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If any brand can make peer-to-peer betting work, it's Betr. They just launched Group Mode in 34 states, allowing bettors to compete against each other in fantasy sports, alongside a soft launch of their new sportsbook. Betr seems uniquely positioned to succeed where others have faced challenges. They've built a distinctive ecosystem with a savvy media strategy, and their target demo is spot-on. Peer-to-peer hasn't really taken off in North America before, but Betr’s got the partnerships, high-profile faces, and media chops to make it happen. They timed the launch perfectly with the start of the NFL season, and they’re definitely delivering on their promise to own the product from top to bottom. What do you think? Is peer-to-peer going to be the disruptor in the industry that Betr is expecting? #RMG #SportsBetting

Betfred is continuing the downsizing of its American business, which is in line with the company’s earlier announcements. The operator has now confirmed that it will leave Arizona before the end of the year. On Thursday, Betfred said that it will exit Arizona’s mobile sports betting market on November 4. This marks yet another step in the company’s gradual exit from US markets, prompted by suboptimal performance. Arizona, which launched mobile betting a few years ago, was expected to be one of America’s top betting markets. However, as leading brands continue to dominate the overall sector, smaller brands struggle to achieve sufficient profitability. In fact, Betfred is the fourth mobile sports betting operator to exit Arizona in 2024 alone. Read the full article ➡ https://lnkd.in/drAmQ5wd #business #usa #gambling #gamblingnews #sportsbetting

WynnBET has officially ceased operations in New York, marking a significant shift in the state's sports betting market. Existing customers are required to withdraw their funds by August 29. This strategic move clears the way for ESPN BET, which is expected to launch in time for the NFL season. WynnBET's departure follows a trend of consolidation in the US mobile sports betting industry, as smaller operations struggle to compete against dominant players like FanDuel and DraftKings. Over its two-and-a-half years in New York, WynnBET accepted $233 million in bets but only generated $11.3 million in revenue, leading to its decision to exit the market. The introduction of ESPN BET, operated by Penn Entertainment, promises to bring new energy and competition to New York's sports betting scene. As one of the world's largest sports broadcasters, ESPN BET is poised to make a significant impact. With the NFL season around the corner, the timing couldn't be better for bettors in the Empire State. Stay tuned for more updates on this exciting development. #SportsBetting #BusinessUpdate #ESPNBet #WynnBET #NewYork #NFL https://lnkd.in/dgY9g6VK

ESPN Bet’s Operator Is Reportedly Being Eyed in a Potential Takeover. The difficulty of achieving scale in a sports betting market that FanDuel and DraftKings Inc. dominate could help prompt more large-scale dealmaking among the industry’s challengers. According to a Reuters report, Casino operator Boyd Gaming approached PENN Entertainment, Inc., the operating partner of ESPN Bet, about a potential takeover. ESPN Bet, a key player in the sports betting market, could significantly alter the landscape if it changes hands. The deal would likely be based partly on Boyd Gaming’s interest in Penn Entertainment’s land-based casinos, but the two companies still face various obstacles. The two companies would still need approval from regulators and ESPN's parent, The Walt Disney Company. No specific prices for an acquisition have been disclosed, but the two companies have a combined market value of nearly $17 billion. Penn Entertainment’s ambitious goal to reach a 20% market share with ESPN Bet by 2027, as part of its $2 billion deal with the sports media giant, is not without its challenges. Despite making early progress in many key states, significant gaps remain. ESPN Bet, with a claimed 5-6% market share in states like Pennsylvania, Massachusetts, and Illinois, is still a relatively small player. The market is still primarily controlled by FanDuel and DraftKings, who hold a combined 75% share. With its 5% stake in FanDuel, Boyd Gaming could potentially strengthen its position through the Penn National acquisition.  #ESPNBet #FanDuel #DraftKings  #FrontOfficeSports #BoydGaming #Disney #PennEntertainment  #sportsbetting #market #Reuters

