Data From EKG Suggests Tier 2 Online Gambling Apps Catching Up To Top Dogs FanDuel, DraftKings

Written By Grant Lucas on October 8, 2024
Phone with apps for BetMGM, FanDuel, DraftKings, and WynnBet

Even at over six years old, the New Jersey sports betting market continues to find ways to not only set records but to also see the competition ramp up.

Sure, the likes of DraftKings and FanDuel still reign supreme in the Garden State, nearly doubling up the total revenue of the third- and fourth-place platforms in 2024. But new data from Eilers & Krejcik Gaming suggest that the NJ sports betting industry is beginning to see those middle-of-the-packers picking up some ground.

By no means does it appear that the heavy-hitters of DraftKings and FanDuel will give up their top spots anytime soon. But recent findings from EKG show a relatively interesting trend. And not just for sportsbooks in New Jersey, but also with NJ online casinos.

Tier 1 sportsbooks giving way to Tier 2 operators?

Using data from the first two weeks of the 2024 NFL season, EKG determined that the top five operators across the country “lost share on a relative basis.” Meanwhile, brands such as Hard Rock, ESPN Bet, and bet365 picked up the slack.

For example, DraftKings saw a 28% download share through the first two weeks of the season, down from 33% during the same time period in 2023. Similarly, FanDuel dropped from 31% last year to 27% in 2024.

Conversely, Hard Rock – no doubt thanks to its standing as the only online sportsbook in Florida – saw a sizable leap in download share, from 2% in 2023 to 12% this year.

How national data compares with NJ sports betting

In New Jersey, a relatively similar trend has taken shape over the past four months.

For example, since May, when it officially rebranded as Fanatics, the sportsbook has seen NJ sports betting revenue continue to rise with each month. And with it, so, too, has its market share percentage – from 2.6% in May to 5.6% in August.

The likes of BetMGM Sportsbook NJ has also watched its percentage spike, from 6.2% in June to 7.4% last month, despite August representing the third-lowest monthly revenue total reported by the sportsbook in 2024.

Joining the crowd, bet365 Sportsbook NJ (5.8%), ESPN Bet NJ (4.5%), and Hard Rock Bet NJ (2.2%) each reported four-month revenue share highs in August.

Meanwhile, DraftKings Sportsbook NJ (25.7% in August, down from 28.4% in May) and FanDuel Sportsbook NJ (40.2%, down from 47.2%) declined.

It’s a small sample size, to be sure, but it does indicate a tide shift of some sort, even if minimally.

BetMGM picking up ground in online casino race

In a similar examination, EKG also looked at the download share of the three top legal online casinos in the United States.

Comparing download share around Week 3 of the 2023 and 2024 NFL seasons, EKG pointed out the year-over-year dip seen by FanDuel (46% in 2023 to 42% this year) and DraftKings (33% to 27%). On the flip side, BetMGM spiked with its 32% share in 2024 up significantly from 21% a year ago.

This, according to EKG, suggests that “BetMGM is investing heavily to capture online casino [revenue] share this fall.” It also shows that BetMGM believes that iGaming is “BetMGM’s stronger suit.”

In New Jersey, those three brands — FanDuel Casino NJ, DraftKings Casino NJ, and BetMGM Casino NJ — have long stood as the top three performers.

Unlike sports betting, however, online gambling revenue in New Jersey does not show much of a change in the hierarchy. Sinch January, the revenue share has remained the relatively the same among the three.

We’ll see if anything changes next week, however, with the Division of Gaming Enforcement set to release September revenue numbers on Oct. 17.

Photo by Jeff Chiu / AP Photo
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Grant Lucas

Grant Lucas is a longtime sportswriter who has covered high school, collegiate, and professional levels. A graduate of Linfield College in McMinnville, Grant now focuses his attention on the growing NJ online gambling and sports betting scene.

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