Last updated on October 2nd, 2022 at 12:32 pm
There’s never been a better time to start a pay per head sportsbook. With NFL and college football ongoing, US sports betting companies are enjoying a surge in their handle. According to GeoComply, sportsbooks using its service made 103.1 million geolocation verifications from the NFL regular season opener until the end of that week. It was 71.5 percent higher than NFL Week 1 of 2021.
It is the first full football season for mobile football betting in New York. Also, mobile betting is available in 22 states, with nine others offering in-person wagering. Four more starts are waiting for the legalization of sports betting.
FanDuel, DraftKings, and other industry giants have the opportunity to earn a lot of money this fall. In addition, other sportsbooks and sportsbook pay per head operators have the chance to show what they have to offer to football fans.
US Sports Betting Companies
Flutter Entertainment, the parent company of FanDuel, claimed 51 percent of the US sports wagering market. Also, it earned $1.18 billion in the first half of the year with an EBITDA loss of $148.5 million.
On the other hand, DraftKings earned $466 million in the second quarter. It projects revenue of $2.13 billion and losses of $800 million.
BetMGM, a sportsbook venture of Entain and MGM Resorts, got $71.2 million in losses during the second quarter. Penn Entertainment earned $154.9 million with $20.8 million in losses for the same quarter.
After a year in which sportsbooks made generous promotional offers, many are cutting back on acquisition spending. Instead, their strategies are starting to diverge, with many focusing on building a community or buying one.
To expand its audience, FanDuel purchased the cable channel TVG, which focused on horse racing. It rebranded it as FanDuel TV and hired well-known performers like Kay Adams and Bill Simmons. On the other hand, DraftKings has sought to expand its roster of famous sports media personalities, including Mike Golic Jr. and Dan LeBatard.