Logan Paul and KSI’s Prime is now the official sports drink of the L.A. Lakers The Lakers add to their impressive roster of partnerships with top-tier organisations like Arsenal Football Club and the UFC. So, it comes as no surprise that Prime is set to surpass $1.2 billion in sales. But what sets Prime apart from other creator-led brands, and even other energy drinks in the market? Aside from leveraging KSI and Logan Paul's extensive social media reach for visibility, Prime's success can be attributed to: Strategic Distribution: Prime's high-level distribution in numerous retailers, coupled with a deliberate scarcity strategy to drive demand. Strategic Partnerships: Aligning with sports figures and securing significant sponsorships across the sports and entertainment industries. But arguably the foundation of Prime’s ability to succeed lies in the dedicated online following cultivated by KSI and Logan Paul. And this is a lesson for other creators to prioritise a community-driven approach - a principle we deeply value at Wild Vision. Without the backing of a loyal following, it can be difficult to diversify revenue streams. If you're a creator looking to grow your community across multiple platforms, we're here to help! Feel free to reach out. #Prime #CreatorEconomy

https://lnkd.in/gfzPuGM2 Buckeye State’s online and retail sports betting operators combined in August to generate a $548.7 million handle, up 44.6% year-over-year. Ohio sports betting surpassed $5 billion in wagers year-to-date, becoming the fourth state behind New York, New Jersey, and Illinois to reach that milestone. The 2024 handle of $5.1 billion is up 13% from the $4.5 billion generated in the first eight months of 2023. August marked the seventh handle of over $500 million this year, with July being the only month under that figure. #OhioGambling #GamblingTrends

Super Group to Exit the US Sports Betting Market In a surprising move, Super Group, the parent company of Betway, announced today that it will be exiting the US sports betting market. This decision marks a significant shift in strategy for the global gaming giant, which had previously seen the US market as a major growth opportunity. Strategic Realignment Super Group's CEO, John Collins, explained in a press release that the decision was driven by a need to refocus resources on more profitable and sustainable markets. "While the US market has tremendous potential, it also presents unique challenges and a highly competitive landscape," Collins stated. "Our priority is to ensure we are investing in markets where we can achieve sustainable, long-term growth." The US sports betting market has seen explosive growth since the Supreme Court's 2018 decision to overturn the federal ban on sports wagering. However, it has also become increasingly saturated, with numerous operators vying for market share. Super Group faced intense competition from established players such as DraftKings Inc., FanDuel, and BetMGM, as well as new entrants continuously entering the market. Moreover, regulatory complexities and high customer acquisition costs have made it difficult for many operators to turn a profit. Industry analysts have noted that while the market is expanding, the path to profitability remains challenging for many companies. #usa #sports #casino #gambling

https://lnkd.in/gnsxPrSB Buckeye State’s online and retail sports betting operators combined in August to generate a $548.7 million handle, up 44.6% year-over-year. Ohio sports betting surpassed $5 billion in wagers year-to-date, becoming the fourth state behind New York, New Jersey, and Illinois to reach that milestone. The 2024 handle of $5.1 billion is up 13% from the $4.5 billion generated in the first eight months of 2023. August marked the seventh handle of over $500 million this year, with July being the only month under that figure. #OhioGambling #GamblingTrends

Earlier this year, #CTO Aaron LaBerge left Disney for casino gambling and online sports betting operator PENN Entertainment, Inc — but he didn't go too far from the Mouse House, as Penn operates sports betting brand ESPN Bet under a 10-year license signed last year. ESPN, of course, is owned by Disney. So what's the plan to help ESPN Bet, which is lagging behind FanDuel, DraftKings, and other rivals? Make Penn a little more like Disney, which has for years been developing user identities that provide insight into how a consumer spends their money across parks, the streaming services, and other Disney IP. “It’s very similar to a lot of the connectivity that needs to happen at Penn, as we connect our land-based casinos with our interactive properties,” says LaBerge. https://lnkd.in/e4YEdNyJ

The Jake Paul vs. Mike Tyson Fight was a Masterclass in Revenue Generation. From one money man to the other, Jake did his thing!💰 Here’s a breakdown of how this event raked in millions: 1️⃣ Fighter Purses • Jake Paul walked away with $40 million. • Mike Tyson earned $20 million. Not a bad payday for a night’s work! 2️⃣ Streaming Revenue • Netflix streamed the fight live, marking their first venture into live sports. Over 120M viewers! • This move wasn’t just about the fight—it was a play to attract younger subscribers and cement their dominance in the digital space. 3️⃣ Gate Revenue • Over 70,000 fans packed AT&T Stadium in Arlington, Texas. • The result? $17.8 million in gate revenue—a Texas combat sports record. 4️⃣ Sponsorships and Advertising • Brands lined up to get a piece of the action, leveraging the massive viewership to promote their products. 5️⃣ Merchandising • Exclusive fight merch flew off the shelves, from apparel to collectibles. This event wasn’t just a fight—it was a blueprint for how sports, entertainment, and strategic monetization come together in today’s world. What’s your take on the growing intersection of sports and business innovation? Let’s discuss! 👇 #SportsBusiness #Finance #RevenueGeneration #EntertainmentIndustry #CPA