Fanatics Poised to Take the Lead in US Sports Betting Market
LiveScore Group CEO Sam Sadi believes that Fanatics has the upper hand in the competition between the two major newcomers in the US sports betting market. Speaking at iGaming 2024: The Future of iGaming event, Sadi highlighted Fanatics’ superior knowledge and experience, giving them a significant advantage over ESPN Bet.
According to Flutter, the parent company of FanDuel, the US regulated sports betting market is estimated to be worth over $40 billion by 2030.
Sadi stated, “Fanatics has the better chance of winning. ESPN Bet probably won’t, unless they realize the difficulties they face with Barstool, understand what’s missing, and invest heavily in technology.”
Why does Fanatics have the edge? Many of their executives and engineering team members come from Sky Bet, giving them insider knowledge on building a world-class sportsbook and navigating the challenges of convergence. Fanatics is willing to patiently construct an entire ecosystem with best-in-class components.
The Promise of Convergence
Sadi also discussed the potential for innovation in the area of convergence in sports betting. He expressed that the industry currently spends a lot of resources on compliance, limiting the ability to invest in innovation. Looking for alternative strategies and inefficiencies in the sports content and media ecosystem can lead to improvements.
Player Engagement and Retention
The event also featured discussions on player engagement, retention, and loyalty. Topics included personalized experiences as powerful engagement tools, the importance of understanding player profiles and data, and the limitations of brand marketing in player retention.
Creating Positive Experiences
Joanna Beaton, Head of CRM at Kwiff, emphasized the importance of creating positive initial experiences to build player loyalty. She highlighted the need for memorable experiences, especially in a congested market with tighter regulation and limited bonuses.
In conclusion, Fanatics is positioned to thrive in the US sports betting market due to their knowledge and experience. Convergence, player engagement, and positive experiences play significant roles in the future of the industry.
Keywords: Fanatics, US sports betting market, ESPN Bet, Sky Bet, convergence, player engagement, player retention, positive experiences.
