EKG Report Signals Rapid Evolution as New Players Disrupt iGaming Market

The online gaming landscape is evolving rapidly, and new players are poised to disrupt the industry, according to a recent report from Eilers & Krejeck Gaming (EKG). 

EKG Probes Fanatics and Jackpocket’s iGaming Entry, Posing Challenges for Industry Titans

EKG’s analysis focuses on the recent forays of Fanatics and Jackpocket into select iGaming markets, examining their potential to rival established players such as BetMGM, DraftKings, and FanDuel. Both companies, catering to the casual bettor, have made significant strides in entering the iGaming arena.

Jackpocket, known for its roots in the online lottery space, recently unveiled its internet casino offering in New Jersey. Fanatics, a powerhouse in sports merchandise, ventured into the iGaming platform in West Virginia. 

Despite the Jackpocket Casino app being labelled as closer to the minimum viable product, EKG acknowledges its potential, emphasizing the importance of user-friendly applications in the competitive iGaming space.

The report suggests that with iGaming currently legal in only six states, there is ample room for industry growth, and 2024 might witness positive legislative developments in more states seeking new revenue sources. This expanded playing field could favor upstarts like Fanatics and Jackpocket, offering them opportunities to gain incremental market share over the long term.

EKG Stresses Crucial Role of Mobile App Quality in a Homogeneous Market

EKG underscores the crucial role of mobile application quality for success in the US iGaming market, which, from a technological standpoint, remains relatively homogeneous. 

The research firm predicts that while market leaders will enhance their product advantages, smaller brands can still make a significant impact.

Analysts and operators express enthusiasm about the outlook for internet casinos due to the extended runway for state-level legalization. Furthermore, iGaming is perceived as a higher-margin business compared to sports betting, with players often exhibiting greater loyalty and spending more.

However, not all industry giants are having a seamless transition into the iGaming realm. Penn Entertainment, despite the success of its ESPN Bet sports wagering mobile app, faces challenges with its new Hollywood Casino offering.

EKG advises caution in interpreting early results and notes that Hollywood Casino operates on the same tech stack as its predecessor, Barstool, which historically performed well. As the iGaming landscape continues to unfold, the report suggests that innovative technologies and superior mobile applications will be key factors in determining which players can capitalize on the vast opportunities presented by the evolving industry.