FanDuel is About to Dominate Another State's Market
After sharing over 70% of the New Jersey sports betting market with Draftkings, FanDuel is about to take control of Pennsylvania.
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"I think we will be the significant market leader in Pennsylvania for some time to come," FanDuel chief marketing officer Mike Raffensperger told Gambling.com last week.
While Rush Street Interactive and Kambi appear to have a significant enough foothold in the PA market, FanDuel foray into the market generated impressive results almost immediately.
FanDuel entered the market partnered with Valley Forge.
And the results are nothing short of phenomenal.
From LegalSportsBetting.com:
Their handle more than doubled from June to July – moving from $2.3 million to $5.0 million – and this is directly correlated to joining the online market.
When it launched first, SugarHouse obviously had the lead. But in the early days of FanDuel going live, it quickly surged ahead. Even just in Philadelphia, where SugarHouse is based, the split for search is about 50-50.
You can repeat this exercise and find similar results for Parx Casino‘s sportsbook, which launched earlier and then faded next to interest in FanDuel.
The question, of course, is if FanDuel will maintain this advantage in PA against strong regional casino brands. It’s already aggressively marketing in the state in addition to its widespread brand recognition; Parx and SugarHouse are stronger as just regional brands in the Philly area.
So what's the secret sauce?
FanDuel, and Draftkings for that matter, have accumulated a massive database of daily fantasy sports players over the years. These individuals may have at first been hesitant or unable to place bets online prior to the May 2018 US Supreme Court decision to overturn decades of prohibition. Today, it's in their face. Sports betting is mainstream and DFS customers are now ready to take the plunge.
The results don't lie. In just a few weeks of operating in the Keystone State, FanDuel Sportsbook PA generated more than $3.3 million in wagers, a mere couple thousand short of Parx.
If you already had the app in New Jersey, you use the same app in Pennsylvania. That’s a pretty big advantage, especially for folks already in the Philly area that were betting at FanDuel, LegalSportsReport notes. And, best of all perhaps, its PayPal-friendly.
- Aaron Goldstein, Gambling911.com
