After the first month of NFL action, a significant increase was observed in the number of betting transactions and betting app downloads. A new report by Morgan Stanley outlines that betting app downloads grew this September by 183% compared to last year. Leaders with the highest market share are DraftKings and FanDuel, followed by BetMGM.
Sports Betting App Downloads Skyrocket in September
Ever since the US Supreme Court struck down PASPA in 2018, the popularity of sports betting has been continuously growing. By now, based on data from the American Gaming Association (AGA), sports betting is live and legal in 27 US states as well as the District of Columbia. Five other US states have already legalized the activity but are yet to launch it.
Now, a report released by Morgan Stanley reveals that the NFL gave a further boost to sports betting. In fact, the whitepaper shows that in a year-on-year comparison for September, the sports betting app downloads grew by a staggering 183%. This once again proves that sports fans in the US love betting on football. Moreover, this is the sport that collects most wagers in the country.
Undoubtedly, the recent launch of sports wagering in Arizona and Wyoming had a positive impact on the results. Another report also reaffirmed that the US betting market continues to grow and betting transactions skyrocketed in the first four weeks of the NFL. A report released on Monday by GeoComply unveiled that there have been 330 million geolocation transactions for the first month of NFL action. A year-on-year comparison indicated a 122% growth in sports betting volume.
DraftKings, FanDuel Solidify Their Presence with Highest Market Share
During the first month of NFL and college football action, the top three operators with the highest market share were DraftKings, FanDuel, and BetMGM. Understandably, DraftKings solidified its presence as a leader in September with a 32% app download market share. This marked a slight increase when compared to August this year when the company saw a 30% app download market share.
On the other hand, the second company with the highest app download market share in September this year was Flutter Entertainment’s FanDuel. The company ended the month with a 27% app download market share, representing a significant increase from the 20% recorded a month earlier.
Next in line, according to Morgan Stanley, we find BetMGM and Caesars. In September, the duo was responsible for 12% of the market share. Barstool Sports, which is a Penn National Gaming subsidiary, had a market share of 12% in August. However, in September, Barstool Sports’ market share dropped to 7%. Last month, WynnBET was able to capture some 3% of the app download market share, according to Morgan Stanley.