NFL Week 1 Sports Betting Report: 56% YoY Surge In Sportsbook Logins, 1.1M New Customers, Live Betting Dominates
Portfolio Pulse from Chris Katje
The 2023 NFL season's opening week saw a 56% YoY surge in sportsbook logins and 1.1 million new customers. GeoComply Solutions recorded over 242 million geolocation transactions from customers at U.S. sportsbooks. The data could be positive for sportsbook companies like DraftKings, Flutter Entertainment's FanDuel, and BetMGM. Needham analyst Bernie McTernan rates DraftKings a Buy with a $44 price target. ESPN Bet platform from Penn Entertainment through a licensing deal with The Walt Disney Company is also expected to launch later this year. Genius Sports, the exclusive carrier of NFL games data, could also benefit from the increased activity.
September 14, 2023 | 6:02 pm
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POSITIVE IMPACT
The Walt Disney Company, through a licensing deal with Penn Entertainment, could benefit from the surge in sportsbook logins and new customers with the upcoming launch of the ESPN Bet platform.
The surge in sportsbook logins and new customers indicates a growing interest in sports betting, which could drive more business to the upcoming ESPN Bet platform, licensed by Disney.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
DraftKings could benefit from the surge in sportsbook logins and new customers. Needham analyst rates the stock a Buy with a $44 price target.
The surge in sportsbook logins and new customers indicates a growing interest in sports betting, which could drive more business to DraftKings. The positive rating from Needham analyst further supports this.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Genius Sports, the exclusive carrier of NFL games data, could benefit from the increased activity in sports betting.
The increased activity in sports betting could lead to more demand for NFL games data, which Genius Sports exclusively carries.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
BetMGM, a joint venture from Entain and MGM Resorts International, could benefit from the surge in sportsbook logins and new customers.
The surge in sportsbook logins and new customers indicates a growing interest in sports betting, which could drive more business to BetMGM.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Flutter Entertainment's FanDuel could benefit from the surge in sportsbook logins and new customers.
The surge in sportsbook logins and new customers indicates a growing interest in sports betting, which could drive more business to FanDuel.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Penn Entertainment's ESPN Bet platform, expected to launch later this year, could benefit from the surge in sportsbook logins and new customers.
The surge in sportsbook logins and new customers indicates a growing interest in sports betting, which could drive more business to the upcoming ESPN Bet platform.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70