last year) would wager around $23B on Super Bowl LVIII. This anticipation of high betting activity was reflected in new downloads of sports betting apps, with the cohort experiencing a notable 52% WoW increase the week of Super Bowl LVIII (Week of Feb. 5)
Per Sensor Tower data, DraftKings led the surge with a 384% WoW increase in app installs, followed by FanDuel (+196%), BetMGM (+164%), and Bet365 (+134%)
Super Bowl LVIII week highlighted differing growth trends in the sports betting market. Established leaders like DraftKings and FanDuel saw moderate YoY download increases, while Hard Rock Bet, Bet365, and Underdog Fantasy experienced substantial growth, albeit off of a lower base, signaling a shifting competitive landscape
ESPN BET has ramped ad spend aggressively since its launch, becoming the second-largest sports book advertiser (with 20% of spend share), only trailing behind DraftKings (with an industry-leading 42% share of spend)
Despite being a newcomer to the sports betting market, ESPN BET has emerged as the third-largest sports betting app in the U.S., capturing 14% of WAUs in the cohort during Super Bowl LVIII, trailing only DraftKings and FanDuel
Seizing the Super Bowl fever, sportsbook advertisers increased their digital ad spending during the week of Super Bowl LVIII, particularly on social media platforms like TikTok (+411% WoW), Facebook (+300% WoW), Instagram (+275% WoW), and Snapchat (+269% WoW)
During Super Bowl LVIII, DraftKings dominated social media channels, securing over 60% SOV on each platform. Meanwhile, FanDuel redirected its ad spending towards YouTube, achieving a ~70% SOV on the platform
For more information, request the full report from reports@sensortower.com.
